High Performance Working Systems Essay

High Performance Working Systems (HPWS) are defined as those in which management adopts a coherent set of practices that provide employees with; a) The opportunity to influence operational decisions. b) The skills and abilities to effectively participate in these decisions and c) The incentives to motivate discretionary effort. (Applebaum et al. , 1998) Smarter working- or high performance working is a distinctive approach to managing people at work that raises productivity and at the same time improves the well being of employees. Achieving high performance poses a major challenge for private and public sector organisations as they face ever increasing competition and more demanding performance targets. Its main rationale is that the way in which the people in the organisation are managed offers perhaps the best route to gaining performance improvement and competitive advantage. High performance working conventionally contains three core components that address the opportunity to contribute, competence and motivation of the work force. High performance working requires a workforce that possesses the appropriate level of knowledge and skills. If resources such as technology are to be considered, then it is likely that workers will need high level knowledge and skills. They must be able to work with new technologies, make complex deals or offer sophisticated services. Secondly, any competitive environment is evolving the capacity to innovate requires a workforce that not only possesses the requisite knowledge and skills but is also willing and able to continue to acquire new knowledge and skills. One of the key distinctive features of high performance working is that it should be viewed as a system. In other words, it is not enough to consider competence or motivation in isolation. Logically, there is no advantage in having highly competent workers who are demotivated or under utilised. Equally there are dangers in highly motivated but incompetent workers or high commitment in workers who are neither competent nor motivated. The challenge is to manage all four elements at once. No one has consistently defined, or even uniformly named High Performance Work Systems (HPWS). They have been called â€Å"high performance work practices†, â€Å"alternative work practices and â€Å"flexible work practices†. Despite the variances, many of these programs share common elements including selection procedures, vigorous recruitment and incentives based upon performance and extensive training programs focused on the needs of the business. Essentially High Performance Working Systems, require heavy investment in human capital. This is intended to enhance employee knowledge, skill, flexibility and motivation, with the expectation that the employer is providing employees the ability and the opportunity to provide input into workplace decisions. (Val Buren & Werner, 1996). Companies expect this empowerment to enable employees to adapt readily and quickly to rapidly changing product and labour market conditions, and to improve operational efficiency and firm performance. Although high performance work systems have often been seen as being good for both employers and employees, these practices require significant investments in human capital through training, coordination of initiatives, and time for managerial and employee input. Because of the large investment in human capital the value of these practices may be lost if the investment does not result in increased efficiency and effectiveness. High Performance Working Systems are usually associated with increased productivity. However, examining only productivity effects businesses ignores the cost side of the equation. Despite this caution, numerous studies also find a strong relationship between HPWS and firm performance. These studies consider both costs and the benefits of HPWS. (Huselid, 1995, Baker 1999). Performance of business can be measured on four dimensions: marketing, market share, profitability and sales growth. It is often argued that human resources have an important role to play in facilitating innovation. HPWS are focused upon such objectives as enabling people to think for themselves and to manage their work. High Performance Working Systems can increase innovation by: encouraging team practices that allow learning to go through increased multidisciplinary knowledge, decentralising management in order to allow employees to discover and use knowledge; encouraging team practices that allow learning to go through increased multi-disciplinary knowledge; and putting that knowledge to good use. (Laursen, 2002). High Performance Working Systems systematically try to create organic organisations by moving decision-making downward. If for instance the organisational objective is efficiency, more effective Human Resource Management (HRM) systems are likely to increase firm performance because HPWS effectiveness focuses on better production or service delivery system. In contrast when a firm pursue innovative activities they are more likely to benefit from HPWS since they move the level of decision making downward, making the organisation better able to respond to environmental changes. (Capelli and Neumark 1999) More extensive use of HPWS is positively associated with increased organisational innovation since they are done in a holistic, meaningful and effective manner. It matters how a firm employs its organisational capabilities and its ability to manage human resources because resources or practices do not produce on their own. (Russo and Fouts, 1997). Traditional Human Resource Management systems concentrate on an efficiency objective, offer stable procedures and protocols with set processes for dealing with routing employment problems such as discipline, absenteeism and discharge. These systems also establish procedures, and rules that promote consistency and fairness throughout the organisation. Thus an effective HRM system should enhance the firm’s ability to attract and retain qualified employees and promote efficiency. However, effective Human Resource Management practices most likely lack flexibility of High Performance Working Systems. If a firm is pursuing an innovation objective then effective HRM practices may interfere with this goal by focusing on routines and rules that do not provide an environment conducive for stimulating innovation. Furthermore, organisations that are structured to deal with stable routing tasks are less able to adapt to uncertain, dynamic environments. Many organisations today face complex environments. Firms’ management strategies must adjust and conform to the existing business environment. The present business environment demands that firms respond to change and, at the same time, promote efficiency. Thus firms that can combine effectiveness and flexibility objectives may be put in the optimal strategic position whether they are pursuing objectives of innovation or market performance. More extensive use of High Performance work systems with HRM effectiveness is positively associated with organisational innovation. The banking industry for example has become a highly competitive environment because of banking industry deregulation. The regulatory changes coincide with such technological advances as telephone banking, ATMS, pc-based banking and information system advances. The industry responded to the changes by a significant wave of consolidation that has reduced the number of banks. Regulations essentially prevented firms from implementing the full range of strategic choices. Deregulation frees financial institutions to exercise strategic choice. Since deregulation, many banks have introduced new products and services that do not fit the traditional margin-maximing scheme where margin is the difference between the loan rate and the deposit rate. Instead fee income such as origination fees from corporate cash management accounts, home mortgages and letter of credit have become an increasing important source of bank revenues. Hence, the proportion of total income generated by these alternative fee based products and services represents an important measure of banking innovation. (Pfeffer, 1994). HPWS universally benefit all employers. High investments in training and employees pay off in terms of employee commitment and work effort. However, these HPWS do not come cheaply, firms either need to offset these expenses with productivity increases or operate in an innovate environment that can absorb these costs. This makes HPWS less compatible with firms pursuing efficiency objectives and more compatible with firms whose success is more dependent on innovation as opposed to efficiency. A major benefit of High Performance Working Systems is to move the level of decision making downward to reduce the need for formal supervision so that employees are to think for themselves. These objectives may be of great importance for employers seeking to innovate or provide a responsive service but may be problematic for employers pursuing efficiency objectives. Employers who have highly developed hierarchical and formal structures that follow an evolved model of scientific management may not benefit from HPWS. These employers have designed formal roles and procedures specifically to avoid employees thinking for themselves. Thus it can be argued that employers with innovation objectives would benefit more from HPWS than would employer seeking a marketing efficiency objective (Capelli & Neumark 1999). There are three main set of potential benefits of high performance working system; organisational performance, the worker well being and labour turn over and retention. The major reviews that have been conducted in North America, Europe and elsewhere consistently show a clear association between application of high performance working and organisational performance. These reviews are cross sectional and therefore cannot establish clear cause and effect. It is therefore possible that the more successful organisations have the capacity to introduce high performance working. The ability to retain staff is an important feature of a high performance work system and is a key reason why commitment to the organisation can be considered as a core dimension. The presence of High Performance Working Systems is likely to encourage more people to stay with the organisation. This will help to justify the investment in higher performance working and will also feed into other performance outcomes in the sense that experienced staff who understand the business and its products can contribute to higher productivity and to a higher quality of goods and services. For some managers a concern for worker well-being may appear to be an outcome of marginal interest. Well being is usually defined as a combination of job satisfaction, mental and physical health and broader life satisfaction. Work related well being can be narrowed down to the first two but should extend to include work-life balance. There is evidence that workers who experience high performance work practices report higher job satisfaction. They are also more likely to participate in a range of extra activities and to report both better general health and better mental health reflected in less anxiety and depression. The only downside is some suggestion that under high performance working staff may experience greater work-related stress. This could be through highly committed workers tending to choose to work longer hours and to accept more responsibility. High performance working systems have received the endorsement of many governments and organisations. These include Chartered Institute of Personnel and Development (CIPD), Chartered Management Institute and Lisbon European Council for more and better jobs. HPWS face challenges and barriers. The skills for Business Employer Survey published in August 2006 shows some recent progress has been made in raising the uptake of individual high performance practices. However, one of the most reliable sources of evidence, the workplace Employment Relations surveys, show that in 1998, there was at best only modest application of these practices in workplaces across the UK and the 2004 survey shows that there has been very little if any further progress with implementation since then. There is evidence that levels of autonomy in jobs have actually been declining suggesting that managers are tending to assert greater control rather than trust in the competence and commitment of staff. Three factors prevent a stronger adoption of High Performance Working Systems. These can be summarised as ignorance, inability and doubts about the case. Some people especially managers have doubts about the benefits of high performance working. These doubts operate at a number of levels. First there is scepticism about the claim that people- or at least the current work force is the key basis for competitive advantage, allied to belief that priorities for performance ought to be directed elsewhere. Secondly managers are unwilling to take the risk of giving workers greater autonomy and control. There is evidence about a trend to reduce worker autonomy and reveals a generally low trust dynamic. Thirdly, there is doubt about the specific pay-offs and more particularly, whether they would generalise to their own work setting. Given these constrains, should we give up and leave High Performance working Systems to those few organisations that have managed to adopt it successfully and are reaping benefits? If relatively few firms are adopting HPWS working and it does bring benefits, then there is a strong case for gaining a lead on competitors. At the individual level, there is good evidence that workers benefit from being part of an organisation that engages in high performance working systems. Furthermore, job design aimed at enhancing levels of autonomy and control is likely to be associated with higher levels of well being. It will be associated with greater commitment and less likelihood of wanting to move on.

Financial Forecasting Checkpoint

Financial Forecasting CheckPoint FIN/200 Axia College of University of Phoenix Write a 200- to 300-word explanation of the reasons the following types of companies would need a financial forecast: brand new company, family-owned company, and a long-standing corporation. The reason type of companies such as brand new companies, family-owned companies, and long-standing companies would need a financial forecast is to develop projected financial statements; a series of pro forma.The information developed by a series of pro forma provide a sort of estimate on inventory, payables, receivables as well as what would be required for profit and borrowing. A projected financial statement provides a kind of advantage in any of the companies listed above as it gives the firm an insight on operations. A pro forma would help guide companies in deciding how to best operate and succeed.When starting a brand new company a financial forecast is essential. A financial forecast would help a brand new co mpany decide on how much inventory would be needed, cost of start up and production, and how much capital is needed. Obtaining a financial forecast would also help guide a brand new company on how much profit the company can make, whether a bank loan would be needed to start up and how many individuals can be hired.Family-owned companies need financial forecast just as much as a brand new company. A family-owned company would need a financial forecast for obtaining information from the simplest of things like how much inventory is in stock, profit sharing, expected expenses and profit for the future. A family-owned company would need a financial forecast to also make good decisions on continuing a successful business, which department needs revamped or tweaked.It is essential for a family-owned company to obtain a financial forecast to also estimate whether sales income would be enough to cover expenses and whether cutbacks need to be made. A long-standing company, even though it ha s been in business for a long time (hence the phrase â€Å"long-standing†) needs a financial forecast for the same reasons a brand new company and a family-owned company needs it. A pro forma (financial forecast) would provide a long-standing company with estimated future profit, expenses, cash budgets, and sales income. A inancial forecast can also help guide a long-standing company in making decisions on things like increasing sales, whether advertising is needed and whether certain investments prove to be worth it. Although, a financial forecast is just basic estimation of what is to be expected in the future it provides essential information that could help guide any type of company in the right direction. Starting a brand new company, a family-owned company, and a long-standing company all have something in common: producing a successful company in all aspects.

The Kiss Klimt

The Kiss Gustav Klimt The Kiss is a work that was painted by the Austrian artist, Gustav Klimt, between the years 1907 and 1908. Klimt utilizes his personal experiences and life changes as his inspiration for the creation of perhaps his most famous work yet. He links modernity and eroticism at the center of his work, the couple’s embrace. This embrace is a quintessential expression of one of the deepest passions known to mankind, sensual love. Klimt’s color choices, use of depth, line, and balance, are all techniques that contribute to the message he is trying to convey.This couple’s love radiates passion at its strongest, the love between man and woman, and the disconnect from reality they experience as they embrace. In order to understand the meaning behind The Kiss, one must know a little bit about the artist’s history. Klimt was born on July 14, 1862 in Baumgarten near Vienna. He studied architectural painting at the Vienna School of Arts and Crafts. B y 1880, Klimt and his brother collaborated and began working together. As a result, they garnered the attention of many new clients. Eventually, Klimt embarked on his own career path and started his professional painting career.He began by painting interior murals and ceilings in large public areas. In 1888, Klimt was even awarded for the murals he painted in Burg Theater. This particular mural portrayed the Golden Order of Orders from the empire of Franz Josef I of Austria. Klimt’s success and joy was quickly followed by tremendous grief when his brother and father tragically passed away, leaving him financially responsible for his family. As a result of this tragedy, Klimt’s art began to reflect the sadness and difficulty he was experiencing in his personal life.He continued on this path for a while, until he created The Kiss. Some say this painting was his magnum opus, his greatest work. Society immediately fell in love with his work, and he quickly regained his suc cess. In this work, Klimt illustrates two figures, one male and one female. They are entangled in what seems to be a passionate embrace at the center of the work. Their love immediately becomes the focal point. Their gilded clothing beams as it pulls the viewer deeper into the center of the painting, the very essence of work, the kiss itself.It quickly lets the viewer know that this is the main focus of the painting. The entanglement of shapes initially blends the lovers’ bodies into one, exposing only their hands, feet, and faces. However, when more closely examined, the viewer can see that there is a separation. Klimt uses rectangles and squares on the male figure, and more rounded and circular shapes on the female figure. So in spite of the fact that the figures are intertwined, and almost seem as one, the variations of the geometric rectangles and the organic flower pattern illustrates each figure as a separate entity.This juxtaposition between jagged and soft can also be viewed as a metaphorical representation of the contrast between the rough nature of man versus the sensitive nature of woman. Their tight embrace clearly expresses sensuality and intimacy, the powerful connection that only lovers can experience. This power is enhanced by Klimt’s use of color. Just as he juxtaposes contrasting jagged and soft shapes, he creates contrast through the juxtaposition of earth tones and vibrant colors against a golden background. Despite the array of colors and shapes that make up the majority of the painting, the focal point remains distinct.As mentioned previously, their emotion radiates. The couple’s faces are essentially all that is needed to portray Klimt’s message. Their positions create an extra element of interest within the painting. The man’s face is hidden, and only a quarter view is shown. This indicates a euphoric state as he is lost in the bewilderment of love. The women’s face, however, is in full view. He r expression reveals a sense of tranquility and satisfaction. Her eyes are closed as she allows herself to enter into this euphoric state as well.Her cheeks are flushed, hinting a climactic moment in her embrace with her lover. Color and technique is another major aspect of The Kiss. In creating this painting, Klimt gained inspiration from his travels to the Byzantine, the mosaics in Ravenna in particular. This inspiration is reflected in his use of gold and the arrangement of shapes. While the majority of the painting was done using golden hues (he uses actual gold leaf to achieve this affect), Klimt manages to apply all of the colors necessary to achieve intrigue and convey his message clearly.He uses vibrant colors such as; blue, purple, and green in the flowerbed. He strategically uses the gold by integrating it into the robes and vines that swathe over the figures and over the woman’s feet. He continues his theme of contrast and juxtaposition in his use of complimentary colors. The green in the flowerbed contrasts with the red in the woman’s dress, making her dominate and stand out. This contrast is even shown in the skin tones of the figures. The man has an olive complexion and the woman has a peach complexion, making her stand out even more.An additional component is Klimt’s use of depth. He uses a variety of sizes among his shapes to emphasize the curves of the figures’ bodies. The flowerbed beneath the figures indicates Klimt’s use of perspective. He allows the line of grass to blur, giving the illusion of space. The Kiss remains unique, unlike most of Klimt’s other work. Unlike the portrayal of women as femme fatales in his other paintings, Klimt portrays the woman in The Kiss as the protagonist. This is illustrated through the full view of her face, as well as the color of her complexion.Since the male is painted in deeper hues, it gives him a more dominant role. This is also illustrated by the way he stands over the kneeling woman and how he pulls her face over towards him. As one of Klimt’s most famous paintings, The Kiss is arguably a perfect composition of shape, color, line, and scale. Unfortunately, I have not had the privilege of seeing The Kiss in person, yet I still felt the intensity and passion that is illustrated in the painting. I was originally drawn to research this particular work because of its color and beauty.Only once I began to dissect the painting’s individual attributes did I discover that it is so much more than just a beautiful painting. It is a representation of love, the most passionate emotion of all. What originally began as awe and reverence for the artist, became envy towards the lovers. It makes me long to experience passion and love as the couple does in Klimt’ work. His genius is evident in his technique, but more so, in his ability to evoke an emotional response in the viewer.

Multimedia & design Essay Example | Topics and Well Written Essays - 1250 words - 1

Multimedia & design - Essay Example It is at the reflective level whereby issues of self-worth and personal values are found. With regard to Don Norman’s scheme, I believe that it is important to separate things such as visceral or aesthetic appreciation. Emotional appreciation is a very important element of life, brought about by emotion. Without emotion, people’s thoughts, feelings, therefore behaviors, would be made worse (Norman, 2004). Don Norman does not overcomplicate the importance of emotional appreciation. This is because he attribute recent advances in the scientific field when understanding the brain to his view on aesthetics and pleasure in design. Drawing a line between the systems affect and cognition of processing information, he, however, proposes that they are actually intertwined. It is the affective system that has the responsibility of making quick judgments as well as quick decisions, and helps analyze the objects available in the current environment, whether good, bad or dangerous. On the other hand, it is the responsibility of the cognitive system to interpret and understand the environment. It is for this reason that emotions are usually the conscious experience of affect. Based on given experiences and situations, the emotional system can prepare and modify the body as the cognitive system seeks to survey the changes. Therefore, the emotional system stage-manages cognitive processes and in the end, changes the way people think. Understanding and appreciating this interrelationship is what can empower designers to control the emotional position of users using aesthetics. According to Norman, creativity and open-mindedness are reduced, especially when people are affected by anxiety because of a narrowed field of thought processes. He also posits that on the contrary, when a learner or a user is relaxed and is in a pleasant mood, he or she becomes more creative, and is even more tolerable to small deficiencies in usability. Contemporary research carried out fr om Human Computer Interaction (HCI) suggests that aesthetics and usability can make people feel satisfied and pleasant, amplifying creativity and broadening the thought processes. He has also presented the three levels of emotional design, which are the visceral level, behavioral level and the reflective level. Separating things like visceral or aesthetic appreciation is important in multimedia and design because visceral design, for example, explores the emotional impacts of environment or an object according to the intrinsic physical features such as sound, look and feel. As important participants of the evolutionary process of nature, people continually receive influential emotional indicators from the environment. Worth noting is that people’s perceptions are produced in relation with the underlying principles of visceral design, for example organization, cleanliness and attractiveness; these attributes are inherent to the visceral processing layer and more importantly, c onsistent within cultures (Norman, 2004). 2. The Philosopher’s tool kit Each one of the nineteen chapters in this book look at the iPod mobile digital device acording to a philosophical perspective. According to the writer, the iPod is a cultural fact that is changing individual communities and lives in important ways. Tools of the philosophers that I believe will be useful to me in the future are with regard to the iPod’s effect on the community. The iPod has individuating and isolating characteristics, considering the disconnectedness of personal

How does each try to be entrepreneurial, while operating in highly Essay

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Quotes about education Assignment Example | Topics and Well Written Essays - 250 words

Quotes about education - Assignment Example A higher education blesses a person with techniques and tactics that can be effectively utilized to deal with the daily life agenda in a much efficient way, even if it involves stealing. The minor act of stealing from a freight car without education can be improvised into obtaining a legal hold on the entire railroad with education in addition to acquiring a stronghold in foreign policy. So the importance of education cannot be better emphasized than this quote. The author was a lawyer and a politician by profession and therefore was in a better position to understand the significance of formal education. The author, Ralph Waldo Emerson, lies due importance on the self-esteem of the pupil; this self-esteem plays a pivotal role for a student’s power of grasping the essence of education. Respecting the student provides him/ her with a self-confidence and motivation which drives them towards better accomplishment of study goals and objectives. A person who is drowning in self-pity and underestimation can never reach the aptitude required for a bright career. The author specialized in Western

Is English Intellectual Property Law Incapable of Protecting Essay

Is English Intellectual Property Law Incapable of Protecting Internet's Growth - Essay Example Thus, the question arises that are the existing English Intellectual Property Right Laws adequate and capable of protecting the intellectual property on the Internet from the unlimited means of infringing ways intellectual property thieves can think of? The roots of English Law of Intellectual Property can be traced back to 1709 when Statute of Anne recognized the copyrights of artists, musicians, painters and writers in their respective creative and original works. Later on, the Bern Convention in 1886 obligated all its Member States to amend their local laws to give due consideration to the copyrights of their local authors as well as to respect and provide adequate protection to the copyrighted works of foreign authors. Similarly, the Rome Convention in 1980 recognized the industrial rights of the inventors, designers and trademark owners obligating its Member States to provide protection to novel inventions, designs and marks that have the ability to distinguish the goods and ser vice from another person’s goods and service. However, the Internet was created in 1989 and its potential to disseminate information from one person to another was revealed after a long time after its creation. The intellectual property law, thus, was unaware about the legal implications which will arise once the Internet will become a social necessity of every person around the world. Most importantly, the Internet has become the virtual platform for the businesses, entrepreneurs, individual inventors, and intellectual property stakeholders to sell their products and services online without the need for spending substantial amounts on the physical assets, expenditures and human resources. The Internet allows the musicians, authors and artists to publish their work online for the viewers and readers from around the world to admire and purchase the work without waiting for years to get the music CD or the hardcover book. Thus, Internet has categorically contributed to the succ ess and popularity of the intellectual property owners around the world. On the other hand, Internet has also been criticized to become the ultimate haven for the intellectual property thieves to establish their black practices like illegal downloading of music, peer-to-peer file sharing, counterfeiting of original books, illegal copying of copyrighted pictures, illegally entering into private online databases, copying of software program codes, creation of multiple domain names using popular business trademark, passing-off one’s intellectual property as one’s own, stealing the trade secrets by hacking one’s computer and illegally infringing upon the patented inventions of the inventor and the scientists. The existing English Law of Intellectual Property comprises of Patents Act of 1977, Copyright, Designs and Patents Act of 1988, Trademarks Act of 1994 and Registered Designs Act of 1949 amended by Community Designs Regulation of 2001. These laws protect the cop yrights, designs, patents and trademarks from any use, copying, selling, importing and exporting, licensing and assigning. Moreover, the protection granted to trademarks, patents and designs is territorial in nature. Thus, if one country has granted a patent for an invention in one country, it does not guarantee similar protection in other countries too. Trade Related Intellectual Prop

HY 1110-08F-2, AMERICAN HISTORY I (HY1110-08F-2) Essay - 6

HY 1110-08F-2, AMERICAN HISTORY I (HY1110-08F-2) - Essay Example In the South, non-legislative means were used to intimidate former slaves from integrating into white society. One of these groups was the Ku Klux Klan. This group began as a pro-American group, but quickly decided that pro-white American was the real purpose of their organization. Changes in society in the North were occurred also. The northern abolitionist groups, having achieved their goals, found new topics to focus their energies upon. Coupled with the religious fervor of the Second Great Awakening, these groups attacked the many ills they saw in society. Specifically, the temperance movement and the womens suffrage movement became prominent forces for social change after the Civil War. The status of women in society began to change as well. In the North and South, most members of society of both sexes felt that a womens primary responsibility was to her family and within her own home (Clinton 1999). But a growing number of women believed that this primary responsibility should not prevent them from enjoying the same civil liberties as men, especially in regards to voting. Womens voices began to be heard in more prominent ways after the civil

Public Policy Issue in Healthcare Assignment Example | Topics and Well Written Essays - 1000 words

Public Policy Issue in Healthcare - Assignment Example The greatest impediment to the efforts to create a healthy society is the high cost of healthcare services in the country (Bryant, 2009). The high cost of health care casts a substantial number of people to premature deaths thereby subjecting millions of children to poor living conditions in the absence of their parents. The government acknowledges the problem and has since enacted a number of policies including the Patient Protection and Affordable Care Act (PPACA), or Affordable Care Act (ACA). The challenges the legislation continues to prove the importance of costs in seeking high-quality health care services there showing the need for a lasting resolution of the problem of high costs as the research report below investigates. Health is an integral issue in any economy. The health of a society influences the stability of the government while safeguarding the future of the population. The government must, therefore, seek to address the problems facing the community in relation to health care. So far, the high cost of managing some of the leading causes of death in the country such as cancer and heart diseases has proven to be a major factor that continues to frustrate the population. As such, the government should formulate realistic policies that enable the population to access high-quality health care services. The Patient Protection and Affordable Care Act is such a legislation that introduces a way for the citizens to afford high-quality services. However, the act has faced immense criticism and objection from politicians. The Congress among other organs of the government should strive to amend the law

Strategy Managment Assignment Example | Topics and Well Written Essays - 2250 words

Strategy Managment - Assignment Example The organization should continue with its online business strategy as it will help to gain more competitive advantages. The organization should implement aggressive marketing strategies in BRICK countries to increase its global market share. Threats Intense industry competition and economic downturn can affect the business performance of Tesco. Tesco requires huge marketing and investment to sustain in the international market. Overseas market revenue may reduce due to competition or economic conditions. Price war between the competitors can affect the profitability and large client base of Tesco. External Analysis PESTEL Analysis Political factors The market revenue and performance of Tesco depends upon the legislative and political conditions and European Union of these named countries. For employment in the country, government supports foreign retailer companies to provide jobs from lower paid, and flexible to high paid and highly skilled jobs to the students and other workers. Ec onomical factors Economic factors can largely influence the cost, profits and demand. High rate of unemployment level is the vital factor for economy. Unemployment rate would significantly decrease the demand of goods and also influence the demand required to produce the goods. Tesco highest market share is in UK, if in case of slowdown of UK market would affect badly on the company. Social factors Current trends for customer are now bulk and one-stop shopping. The amount of non-food products to be sold is increased by Tesco. UK retailers such as Tesco is giving attention towards the services and value-added items because due growth of female works and ageing population.... This paper approves the changes in business environment world create need for new services and products. The strategy of product development must be considered by company when developing new products for existing market. It also necessary to focus on internal development of Tesco when new products are produces for existing market. The expanding and diversifying the product development of Tesco would help to create customer relationship. Tesco can create new product line depending upon the need of the customers. Tesco should consider focus on extent and nature of diversification. The company which provide better innovative service and products can have better competitive advantage. Due to this unique store Tesco can use premium prices. To sustain in this competitive market, Tesco should maintain optimum quality on their internal strengths by implementing technologically innovative outlets and retail stores. This essay makes a conclusion the expansion of the market and to increase company’s revenue Tesco should enter into new markets like Japan and China. Survey shows that consumers in Asian markets have increased their spending and changing their trends towards retailing. This provides high opportunity for major supermarkets like Tesco. International alliance strategy should be used by Tesco. This can explained as entering in to the Asian markets by partnerships or joint venture. This will significantly provide huge market presence and large scale of economy. However, Tesco may feel it is high risk to be first mover depending upon the market complexity.

Staples - Goodwill Report Research Paper Example | Topics and Well Written Essays - 2000 words

Staples - Goodwill Report - Research Paper Example The company has its stores operating all around the world and delivering quality goods and services to the customers worldwide. It manages its goodwill and credible position through effective communication channels, proper employee management, valuing loyal customers and building a successful network of honest stakeholders for the organization. An effective management o the organizational plans and strategies, is what constitutes the goodwill. Besides this, being loyal and honest to the customers and maintaining a customer-centered attitude forms the basis of an advanced and organized goodwill plan. Thus, we can assume that the overall management and implementation of goodwill plan is the absolute need of an organization to operate successfully. This element has given rise to many success stories, such as that of Staples Incorporation. An elaborated goodwill plan of Staples is discussed ahead in this paper. Table of Contents Staples Incorporation 4 Communication 5 Customers 7 Employe es 7 Environment 8 Conclusion 9 Recommendation 10 Works Cited 11 Appendix 12 Appendix A 12 Appendix B 13 Appendix C 14 Illustrations Direct Competitor Comparison    SPLS PVT1 ODP OMX Industry Market Cap: 11.05B N/A 1.12B 626.71M 319.51M Employees: 52,919 N/A 40,000 30,000 2.75K Qtrly Rev Growth (yoy): 1.90% N/A -3.20% -2.80% 5.90% Revenue (ttm): 24.66B N/A 11.53B 7.10B 447.72M Gross Margin (ttm): 30.09% N/A 28.80% 25.63% 35.50% EBITDA (ttm): 2.09B N/A 235.86M 222.22M 26.40M Operating Margin (ttm): 6.47% N/A 0.25% 1.79% 4.32% Net Income (ttm): 891.42M N/A -116.36M 55.22M N/A EPS (ttm): 1.23 N/A -0.42 0.63 0.15 P/E (ttm): 12.59 N/A N/A 11.55 18.87 PEG (5 yr expected): 0.77 N/A -7.84 1.30 0.98 P/S (ttm): 0.44 N/A 0.10 0.09 0.75 Pvt1 = Lyreco Group (privately held) ODP = Office Depot, Inc. OMX = OfficeMax Incorporated Industry = Specialty Retail, Other Business organizations are operating in a very tough corporate environment these days. They are struggling hard to maintain their comp etitiveness along with being resilient, flexible and rulers at the same time. For this purpose, it becomes necessary for them to keep up their goodwill and take care of the performance and reputation in the market among tough rivals and cutting edge competition. Staples Incorporation Not every company is a success story. There are many organizations, both large and small scale, which are working in the rigid business environment. Similarly, staples is one such company which is attempting to pave its way through managing in building goodwill amongst the other market leader. The Staples Incorporation is one of the larger office supply chain store, which has more than 2,000 operational stores which are working in around 26 countries. The store has its main foundation in United States, Framingham, Massachusetts, and has its large network of retail stores operating all across the world. The retail outlets of Staples are all also involved in the business dealings and transactions with sev eral firms in numerous European countries and this is commonly referred to as the Staple Advantage (Bloom Energy, Online). The organization has built up its reputation in the market of furniture, supplies, promotional products, office machines, technology and other services to various businesses in both, physical stores and

Apush 1790s Essay Example for Free

Apush 1790s Essay Vital domestic and foreign events have occurred in the 1790s and were both what helped shape American politics. There were domestic affairs such as the Whiskey Treaty, establishment of the first bank of the United States, Alien and Sedition Acts, and discussion of narrow and broad views of the constitution. Foreign events include the XYZ Affair, Jay’s Treaty, and Pickney’s Treaty. There were two political parties that were shaped by these and many other affairs: Federalists and Republicans. The Federalists who supported Hamilton who wanted a strong centralized government, high taxes, and a national bank to find financial stability in the country. The Republicans were supporters of Jefferson who wanted to limit federal power, not create a national bank because of which they had a narrow interpretation of the Constitution. Hamilton, the Federalist, tried to repay the debt the U. S. had owed. This caused tension between the North and South creating the two parties: Federalist and Republican. A domestic affair , the Whiskey Tax was promoted by Hamilton which the tax money was used to pay off debts the U.  S. had owed. The establishment of the First Bank of the United States was what helped create the thoughts of Federalists of creating a financially stable nation. Though opposed by Jefferson saying that it would only benefit merchants and investors and hurt the rest of the country, it was established anyway. The Alien and Sedition Acts were used by Federalists to get rid of whatever Republican enemies they had from France. The Acts made it harder for one to become a citizen, creating a stronger Federalist Party. It also allowed the President to deport anyone of suspicion of making false writings about the government. This was later ruled as unconstitutional by Jefferson and repealed. The Federalist Party was shaped by domestic affairs into becoming a party that cared a lot about the country’s financial position. The foreign affairs for example the XYZ Affair, almost led to war between the United States and France. The United States had sent Federal diplomats to negotiate with the French, but was asked for compensation to make agreements. The U. S. didn’t compensate any money and later came back to negotiate under serious conditions. This Federal victory had led to the Alien and Sedition Acts. Jay’s Treaty was opposed by the Republicans because of the negotiations made with Great Britain for trading purposes. These commercial reasons were thought by the Republicans that there would be a ruling elite group of merchants and investors and a large group of the poor remaining population. More and more wanting of financial stability of the country Is what led to the Pickney treaty that allowed the U. S. to use the Mississippi River trading route granted by Spain. The Republican Party was weak in forming their party because of the power it had in compare to the Federalists. The creation of the Federalists and Republicans were what Washington wished to avoid, but inevitably were created. The domestic and foreign affairs containing from the Whiskey Tax to the Pickney Treaty were used by Federalists to increase their party’s strength and to fix the nation’s debt. The Republicans, though still unmanageable to receive any favors in the Federal government, still benefitted from events like the Alien and Sedition Acts which were to be later used against the Federalists as unconstitutional to help win Jefferson’s presidency. The 1790s was an important time period in creating the first two opposing political parties.

Business Ethics and Corporate Social Responsibility

Business Ethics and Corporate Social Responsibility The paper critically examines the concepts of business ethics and corporate social responsibility in the light of doing good business. Corporate Social Responsibility; Sustainable Value; Business Ethics Good Ethics are Good for Business There has been over the last three decades a growing emphasis on companies to conduct ethically sound behaviour and practice behaviour governed by ethical code of conduct prescribed by the corporate policy. The birth of industrialization did not bring the need for ethics but the drastic consequences did, in the form of child labour, dishonest trade, lack of systematic procedures and inequity in various aspects in the businesses. Social awareness from 1960s onwards forced companies to consider ethical behaviour, which refines their actions morally and in turn produces a positive image of the company in the eyes of the existing or potential customers and the society as a whole in which the company operates. But this is where the debate arises (Crane, 2006). Ethics are good for business, as it has been claimed by many business authors. However, ethical decision making is by the most complex decision making situation that companies face today. What is ethically right to one is wrong to a nother (Blowfield, 2008). This so happens owing to the definition of ethics, according to which it is the discipline that examines ones moral standards or moral standards of the society (Santa Clara University, 2010). Every individual and society has its own set of values, beliefs and morals and the resultant is a conflict among different ethical decisions which pose a dilemma for managers of companies which are fast expanding across the global and taking into consideration a diverse customer base as well as a diverse workforce belonging to different cultures and different moral orientations (Valasquez, 2008). Following strong ethically behaviour and catering to the rights of individuals and societies which are major stakeholders in the companies, companies follow a socially responsible behaviour which is quality of running a good business (Blowfield, 2008). The need for companies to be socially responsible and ethically sound is a complex issue for the companies as they put forward cost complications as well. But nonetheless, the argument that good ethics are good for businesses is well supported and companies who are not following ethically sound behaviour are facing tremendous challenges in sustaining profitable performance of their operations. It has been argued that commitment to socially responsible behaviour and ethically sound practices is an effective long term strategy and it may lead to short term losses but its benefits are spread across the longer run, which companies have to realize to adapt. The concept of sustainable value emerges in the context of long term corporate social responsibility which companies are increasingly benefiting from (Valasquez, 2008). In todays world filled with immense global crisis and endless social and environmental issues that affect the business environment, the managers, and shareholders are increasingly concerned over the future well-being of their company. With the corporate social responsibility taken as an expense, there is growing concern over preventing overall reduction in the return to the shareholders. Chris Laszlo through his book, Sustainable Value How the worlds leading companies are doing well by doing good, provides a rather comprehensive solution to this problem: Sustainable Value, hence bringing forth social responsibility as an opportunity not as an additional cost to be borne. With a large number of companies operating to service more or less the same pool of customers, there has been heightened competition over gaining an edge in the market over the years, which keeps on increasing. Large companies focus on their competences to gauge success and minimize their costs to provide value back to their shareholders. With the new era came a new concept of corporate social responsibility, which brought the notion that a business has a duty to the society, which it has to fulfill. This only in turn brings a positive image for the company. As much as can be argued about the additional cost it brings for the company, according to Laszlo, investing in social responsibility can only allow the companies to gain competitive advantage. There are many global issues addressing the nations that the companies can choose to serve the society (Laszlo, 2007, p.75). According to Laszlo (2007) surviving in the world of today filled with global crisis let it be in the form of environmental issues that have to be reduced, societal wrongs that need to be corrected and the wellbeing of the community that is to be considered, is an intense business environment on its own. Businesses can no longer survive with a sole responsibility to its owners but being a part of the larger community they have to face the challenges and bring about solutions. Companies now are increasingly opting for addressing specific and special social and environment issues, creating awareness among the people of the society regarding the hazards and at the same time bringing to them solutions let it be in the form of their innovative products and services or through special voluntary services as part of their corporate social responsibility other than following strong ethical conduct internally. Of course, in the end the business benefits from the positive image in the minds of the potential and existing customers, and enjoys the sustainable value that ensures a profitable future (Laszlo, 2007, 178). Such an investment in social responsibility and business ethics which brings about productivity and profitability is termed as sustainable value. Sustainable value is the value given to the shareholders and stakeholders, which can be expressed in monetary terms and which is increasingly rejecting the idea that investing in corporate social responsibility only means additional costs for the business (Laszlo, 2007, p.117). Sustainable value only sustains the returns for the company and the added cost notion is just a myth that is by far the only hindrance in its successful implementation in companies. It calls for social innovation, a change in leadership style and the overall direction of the company that puts the social environment alongside its main objectives, which are all related to maximizing its returns (Vogel, 2008). Creating services and products to cater to the sustainable-value commitment of the business while at the same time applying social responsibility mechanism calls for bringing about social innovation. This, by definition, means creating new strategies, plans, concepts and ideas to address to the specific and existing social needs that are targeted by an organization (May, 2008). Social innovation is by far a different concept from the innovation encouraged in the organizations for the benefit of the organization itself alone. Social innovation has a much larger scope with takes into account the entire external as well as internal environment in which the company operates in addressing each members interests (Vogel, 2008). Sustainable value is a concept, which emerged from the groundwork put forward by the not so distant phenomenon of holistic value. This idea cleverly integrates the monetary objectives of the organization with the social environment, the community in which the business operates in and the internal structure of the organization not missing out any value generating element or competency residing inside and any future value generating opportunity lying in the outside world. Holistic value calls for realizing the bigger picture of the business world, which works successfully with the well-combined effort of its many elements (McElhaney, 2007) When one talks of sustainable value, social responsibility and holistic value, a much concerning object put in focus is the social environment within which the business operates. This social environment consists of the following elements and members: the employees that work for the company to enable it to meet its objectives; the people who are and could be the customers of the company; the social activists and environmental pressure groups which potentially hold the key to disrupting the entire organizations public image let there be any environmental mishap done through its hands; a primary and secondary set of attitudes, values and objectives of each of these groups; a profound culture; and a set of societal norms that the business has to follow up to survive in a well-established social environment (Vogel, 2008). Of course, social environment is not the only influencer of the overall business world, sustainable value strategy making calls for the vivid concern for the serious economic issues facing the nation or the world. Such as the recent global recession that affected the organizations around the world, profit sustainability became quite a challenge to overcome as a circumstance of it (Kotler, and Lee, 2008). This brings forth the ethical dilemmas against the corporate social responsibility, as the major responsibility of the company is towards its shareholders and investors to provide them the most benefits, but in times of economic crisis when the revenues shrink doing so alongside the socially responsible behaviour becomes far difficult. The Commitment to sustainable value ensures the involvement of economic issues to be addressed through a well-formed strategy in combination with the issues of the society, whilst maintain ethical standards of the corporation (Holmes, 2007). This is indeed a long strategy which cannot be implemented or formulated abruptly. According to business ethics authors, commitment towards socially responsible behaviour should be a long term strategy as its benefits are more in future than in the present (May, 2008). The starting point is making the individuals and the teams in the organisation ethically sound in their behaviour and actions so that together as a group, the entire organisations puts forwards a responsible and morally strong behaviour (May, 2008). Once the entire workforce is committed to morality and socially responsible behaviour then can only he company implement a long term strategy for sustainable value, which calls for commitment at individual as well as holistic level in order to bring forth benefits in future. In order to prevail a culture of moral soundness and responsibility, the leaders have to first analyze and understand the different backgrounds the employees belong to and establish commonality in belie fs and values in order to enable the employees to produce an ethical fit in the conduct which is similar for all and minimum conflicts occur. Ethical training is also common nowadays in order to explain to the employees the importance of their moral conduct and how well they can serve the company as well as the society through practicing ethically strong behaviour. With this commitment can only the company successfully practice social responsible behaviour and become good in the eyes of the society.

How to Overcome Ethnocentrism

How to Overcome Ethnocentrism Ethnocentrism is when one tends to judge other ethnic or cultural groups according to the dominant, or superior, culture in which they belong. This judgment places special concern on behavior, customs, language, and religion. To overcome ethnocentrism through communication, one must first have an open mind in order to develop cultural awareness and sensitivity to others. To even the most highly motivated individuals wanting to reduce or eliminate their ethnocentrism, this is not an easy task. Efforts must be made to increase knowledge about cultural differences and similarities in order to have a better understanding of the need for a diverse population and to help overcome any prejudices. You may need to change lifelong beliefs about yourself and your culture. Moreover, recent research suggests that people often have beliefs and biases that theyre not even consciously aware of and that may even conflict with the beliefs they think they have. (Thill and Bovà ©e, 2008, pg 75) Some ways in which to learn about other cultures would be to read foreign books, learn a foreign language, browse foreign internet sites, watch foreign movies or television, attend services from another religion, travel or study abroad, learn to appreciate cultural music, or join cultural clubs to cultivate friendships. A degree of ethnocentrism is natural when being introduced to a different culture. Fortunately these cross-cultural barriers can be overcome through exposure. In my life experiences, prejudices have simply been nothing other than fear of the unknown. Explain the eight main types of cultural differences. Provide an example of each (5 points). When communicating in a diverse world, one must recognize and accommodate cultural differences to avoid the chance of any misunderstandings. There are eight main types of cultural differences: contextual, legal and ethical, social, nonverbal signals, age, gender, religion, and ability. Any attempt at communicating, cultural context plays a role in. Cultural context is the pattern of physical cues, environmental stimuli, and implicit understanding that conveys meaning between two members of the same culture. (Thill and Bovà ©e, 2008, pg 76) There are two types of cultural context, high-context and low-context. As an example, in a high-context culture, ones position and status is valued more highly than their competence, whereas in a low-context culture, ones competence, position and status are valued equally. Cultural context also affects legal and ethical differences. In a high-context culture, verbal agreements are viewed as more important than written agreements, and in a low-context culture, a written agreement is binding, with little to no value placed on a verbal agreement. The nature of social behavior differs between cultures, and at times, quite markedly. A good example of this difference is in a high-context culture, time is often seen as more flexible, meaning late schedules or appointments are overlooked in order to maintain relationships, whereas in a low-context culture, schedules, appointments, and deadlines have rigid requirements. Being late might be seen as disrespectful, lazy, or incompetent, and normally unacceptable. Nonverbal differences could be grouped along with social differences as they are both a type of behavior, but can also differ quite markedly between cultures. Examples of these differences can include greetings such as a handshake, possible intrusion of personal space, facial expressions, eye contact or posture. The remaining four differences, I believe could be grouped together, as each one, age, gender, and ability are things that one cannot change in themselves. Even though I feel religion should be a choice, in some cultures that it not allowed. All four of these differences have the potential to bring about controversy while communicating. Some cultures give the most respect, power, and freedom to their elders, while other cultures believe that the younger generation can bring fresh ideas and creativity to the table. Some cultures allow more women to hold executive positions, while others still believe men should hold the positions of authority. While some cultures find people with impaired abilities a significant disadvantage and may not give them equal opportunities, other cultures recognize these individuals as an opportunity to help them with tasks that they find difficult or almost impossible to perform, and can possibly lead to finding new inventions in which to aid these individu als. Some cultures believe they should be allowed to express their religious beliefs in any environment, while others do not believe in openly expressing themselves so as to avoid friction between individuals. In todays economy, anyone who can make a contribution that has a positive impact on society should be allowed, but we all must learn to see past our cultural differences. List and discuss the important components of successful intercultural communications (5 points). Intercultural communication is difficult and in order to communicate successfully, there are barriers we must work through. Important components of communicating successfully are to research and study other cultures and languages, learn to respect preferences for communication styles, learn to write and speak clearly and listen carefully, and help others adapt to your culture. Learning just the basics of any culture, even common phrases, can help get you through everyday situations. There are many ways of researching and studying other cultures and their languages from reading books, to watching movies, traveling to another country, or even taking classes to learn a second language. Knowing the communication style of a culture is particularly important in effectively communicating, whether it be verbally, or nonverbal. Learning other communication style also shows that you respect their culture. Writing and speaking clearly and listening carefully are also a part of effective communication. If youre in a meeting, making a presentation, or listening to a presentation, in order to give or get appropriate and realistic feedback, you must be an effective writer, speaker, and listener. One word can have different meanings to different cultures. When helping others adapt to your culture, both can learn which forms of communicating are easier for each culture w ritten or oral. Since successful communication plays such a vital role in todays society, it is imperative that any stumbling blocks be overcome so there can be a win-win situation for everyone involved. List the seven components of writing and speaking clearly. Provide an example of each (5 points). In learning to write and speak clearly, it is recommended one follow these seven components: 1) Use simple and precise language; 2) Be brief; 3) Use transitional elements; 4) Address international correspondence properly; 5) Cite numbers and dates carefully; 6) Avoid slang, idiomatic phrases, and business jargon; and 7) Avoid humor and other references to popular culture. Listed here are samples for each component: 1) the word run, used as a verb or noun, would have over 40 distinct meanings, where the word taxi, which may differ slightly in spelling would tend to be recognized as the same meaning; 2) organize your thoughts and materials to eliminate any redundancy so your information can be conveyed in the shortest and simplest way possible, and if need be, break information into smaller sections to help readers capture your message; 3) using transitional words and phrases such as even though, furthermore, because of all this helps readers understand what they are reading; 4) be sure you correctly use all address elements for a country, e.g. (city + hyphen + postcode), and another country may use (city + state (abbrev.) + postcode); 5) a date written as 1/2/03, in one country may mean the first of February, 2003, but in another country mean the second of January, 2003; 6) such idiomatic phrases as its on the tip of my tongue should be avoided as your audience may not have any idea what you mean; and 7) what is funny to one person can be entirely different from what the next person thinks. Lets say making a joke about a popular entertainer like why was Lady Gaga carried on stage in an eggshell and dressed like a newborn. This would most likely be completely alien to your audience. So unless you are familiar with your audience, it is best to avoid humor altogether. When communicating in intercultural conversations, whether speaking or writing, remember to become familiar with their communication style and adapt accordingly, and to follow the seven components of writing and speaking clearly. On page 94 of your text, do exercise 3.1 (Intercultural Sensitivity: Recognizing Variations). Be sure to provide a rationale for your answer and use citations or references to the text or other materials to support your answer. You may find it helpful to visit your textbook Web site and go to the Featured Web Sites section for Chapter 3, then visit the Executive Planet Web site for some additional information about communicating in a business setting with specific countries. (10 points) A Canadian toy company representative, Ms. McGraw, is in a first negotiations business meeting with Mr. Morioka, a manufacturer of miniature truck wheels in Osaka, Japan. Ms. McGraw has just finished explaining her companys expectations for the design process, the materials procurement, and aggressively emphasizing their willingness to close the deal by laying their contract out on the table. Mr. Morioka is increasingly vague in his response to accept the contract by saying softly, perhaps that will be difficult, shows little interest in the negotiations, and Ms McGraw doesnt understand why. One possibility of a cultural difference that could be affecting their communication is the fact that women still dont play a prominent role in business, and woman executives who visit those countries may find that theyre not taken seriously as businesspeople. (Thill and Bovà ©e, 2008, pg 78) Age difference could also have an effect because in the Japanese business culture, elders are valued for their wisdom and experience they bring to the company. Another possibility could be in nonverbal communication such as how they are greeted or if there is a lot of direct and frequent eye contact. The Japanese traditionally prefer a slight bow of the head and eye contact can be considered aggressive. (Thill and Bovà ©e, 2008, pg 80) All aspects of Japanese life, especially business relations, are governed by strict rules of etiquette. A foreign business person who is either ignorant of, or insensitive to, Japanese customs and etiquette needlessly jeopardizes his companys prospects in this country. (Japanese Customs, Etiquette, and Culture, http://www.buyusa.gov/japan/en/customs.html)

Fukyama V huntington Essay -- essays research papers

Francis Fukuyama and Samuel Huntington are two of the most controversial and influential modern political theorists of our times. Fukuyama’s book, The End of History and the Last Man, and Huntington’s book, The Clash of Civilizations and the Remaking of World Order, pose two very conflicting theories on international relations. In this paper I will summarize and compare/contrast the two theories. Both theories, written since the fall of communism and updated since the first gulf war, have been widely read, taught, praised and criticized The End of History and the Last Man is a book in which Francis Fukuyama argues the controversial thesis that the end of history, a time when class distinctions no longer exist, believing them to be the cause of the evolution of everything that has existed in society up in till that point, is among us. "What we may be witnessing in not just the end of the Cold War, or the passing of a particular period of post-war history, but the end of history as such: that is, the end point of mankind's ideological evolution and the universalization of Western liberal democracy as the final form of human government." Fukuyama’s thesis consists of two main elements. Firstly, Fukuyama points out that since the beginning of the nineteenth century democracy is the only intellectual expected system of government. Secondly, Fukuyama sees history as consisting of tension between two classes: the one in control and the one being controlled. Ultimatel...

Use of the Dramatic Monologue in Porphyrias Lover and My Last Duchess

In 'Porphyria's Lover' and 'My Last Duchess', Browning uses several features of dramatic monologue in order to engage and sustain the interest of the audience. This style of monologue is spoken by a character, which is not the poet, and is usually projected at a critical moment, as in the case of 'My Last Duchess' and 'Porphyria's Lover'. The speakers unintentionally reveal their insanity, in both poems, through their separate accounts. By making a comparison of the two poems, it becomes clear that Browning has used similar disturbing themes to illustrate what an individual is capable of doing. Browning's work is known to be an example of dramatic monologue, with this being the way in which he is able to portray the insanity of his characters. By using the technique of dramatic monologue in 'Porphyria's Lover' and 'My Last Duchess', the reader is immediately given an image of both of the narrators' subjects. The opening line is vital to any poem, as it has the potential to instantly interest the reader. "That's my last Duchess painted on the wall" begins 'My Last Duchess' halfway through the conversation, leaving the audience eager to determine to whom the speaker is talking to. This statement also hints that the story of his "last duchess" will follow, thus sustaining the interest of the audience. By using dramatic monologue in 'My Last Duchess', the reader feels personally involved in the scene, as if the Duke is directly talking to him. In fact the Duke is speaking to an emissary, who has been sent by a Count to see whether the Duke is an appropriate suitor for his daughter. The lack of response from this envoy however gives the... ...g more of a passionate poem. The poem also uses iamic tetrameter, in order to stress the importance of different syllables of words in the poem. 'Porphyria's Lover' concludes with a rhyming couplet in order to tidy up and close the piece. In conclusion, Browning uses dramatic monologue in 'Porphyria's Lover' and 'My Last Duchess' in order to engage and sustain the interest of the audience. Various factors, such as the state of mind of both characters, use of language (particularly imagery) and the lay out of the poem contributed to the effectiveness of the poems. When studying comparisons and contrasts in the poems, it becomes clear that Browning has used the same methods of aiming to disturb the reader in both 'Porphyria's Lover' and 'My Last Duchess', although different ways in which to alarm the audience are used.

History of Child Labour Essay

Children are the gifts; they are the precious gifts presented by Almighty God to human life for filling the world with smile, happiness, and hope. Children are the future citizens; it is childhood which determines a child’s future, his/her life and their worthy contributions to the world. Thus it becomes an important aspect for us, for everyone in the society, and for the Government to protect, nourish and work for the overall welfare of children of a particular Nation and the children of the World as a whole. When we discuss about child labour, we know that it is a curse upon the God gifted little ones on Earth. Child Labour, in general, means the employment of children in any work with or without payment. Every child out of school in the age group of 5 to 14 years, children who are paid in work, children who work outside the homes or children who in hazardous industries can be said to be child labourers. According to Stein and Davies, child labour means any work by children that interferes with their full physical development, the opportunities for a desirable minimum education and for their needed recreation. Origin History of child labour can be traced to some dark realms of industrialisation. But a more detailed study of this heinous, shameful practice can reveal that child labour was there much before industrialisation in various forms like in child slavery. If we turn the pages of History we see that there was a custom for youths from the Mediterranean basin to serve as aides, charioteers and armed bearers to their adult counterparts. A few of such examples can be found in Bibles when David serves his King Soul; we find the examples of Hercules and Hylash in Greek Mythology as well. In Greece this practice was considered to be an educational tradition and boys were considered to be an efficient fighting force. Hitler Youth was an official organisation in the Nazi Army. During the battle of Berlin, this youth force was a major part of the German Defences. In India, children used to help and accompany their parents in agricultural and other household activities in ancient times. Thus we see that child labour is not quite a new thing to the world. But during 1780 and 1840s, there was a massive increase in child exploitation. During the industrial revolution, it was very common to find children working in factories. In 1788, more than 60% of workers in textile mills of England and Scotland were children. Since industrialisation, children have been seen working in factories, mines, some having their own small business like selling food, flowers, polishing shoes, serving as waiters in restaurants and as domestic servants as well. The most controversial and worst forms of child labour and exploitation included military use of children, child trafficking, organised begging and child prostitution etc. So these are the various forms of child labour that are being present in today’s societies over the world. Causes of Child Labour  India accounts for the second highest number where child labour of the world is concerned. Africa accounts for the highest number of children employed and exploited. Over population, poverty, parental illiteracy, lack of proper education, urbanisation, availability of cheap child labour are some common causes of wide-spread child labour. Parental ignorance regarding the bad effects of child labour, the ineffectiveness of child labour laws in terms of implementation, non-availability and non-accessibility to schools are some of the other factors which encourages the phenomenon of child labour. It is also very difficult to immature minds and undeveloped bodies to understand and organise themselves against exploitation in the absence of adult guidance. Statistics show that in India, between 2007 and 2009, 5,392 instances of violations of the child labour prohibition laws were detected. Prosecution was launched only in six cases. The period saw only three convictions. In 2006-07, 2,363 child labour employment instances were found, but violators were booked only in one case which resulted in conviction(published in The Times of India, Kolkata edition, Monday, January 25, 2010). Moreover, illiterate and ignorant parents do not understand the need for wholesome physical, cognitive and emotional development of their child. They are themselves uneducated and unexposed, so they do not understand the importance of education for their children. The industrial revolution has also had a negative effect by giving rise to circumstances which encourages child labour. Sometimes multi-nationals prefer to employ child labourers in developing countries especially in garment industries only because they can be recruited for less pay and more work can be extracted from them and there is no problem of union with them. This attitude also makes it difficult for adults to find job in factories, forcing them to drive their little ones to work in factories. Orphanage is an another reason of child labour. Children born out of wed-lock, children with no parents and relatives, often do not find anyone to support which forces them to work for their own survival. Moreover, willingness to exploit children is the most responsible cause for child labour. This is the root of the problem. Even if a family is very poor, the incidence of child labour will be very low unless there are people willing to exploit these children. Possible Solutions  Elimination of poverty, free and compulsory education, proper and strict implementation of the labour laws, abolishment of child trafficking can go a long way in solving the problem of child labour. The World Band, International Monetary Fund can help in eradicating poverty by providing loan to the developing countries. Various poverty elimination programmes have been introduced by our Government as well for the cause. After the 86th Amendment of the Constitution in the year 2002, the provision for free and compulsory education between the age group of 6 to 14 years has been included as fundamental right under Article 21A. Children irrespective of their race, caste, sex, economic condition, religion, place of birth, and parents to whom they born of need to how to read and write. They need social and professional skills that only a school and nurturing environment can provide. The most essential part in this regard is the effective implementation of the policies and strict enforcement of the labour laws. The Government must take strict measures against those employing child labourers in hazardous works and other industries. The NGOs also have a big role to play in this regard. Various NGOs are working for the cause of child labour. MVF in Andhra Pradesh is a striking example. They have been working for the welfare of children in various respects. Compulsory education can help eradicating the problem of child labour up to a large extent. Statistics also show that education has helped in reducing child labour in Western Countries up to a large extent. Most importantly the incidence of child labour would diminish considerably even in the force of poverty, if there are no parties willing to exploit them. Strict implementation of child labour laws and practical and healthy authorities to replace this evil can a go long way to solve this problem of child labour. Along with this, participation of the common educated citizens in the process of eliminating child labour can help out a lot. As common people also, we can help the poor uneducated children in getting at least some idea about the alphabets also! In the words of Bill Gates, we can say that â€Å"Until we’re educating every kid in a fantastic way, until every inner city is cleaned up, there is no shortage of things to do. † Inclusion of Child Labour Laws in Legal Education and other branches of education can also be regarded as effective steps as it creates awareness among the student communities. As a student of law, we can at least make the downtrodden aware of the needs of formal education system and the cause of elimination of child labour so as to provide those helpless children a chance to enhance their capacities to the fullest extent possible and enable them to contribute their best for making this world a better place to live in. What is child labour? Among adults the term â€Å"child labour† conjures up a particular image: children chained to looms in dark mills and sweatshops, as if in a long nightmarish line running from Lancashire in the 1830s right through to the South Asia of today. In reality, children do a variety of work in widely divergent conditions. This work takes place along a continuum, from work that is beneficial, promoting or enhancing a child’s development without interfering with schooling, recreation and rest to work that is simply destructive or exploitative. There are vast areas of activity between these two poles. It is at the most destructive end, where children are used as prostitutes or virtual slaves to repay debts incurred by their parents or grandparents or as workers in particularly hazardous conditions, that efforts are focused to stop such abuse.

Business Etiquette

The proverb â€Å"When In Rome, do as the Romans do† applies to business representatives as well as tourists. Being attuned to a country business etiquette can make or break sale, particularly in countries where 1 ,oho-year-did traditions can dictate the rules for proper behavior. Anyone interested in being a successful marketer should be aware of the following considerations: Local customer, etiquette, and protocol. An exporter's behavior in a foreign country can reflect favorably or unfavorable on the exporter, the company, and even the sales potential for the product. Body language and facial expressions. Often, actions do speak louder than words. Expressions of appreciation. Giving and receiving gifts can be a touchy subject in many countries. Doing it badly may be worse than not doing it at all. Choices of words. Knowing when and whether to use slang tell a joke, or Just keep silent is Important. The following informal test will help exporters rate their business etiquett e. See how many of the following you can answer correctly. Answers follow the last question. ) 1 . You are in a business meeting in an Arabian Gulf country. You are offered a small cup of bitter cardamom coffee. After your cup has been refilled several times, you decide you would rather not have anymore. How do you decline the next cup offered to you? A. Place your palm over the top of the cup when the coffee pot Is passed. B. Turn your empty cup upside down on the table. C. Hold the cup and twist your wrist from side to sled_ .In which of the following countries are you expected to be punctual for business meetings? A. Peru. B. Hong Kong. C. Japan. D. China. E. Morocco. 3. Gift giving is prevalent in Japanese society. A business acquaintance presents you with a small wrapped package. Do you: a. Open the present immediately and thank the giver? B. Thank the giver and open the present later? C. Suggest that the giver open the present for you? 4. In which of the following countries is tipping considered an insult? A. Great Britain. B. Iceland. Canada. 5. What Is the normal workweek In Saudi Arabia? B. Friday through Tuesday. C. Saturday through Wednesday. 6. You are in a business meeting in Seoul. Your Korean business associate hands you his calling card, which states his name in the traditional Korean order: Park Chula So How do you address him? A. Mr.. Park. B. Mr.. Chula. C. Mr.. So 7. In general, which of the following would be good topics of conversation in Latin American countries? A. Sports. B. Religion. C. Local politics. D. The weather. E. Travel.

Participatory Notes Essay

Participatory Notes commonly know as P-Notes or PNs are instruments issued by registered foreign institutional investors (FII) to overseas investors, who wish to invest in the Indian stock markets without registering themselves with the market regulator, the Securities and Exchange Board of India – SEBI. SEBI permitted foreign institutional investors to register and participate in the Indian stock market in 1992. Investing through P-Notes is very simple and hence very popular amongst foreign institutional investors. Contents 1 Working 2 Need 3 Participatory Notes Crisis of 2007 4 Trends in PN 5 References Working Participatory notes are instruments used for making investments in the stock markets. However, they are not used within the country. They are used outside India for making investments in shares listed in that country. That is why they are also called offshore derivative instruments. In the Indian context, foreign institutional investors (FIIs) and their sub-accounts mostly use these instruments for facilitating the participation of their overseas clients, who are not interested in participating directly in the Indian stock market. For example, Indian-based brokerages buy India-based securities and then issue participatory notes to foreign investors. Any dividends or capital gains collected from the underlying securities go back to the investors. Need Anonymity: Any entity investing in participatory notes is not required to register with SEBI (Securities and Exchange Board of India), whereas all FIIs have to compulsorily get registered. It enables large hedge funds to carry out their operations without disclosing their identity. Ease of Trading: Trading through participatory notes is easy because participatory notes are like contract notes transferable by endorsement and delivery. Tax Saving: Some of the entities route their investment through participatory notes to take advantage of the tax laws of certain preferred countries. Money Laundering: PNs are becoming a favourite with a host of Indian money launderers who use them to first take funds out of country through hawala and then get it back using PNs.

Stress and Coping

The psychosocial theory of stress and coping is of the utmost importance to patient care and recovery. It has been found that among other things, stress can affect the rate of wound healing, susceptibility to infectious diseases, and the development and progression of cancer (Walker et al, 2007). The nurse plays an integral role in the management and alleviation of patients’ stress, and can provide valuable mechanisms to aid in the process of coping with the stressor. Stress is a concept, not a fact, and is best described by using a theoretical model (Walker et al, 2007). One of these models is the Lazarus and Folkman’s transactional model of stress and coping. It suggests that stress can be reduced by interventions that make the person think differently about the stressor, or that a person’s perception of their ability to cope with the stressor can be changed (Glanze et al, 2008). In the text to follow, it will demonstrate how nursing care has benefited from the application of this theoretical model, and how particular nursing care interventions can help change patients’ perspective of certain stressors, and their ability to cope with the stressor. The entire family, not just the patient experiences the stresses associated with a family member being hospitalized (Lewis et al, 1989). By involving the family in a patient’s care regime it can change the person’s perspective of their ability to cope, by providing a support network, and can help alleviate not only the patient’s stress, but the stress of the family too. The nurse needs to understand what family means to the patient. It might not be traditional, for example related by blood, or married. Patient care should be planned with the family in mind, and families should be made aware of what the care plan is. This way they are better equipped to support the patient (Lewis et al, 1989).

Medtronic External and Internal Analysis Essay

Medtronic Inc. can easily be compared to le Concorde, a turbojet supersonic passenger airliner first flown in 1976. This jet was more than twice as fast as any other airliner ever created, flying at speeds of up to 1,350 mph. The capability to fly at more than twice the speed of a regular airliner equates to twice the flights and premium prices for this astonishing service. The resulting profitability of le Concorde is what puts this machine at the top of its class. In 1957, Medtronic founder Earl Bakken created Medtronic’s Pacemaker, the first wearable device to treat abnormally slow heart rates. The Pacemaker is now the staple product of Medtronic and can be compared to le Concorde for its innovation, efficacy, and profitability. This is just one example of Medtronic’s ability to use its innovation to transform the treatment of chronic disease worldwide. The firm has been a leader in the Medical Device Manufacturing industry for over two decades, developing and manufacturing innovative medical devices to treat more than seven million patients each year. Its products include pacemakers, defibrillators, heart valves, and stents, among others. Medtronic’s drive for excellence is best summed up by its corporate mission, â€Å"To contribute to human welfare by application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health, and extend life† (Medtronic. com). To achieve its goals and maintain success, Medtronic must constantly monitor and evaluate its external environment and the forces in it that could affect the company. The Medical Device Manufacturing industry is exposed to numerous forces and trends that can generate opportunities for firms to exploit as well as threats for firms to avoid. Of note are the effects of rivalry, buyers, regulation, and globalization trends. The Medical Device Manufacturing industry, as a whole, has grown at an annual rate of 18. 9% since 2005, contributing to a high level of industry attractiveness (ibisworld. com). Medtronic is the clear leader with 17. 2% market share. Its closest rivals, Boston Scientific and St. Jude Medical, have market shares of 2. 8% and 4. 8%, respectively (ibisworld. com). Recently, the industry has seen a dramatic increase in consolidation as larger firms have cquired smaller operations in an effort to diversify their portfolios and gain market share. This shrinkage has resulted in greater industry concentration, increasing the rivalry among these key players. Focusing on a more narrow analysis of the Cardiovascular Device segment reveals a similar, more intensified, environment for rivals. Compared to the overall industry, this specific segment has recently witnessed much lower growth rates because the market is saturated with products that have little differentiation and limited innovation possibilities. For this reason, merger & acquisition activity is especially prominent among top firms seeking to create strategic competitiveness. They have identified the threat of rivals and are looking to gain additional resources and capabilities through diversification. The role of buyers is very unique in this industry. While individual patients are the ultimate consumers of medical devices, firms often focus on healthcare providers when selling products. This is because patients in the market have low brand recognition of the devices they use. Instead, they rely on their hospitals and physicians to recommend products for treatment. It is important for manufacturers to understand this distinction since it is these physicians and other providers that have the greatest brand loyalty. That said, individual patients still drive demand for products, and their satisfaction remains the ultimate goal. One key demographic trend of buyers is the aging U. S. population. As life expectancies continue to rise, and the baby boomer generation ages into their late sixties and seventies, this expanding age group will create a great opportunity for medical device manufacturers. For example, elderly patients experience a higher occurrence of health issues compared to the aggregate market, driving demand for medical devices upward. In fact, 40% of all patients diagnosed with heart disease or arthritis are 65 or older (ibisworld. com). The Medical Device Manufacturing industry is also subject to tight regulations, both domestically and internationally. For example, a new device may require a four-year trial before it appears on the market so that the Food and Drug Administration (FDA) can test its long-term effects. Products in Europe, meanwhile, undergo a different regulatory process; products are often introduced in Europe two to four years before they are available for patients in the U. S. Furthermore, compliance with these regulations requires firms to devote significant additional resources, often detracting from investments such as Research and Development. Along with these initial requirements, devices are constantly monitored for defects, which can result in product recalls that damage brand reputation and hurt profits. Globalization trends will certainly continue to have a strong impact on the industry, creating both opportunities and threats. Research shows that exports account for 21. 6% of industry revenue with an expected 2010 growth rate of 3. 9% (ibisworld. com). By developing these export markets, firms can work to maximize capacity utilization as they expand their distribution channels to reach more customers and generate more revenue. This is especially true of developing economies, in which 80% of chronic-disease-related deaths occur. Large portions of these markets are greatly underserved and demand is not being met. In addition, by diversifying into different geographic markets abroad, firms are able to mitigate the risks associated with being too dependent on the domestic market. The emergence of globalization also introduces several threats that firms must be aware of. For one, the competitive landscape changes as companies establish operations sites in foreign countries. When this happens, the demand in export markets declines since customers can purchase devices locally. Exporting firms must then reevaluate their international strategies and consider establishing similar operations of their own. Another threat globalization brings is that of increased competition. Manufacturers constantly fight to expand their geographic reach and to gain control of underserved markets. Given the effects of strong forces and emerging trends in the Medical Device Manufacturing industry, firms should strive to possess a key group of success factors in order to gain strategic competitiveness. The first factor is employees; they must be highly skilled and knowledgeable since the devices they design and produce are very complex. Second, economies of scale allow firms to improve profitability by reducing variable costs in manufacturing, which, in turn, lowers prices for customers. Third, as previously mentioned, the importance of global positioning cannot be understated. In order to compete in the industry, firms must make a global presence, expanding geographic scope and penetrating underserved markets. Finally, access to the latest innovations is imperative. To acquire new technologies, firms must invest considerable resources into Research and Development. Not only must they develop new technologies, but they must also look for ways to continuously improve existing products through high levels of innovation. This understanding of the industry environment is essential when considering a firm’s internal strategies. At the business-level, Medtronic possesses a number of strengths and competencies that are used to create a competitive advantage and contribute to the overall performance of the company. In particular, its research and development efforts along with its superior human resources drive the firm’s differentiation strategy in the Cardiac Rhythm Disease Management (CRDM) unit (see appendix for more strengths). This sector remains the firm’s most profitable product market, accounting for $5. 268 billion of Medtronic’s $15. 817 billion total net sales in 2010 (Medtronic). As a percentage of those sales, Research and Development expenses equated to 9. 23%, a total of $1. 46 billion. Moreover, this expense has seen a Compound Annual Growth Rate of 8. % in the last 5 years, indicating Medtronic’s continued confidence in its ability to create value through the investment in research and development. The innovation fostered by research and development in CRDM has allowed Medtronic to create many new products; the complex nature of these products makes them rare and costly to imitate. They often even trump and replace the existing technology in the mar ket, making them highly valuable and unsubstitutable. These key innovations, therefore, give Medtronic a significant competitive advantage in research and development. For example, the CRDM unit recently introduced a new leadless pacemaker. Once implanted into the heart via catheter, the penny-sized device permanently latches into the flesh with tiny claws. Doctors can then wirelessly monitor and control the pacemaker. Medtronic’s demonstration of reduced size and wire elimination will create a new standard for such devices in the industry, making current, bulky pacemakers obsolete, and giving Medtronic a sustainable competitive advantage. Medtronic’s 40,000 employees also play a key role in the success of CRDM and of the company as a whole. They are the source of one of Medtronic’s most valuable intangible assets: knowledge. With a thorough understanding of human physiology and a breadth of technical skills, employees are a driving force behind the company’s groundbreaking innovations. They generate ideas and implement processes that create new or improved products or therapies. These advancements require that employees are well trained and possess a high degree of knowledge about the products or therapies they develop. In addition to the actual production of products, employees extend their knowledge to customers. By educating healthcare providers and users about the devices, employees ensure that patients safely receive the full benefits of Medtronic’s products. One way Medtronic optimizes its human resources is through collaboration blogs and internal grants. The company’s Quest program awards project grants that encourage employees to test their own ideas for product innovation. Nearly 25% of these projects eventually become a product or some part of a therapy. For example, employee Brain Lee had an idea to create an effective diagnostic tool for patients who suffered from unexplained fainting. With funding from the Quest program, Lee modified a pacemaker by adding self-contained electrodes. The device could be implanted just below the skin, recording electrocardiogram (ECG) signals in an endless loop. Much more effective than existing external tools, Lee’s device received additional funding, leading to successful clinical trials, and, eventually, a commercial release. This is just one example of how Medtronic’s strong workforce creates a core competency for the firm, one that is unmatched by its rivals. Furthermore, the innovations developed by employees and through research and development efforts can often be protected with patents, generating competencies that are not only distinctive, but also sustainable. At the corporate level, Medtronic is very well positioned. The firm outperforms its rivals in terms of market share with 17. 2%, compared to Boston Scientific and St. Jude Medical, which hold 2. 8% and 4. 8% market share, respectively. Since 2007, Medtronic has experienced an 8. 75% compound annual growth rate. While lower than St. Jude’s growth rate of 12. 3% in the period, it is noticeably higher than that of Boston Scientific’s, 6. 84% (See appendix for further financial comparisons). Medtronic’s corporate-level strategy defines which businesses it will be in as well as how it will integrate those businesses to grow and deliver value to stakeholders. The firm currently operates in seven business units: CRDM, Spinal, CardioVascular, Neuromodulation, Diab etes, Surgical Technologies, and Physio-Control, all of which are largely related. Because of Medtronic’s strong war chest, it has been able to focus its growth strategy around acquisitions. Since 2009, the firm has purchased nine companies, including ATS Medical Inc. and CoreValv Inc. , requiring a significant cash investment. In fact, Medtronic spent $370 million when it bought heart valve maker ATS Medical. The firm’s acquisition strategy specifically targets two types of purchases: those that will add immediate revenue to existing businesses, and those that add to Medtronic’s technology portfolio by providing expertise the company does not have. Of late, the firm has been focusing on the former, targeting smaller companies that lack the resources to complete clinical trials and gain FDA approval. Chad Cornell, vice president of corporate development at Medtronic, notes, â€Å"Size is obviously a factor, but it’s not what we start with. † Instead the question is â€Å"how can we add value? That’s the key lens† (Lee). Medtronic’s international strategy is best characterized as a global strategy whereby it develops devices in the United States to be distributed across country markets. To support this strategy, it uses a worldwide product divisional structure. Medtronic has recently changed its strategy, implementing a Global Realignment Initiative in 2008. The goal of the initiative is to reorganize the firm’s resources to focus on areas that add the most value and have the most attractive growth opportunities. Prior to 2008, the company had segmented its global market into the United States market and international markets. Under this new strategy, Medtronic will focus around developed markets and emerging markets, using its resources and capabilities to effectively meet each segment’s unique needs. Developed markets include regions such as the United States and Europe where trained healthcare professionals are familiar with current devices, and new, innovative products are readily accepted. Medtronic relies on its strong innovation capabilities and Research and Development investments to meet the demands of this segment. For example, patients with pacemakers are often denied potentially life-saving MRI scans due to possible pacing interference. Medtronic used its superior innovation and product knowledge to address the concern, manufacturing the world’s first pacemaker that is compatible and safe to use with MRI systems. Introduced in Europe in 2008, this innovative device provides a much-needed solution to millions of people who will now be able to receive the full benefit of a safe MRI scan. Emerging markets, meanwhile, include regions such as China, Brazil, Africa, and the Middle East, where access to care is often limited, and physicians may be unfamiliar with certain medical devices and hesitant to accept new products. In this segment, Medtronic depends on its employees and its reliable, high-quality products. Using these strengths, it focuses on training and educating healthcare providers so that products and treatment are much more accessible to underserved patients. At present, Medtronic operates in more than 120 countries, with more than 16,000 employees in communities outside the United States (Medtronic. om). These employees provide immense value to the company by using their extensive knowledge and skills to educate and collaborate with physicians around the world. Currently, 41% of total revenues are realized outside of the United. Medtronic plans to continue its geographic diversity strategy, aiming to become a â€Å"truly boundaryless organization† an d maintain its commitment to â€Å"making a sustained, global impact in the fight against chronic disease† (Medtronic). In order to keep its world-class status, Medtronic executes various tactics at each of its organizational levels in order to protect its strategic competitiveness. For example, the company uses a frontal assault on its biggest competitor, Boston Scientific. By using revenues created from CRDM, they have the capability to invest large investments into research and development in ways that Boston Scientific cannot. In doing so, they maintain continuous development and improvement of innovative products. Another tactic that Medtronic uses is the pre-emptive strike, identifying and evaluating a valuable opportunity and seizing it before a rival does so. This increases sales, differentiates Medtronic from competitors such as Boston Scientific, and helps foster innovation. Based on the analysis of Medtronic’s external environment and internal strategies, it is clear that the firm is a leader in the Medical Device Manufacturing Industry. However, there are also some key problems and issues the firm should address. Medtronic has had litigation issues over the past few years with recalls in various different product offerings as well as patent and licensing disputes. As noted on the 2010 annual report their litigation charges amounted to nets of, $374 million in 2010, $714 million in 2009, and $366 million in 2008 (36-37). This has been an industry wide issue as seen by Boston Scientifics 2009 litigations charges amounting to $2. 022 billion, $334 million in 2008 and $365 million in 2007 (Boston Scientific Annual Report pg. 69). With these industry wide litigation issues, the FDA is currently creating new standard procedures for testing products and time required to introduce them into the market, which creates a separate challenge in dealing with the new health care reform. In a recent interview with Brian Johnson from Massdevice. om, the CEO of Medtronic, Bill Hawkins outlines the challenges ahead with the new health care reform. â€Å"The new medical device tax will cost us $150 to $200 million per year when introduced in 2013. In 2010 we spent $1. 5 billion on R&D and this tax will directly affect that budget for us which hurts our innovation, or possibly investments in emerging markets†. Cleary the health care reform will be one of the toughest challenges ahead for Medtronic and the rest of the medical device industry.