Climate Change and Its Impact Essay Example | Topics and Well Written Essays - 2500 words

Climate Change and Its Impact - Essay Example This project will show the fingerprint and harbinger of climate change manifesting through erratic weather patterns or ecological conditions and the possible solutions that can be offered to mitigate its impact. The particular discussion is given to Dubai, United Arab Emirates. The effects of climate change are increasingly felt in many parts around the world. Human life and activities are affected by weather and climate, and changes in climate affect man and animals, food production, water sources and health (Department of Ecology, n.d.). Short-term changes in climate can be classified as normal weather conditions, but utilizing observation on a long-term basis, a trend in changing climate has been identified (Department of Ecology, n.d.). The drastic and unusual effect of climate change that have affected not a few countries are the following: coldest winter in UK in 2008-2009 (since 1996-1997), strong North Atlantic storm in British Isles in 2009 (disrupted power and damaged build ings), Midwest heavy rains and worst floods in June 2008 (since 1993), hurricane Omar in July 2008 with winds of 205 km/hour and ravaged a wide area for 17 days, tropical storm Fay that hit Florida four times with its 100 km/hour winds, the worst drought that hit Spain and Portugal in 2008, the worst South California wildfire that damaged an area of 8,100 hectares in April 2009, the worst Mexico drought in August 2009 that affected 3.5 million farmers, the northern Africa flooding that affected Algeria and Morocco in September to November 2008, and several others (UNEP, 2009). Due to the obvious effects of climate change that include erratic and strong weather conditions, fluctuating temperatures, or changing seasons, states and nations, international organizations, concerned groups and individuals call on everyone.

The Company Culture Of Enron Management Essay

The Company Culture Of Enron Management Essay Just as the destiny of individuals is determined by personal character, the destiny of an organization is determined by the character of its leadership. And when individuals are derailed because of a lack of character, the organization will also be harmed (Josephson, 1999). The merger of two Houston-based pipeline companies in 1985 led to the creation of Enron. It started as an energy delivery company, but the deregulation a few years later helped it change its focus and become an energy matchmaker or energy broker. The company started matching the buyers and sellers of energy and utilised creative trading methods to generate profits. So in a short span of time, Enron corporations fortunes changed from just a surviving company and it become a thriving company- a symbol of successful American corporation. 1.2 The Company Culture The deregulation in 1988 led to a dramatic change in the corporation. Enron had become the symbol of dynamism and aggression. The culture at Enron was to encourage creativity amongst the employees. It embraced a culture that rewarded cleverness. The employees were motivated to explore innovative approach to their work. The limits were pushed for performance on the individual employee level to sustain the astonishing growth levels that the corporation was experiencing. It was slowly moving towards a culture that admired unchecked ambition. In the pursuit, Enron led a culture which believed in stretching the performance until the limits of ethical conduct were overlooked. We will also see ahead how the leadership at Enron affected a change in the culture of the corporation. If corporate leaders encourage rule-breaking and foster an intimidating, aggressive environment, it is not surprising that the ethical boundaries at Enron eroded away to nothing. Schein (1985) has focused on leaders hip as the critical component of the organizations culture because leaders can create, reinforce, or change the organizations culture. This applies not the least to an organizations ethical climate (Sims, 2000; Trevinoet al., 2000; Sims and Brinkmann, 2002).According to Schein (1985) there are five primary mechanisms that a leader can use to influence an organizations culture: attention, reaction to crises, role modelling, allocation of rewards, and criteria for selection and dismissal. Scheins assumption is that these five criteria reinforce and encourage behavioural and cultural norms within an organization. So to summarise the culture at the company as depicted in the movie which was influenced by the following factors. Leadership Behaviour (reference?) Espoused values and visions Communicating the vision for the organisation through stated strategic long-term objectives in the vision statement/annual general meeting statement. Role modelling and attention There were multiple instances of Management-Employee seminars. There were also Enron Gas services solution days, where the management would use motivational speech to inspire employees. Reaction to crisis Initially in the nascent stages of the accounting misdemeanours the management devised way to avert crisis with efficient use of Public relation to make the event look insignificant. Programs , structures Criteria for rewards and personnel decision Enrons remuneration system rewarded individuals who adopted Enrons aggressive, individualistic culture and were based on short-term profits and financial measures. Symbols , rituals and stories The enron management way of celebrating success- organising weekend adventure trips. Jeff Skilling mantra- Do it right, do it now , and do it better 1.3 The External Environment Enron had become an energy trading giant in the US market and it was expanding in more sectors and international markets. The surprise with the companys growth was not its ingenuity of doing business but the speed at which it was expanding. But with a careful balance of public relation and good CSR skill, Enron had succeeded in developing a niche amongst the American corporate houses, the American media and the masses. It was a symbol of corporate excellence teamed with an ambitious zeal to succeed at all cost. Enrons spectacular success was receiving positive reviews from the press and the financial analyst community which was incremental in adding fuel to the companys competitive culture. So the movie very succinctly describes the leadership at Enron which encouraged a culture that was morally flexible leading to ethical degeneration in the name of ambition. Leadership at Enron The pillars of Enron were the top management team which always believed in exuberant performance. They were driven in their pursuit of delivering on the bottom-line numbers at all cost. This attitude was percolated to the complete organisational structure at Enron by dividing the company in either the high performing employees or the so- called low-performers. The employees who were a part of the upper-crust were handsomely remunerated. This led to a negatively infected passion amongst the employees to break the performance bench-mark in the organisation to happily afloat. The reflection of the leadership style in the movie is Indirect leadership It is evident from the movie that there was a heavy influence of the top management on the culture of the organisation which cascaded down to all the employees of the company, but indirectly. A form of indirect leadership involves leader influence over the organization culture, which is defined as the shared beliefs and values of members (Scheinn, 1992- trice Beyer, 1991). Leaders may attempt either to strengthen existing cultural beliefs and values or to change them. There are many ways to influence culture, and they may involve direct influences (communication, a compelling vision or leading by example) or other forms of indirect influence, such as changing the organization structure or reward system. Transactional leadership It refers to the leadership style wherein the leader exchanges rewards of economic or financial value with the follower. These rewards are based on the premise that the leader recognises the parameters and the levels of performance which justify reasonably the task and also clarifies the conditions under which the rewards are available for justification. The goal is to enter a mutually beneficial exchange, but not necessarily to develop a enduring relationship. Although a leadership act transpires, it is not one that binds the leader and follower together in a mutual and continuing pursuit of a higher purpose. But in the movie it is also seen that leaders were in a constant pursuit to convince their followers about their genuine interest of promoting the welfare of the stakeholders, which was not the case in reality. Yet they were successful in blinding the stakeholders (employees) with their leadership position and skills. So here we see an overlap of transactional as well as transformational leadership traits as the leaders at Enron were successful in their motive. Effective transformational leaders may exhibit transactional behaviors, but their leadership style also includes one or more of the following characteristics: idealized vision, inspirational motivation, intellectual stimulation, and individualized consideration (Bass, 1985; Bass Avolio, 1994). These characteristics are assumed to transform followers and motivate them to do more than initially expected. This transformation presumably occurs through raising the followers awareness of the signi ¬Ã‚ cance of designated outcomes, getting followers to transcend their self-interests for the good of the organization, or augmenting followers needs on Maslows (1954) hierarchy of needs (Bass, 1985). Although leaders and followers purposes may begin as separate but related, they eventually become fused into a linkage of power bases that provide support for both members of the relationship. Leadership is about making choices (Kouzes and Posner, 2003). Choice is a binary action that divides options into two sets, the desired and the undesired ones, according to a higher principle or value (Rawls, 1999). Mostovicz (2008) posits that the way people choose is a reflection of their worldview. This discovery can be approached in 2 ways (1) By the need for achievement (the Lambda worldview); or (2) By the need for affiliation (the Theta worldview). Both the world views have a unique set of characteristics. The Lambda are self- motivated and highly driven to attain individaulistic goals whereas the Theta are more society welfare oriented. The Lamba have a narrow prespective towards the society as such whereas the Theta have a much broader view. The unique characteristics of both the worldviews along with leadership approach is as mentioned below. Theta Lambda Motivation/reason Socially oriented Personally oriented Goal Seeking unity and certainty Seeking challenge and creation Behaviour Communion Agency Benefit Building respect Looking for personal freedom Leadership principle Authenticity = truthfulness Authenticity =genuineness Inclination Toward choice Toward contrast Perception of truth As an objective As a set of rules Transformation of a leader A leader is born. Qualities are subconscious A leader is developed consciously So the reflection in the movie about the leadership at Enron is more on the Lambda worldview. The attitude induced by the top management through the company made the organisation develop a Lambda view which led to the massive breakdown of the ethical machinery. The Leader Jeff Skilling- the man with the ideas. He was the kind of a person who had big vision of things. One of his favourite books was the Selfish Gene, which was a description about the human nature being steered only by greed and competition in the service of passing on the genes. He wanted to alter the way in which Energy was being traded. He succeeded in initiating a market for natural gas wherein it started being traded as stocks. He converted energy into a financial instrument and this led to Enron becoming the largest energy trader in North America. Kenneth Lay was a visionary and he liked people who shared this attribute. Jeff Skilling fit in the picture perfectly. He was aggressive, intelligent and possessed exemplary leadership qualities which was incremental in creating a culture of aggression and incentivised competition in the organisation. Under his leadership the organisation transformed from a small energy market player to the biggest energy trading company in North America with a rapidly expanding global operations network. The company was being driven by the aggressive and individualistic attitude which was strongly ingrained in the system by Jeff Skilling and the policies of the management team for attaining short term profit. These were successful in achieving the results in hindsight but were seriously damaging the ethical balance in the system. According to the Big Five model (Hogan, Curphy Hogan, 1994, Page 61), Jeff Skilling exhibited the Surgency personality type which had specific traits of Extroversion, High Energy/activity level and a Need for power. Charisma was the most important aspect of his personality. He believed in gaining power and self glorification, caring very little for his followers, the ideals or values. This is usually seen in the case of negative charismatics. He used his charisma, to influence people in a way which made them awe-stricken, wanted his acceptance and hence they could not criticise him or his actions. This not just has an influence on the followers, but has an effect on the leader as well. The leader in such cases become not only over-confident but also delusional of their infallibility. To describe further we utilise the following table to understand the charismatic leadership and its effect on the organisation. The leader has total and absolute authority. Leaders build their eminence and maintain their grip on their followers throught a well-articulated ,emotive communication of their vision. The leader cultivates a compelling and captivating self image Immense faith invested in the leader Heavy emphasis on the charismatic attributes of leadership. The CEO had immense and unchallenged authority. Events such as the annual management conference, where leaders promoted themselves in a thearitical manner. Intense faith exhibited by emploess in Lay and Skilling and a declining confidence in the quality of their perceptions Charismatic Leadership A totalistic vision, leading to a higher sense of purpose and achievement. Employees assured they were transforming how business was conducted in the world. An intense transcendent ideology. A high degree of personal commitment by followers, to the goals of their leaders. The replacement of the followers existing belief system with a sense of being involved in a meaningful or revolutionary change. A compelling vision and intellectual stimulation Intense recruitement rituals, designed to engage employees in a process of affliation. The transformation of attitudes, behaviour. Constant messages that those hired were part of a special elite and were the brightest and the best in the world Indoctrination rituals that alternate between stressful and exhilarating. A process of conversion enacted Continuous indoctrination ,to reinforce initials sense of affiliation Individual consideration Perceived dissenters marginalised Financial data falsified Cultivation of obscure jargon, familiar only to people within the organisation Punitive internal regime. Promotion of a Common Culture Punitive internal environment: dissent demonised Unidirectional communication Negative information suppressed and positive information maximised. Total conformity from followers Power and Influence- Amongst the different types of powers Skilling had both at his disposal. He made use of his position power due to his position in Enron and also the personal power. In terms of position power it appears that applied the reward power which meant that his followers complied in order to obtain rewards and also legitimate powers where in the followers complied as they believed that he had the right to make the request due to his position. Also, we could see the use of his personal powers to a great extent where in his vast knowledge about the subject enabled his followers to comply. The followers also admired him and aspired to be like him due to his charismatic personality which also gave him the referent power which helped him gain loyalty and commitment. In order to influence his followers in supporting him he did use rational persuasion to show them the logical side of his argument based on factual evidence. The followers at some time did realise that Skilling was being unethical in his practices and in spite of this realisation still continued to support him. To explain the influence Skilling had on his followers we can make use of the 3 well known experiments-Milgrams experiment, Solomon Aschs conformity and Zimbardo prison experiment. Milgrams experiment tells us how people conform to an authority figure. The agentic state theory explains this further by stating that the person comes to view himself as an instrument in carrying out another persons wishes and therefore no longer sees himself responsible for his actions. Similarly the other 2 experiments highlight the human behaviour in terms of role conformity and social conformity where in people have a tendency to come under the pressure of social acceptability and conforming to everything they feel they need to in order to be a part of the group. Leader-Member Exchange Enron was a company of believers. In a survey in 1997, employees who were surveyed for a feedback faced tremendous faith in the leadership of Kenneth Lay and Jeff Skilling. It has been discussed in this analysis that the company had an indirect leadership style, whereby influence of the top management percolated to all the employees in the company through the use of multiple communication strategies (Enron Gas services day) when the top management discussed the future strategy of the company, the importance of employee contribution, commending excellent employee performance etc. So the employees became blind believers in the methodology adopted by the leadership at the organisation and started working with the win at all cost attitude which led to the slow erosion of the ethical fabric. Also the reward system that was created in the organisation, reflected the expectation of the management. The companies reward system only appraised employees who performed consistently with little re gard to ethical conduct. Overall, Enrons reward system rewarded individuals who embraced Enrons aggressive, individualistic culture and were based on short-term profits and financial measures. Leadership development at Enron Leadership calls for total commitment to the perpetual process of purpose seeking. While leaders are usually concerned with their legacies, their commitment to purpose has to go far deeper. This total commitment implies that, in reality, leaders seek either my way or nothing. However, this commitment is intrinsic; it calls for the leader to mobilise himself, body and soul, but in no way does it imply extrinsically that what is not my way is wrong. Ideal leaders do not exist in practice. Thus, we can relate to leadership as a progressive development only. Since humans cannot be fully conscious of our emotions, a posteriori, we cannot fully mobilise them in order to understand and attain our life goals and purpose. Because our purpose remains opaque at best, it follows that leaders will act unethically even when they do so unwillingly or unconsciously. The only way for leaders to improve their ethical position is to interact with others in society to help them reveal their hidden agenda over time. The particular worldview, in turn, shapes these agendas, either Theta or Lambda, that a person embodies in his search for greater self-awareness and contextualisation with his external environment. Appendix

Leaving Home- Original Writing Essay -- Papers

Leaving Home- Original Writing She climbed on the hard mattress and pulled the fluffy, violet diary from under the feathered pillow. She opened the hard-back book and ferociously flicked through the pages, trying to find a blank one, she opened her bedside draw and rummaged through the useless items, she picked up a pen and began to write. â€Å" How could they do this to me? Why now? Why couldn’t they have told me earlier so I had time to acknowledge it, I mean I am sixteen I will be going away to college soon, why didn’t they tell me when I was like ten so I had time to think about it? Do they still love me after what I did? Do I still love them after what they told me?† Marie scribbled her thoughts onto the lilac page. As she recorded the night’s events she realised something and stopped writing. â€Å"I have to leave?† She told herself as she slammed the diary and launched the pen across her room. Marie then started to pace impatiently around her darkened room and started to talk rapidly to herself. â€Å" I can’t be in the same house as them, but I don’t want to leave Jane, she is my sister I can’t just leave her, but she is just too young too come with me, she isn’t really my sister, not by blood anyway.† She debated with herself. Tears ran down her soft cheeks as she tried to find a solution. â€Å"Jane belongs here, I don’t,† she quietly said to herself. She crept over to her bed and lay down, â€Å"they’re not my parents. I need to fid my real parents, my real family, even if they don’t want to be found and even if it means leaving everyone I care for behind. I have to leave.† She told herself. The tears where like a river now, streaming down ... ...l.† The cab driver said. Marie turned around to face the cab. â€Å"Yea just a second.† Marie replied. She locked the door and put the key in the letterbox at the end of the garden. She opened the door of the cab and climbed in. â€Å"Prescott street, Arizona please.† She told the driver. Tears ran down her face as she looked out of the window and saw her hometown for the last time. As she drove off she remembered all the good time she had whilst growing up there. She thought about the first time she met her wonderful friends, the first day in high school and all those memories seemed like nothing when she remembered what her so called mother told her on her Grandmothers funeral. She considered telling the driver to turn round, that she had made a mistake but she knew what she had to do, it wasn’t like she would never go back.

Anthem †Ayn Rand Essay

In the book Anthem, Equality 7-2521 (Equality) lived in a society where everyone was equal and treated with disrespect. The society had no tolerance for being different and having their own opinion and ideas. People couldn’t even pursue the career they dreamed of having. They were punished for disobeying any of these â€Å"rules†. Despite Equality’s strict society, his motivations in conducting his experiments are finding individuality, starting a new revolution, finding freedom, and trying to become a scholar. Equality’s inspiration, will, and determination lead him to spark a new revolution. After Equality found the black hole, he kept habitually going back to it, to discover new things and gain intelligence. He was finding more about himself and discovering that everyone was not the same and not everyone has the same talents in life. Even though it was against the government’s expectations about everyone being equal, Equality was happy to break the law, so he could learn more. Equality says, â€Å"And yet there is no shame in us and no regret. We say to ourselves that we are a wretch and a traitor. But we feel no burden upon our spirit and no burden upon our spirit and no fear in our heart.† (Rand 37) Equality was curious. He wanted to find out about the unknown. By showing his invention, he would spark a new revolution of light. He would inspire people to create and learn. True joy comes from what a man can do with inspiration, desire, will, to better people, and while doing that Equality learns that it will allow him to achieve more in society. Equality wanted to accomplish something by himself and prove that not everyone meets the expectations of their job. In other words that’s saying that just because you come from a poor family, doesn’t mean you’re going to be poor when you become an adult. Anyone can achieve what they set their mind to, and Equality made up his mind, he wanted to be different and he wasn’t going to give up. When Equality discovered his invention he wanted to prove the scholars wrong and to prove to them that not everything had been discovered. Equality says, â€Å"The Council of Scholars has said that we all know the things which exist and therefore the things which are not known by all do not exist. But we think that the Council of Scholars is blind. The secrets of this earth are not for all men to see, but only for those who will seek them. We know, for we have found a secret unknown to all our  brothers.† (Rand, 52) He just wanted to prove that he was smart enough to be a scholar. His invention proved that anyone can do great things and his brother’s look up to him. Equality only knows what he is capable of not â€Å"we†. Throughout the process of his invention, going to the Palace of Corrective Detention, going before the Council of Scholars, and running away, Equality has found his individuality. After he ran away, and found his new house, he came across the word â€Å"I† in the manuscripts, and he has started a new way of living. Equality says, â€Å"Then I called the Golden One, and I told her what I had read and what I learned. She looked at me and the first words she spoke were: â€Å"I love you.†Ã¢â‚¬ (Rand, 98) Equality is determined, strong, motivated, and won’t let anyone bring him down. â€Å"Then, tonight, we knew that we must escape. For tomorrow the World Council of Scholars is to meet in our city.† (Rand, 66), say’s Equality. Equality has realized how different he is than others. He is smarter than the Council and the Scholars. He knows now he can teach others about electricity. He can help people find individuality and help them find out how they’re unique. Joy comes from his heart because he has never done anything on his own and now he can achieve more expectations that just any street sweeper. Throughout the book, Equality goes against the government because he is searching for freedom. In the book, Equality talks about wanting to see himself but that is against the law, when he runs away, he finally seems himself. Equality wants to see his own image because, his entire life he has never seen it, and he has only seen the faces of his brothers. Equality sees his own face for the first time and says, â€Å"We sat still and we held our breath. For our face and our body were beautiful. Our face was not like the faces of our brothers, for we felt no pity when looking upon it. Our body was not like the bodies of our brothers, for our limbs were straight and thin and hard and strong. And we thought that we could trust this being who looked upon us from the stream, and that we had nothing to fear with this being.† (Rand, 80) Now that he is thinking for himself he wants to know more about himself. He never received the chance to find out what kind of person he was when he was young, so now that he is older he wants to know more about himself. He falls in love with Liberty the first time he sees her, and in their society they’re not supposed to take notice of the opposite gender.  Equality whispers, â€Å"For men are forbidden to take notice of women, and women are forbidden to take notice of men. But we think of one among women, they whose name is Liberty, and we think of no others.† (Rand, 38) When Equality and Liberty both run away they can finally be together, and start their family. Equality wanted Liberty, so he found a way, and got her. When Equality finally finds freedom, on the first day in the forest, he says, â€Å"We awake when a ray of sunlight fell across our face. We wanted to leap to our feet, as we have had to leap every morning of our life, but we remembered suddenly that no bell had rung and that there was no bell to ring anywhere. We lay on our back, we threw our arms out, and we looked up at the sky. The leaves had edges of silver that trembled and rippled like a river of green and fire flowing high above us.† (Rand, 78) Equality was free. In conclusion, Equality’s self-determination and perseverance allowed him to conduct his experiments without anyone telling him otherwise. Even though he had tough obstacles to climb over to have his invention, he didn’t let anything stop him. The Council of Scholars was his biggest challenge with his experiment and he overcame them. The biggest part of Equality conducting experiments was finding individuality within himself. He knew that people should not be treated the exact same and everyone had a mind of their own. Equality’s self-respect and determination paved the way to a life of his own.

Horses Anatomy Essay

The respiratory system of the horse is well adapted to athletic exercise, with unrestricted upper airway diameters, and a large lung capacity afforded by 18 ribs. These combine to enable air intakes of up to 1800 litres per minute in a galloping horse. Volumes of up to 300 litres of blood are pumped at high pressure through small lung capillaries surrounding 10 million air sacs to take up and deliver over 70 litres of oxygen per minute to the working muscles at the gallop. As a result, any restriction in upper airway diameter, obstruction of the airways, diseases or stress related conditions that reduce efficiency of oxygen uptake from the air sacs, can have a great influence on athletic capacity. The large lung surface and high blood flow rates also provide the additional function of heat loss during and after exercise, with up to 20% of the muscle heat generated during exercise being exchanged across the lung surface to supplement sweating and other skin surface heat loss mechanisms. The respiratory system is continually challenged by a large amount of foreign material, including viruses, bacteria and fungi inhaled in air from track and arena surfaces during exercise, or from dusty bedding, feed and stable environments. The horses circulatory system is a very large and complex system made up of veins and arteries. The blood is the pumped under enormous pressure from the heart along the arteries which have thick muscular walls to deal with the pressure. It oxygenates the body and the internal organs The circulatory system is based upon the heart – a hollow, muscular organ in the chest cavity. It pumps the blood around the body and is divided into four separate compartments . Blood from the right ventricle goes to the lungs to be oxygenated and then is returned to the left ventricle. Blood from the left ventricle is pumped all through the body in arteries. Arteries repeatedly branch and diminish in size until they become microscopic capillaries. Capillaries permit necessary interchange between blood and tissue. They eventually join up to produce veins, which convey blood to the right atrium and from there to the right ventricle. A horse of average size has approximately 50 pints (28 litres) which circulate through his system every 40 seconds. Excretory system Depending on size, age, and productive status (work, sport, pleasure, breeding, pregnancy, lactation, retirement), a horse will digest about 60% of most feedstuffs. Feed that is 60% digestible indicates that if a horse is fed 25 pounds of dry feed, 15 will be digested and 10 pounds will be excreted as manure (feces). This will vary by feed. Feeds that are higher in fiber such as hays and grasses have a lower digestibility. Conversely, concentrate feeds that contain grains such as corn, oats, and/or barley, usually have a higher efficiency of digestion and less fecal excretion. Nitrogen (N) is a major component of protein. Horses need protein for maintenance, growth, reproduction, lactation, and work. Phosphorus (P) is a macromineral needed for maintenance, growth, and other physiologic functions. Water is also essential for bodily functions. Water is lost from the body primarily in the excretion of feces and urine, sweat, evaporation from the lungs and skin, and in the case of lactation, from milk. It also affects the consistency of manure. All nutrients that are digested (absorbed) are metabolized in the horse’s body. Some of these, especially nitrogen in proteins, are excreted in the urine. After being digested and metabolized in the body, waste nitrogen is converted to urea in the liver and excreted in the urine. Additional  undigested nitrogen is excreted in the feces. Overfeeding protein will increase the excretion of nitrogen. Overfeeding phosphorus will increase the excretion of phosphorous, most of which is excreted in the feces. Horses should be fed a diet that is digestible and formulated to meet nutritional requirements, while avoiding excesses. Overfeeding can result in higher levels of nitrogen and phosphorus in the manure. Horse farmers should feed horses according to their nutritional needs. Specific recommendations for nitrogen (protein) and phosphores.

Potential of Export of Good to Gulf Countries Essays

Potential of Export of Good to Gulf Countries Essays Potential of Export of Good to Gulf Countries Essay Potential of Export of Good to Gulf Countries Essay Dissertation Submitted to the Dr. D. Y. Patil University In partial fulfillment of the requirements for the award of The Degree of MASTERS IN BUSINESS ADMINISTRATION Submitted by: Ankit Sharma [pic] Current Future Potential of Export of Good to Gulf Countries with respect to SCI Ltd. Dissertation Submitted to the Padmashree Dr. D. Y. Patil University In partial fulfillment of the requirements for the award ofThe Degree of MASTERS IN BUSINESS ADMINISTRATION [pic] DECLARATION I hereby declare that the dissertation Current Future Potential of Export of Good to Gulf Countries with respect to SHIPPING CO OPRATION OF INDIA Ltd (SCI). submitted for the MBA Degree at Padmashree Dr. D. Y. Patil University’s Department of Business Management is my original work and the dissertation has not formed the basis for the award of any degree, associate ship, fellowship or any other similar titles. Place: Navi Mumbai Date:ACKNOWLEDGEMENTS A lot of people have contributed in making this project report by giving me the required knowledge and time. I would like to thank all of them. It is because of their continued assistance and competence that I have been able to reach this milestone. for instilling confidence in me to carry out this study and extending his valuable guidance and encouragement from time to time, without which it would not have been possible to undertake and complete this project within the stipulated time.The route of this service is as follows: Colombo/Mundra/JebelAli/Mundra/Pipavav/JNP/Cochin/Tuticorin. SCI also provides services to other upper-Gulf ports like Bahrain, Bandar Abbas, Sharjah, Abu Dhabi, Kuwait, and Muscat via Jebel Ali. The SCI began operating this new independent weekly service from March 2008 to the Gulf, with three owned 1600 TEU (1800 TEU nominal) vessels, on a round voyage schedule of 21 days. In December 2008, the SMILE service was expanded to carry feeder and coastal cargoes on the west coast of India. Through the SMILE service, the SCI has commenced a coastal service on the west coast of India between Mundra, Cochin and Tuticorin from December 2008.The main objective of this study is to ascertain the future exports of goods services to gulf countries in relationship with Shipping Corporation of India (SCI). Focus of the research would be to find out which gulf country’s economy will ascend in the near future its repercussions on the consumption pattern of the gulf countries, what will be the demand condition, market potential in the current economic scenario in the near future in terms of Export Import trade. The recommendations suggestions will focus on which products should be exported to the gulf countries by The Shipping Corporation of India to increase their overall profitability. Comprehensive study on linear service provided by the Shipping Corporation of India the marketing aspects related to it.The study involves in finding out the current players in the container trade to gulf countries, what are the major commodities that are exported, what is the vessel size if it is a weekly service. CHAPTER-1 INTRODUCTION About Shipping Industry About Shipping Industry We live in a global society which is supported by a global economy – and that economy simply could not function if it were not for ships and the shipping industry. Shipping is truly the lynchpin of the global economy: without shipping, intercontinental trade, the bulk transport of raw materials and the import/export of affordable food and manufactured go ods would simply not be possible.Of all the sectors that make up the global transport infrastructure, shipping probably has the lowest public profile and the least representative public image. Its importance is not well known although not a single area of our life remains unaffected by it. In the recent past developing countries have put the pedal on the gas and have raced ahead from the developed countries in case of the international trade. The growth in international trade, removal of trade barriers being the principal reason, has made the developing countries to concentrate more on the improvement of their infrastructure, like roads, airports, seaports, which play a vital role in the development of the economy.Product storage, along with the capacity to move large shipments have placed the shipping industry in a very advantageous position. Containerization, multi-modal transport services, advancement of marine engineering technology, specialized systems, and computerization have contributed towards making sea transport as a prime mode for movement of internationally traded goods. However, the development of shipping industry in a country also depends on its population density, economic advancement and many other inter-related conditions, like port and refueling capacities. CHAPTER-2 OBJECTIVE OF THE PROJECT OBJECTIVE OF THE PROJECT Primary Objective:Objective of the study is to find the current future potential of export of goods to Persian Gulf countries in relationship with Shipping Corporation of India. Secondary Objective: and Gulf countries for the year 2012-13 Secondary objective of the study is as mentioned below:- Current scenario of the global shipping industry India’s contribution to the world trade Total number of commodities exported imported by India Total number of commodities exported to and imported from Gulf countries in the year 2010-11 Potential future export of commodities between India and Gulf countries Competitor Analy sis Major commodities exported to Gulf countries List of documents required by the shipping vessels Comprehensive study on the liner service Trade study of last 3 years Projections of the trade between India CHAPTER-3 LITERATURE REVIEW LITERATURE REVIEW International Shipping Industry Benefits from Recent Tax Changes: Certified Public Accountant Lifson, David A; Bentley, Peter E. The CPA Journal[pic]75. 6[pic] (Jun 2005): 48-52. Despite its continuing importance, the shipping industry has lost most of the prestige it held in this country. One reason is that although several U. S. shipping companies are publicly traded, the nation is less well represented in international shipping than in other, comparable global industries. To partially address this complaint, and in an attempt to incentivize the U. S. hipping industry, the American Jobs Creation Act of 2004 includes four measures-the deferral of freight tax regulations; changes to the controlled foreign corporation rules; chang es to the foreign tax credit rules; and the introduction of a tonnage tax for qualified entities-that represent a dramatic change in federal tax policy and will likely make the U. S. environment more attractive to businesses engaged in U. S. -international shipping. The tax changes described in this article will have broad impact and are designed to change the risk-reward assumptions that the industry had come to accept. Over the coming months, ship-owners, operators, and financiers will better understand how these changes apply to them, and how they can profit in the new tax environment. The Greek shipping industry Grammenos, Costas T; Choi, Chong Ju International Studies of Management Organization[pic]29. 1[pic] (Spring 1999): 34-52. A wide range of industries are undergoing changes brought on by globalization.Even the Greek shipping industry, traditionally based in Greece with a wide international network, is being forced to make structural adjustments as changes in the regulato ry environment demand different means of financing, and these will, in turn, evitably change the competitive structure of the industry. The study analyzes the competitive advantage of ethnically homogeneous business networks with particular reference to the Greek shipping industry. Ethic homogeneity can provide market signals that can compensate for the contract uncertainty arising from the absence of legal means of contract enforcement. Also considered are the implications for shipping regimes such as those involving shipping cartels and safety and environmental concerns. Measuring Success Factors of Quality Management in the Shipping Industry Cheng, T C Edwin, Choy, Petrus W C. Maritime Economics Logistics[pic]9. 3[pic] (Sep 2007): 234-253.It is generally accepted that quality management is considered a valuable competitive factor for firms that confers them competitive advantages and enables them to achieve superior performance. Although there have been numerous studies examinin g general quality management practices and implementation, industry-specific studies on quality management practices and factors that influence their success in the shipping industry are rather few. This study seeks to identify the factors that are critical to successful quality management, and attempts to develop a reliable, empirically tested, and rigorously validated measurement instrument for quality management, for the shipping industry. We conducted a large-scale survey of shipping industry executives and applied a rigorous research methodology to treat the survey data.We identified four success factors of quality management, which are top management commitment and participation, quality information and performance measurement, employee training and empowerment, and customer focus, and developed a functional instrument to measure quality management in the shipping industry. This paper contributes to research by identifying the success factors of quality management, and provide s managerial insights on the successful management of quality, in the shipping industry. Helping the Shipping Industry to Bounce Back from the Global Challenge in the Face of the Economic Downturn Anonymous. PR Newswire [New York] 11 Jan 2010. More than 40 brilliant speakers from the Chinese government, marine organizations, shipping corporations, and technology providers from all over the world will speak to over 200 attendees active in the industry on the summit themes of efficiency, security, and the environment. Since its creation in 2007, Shipping Tech has encouraged technological development across the shipping industry and established an international forum for cooperation between governments, shipping corporations, ship manufacturing corporations, technology providers and other related industrial elites for the innovation of shipping technology. Liberalization and Deregulation in the Domestic Shipping Industry: Effects on Competition and Market Structure Austria, Myrna S. Ph ilippine Journal of Development[pic]30. 1[pic] (2003): 29-69. The paper is organized as follows. The first section discusses the contestability of markets in the shipping industry, including the arguments for and against regulating the industry.The succeeding section examines the policy reforms made through liberalization and deregulation. The effects of the reforms on market structure and competition, including the impact of competition on efficiency, are then analyzed. This is followed by a discussion on the role of the Maritime Industry Authority in a deregulated and liberalized environment. Areas for competition policy and further reforms are then identified. Shipping industry continues to face difficulties Accord Fintech [Mumbai] 10 Feb 2010. Increase in handling of iron ore, thermal coal, petroleum oil and lubricant products (POL) and container traffic were the main factors pushing the cargo volumes.The Baltic Dry Index (BDI), the global benchmark for shipping freight rates of dry bulk carriers, started recovering in April last year riding on surging commodity demand from China. Indian shipping industry faces negative outlook in 2011: Fitch Anonymous. Asia Pulse [Rhodes] 28 Jan 2011. Fitch Ratings maintains a negative outlook on the Indian shipping industry in 2011, as freight rates will remain depressed because of the demand-supply imbalance caused by a net increase in capacity exceeding demand, it said in a statement. * The ratings firm said that lower freight rates have affected revenue generation across shipping companies, in line with the global trend and said major players will be under pressure in 2011. During 2011, low freight rates are expected across all segments like dry bulkers, tankers and containers, and few Indian shipping companies are expected to undertake aggressive capex plans, it said. Container Shipping Industry Celebrates National Maritime Day Anonymous. PR Newswire [New York] 21 May 2008. Atlantic Container Line AB, China Shipping (Group) Company, CMA-CGM Group, COSCO, Crowley Maritime Corporation, CSAV (Compania Sud-Americana de Vapores S. A. ), Hanjin Shipping Co. Ltd. , Hapag-Lloyd AG, Hyundai Merchant Marine Co. , Kawasaki Kisen Kaisha, Maersk Line, Malaysia International Shipping Corporation (MISC), Mediterranean Shipping Co. S. A. (MSC), Mitsui O. S. K.Lines, Neptune Orient Lines Ltd/APL, Nippon Yusen Kabushiki Kaisha (NYK), Orient Overseas Container Line Ltd (OOCL), Pacific International Lines (Pte) Ltd, United Arab Shipping Co (SAG), Wan Hai Lines Ltd, Yang Ming Marine Transport Corp. , Zim Integrated Shipping Service Ltd. Indian Shipping Industry Carrying Capacity Cross 10 Mln Gt Anonymous. Asia Pulse [Rhodes] 20 Sep 2010. The aim was to provide a level playing field to domestic shipping industry against the international shipping companies and facilitate the growth of Indian tonnage. [ ] the Indian tonnage has steadily grown over the last 5 years from 6. 94 million in April 2004 to the present level , the statement said. Research and Markets; Indian Shipping Industry Economics Week (Mar 23, 2012): 548.The Shipping Industry Sailing through turbulent waters The Shipping industry is highly co-related to the developments in global trade, therefore any adversity in the global economic growth adversely affects the prospects of global shipping fraternity thereby explaining the cyclical nature of the industry. CHAPTER-4 RESEARCH METHODOLOGY RESEARCH METHODOLOGY Research refers to a search for knowledge. It is a systematic method of collecting and recording the facts in the form of numerical data relevant to the formulated problem and arriving at certain conclusions over the problem based on collected data. Thus formulation of the problem is the first and oremost step in the research process followed by the collection, recording, tabulation and analysis and drawing the conclusions. The problem formulation starts with defining the problem or number of problems in the functional area. To detect the functional area and locate the exact problem is most important part of any research as the whole research is based on the problem. According to Clifford Woody research comprises defining and redefining problems, formulating hypothesis or suggested solutions: collecting, organizing and evaluating data: making deductions and reaching conclusions: and at last carefully testing the conclusions to determine whether they fit the formulating hypothesis.Research can be defined as the manipulation of things, concepts or symbols for the purpose of generalizing to extend, correct or verify knowledge, whether that knowledge aids in construction of theory or in the practice of an art In short, the search for knowledge through objective and systematic method of finding solution to a problem is research. SOURCES OF DATA: PRIMARY DATA COLLECTION: Primary data are those, which are collected afresh and for the first time and thus happen to be original in character, questions and interview s methods were accede to collect primary data by visiting the factory premises and various departments in it. It was collected from the employees working in the factory. By using both the questionnaire method and interview method. I would gather information from the employees. SECONDARY DATA COLLECTIONIt is collected from the internal records of the company such as library records, trade journals, various manuals of the company, various training programs previously conducted and it’s responds etc; It is also conducted from the officials of the pursued department in the factory. Secondary data provides a better view of the problem study many magazines, tools and other references were also mean important in this study. CHAPTER-5 GLOBAL SCENARIO GLOBAL SCENARIO It is generally accepted that more than 90 per cent of global trade is carried by sea. Throughout the last century the shipping industry has seen a general trend of increases in total trade volume.Increasing industrializa tion and the liberalization of national economies have fuelled free trade and a growing demand for consumer products. Advances in technology have also made shipping an increasingly efficient and swift method of transport. World seaborne trade figures i. e. the amount of goods actually loaded aboard ships have increased considerably since the 70s and in 2008, reached 8. 2 billion tons of goods loaded. As with all industrial sectors, however, shipping is not immune to economic downturns and 2009 witnessed the worst global recession in over seven decades and the sharpest decline in the volume of global merchandise trade.In tandem with the collapse in economic growth and trade, international seaborne trade volumes contracted by 4. 5 per cent and total goods loaded went down to 7. 8 billion tons in 2009. However seaborne trade bounced back in 2010 and grew by an estimated 7 % taking the total of goods loaded to 8. 4 billion tons. Developing countries continued to account for the largest share of global seaborne trade (60% of all goods loaded and 56 % of all goods unloaded), reflecting their growing resilience to economic setbacks and an increasingly leading role in driving global trade. Developed economies’ shares of global goods loaded and unloaded were 34 % and 43 % respectively. Transition economies accounted for 6 % of goods loaded and 1 % of goods unloaded. Developing countries are expanding their participation in a range of different maritime businesses. They have growing market shares in more capital-intensive or technologically advanced maritime sectors such as ship construction and ship owning. China and the Republic of Korea between them built 72. 4 per cent of world ship capacity (dwt) in 2010, and 9 of the 20 largest countries in ship owning in January 2011 are developing countries. Dry cargo, including bulk, break bulk, and containerized cargo, accounted for the largest share of goods loaded (66. 3%), while oil made up the balance. Growth in dry bulk trade is estimated at 4. 8% with the five major bulk products, fuelled mainly by the needs of China’s metal industries.In 2010, developed economies recorded positive growth, with their GDP expanding by 2. 5 per cent. The United States and Japan performed better than the European Union, growing respectively by 2. 9 per cent, 4. 0 per cent and 1. 8 per cent. Developing economies and economies in transition continued to drive the global recovery with the rebound being led by large emerging economies, in particular China (10. 3 per cent), India (8. 6 per cent) and Brazil (7. 5 per cent). Almost unburdened by the financial crisis and consequent economic downturn, China, India and other developing countries resumed their expansion by generating their own growth instead of relying on exports to developed economies’ markets.While the Unites States remains the main source of import demand for Asia, China has evolved into an independent engine of regional growth and a larg er source of final demand for a number of emerging developing economies, including the Philippines, the Republic of Korea and Taiwan, Province of China. The lead taken by developing countries in powering global growth reflects a shake-up in the world’s economic order which has taken decades to unfold. UNCTAD data show that the share of developing countries in the global economic output rose from about 17 per cent in 1980 to over 28 per cent in 2010, raising the influence of these countries in the world’s economic performance.In 2010, China overtook Japan as the world’s second biggest economy (in nominal terms) and is leading the transformation together with some of the world’s fastest-growing economies such as India and Indonesia. An important economic milestone in 2010 was Brazil’s ranking as the world’s seventh largest economy after surpassing Italy. Goldman Sachs is now predicting that the BRIC countries (Brazil, Russian Federation, India and China) will overtake the G–7 countries in size of their economies by 2018, i. e. much sooner than its original prediction of 2040 made a decade ago. The overall strong performance of developing countries as a group conceals differences between countries and groupings.For example, GDP growth in South Africa (2. 8 per cent) was much lower than the rates recorded by China, India and Brazil. Similarly, the recovery in many of the least developed countries (LDCs) remained below their potential with GDP growth (4. 8 per cent) not returning to its pre-crisis levels. The economic downturn and consequent increase in unemployment, together with the drop in social spending, can cause a serious setback to social equity and poverty alleviation. Although some ground has been gained, between 2007 and the end of 2009, at least 30 million jobs are estimated to have been lost worldwide as a result of the global financial crisis.The global economy still needs to create at least another 22 million jobs to return to the pre-crisis level of global employment. It is further estimated that 47 million to 84 million more people are falling into or staying in extreme poverty because of the global crisis. While these considerations are not specific to the LDCs, they are nevertheless more detrimental for these countries in view of their inherent vulnerability to any erosion in economic and development gains achieved as part of efforts to attain the Millennium Development Goals (MDGs). In terms of value of trade, USA is the major country engaged in maritime transport generating 10. 68% of world trade in 2008. Other major countries include Germany (8. 22%), China (7. 91%), and Japan (4. 78%).Among the Asian countries, China is the largest trader with large container port traffic and fleet. China International Marine Containers (CIMC) and Singamas are the two largest container manufacturers, which make China dominate in this field also. India is placed at eighteenth position in t he world (with a share of 1. 45%), and seventh position amongst Asian countries. Table no. 5. 1 Growth of world output 2005 2013 [pic] [pic] Effects of the Global Slowdown Shipping Industry has been widely impacted given the economic slowdown of 2008 and 2009. Since the demand for ships / vessels is a derived demand of commodities, the slowdown affected the demand for ships / vessels during this period.This has been evident from the movement of Baltic Dry Index (BDI), which is a daily weighted average of prices of shipping raw materials, and is one of the leading indicators of global economic activity. BDI measures the demand to move raw materials, which indicates production, planning and industrial activity worldwide. BDI reflects the freight cost to transport dry bulk cargoes around the world, mainly raw materials such as iron ore, coal, and grains. The index excludes wet cargoes (such as crude oil carried by tankers) and container business (used mainly to carry manufactured prod ucts). As the global trade shrunk by over 10%, many shipping lines found themselves in a situation of excess capacity (many liners ordered new ships during the economic boom period).Some analysts predicted that at least few shipping lines would go out of business to match with the supply demand situation. However, it is believed that shipping lines, in an informal arrangement, collectively reduced the capacity through slow steaming’ (spending more days in sea, which helped them to save on fuel and reduce capacity). It is estimated that slow-steaming could cut a liner’s capacity by around 5%. It is also believed that some shipping lines have teamed up to levy a voluntary surcharge of US $ 400 per container. Both the Federal Maritime Commission (USA) and the European Monitoring Agency are closely monitoring the developments to see any evidence of price fixing by shipping liners. Maritime Transport and Climate Change ChallengeLike other economic sectors, maritime transpor t, which by volume carries over 80% of global trade, has a role to play in addressing formidable challenge of climate change. International maritime transport is playing a part in contributing to climate change, but more importantly, it is also likely to be directly and indirectly impacted by the various climate change factors, such as rising sea levels, extreme weather events and rising temperatures. The wide-ranging impacts of climate change, including that from maritime transport, and their potential implications for trade, economic growth and development, underscore the need to integrate climate considerations into strategies for transport planning and development.Increasingly, it is being recognized that considered and concerted actions are urgently required to ensure effective control of greenhouse gas emissions and to establish the requisite adaptive capacity in the shipping industry, especially in developing countries. Recognizing the importance for the maritime transport se ctor of contributing to global efforts at reducing emissions of greenhouse gases, IMO’s Marine Environment Protection Committee (MEPC) is considering a number of mitigation measures aimed at reducing emissions of greenhouse gases from international shipping. Integration of Shipping Industry with Global Logistics and Supply Chains Global shipping majors, like other segments of the conventional transport industry, are increasingly getting integrated with the emerging global logistics and supply chain activities, owing to both external and internal dynamics.Many firms are entering into the enhanced canvas of offering logistics solutions, such as door-to-door delivery systems, integrating with rail/road haulage movements of cargo, customs brokerage, cargo consolidation, packaging/ re-packaging, and distribution services, thereby substantially consolidating their market position, and supplementing their ocean freight income. The global shipping industry is thus going through a maj or redefinition by undertaking logistic integration of their cargo operations. Change in Directions in Trade Volume Multi-polarity of trade flows, and the growth in trade volumes of Asian region is expected to impact the world shipping, as profoundly done by liner shipping and containerized cargo some decades ago.The earlier phase of trade volume witnessed shipping growth in Transatlantic and Transpacific routes, and the growing volume of world trade, especially from Asia, is likely to position the Pacific Rim and Indian Ocean Rim routes in the lime light. Common Port to Specialist Port Ports have been conventionally viewed as provider of omnibus solution to all types of cargo on a common basis. However, the global trend is veering into development of freight specialized ports – such as LNG terminals, container terminals that involve high capital costs and intensive deployment of cargo handling equipment. Also, there has been a global trend in the port sector towards growing separation of port authority from port operator.The balance of power in the maritime trade, which was traditionally in favor of shipping lines, has been shifting in favor of shipper, whose cargo is being moved. With such emerging trends in port development in the world, shipping companies are expected to change their strategies and offer solutions to suit such trends. Growth in Establishment of Transshipment Terminals Growth in long distance and containerized trade has led to the growth in establishment of transshipment hubs. It is not possible to establish direct shipping connections between every country because either there may not be enough volume, or the ports may be located distantly from each other. Therefore, a set of direct or transshipment connections are required to link all country pairs by maritime shipping.For this purpose, the transshipment terminals and intermediate hubs have been started. The world’s most important intermediate hub is ingapore, where 92% of its traffic is transshipped. The emergence of major intermediate hubs favored a concentraStion of large vessels along long-distance, high capacity routes, while smaller ports can be serviced with lower capacity ships. Consequently, the emergence of intermediate hubs has permitted liner services that would otherwise be economically unfeasible. Port Regionalization Ports, especially large gateways, are facing a wide array of local constraints that impair their growth and efficiency. Limited availability of land for expansion is among one of the most acute problems.This issue is exacerbated by the deepwater requirements for handling larger ships. Port regionalization is required when the ports are not able to handle additional traffic. Port regionalization refers to integration between maritime and inland transport systems, particularly by using rail and barge transportation, which are less prone to congestion than road transportation. Port regionalization and hinterland connectivity h as been growing over the years, with the objective of meeting the constraints faced by ports. Port regionalization helps in creating a regional load centre network through joint development of a specific load centre and logistics platform in the hinterland.This has led to the development of corridors leaning on rail or barge services connecting to inland terminal facilities, which act either as satellite terminals, load centers or, less commonly, transmodal facilities. Many port authorities, terminal operators, commercial real estate developers and local/regional governments have been actively involved in the setting of such facilities. Satellite terminals: These are tend to be close to a port facility, but mainly at the periphery of its metropolitan area (often less than 100 km), since they mainly assume a service function to the seaport facilities. They accommodate additional traffic and undertake services that have become too expensive at the port, such as warehousing (e. g. emp ty containers) and distribution.Satellite terminals can also serve as load centers for local or regional markets, particularly if economic density is high, in which case they form a multi-terminal cluster with the main port they are connected to through regular rail or barge shuttle services. For gateways having a strong import component, a satellite terminal can also undertake transloading function in a significant manner, where the contents of maritime containers are transloaded into domestic containers or truckloads. Load centers: This refers to a major intermodal facility load center granting access to welldefined regional markets that include production and consumption functions. It commonly corresponds to a metropolitan area where a variety of Intermodal / transmodal facilities: These link large systems of freight circulation either through the same mode (e. g. ail terminals serve concomitantly intermodal, warehousing, distribution and logistics functions. These tend to ta ke place in logistics parks and free trade zones (or foreign trade zones). The inland terminal is thus the point of collection or distribution of a regional market. The more extensive and diversified the market, the more important is the load center. If the load center has a good intermediary location, such as being along a major rail corridor, then freight distribution activities servicing an extended market will be present. -to-rail) or through intermodalism (e. g. rail-to-truck). In the latter case, the inland terminal assumes the role of a load center.The origin or the destination of the freight traffic tends to be elsewhere, particularly for transmodal freight. Current World Trade Situation World trade continued to recover in 2011, albeit at a much slower pace than in 2010. After a strong rebound of more than 14 per cent in 2010, the volume of world exports in goods decelerated visibly, to 7 per cent, in 2011. The level of total world exports had fully recovered to its pre-cris is peak by the end of 2010, but it is estimated to be still below the long-term trend level by the end of 2011. As has been the case with the recovery of WGP, developing countries, particularly Asian economies with large shares in the trade of manufactured goods, led the recovery.While the level of trade in volume terms has already far surpassed the pre-crisis pe

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History - Research Paper Example The paper will illustrate the diverse relationship that exists between Europe and the world and the different historical events that have that occurred in different parts of the world involving Europe. The French are one of the most influential European members having colonized numerous parts in northern, central and eastern Africa. The colonial rule of the French has often been compared with American imperialism. The Americas were once owned by the Europeans themselves before decolonizing, with the United States doing this between 1776 and 1783. Haiti, South and Central America shortly followed the United States and gained their independence from European rule. The loss of control in these parts of the world led the Europeans to focus their sites on Asia and Africa as they were still looking to expand their empire. On the European conquest for Asia, Vietnam was occupied by the French in the year 1858, with an attack on D Nang and the French established full control over the country by the year 1897. The Europeans always looked for places that were of substantial basis and economic value and in the case of Vietnam; rubber was the main economic generator for the country. However, other Asian countries also deemed themselves powerful and the Japanese were able to invade Vietnam and before withdrawing from the country after the Hiroshima catastrophe. However, despite previous Japanese invasion, the French were unwilling to recognize Vietnam as an independent state and this led to a war in which the French army was defeated in 1954. External influence did not end after this war as the American also played a role in the governing of the country to the extent that there was a split between the anti communist and communist parts of the country. The involvement of the United States in and the formation of a partnership with the

Pinciples of Assesment Essay Example | Topics and Well Written Essays - 1500 words

Pinciples of Assesment - Essay Example The idea here is to ensure the complete transfer of knowledge to the learner and the purpose of assessment is to deduce the level of success that has been achieved in this transfer of facts, for e.g. a history teacher tested students on the topic of American Revolution in order to find the amount of information grasped by the students on the subject, an obvious affect of this assessment would be a feedback and a possible repetition of the lecture for students who scored poorly on the test. It leaves no ambiguity in the fact that The Victorian standards aim at helping out the appraisee rather than the appraiser. In comparison to this the Griffin & Gills principles of assessment aim to measure the collective affect on a group i.e. the person being evaluated and the group which is being affected by his/her performance. Moreover the Griffin & Gills methods can be utilized in the selection and recruitment or in case of students for admitting them into an institution as implied by the following principle "able to be used for purposes of selection and recognition; encourage learning of higher order skills", though the second part of the statement refers to the case of individuals who already a part of the institution or an organization the first piece is in contradiction to Victoria standards which intend to evaluate existing pupil. Victoria principles for assessment stress on the evaluation procedure to be an ongoing process i.e. students should be tested throughout the semester to use the test result attained throughout the period to be used as a basis for assessment. In contrast to this the Griffin & Gills seem to be referring to an episodic process of testing. Victoria's principles are open to moderation in times of need whereas the Griffin & Gills are based on fixed measures and these are beyond the influence of the appraiser unlike the Victorian standards. Assumptions Victorian Essential Learning Standards It has been assumed that assessments affect the students and parents and the outcome of assessment on the institutional goals and standards has been ignored. It can be seen throughout the course of points none of which relate to the effect on the teacher or the institution in the event of an unreliable or biased assessment. One major assumption made is that teachers could moderate their evaluation procedure if they cite the need for it. One should not forget that individuals have different personalities and thus they set different goals for the subject they teach moreover no two courses in the curriculum are exactly similar to have same goals. For e.g. History and Mathematics are in no way similar and the instructors in these courses might not have identical plans for assessing students. Under these circumstances the protocols of an institution would press on conformity in the procedure of assessment and hence the idea of moderation in techniques by individual teacher is rarely functional. Griffin & Gills set of principles It has been assumed that there exists a possibility of drafting plans that would completely reliable and would eliminate alternative explanation for results. This principle is a mere hypothesis which on test might not hold to be true. External influences always exist in the evaluation and research has proved that

The Relevance of CD Sleeve Design in Todays Market Essay

The Relevance of CD Sleeve Design in Todays Market - Essay Example The focus of this paper is to explore the role of the CD cover in today’s emerging market of instant access to music Vis a Vis the internet. Virtually any song by any artist can be downloaded to our computer in a matter of minutes. We will discuss the future of the CD cover in relation to this emerging trend. Like the CD replaced the vinyl record album, will MP3s replace the necessity for CDs and their artwork? However, before we look to the future of this art form, we need to first understand its past Section one of the paper will look at the history of the album cover and how it evolved to the artwork of the CD cover from inception to current use. The purpose of the cover will be discussed. Next we will discuss the relevance of the cover and lastly the outlook for its future. As we make our journey from the past to tomorrow visual representation will be used. It is true what they say at times, â€Å"A picture speaks a thousand words.† Album covers are indelible symbols of what can happen when the boundless creative forces and extravagant minds of the world’s most successful artists and musicians collide. When you add an infusion of corporate label politics plus a significant historical context, the results are anything but ordinary. Columbia Records came into existence in 1939. It was there that a fledgling graphic designer by the name of Alex Steinweiss developed an idea that would revolutionize the music market and change forever how we viewed the modern phonographic album.

Market Segments and Targets Assignment Example | Topics and Well Written Essays - 250 words - 1

Market Segments and Targets - Assignment Example Market segments are crucial to business success owing to a number of reasons. An understanding of the market segment one serves helps them to understand the needs and wants of their target market thereby increasing their marketing opportunities. The business is also able to create a solid customer base since the customers realize their value to the firm and appreciate the fact that their needs fit consideration. Segmentation also helps a business focus on the little differences in the market that give them a competitive advantage over their competitors. They are also able to profile their customers and understand the market landscape (Kotler & Keller 2012). In this age of technological advancement, businesses need to stay updated so as to keep up with the upcoming trends in terms of technology. The internet is useful for marketing. It may also be a particularly useful tool for businesses that wish to launch a new product. The global net has made the world a global village, hence very useful in marketing. However, in marketing by use of the internet one ought to take special care and ensure the target market is in mind when choosing the target market. One cannot use the internet to advertise goods to a remote village with no electricity. The market targeted by an entity will have a significant effect on the outlook of its website. When developing a website the business will consider its target market. One cannot design a sophisticated and complex site when targeting the elderly. When dealing with the erratic teens, the site needs to be colorful and fun. An entity will also decide on the content of the site depending on the market.  

The Relevance of CD Sleeve Design in Todays Market Essay

The Relevance of CD Sleeve Design in Todays Market - Essay Example The focus of this paper is to explore the role of the CD cover in today’s emerging market of instant access to music Vis a Vis the internet. Virtually any song by any artist can be downloaded to our computer in a matter of minutes. We will discuss the future of the CD cover in relation to this emerging trend. Like the CD replaced the vinyl record album, will MP3s replace the necessity for CDs and their artwork? However, before we look to the future of this art form, we need to first understand its past Section one of the paper will look at the history of the album cover and how it evolved to the artwork of the CD cover from inception to current use. The purpose of the cover will be discussed. Next we will discuss the relevance of the cover and lastly the outlook for its future. As we make our journey from the past to tomorrow visual representation will be used. It is true what they say at times, â€Å"A picture speaks a thousand words.† Album covers are indelible symbols of what can happen when the boundless creative forces and extravagant minds of the world’s most successful artists and musicians collide. When you add an infusion of corporate label politics plus a significant historical context, the results are anything but ordinary. Columbia Records came into existence in 1939. It was there that a fledgling graphic designer by the name of Alex Steinweiss developed an idea that would revolutionize the music market and change forever how we viewed the modern phonographic album.

Scottish Folk Music Essay Example | Topics and Well Written Essays - 1000 words

Scottish Folk Music - Essay Example It was introduced in the Scottish music industry many years ago (around the 15th century) and was recognized as a family and professional instrument. It passed on from generation to generation. The bagpipe is used in dances all across Scotland. Also, singing along with the music played from traditional instruments like Harp and bagpipe is also a common practice in Scotland. Some Scottish music is also specific to certain region and hence all in all, Scottish folk music is considered to be very unconventional and diverse. Many different musical instruments are used in playing Scottish music. One such instrument is the accordion which is mostly used by the countryside musicians. The bagpipe is another very popular instrument and it has already been discussed earlier. The Fiddle has been used to create regional music and is said to have evolved over time. It is used for playing cheerful and lively beats. The guitar is considered to be new in Scottish music and the harp, which is treated as an ancient musical instrument. Although Scottish music was never dull enough to be revived, it is said that Scottish music underwent a revival in the 1960s. Scottish singers always had an international following and heavy sales, in 1960s came the innovation to rejuvenate the spirit of the music. In 1970s, the music evolved from being completely a solo affair to being a band. In the 1980’s duos started and a popularity of rock and metal was observed. Ad in the present times, Scottish music is enjoyed in the form of symphonies and operas. Also Jazz is especially liked in Scotland and numerous famous artists have played their part in mingling Jazz with traditional Scottish music. One vocal genre of Scottish music is the Bluegrass music. It is a form of Jazz and is symbolized by tunes called breakdowns. It’s just like the old-time music in which only one instrument would dominate and continue to be played while other instruments would accompany it. Different people fro m all over the world like Bluegrass music and enjoy it. It is played on traditional acoustic music string instruments. It is also characterized by upright bass and guitar. But apart from instrumentation, the distinguishing aspect of Bluegrass music is the vocals. Inclusion of other musical instruments like accordion, harmonica, drums, harp and electric guitar resulted in an evolution of Bluegrass to Newgrass. Vocals are also done very differently with two, three or four parts. It is done with a deviating sound in the highest voice. This style of music is called ‘high lonesome sound’ The music itself is influenced by the music of African Americans. The orientation of the vocals and its synchronization is called Stack. A stack principally has a background voice, a main lead voice and a tenor voice. However, it is not necessary that one sticks to this sequence while singing a stack especially when female voices are included. The early days of the genre followed this trio t ype arrangement. Famous vocalists in this field include Alisson Krauss, Howard Watts and Osborne brothers. Blue grass music is enjoyed all over the world because people can easily relate to it; it is actually a narration from the everyday lives of people. This might include their love life, other tensions, unhappiness with changes that were unwelcomed or financial burdens that people face. It ranges from discussing the difficulty of living in

The Changing Nature Of The Employment Relationship Business Essay

The Changing Nature Of The Employment Relationship Business Essay Problems faced by mangers. Business environment is changing drastically in todays corporate world. In early years of current management era manager were suppose to work exclusively with equipments, data and systems; performing traditional tasks. But scenario of management responsibilities has been changed significantly and todays manger faces issues like cross training, personnel management , interdepartmental communication and widening job scope. Globalization is shaping and re-shaping business environment, resulting in increase of competitors, demand of new sourcing strategies and facing new markets with new demands. Irregular flow of information often subject to quantitatively strong fluctuations, controlling the flow of information is necessary otherwise these fluctuations can become detrimental. Information controlling is the analysis, evaluation and importance attached to the data that collected and provided with the data under various criteria. Because day by day managerial job is becoming more and more hectic manager needs to continuously look for new ways to improve speed and quality along with reduction in rising cost. Rising costs is another problem for the managers. Rising in the cost of services and wages is becoming more and more troublesome for managers. In current environment there is no guarantee of the employees being loyal to company, then in that case, to get more money employees ask for higher wages. Also there is requirement to keep the cost of services, provided by company under constant watch. If company starts loosing because of rising service cost then mangers put attention to solve this issue. As complexity of electronic data processing increases, security often decreases. Not only does this pose problems in the form of breaches, it also has legal ramifications with regard to license. This problem especially faced in IT industries. IT companies buy very expensive software and after some months or years new version comes up, then again managers need to change their strategy along with change in technology. Customers may want to change or upgrade to new technology, then managers has to negotiate for the money and services, this may lead to unsatisfactory customer service. Mainly following are the main challenges faced by todays managers Responding to Globalization: Various forces of globalization are reshaping the business environment generating new competitors and demanding new sourcing strategies and market. In dynamic market situations its very hard for managers to predict any concrete goal and strategy for the business development. Short term strategy may work very well but for long term, goal setting is the problem. Again dynamic market conditions of global economy make the profit prediction shaky. No one is able to predict the variations in the profit and losses, business can make. Responding to globalization is becoming more and more important; this result in redefining business model. Today change is happening at a rate that does not afford organizations the luxury of managing one major change at a time. Today managers are facing two questions because of globalization, how does relentless change redefine the nature of management and the structure of an enterprise? And what role should management play in re-s haping the enterprise? Managing work force diversity: Because of globalization and open market system for business, management has to face diversity in work force. Now a days businesses are spread over different cities in various countries. Thus many times not only gender and age diversity, but cultural diversity becomes essential to manage work force. Basically heterogeneity of people becomes challenge for the managers because of variations in the ethics, motives and working culture. Improving quality and Productivity: Main problem for the management is to decide, what is to produce, how much is to produce and where is to be produce. Management has to decide either to produce different products or to emphasis on one product. Once deciding this, managers have to make sure that the quality of the product is good. It takes long time for the organization to create a market about the product; but if there is any lacuna in quality and productivity then because of high competition its become hard for the product to sustain in market. Improving customer service: Improving customer service is sometimes managers think they will get around to in time. But that time rarely comes. Changes in the requirements or changes in the taste of customers become hurdle in the improvement of customer service. To solve this issue many times managers try to set up scenarios that challenge employees and cover the full range of customer requests. At times management also keep two scenarios running parallel and asks employee to maintain balance. Along with above problems managing labor force is again a challenge for managers. Now days there is no unwritten contract of being loyal to an organization, because of this many employees seems to be fired from the organization or they leave the organization for getting good salary job. In the absence of contract between employee and organization, employee may decide to leave an organization in the middle of project work. This is very challenging situations for managers to deal with. To overcome these challenges managers have to modify the working culture. Managers need to be aware of the skills of their subordinates and people under them. Empowering of employees is the best way to get maximum output from them. People get bore because of routine work, then to get more output managers can make changes or innovations in the working style. Along with the challenges discussed above, managers have to make efforts to understand their employees. If managers are able to gel with their employees then only employee will be happy to work with the manager, and he/she will be ready to face or tackle the challenges faced by managers. By knowing employee managers will be in a position to understand the working capacity of employees and allocate the work accordingly. This will also help for the performance appraisal and to know liking of an employee about the job and the work allocated to him/her. Conclusion: Considering many changes in the working environment and globalization todays managers are facing many new challenges comparing to previous years. Todays managers are coming up with new ideas and theories about the challenges faced by them. Inflation and changing rates of foreign exchanges are also creating challenges to managements, to handle this managers have to come up with new innovative ideas. Introduction The shift from a manufacturing economy to a services economy from production of goods to production of ideas, and from the machine age to the information age has been accompanied by many transformations. Rather than producing goods, the service firms produce ideas. Organizations in the services era, such as software, financial services, and biotechnology firms, depend on intellectual capital. People create intellectual capital and are therefore, the most valuable asset of a firm. Even the environment within which firms conduct business today is very different and much more complex and dynamic when compared to the environment fifteen years ago. Firms no longer compete or operate nationally only. Organizations are no longer governed by the business, legal and political environment of their own nations only. As the world becomes one global playing field, the environmental changes in countries other than the home country of a firm affect business decision and the performance of firms. Se veral societal and global phenomena have challenged the management of human resources. Thus, changes in the economic, business, social and cultural environments have brought about a transformation in the HR function and the roles and responsibilities of HR professionals. Some of the significant environmental trends and changes faced by HR managers that pose major challenges are as follows: Trends in the business environment The changing nature of work Demographic, societal and work-force trends The changing nature of the employment relationship. Globalization of Business A major environmental change that has taken place in the last fifteen years is the globalization of business. The world has become a global village and business has become global in character. Organizations are venturing beyond national boundaries in the pursuit of business opportunities. Toyota Motor Corporation makes cars in USA and India, Mc Donalds sells burgers in India and hamburgers in China, and Marks and Spencers sells products in India. Every other product sold by Wal-Mart stores Inc. is made in India. This is the time when buildings are conceptualized in the US designed in India and built in China. Very recently, Ford Motor Co. (Ford) announced its plans to invest $ 1 billion in products and plants in the Asia-Pacific region in the next few years to maintain its presence in the fast-growing markets. Outsourcing has made India a Manufacturing hub, especially for the automobile sector; with cheap labour providing one of the competitive advantages. Government policy reforms and growth against an appreciating rupee have also facilitated this trend. Large numbers of manufacturing assembly jobs that require low skills have moved from the US and Western Europe to developing countries like China, Thailand, Malaysia, and India. Indias manufacturing and services companies invested $10 billion overseas in 2004. The top 15 Indian IT, software and related companies have invested mostly in developed countries. Like the IT and automobile industries, domestic hospital chains from India, such as Apollo Hospitals Group, Fortis Healthcare and Max Healthcare Institute Private Limited, also have ambitious expansion plans in markets as far away as the US, UK, Mauritius, and South-East Asia. Multinational corporations require employees who can adapt to different cultures, customs, social practices, values, economic and political systems and management approaches, who can work with other employees from differing backgrounds. This has caused new challenges for HR managers. The HRM function of a company must develop systems that will help individuals from different cultural backgrounds to work together. Human resource managers must ensure that employees with the requisite knowledge, skills, abilities, and cultural adaptability are available so that they may be successful in global assignments. Foreign investment is no longer something that flows only from a developed country to a developing one. Indian companies are on an expansion drive. Indian business houses, like the Tata Group and firms like Ranbaxy Laboratories Limited (Ranbaxy), Wipro Limited (Wipro), Sun pharmaceutical Industries Limited, Crompton Greaves Limited, Asian Paints, and Cognizant Technology Solutions, have struck merger and acquisition deals world wide to become global players. Acquisitions by Indian companies have now become strategic in nature, by which they have been able to take leadership positions in Asia. The table 1.1 depicts major Human Resource Challenges faced by modern businesses in the present scenario. Table 1.1 Environmental Trends and Human Resource Challenges Sr. No. Environmental Trends Human Resource Challenges 1. Business Environment Globalization and increased competition Managing a global workforce. Ensuring availability of employees who have the skills for global assignments. Focusing increasingly on employee productivity to ensure competitiveness. Ensuring legal compliance when conducting business abroad. Mergers and Acquisitions Managing employee insecurity. Ensuring continued employee productivity. Developing HR initiatives to manage employee morale. Downsizing Managing organizational relationship with survivors Managing morale and commitment of survivors Providing outplacement services or relocation for employees who lose jobs. Providing personal and family counseling to employees who lose their jobs. 2. Changing Nature of Work Industry and Occupational shifts Managing workforce with flexible working patterns. Focusing on competencies during hiring process. Designing incentive based compensation. Developing proactive employee development programmes. Technological Advancements Managing a virtual workforce. Managing employee alienation. Developing training modules and conducting programmes to provide employees with required skills. Retraining current employees to mange obsolescence. Providing work-life balance initiatives. Outsourcing Manage employee concerns about losing jobs due to outsourcing. Managing employee morale and productivity. Flexible Work Arrangements Managing the loss of organizational control over work. Developing programmes for motivating the flexible workforce. Developing ways of ensuring commitment of the flexible workforce to the firm. 3. Demographic, Societal, and Workforce Trends Workforce Diversity Workforce Composition Devising customized HR strategies for hiring, retaining, and motivating employees belonging to different generations. Developing life-style driven perks for the new generation employees. Developing work-life balance programmes. Workforce Availability Ensuring the availability of skilled talent to fulfill organizational needs. Ageing population and workforce Finding replacement for retirees. Managing the demand-supply gap for qualified managerial talent due to a large retiring workforce. Developing mentoring programmes to ensure the skills of experienced mangers are passed on to new managers. Obsolescence training and retaining of older employees. Managing retirement policies. Conducting programmes to retain experienced employees. Educated and knowledge workforce Ensuring the continued supply of trained manpower. Training new hires. Partnering with universities and developing academic initiatives to meet projected shortage of skilled manpower. Training employees in computer skills, communication skills, and customer handling skills. Emphasizing re-training and development activities. Women in workforce Strategizing to attract and retain educated and skilled women workers. Conducting programmes for women who opt for career breaks. Providing facilities such as crà ¨ches, flexible working hours, etc. Changing family structures Developing work-life balance programmes. Global Workforce Developing diversity training programmes. Developing HR initiatives directed to workforce diversity. Identifying and training expatriate managers for overseas assignments. Developing equitable pay plans for individuals working in different countries. Contingent Workforce/workforce flexibility Developing systems to motivate the temporary workforce and elicit commitment from them Helping the temporary employees to quickly adapt to the organization to reach their full potential 4. Changing Nature of Employment Relationship Offering challenging jobs to employees. Managing rewards for enhancing employee performance. Providing opportunities for enhancing skills through training, development, and educational programmes. Developing programmes for employee commitment. Understanding value differences across different employee groups and customizing HR programmes. Source: Agarwala, Tanuja, Strategic Human Resource Management, Oxford Publication, 2007. Another recent change faced by HRM in the present business scenario is that of Mergers and Acquisitions. Companies today need to be fast growing, efficient, profitable, flexible, adaptable, and future-ready and have a dominant market position. Without these qualities, firms believe that it is virtually impossible to be competitive in todays global economy. In order to gain access to new markets and fresh ideas, companies often choose to grow via Mergers Acquisitions (MA) rather than concentrating their efforts on their own business activities. Such inorganic growth is often viewed as a faster way to achieve growth for the company. Especially in technology driven industries, where growth is often accelerated through increased innovations, and one way for the firms to compete is to align themselves with those companies that are developing the innovative technology. Such alignment is achieved through MA activities. Successful manifestation of such activities involves complex procedures and processes in order to integrate both organizations and align them as per a common unified objective. It has created certain problems for an organization. One of the problems associated with MAs is the retrenchment of staff that becomes surplus due to rationalization of operations. For example, in the financial services sector, MA activity between 1996 and 2006 caused an aggregate employment decline. Due to MA, sector experts predicted a loss of more than 300,000jobs in the banking sector between 1999 and 2002. When negotiations for MA are on, employees of the concerned firms are subject to several rumours that cause insecurity about the future. Thus, HRM is faced with several challenges before, during, and after the MA decision. In the present era, the competitive advantage of organizations is linked to knowledge. There is a lot of emphasis placed upon dissemination of knowledge, and knowledge workers within organizations. Therefore, there is an increased focus on management of the knowledge resource in organization. Thus, in the 21st century, the HRM function has a key role to play in shaping the competitive position of the organization. To compete effectively in the knowledge economy, a firm must have what Ulrich calls organizational capabilities.HRM plays an important role in creating, developing, and managing the organizational capabilities that are necessary for competing in the knowledge economy. Human resource mangers have to create effective teams within a diverse workforce; tap talent throughout the organization by recruiting, retaining, and developing people at all levels; build and integrate cultures as mergers and acquisitions become common; and develop employee commitment toward organizational v ision. Human resource management is confronted with major challenges in the present knowledge economy. Thus, HRM is no longer simply focused on managing people or confined to traditional HR functions rather; it is now responsible for managing the capabilities within the organization. The Table 1.2 given below elaborates upon the challenges facing HRM in the knowledge economy. The four major HRM roles in the Knowledge economy are as:- Human Capital Steward Knowledge Facilitator Relationship Builder Rapid Deployment Specialist Technology has had a tremendous impact upon the global business environment. Communication, transportation and production efficiency are various areas of business which have been enhanced by the development and improvement of technology. As continual enhancements are made, the world continues to grow smaller and businesses have further reach than ever. Computers The most important technological development to impact the global business environment is the world of computers. There are various programs which help maintain records of inventories and shipments. Email allows for instantaneous communication almost anywhere in the world. Besides its speed, email is easily forwarded and retained. The communication in the global business environment is improved with the use of email. The impact of computers on the global business environment is wide-ranging and also includes the Internet, which is a useful tool for international companies. By using the Internet, companies across the world can perform research and learn more about partners and suppliers. Conference Calls and Video Conferencing Conference calls allow people in multiple locations to be involved in the same conversation. Video conferencing provides the same service, but with the added benefit of all parties being able to actually see each other. Both of these forms of communication have a definite impact on the global business environment. With either form of technology, a parent company in Norway can have a conversation with a raw material supplier in Brazil and a manufacturing plant in Taiwan. This improves communication on a global scale and enables all parties to understand specific plans and agreements. Sponsored Links Import export Find quality suppliers on 20-23 Apr Register for free trade admission! www.hktdc.com Transportation The shipment of raw materials and finished products is absolutely vital to any business, but particularly those with an international scope. Transportation technology enables a company on one continent to send its raw materials or products to another company in a different continent. Technological advancements in airplanes, cargo ships and railways allow for quicker, cheaper delivery, which impacts business by making global distribution more feasible. Manufacturing Technology Increased efficiency of manufacturing plants has a certain impact on the global business environment. By having the capacity to produce materials and products more quickly and efficiently, a company is able to produce quantities needed to supply global demand. Robotic technologies and factory lines have enhanced the speed at which materials and products are manufactured. For a company to be a player in the global business field, it must be able to keep up with demand. Shipment Tracking Corporations now have the ability to track shipments virtually anywhere across the world. Global Positioning Systems (GPS) allow accurate tracking. The implication of this technology on the global business environment is the ability to let customers know exactly where their shipments are at any given time. This technology creates secure relationships within the global business field. Competitors fill a need for business owners by keeping them on the cutting edge. Without competitors, a business would have no reason to keep prices in check. It would create a monopoly which is never good in any society. When two competitors compete for business, the market (customers) are the ones who decide who they will patronize with their dollars. Prices are usually the first element people choose when deciding which business or product to go with. Competitors drive innovation and keep new ideas and procedures moving forward. Imagine if McDonalds were the only fast food hamburger restaurant in the world. There would never be a Burger King to compete. All food would taste bland and boring. Everyone is always looking to build a better mousetrap Many consumers and social advocates believe that businesses should not make a profit but also consider the social implications of their activities. We define social responsibility as a businesss obligation to maximize its positive impact minimize its negative impact on society. Although many people use the terms social responsibility and ethics interchangeably, they do not mean the same thing. Business ethics relates to an individuals or a work groups decisions that society evaluates as right or wrong, whereas social responsibility is a broader concept that concerns the impact of the entire businesss activities on society. From an ethical perspective, for example, we may be concerned about a health care organization or practitioner over- charging the provincial government for medical services. From a social responsibility perspective, we might be concerned about the impact that this overcharging will have on the ability of the health care system to provide adequate services for all c itizens. The most basic ethical and social responsibility concerns have been codified as laws and regulations that encourage businesses to conform to societys standards, values, and attitudes. At a minimum, managers are expected to obey these laws and regula- tions. Most legal issues arise as choices that society deems unethical, irresponsible, or otherwise unacceptable. However, all actions deemed unethical by society are not nec- essarily illegal, and both legal and ethical concerns change over time. Business law refers to the laws and regulations that govern the conduct of business. Many problems and conflicts in business can be avoided if owners, managers, and employees know more about business law and the legal system. Business ethics, social responsibility, and laws together act as a compliance system requiring that businesses and employees act responsibly in society. Business ethics are moral principles that guide the way a business behaves. The same principles that determine an individuals actions also apply to business. Acting in an ethical way involves distinguishing between right and wrong and then making the right choice. It is relatively easy to identify unethical business practices. For example, companies should not use child labour. They should not unlawfully use copyrighted materials and processes. They should not engage in bribery. However, it is not always easy to create similar hard-and-fast definitions of good ethical practice. A company must make a competitive return for its shareholders and treat its employees fairly. A company also has wider responsibilities. It should minimise any harm to the environment and work in ways that do not damage the communities in which it operates. This is known as corporate social responsibility. Codes of behaviour The law is the key starting point for any business. Most leading businesses also have their own statement of Business Principles which set out their core values and standards. In Anglo Americans case, this is called Good Citizenship. A business should also follow relevant codes of practice that cover its sector. Many companies have created voluntary codes of practice that regulate practices in their industrial sector. These are often drawn up in consultation with governments, employees, local communities and other stakeholders. Anglo American has played an active part in initiatives such as the Extractive Industries Transparency Initiative, the United Nations Global Compact and the Global Reporting Initiative. Anglo American has also contributed to the Voluntary Principles on Security and Human Rights. This code sets out principles and practices for ensuring that a companys need to ensure the security of its employees and operations in volatile countries does not adversely impact upon the local population. Thus the Principles provide guidance on how both private and public security forces assigned to protect a mining operation or an oil and gas facility should be vetted, trained in human rights, monitored and controlled. Anglo American also aims to ensure that it plays a role in protecting the human rights of its employees and local people in countries in which it operates. The company supports the principles set forth in the Universal Declaration of Human Rights. All companies need to make a profit. However, Anglo American recognises that this objective must take account of ethics as shown in its statement on corporate responsibility: Though providing strong returns for our shareholders remains our prime objective, we do not believe that these can or should be achieved at the expense of social, environmental and moral considerations. Indeed a long-term business such as ours will only thrive if it also takes into account the needs of other stakeholders such as governments, employees, suppliers, communities and customers. Stakeholders An important process used by Anglo American is that of stakeholder engagement. This enables it better to understand the perspectives and priorities of external groups that are affected by its activities and to factor them into its decision-making processes. To support this work at a local level, Anglo American has developed a Socio-Economic Assessment Toolbox or SEAT process. This toolbox helps managers to measure the impact of activities on the company and communities. It also helps to improve a mines contribution to development through, for example, using its supply chain needs to generate new businesses or to improve the water or electricity infrastructure. They use this toolbox to engage with stakeholders including community representatives. Sometimes communities have to be resettled, with government sanction, in order for important mineral deposits to be accessed. This can cause controversy and divisions in the communities concerned. International best practice sets out a number of key stages in such a process including the need for structured consultation, fair compensation and the importance of restoring and enhancing the livelihoods of people in their new locations. Recently Anglo American has had to undertake two such relocations in South Africa at the villages of Ga Pila and Motlhotlo. These were undertaken with the support of the provincial government and local tribal leadership and after consultation with local people lasting for several years leading to agreement with each householder. New villages have been built with better houses and infrastructure and more land for farming. The relocation programme was voluntary. The relocation programme at Motlhotlo is still under way but at Ga Pila 98% of those living in the old village took up the offer to move to the new village Read more: http://businesscasestudies.co.uk/anglo-american/business-ethics-and-corporate-social-responsibility/what-are-business-ethics.html#ixzz2K6s8ohJR Follow us: @Thetimes100 on Twitter | thetimes100casestudies on Facebook