What it did not do, which the SRES course did, was integrate into the tutorial program the practice of researching that is necessary for essay writing. In the Socy 1002 course seemingly endless assistance was provided to students on a group and individual level, including specific discussion on what an essay should include, how it should be written, how it should be referenced, developing an argument, understanding and developing a question, and so on. First year students in particular face a gap (sometimes a chasm) between the essay question and the writing of the essay itself. The SRES tutorial on writing an annotated bibliography helped bridge this gap using ILP principles in a way that the Socy 1002 course did not, despite the best efforts of the tutors. It made a distinct difference in terms of the quality of essay writing, but it is by no means a cure all for the challenges of teaching and learning. Paul Preston, Graduate Student (Sociology) School of Social Sciences, ANU What it did not do, which the SRES course did, was integrate into the tutorial program the practice of researching that is necessary for essay writing. In the Socy 1002 course seemingly endless assistance was provided to students on a group and individual level, including specific discussion on what an essay should include, how it should be written, how it should be referenced, developing an argument, understanding and developing a question, and so on. First year students in particular face a gap (sometimes a chasm) between the essay question and the writing of the essay itself. The SRES tutorial on writing an annotated bibliography helped bridge this gap using ILP principles in a way that the Socy 1002 course did not, despite the best efforts of the tutors. It made a distinct difference in terms of...
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The Alliance and Leicester is an above all a mortgage specialist and intends to remain one. The financial Group has been operating since 1853 and offers a range of products and loan and insurance services throughout the UK. The Alliance and Leicester operates through 310 branches and 17,500 post offices. It has focused on so-called tradition savings, current account, credit card, consumer credit (housing and cars) and cash products. The company also provides a variety of insurance and pension services. The services offered are traditional ones, and the Alliance and Leicester has proved its effectiveness in this field. Key Success Factors Key success factors concern the product attributes, competencies, competitive capabilities, and market achievements with the greatest direct bearing on company profitability. The Company was floated on the stock market in 1997 and now firmly established as a major financial services provider committed to provide customers with a wide range of mortgage, investment, insurance services, cash transmission and corporate banking facilities. Against a background of rapid change and increased competition within financial services, the Alliance & Leicester Group has successfully met the challenges faced by the industry and they are demonstrated this by: • announcing record profits following the business flotation and creating strong shareholder value. • developing innovative products including the first money-back credit card and the recently launched free energy mortgage. • diversifying activities across a broad range of businesses; in 1997 38% of operating profit was generated from areas other than the traditional mortgage lending and retail investments. • ensuring Girobank maintains its market leading position in cash and cheque handling for the retail sector. • reviewing our structures and processes, clearly focusing our operations on sales and customer service. • establishing a clear market presence through strong branding. • developing successful call centre operations, servicing all aspects of our personal and corporate customers' needs. This provides only a...
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Alternative Work Schedules (AWS), Flexibility, and Flexible Work are very common terms used to describe a wide range of work styles and employment practices that have proven to be valuable to both employers and employees. Alternative Work Schedules (AWS) are non-traditional work programs that allow employees an alternative to the standard 8 to 5, Monday through Friday workweek. Some of the most common work flexibilities offered include flexi-time, permanent part-time work, job-sharing, compressed workweek, and telecommuting. According to Schermerhorn et al, p.587) virtually all such plans are designed to influence employee satisfaction and to help employees balance the demands of their work and non-work lives. They are becoming more and more important in fast changing societies where demands for "work-life balance" and more "family-friendly" employers are growing ever more apparent. (Schermerhorn, Hunt, Osborn, p. 587) I believe that the successful implementation of alternative work schedules at United Parcel Service (UPS) will contribute to a conducive and supportive work environment that will attract, motivate, and retain valued employees who are dedicated and committed to playing an important role in the success of the organization. An alternative work schedule can be defined as a working week that does not contain the traditional five-day working week, with each of these days consisting of eight hours, but rather it is an opportunity for employers to change the way in which work hours are allocated, by offering a range of flexible working arrangements. This new program is very low risk, has a relatively low cost, and has the potential for higher returns. Flextime offers varying start and finishes times within a core work period, and has two requirements: All employees must be present during the core day, and although employees may choose their own arrival and departure times, they must work the required hours (traditionally 8)...
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The first thing to know about Amazon's business design is that there are no physical stores as opposed to Barnes and Noble that have retail outlets in every state of the U.S. and all around the globe. This poses a problem for Amazon because e-business requires very active customers. The customer has to know what they want and the customer has to know how to use and navigate the Internet. Delivery costs are higher for Amazon when compared to Barnes and Noble because when a customer goes to Barnes and Noble they can buy the product and immediately take it home with them. Amazon has to charge for shipping and there is no immediate consumption of the product. As we studied before about Internet delivery, the customer is not present. The customer needs to feel safe when giving information to Amazon, and Amazon has a secured server that can keep records of credit card numbers and mailing addresses if the customer authorizes Amazon to do so. With Barnes and Noble there is no transfer of sensitive information because the customer can purchase with cash or check, and if using a credit card all that happens is a swipe of the card and a signature from the customer. Amazon needs to exercise good response time on the delivery and inform the customer through email which Amazon already does. The Amazon website recognizes the customer when they log in and displays a page with the name of the customer and recent purchases as well as suggestions for other products based on these purchases. When a customer has not visited the Amazon website in a long period of time, Amazon sends an email encouraging the customer to visit Amazon.com, and gives a list of recommendations on products for the customer to look at...
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All firms engaged in activities as a tactical entity will, in some form or another, attempt to get a handle on expected demand for their products within a certain future time period such as a week, month, quarter or year. This is a tactical environment and, aside from any earth shattering new developments or shocks to the existing environment, forecasts for expected demand/maximum-likelihood share of market may be made with a fair degree of accuracy with little variance. There are several key points that are important to this process, such as: activities of competitors, market projections for the industry by industry insiders/analysts, and a great deal of historical data. Competitive intelligence is a parameter which attempts to add subjective background to the environment in which demand forecasting is carried out. Information comes from a variety of sources such as secondary information gathered from written sources, direct observation, and from competitors themselves through press releases, industry gatherings and trade journals. This information provides some indication of what the competition plans to do as far as pricing, new products, promotions and distribution/sales. This data has a dual purpose since it may also be used within model based contingency planning when management scrutinizes competition in an effort to uncover developing threats and opportunities. Experienced tactical managers have the valuable ability to incorporate this type of information, which is not easily quantifiable, as a complement to the numerical aspects of demand forecasting. However, this is not to say that there is no information system requirement for this input into the demand forecasting process simply because it is difficult to assimilate into an objective, quantifiable form. On the contrary, a database should be set up in the context of an expert system to contain information gathered on competitors. It must be readily accessible, updated and accurate...
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Something that provides goods and services to others while at the same time seeks a profit is considered a business. The United States has what is considered to be one of the highest standards of living in the world. This standard of living is created by the wealth that is generated from the businesses found here. Wealth is created by the use of certain resources known as the factors of production. These factors consist of land, labor, capital, entrepuneurship. Knowledge is said to be one of these factors that will soon be very important, especially with the advancement of technology in future years. International and global business is becoming extremely important. The United States is the largest importer and exporter in the world. A nation's relationship of exports to imports is considered balance of trades. Companies must also be socially and ethically conscious in order to be more favorable. Companies have put in place corporate values for each employee. There are two formal corporate ethics codes in place. The Compliance based ethics codes, which is the prevention of unlawful behavior by penalizing those that do not obey the rules. The second is integrity-based ethics, which is a shared accountability for each employee. It is great to own your own business but with that comes great responsibility. The structure of American business consists of three major forms. The first of these forms is a sole proprietorship in which a business is owned and managed by one individual. The next is a corporation, which is a business that is separate from the owners. The last form is a partnership. In a partnership there are two or more people who agree to be co-owners of the business. With everything there are pros and cons to owning your own business. The feeling of success when you have...
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When I decided to continue to pursue higher education, I chose Dartmouth College. I encountered an array of intelligent individuals, but, however, what I found to be delightfully surprising about college is meeting Native American students that represent their nations. These Native American students share the same desire to develop their potential and utilize their knowledge to infinitely benefit society. I was going to Marcos de Niza High School in Tempe, AZ when I first heard about AISES. As a Native American minority high school student living in the Phoenix metropolitan area, I felt intimidated by the competition amongst my peers in our high school's honors program. Also, there are not significant amounts of females that excel very often among high schoolers today. I performed very well in high school, but, however, I doubted my academic and leadership abilities. At this time, I met Louis Baca, an AISES member and engineer at Intel. I got the opportunity observe Elmer in his workplace at Intel. I was intrigued with the numerous tasks, responsibilities, and leadership roles that he carried out. He helped me discover that there are many areas of engineering to study and this is when I became increasingly fascinated with the engineering field. Louis inspired me to be confident in my abilities as a person in pursuit of a dream. As a college AISES member, I am eager to meet more professionals in the engineering field. Attending the upcoming AISES conference in Albuquerque, NM will hopefully give me the opportunity to do so. I know that I am merely a first-year student, however, I believe that I will benefit from the experience alone....
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Amy's Bread was founded in 1992, served about 50 wholesale customers in Manhattan. (25-1). Amy's Bread was located in a highly competitive business area, but this did stop her from pursing her passion and doing what she loved, bake! She always had ideas and dreams of opening her own bakery. But only one thing stood in her way after her bakery was opened. Demand! There was high demand and she could not do what she truly wanted because of space. She needed a larger place or a different technique to fill her demands. She had to much needs and needed to accept them if she wanted to go highly large. As with any company or business, there are many strengths and weaknesses. I think one of her main strengths is her background. Her parents both belonged to the same industry gap. In a way. Her dad was an executive for Pillsbury and her mom a gourmet cook. She graduated with a degree in economics and psychology and then moved to NY to test out the horizons. She did not like the typical white color job and wanted to do more, open her own business. So she decided to attend the NY Restaurant School for culinary training. After graduation, she got her hands on a job at one of NY's top French Restaurants. A while later, she left to Europe in search of something different. She eventually settled in France and worked at 3 different bakeries. When returning to NY she was filled with excitement of new ideas and creations and about opening up her own bakery. (25-2) Opening a bakery in NY was going to be very challenging because of the extremely challenging area. It was a highly competitive industry and you can get crushed. It was also very expensive and getting...
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Running Header: An Analysis of Leadership Theory; Personal Leadership Definition; and Personal Progress as a Leader An Analysis of Leadership Theory; Personal Leadership Definition; and Personal Progress as a Leader Maureen Gaffney Emmanuel College Abstract The objective of this paper is to compare and contrast theories between Kouzes and Posner, authors of Leadership Challenge, theorist Peter F. Drucker, author of The Effective Executve, and theorist Stephen R. Covey, author of The 7 Habits of Highly Effective People. Also included in the paper, are references to Douglas McGregor, author of The Human Side of Enterprise and his Theories X & Y, and Robert H. Rosen, author of Leading People. Finally, it is my goal to express my own views on leadership and how I personally would like to be perceived as a leader. For years, theorists have attempted to tap the human mind in order to find out what makes people tick, what motivates and moves them to work hard. Are ambition and drive innate traits which all humans share? Are most humans inclined to work as hard for someone else's gain as they are for their own? Why do some workers excel and some slack? All of the theorists mentioned in this paper have made it their business to research the human mind and spirit in order to pinpoint the real connection that leaders must make with people in order to gain loyalty and the extra mile. As with Abraham Maslow's Hierarchy of Needs, people need to realize certain human needs sequentially in order to mature. The most important task of any leader is to tap the minds of all their employees. They need to connect and relate to the people working for them. The "what's in it for me?" attitude, is an unspoken barrier that all leaders must break through. Employees are compensated with paychecks, benefits, sometimes rewards, etc., but no one individual is obligated to give any more than they can get away with in any eight hour period....
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POLITICAL SYSTEM a) Political structure · Government type – Republic · Head of state/government - President Thabo Mbeki b) Political parties · Since the transition to democracy in 1994, South Africa has been ruled by the left-leaning African National Congress (ANC). The ANC was the major source of opposition to the minority white governments of the Apartheid era, and has reaped the rewards in terms of solid electoral mandates in both the general elections held since the transition to democracy in the early 1990s. · The Democratic Party has become the most vocal source of liberal opposition to the ANC, under the leadership of Tony Leon. However, the party remains a predominantly white organization, and is unlikely to gain in influence unless it is able to broaden its appeal. The other significant player in South African politics is the Zulu nationalist Inkatha Freedom Party (IFP), which won 34 seats in the 1999 election. · The ANC was led to victory in 1999 by Thabo Mbeki, the former president Nelson Mandela having fulfilled his vow to hold power for only one term. Mbeki had been effectively running the country for two years prior to the poll, so the end of the Mandela era has had few effects on the direction of policy. d) Stability of government · Politics in South Africa has struggled to shake off the divisive language of race and ethnic grievance. The ruling African National Congress (ANC) continues to scare off white support, and even within the black communities divisions between Xhosa and Zulu groupings are reflected in the animosity between the ANC and the Zulu nationalist Inkatha Freedom Party (IFP). · Nevertheless, the political situation has proven remarkably stable, and there was a marked decrease in political violence during the 1999 election, in comparison to the political assassinations and violence during the country's first proper democratic contest...
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China's Automobile Industry Where is the world's largest untapped market for the auto industry? The answer is China, of course. It is following the same path to success that South Korean automakers took in the 1980's. Now that China has joined the World Trade Organization (WTO), the elimination of trade barriers provides a great opportunity for foreign companies. China is an emerging market, a country making an effort to change and improve its economy with the goal of raising its performance to that of the world's more advanced nations. We'll begin by analyzing the role of regional economic integration in Asia, the Asian Pacific Economic Cooperation (APEC). Then we'll compare and contrast some of the economic development stages of the surrounding countries and the effects of the economic development for global business. We'll also discuss the benefits of some of the major drivers of globalization in the Asian region. And finally it will be determined why the automobile industry is one of the leading industries that the Chinese government is aiming to develop in the future. Role of Regional Economic Integration What do we mean by regional economic integration? Our textbook, International Business, defines it as "agreements among countries in a geographic region to reduce, and ultimately remove, tariff and nontariff barriers to the free flow of goods, services, and factors of production between each other."(p.232). There have been few significant attempts at regional economic integration outside of Western Europe and the Americas. The two most significant groups are the Association of Southeast Asian Nations (ASEAN) and the Asian Pacific Economic Cooperation (APEC). Both have emerged as the beginning of a potential free trade region (Hill, C.W.L., p. 253). APEC was founded in 1990 at the suggestion of Australia. It currently has eighteen member states including the United States, Japan, and China. The eighteen member states...
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An Evaluation of the Tourism Industry in the South West of England and a Segmentation Analysis and Determination of Relevant Target Customer Groups
Executive Summary This report details an evaluation of the tourism market place in the South West of England looking at changes in the market and the factors (PESTE Political, Economic, Socio-cultural, Technological and Ecological) affecting the tourism industry. A segmentation analysis was carried out looking to identify target customer groups for Tintagel Castle, Cornwall. The principal groups identified were the visiting friends and relatives category and family groups including pre-family, with family and post family. The buying criteria that the target groups will apply when deciding which attraction to choose to visit were briefly considered. Table of Contents Page 1.0 Introduction 3 2.0 Market Place Evaluation 3 2.1 Segmentation 4 2.2 The Segments 5 2.3 Targeting the Segments 7 2.4 Buying Criteria of the Segments 8 3.0 Conclusions 9 4.0 References 9 5.0 Bibliography 10 Appendix 1 - Tourism in the UK Appendix 2 – PESTE Analysis of the South West Tourism Market 1.0 Introduction In order to maintain or increase the number of visitors to the castle it is important that we understand and meet the needs of the visitors. As such it is important that we can analyse the market place and identify who are our primary visitors and target our marketing at the groups or "segments" that will maximise our visitor numbers through appropriate channels. To determine market segments and decide which market segments to target it is first necessary to carry out a market place evaluation. Broadly this would encompass political, fiscal, economic, legal, technological and ecological factors that will affect the tourism industry in the UK as a whole and more specifically issues relating to the South West. • Aims and Objectives To carry out a market place evaluation of the South West of England region and to conduct a segmentation analysis of the local population. To determine the relevant target customer groups and consider the criteria they will apply to the buying decision. 2.0 Market Place...
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Introduction Hyman focuses on three interpretations of the title 'Imagined Solidarities'. Firstly, he believes that worker or trade union solidarity is an unattainable concept. Secondly, he states that solidarity is nothing more than an unrealisable utopian ideal. Thirdly, he believes the integration of diverse employee interests can only be achieved through post-Fordist creative and innovative means. Marx (1867) believed that workers were united by a common interest and that unions had a mission to voice this interest. There are three foundations for this assumption. The first foundation was the idea that human emancipation required material force. Piore and Sabel (1984) describe Marx' view that the Government was an accomplice to the landlords' oppression of peasantry. For a whole class to have its interests addressed the entire society to which it belonged had to change. Secondly, Marx believed that those workers who did enjoy distinctive interests did so as relics of a pre capitalist society. Advancing capitalism was destroying traditional skills and homogenising the proletariat. Piore and Sabel disagree, arguing that craft production complemented mass production because the specialist machines used in mass production could not themselves be mass-produced. Thirdly, Marx felt that once the proletariat realised that it was in fact a 'class', it would unite and form a common identity. Trade unions developed to voice the common interests of this class. However, Hyman argues against Marxist theory. He believes that while solidarity implied the perception of commonalties of interest and purpose, it in no way abolishes awareness of individual circumstance. Instead he states that unions help shape workers own definitions of their individual and collective interest. This is reflected even in early trade unions, which were guilds of individual craftsmen or an individual industry. Paradoxically, Hyman is in fact a Marxist because he pursues the idea that there is a place...
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An extensive literature on the behavioural aspects of budgeting discusses the propensity of managers to create budgetary slack.Based on the above statement, explain three ways in which managers may attempt to create budgetary slack and how senior mana
Budgetary slack or sometimes it is referring to budgetary bias, is a common process where implementer intentionally underestimates revenue or overestimates expenses in the tight budget. Managers may attempt to create budgetary slack in three ways. Managers may deliberately underestimate the production or sales budget¡¯s potential. For example, the sales budget for the month of July is RM 1 million. If the manager is able to achieve the target budget then the sales budget for the following month will be increases to RM 1.5 million. Manager creates budgetary slack by undervalue the budget so that the budget for August will be easier to achieve although they are able to hit the tight budget. Manager may also attempt to achieve slack by cost overestimation. They purposely used more than the budgeted expenditure so that the budget will be increases for the following months. After that they spend less than the budgets to shows that they have improve in their performance. For instance, the cost budget is set to be RM 1 million in January. Then the manager spends RM 1.2 million in their expenditure so that the cost budget will be increase to RM1.2 million in February. Subsequently, they spend only RM 1.1 million in March which is RM 0.1 million lesser than February to prove that they have better performance. Moreover, manager may use up all the budgets to pretend that there is no slack in the recent budget. Manager may waste his extra cost budget on non-essential expenses. Let say the cost budget is RM 2 million for March, the manager will try to finish his allowance although he only spend RM1.8 million. This may cause by the fear of the manager that the future budget will be reduces unless the allowance is fully utilise. If the budget being reduces, then this...
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This paper will examine Scott Simmerman's article, "Teaching the Caterpillar to Fly – Some Ideas on Managing Change (1999)." Resistance to change from the viewpoint of a highly resistant caterpillar will be discussed. The value of people as idea generators in discussion type settings will be identified as a benefit of diversity. This benefit when put to work in a team setting can lead to improvements which the Dilbert cartoon illustrates are so globally needed. Including people in the improvement process helps them overcome the natural resistance response to change allowing them to transition from caterpillar to butterfly. "People will often resist change because they are comfortable with how things are, right now. By identifying Square wheels and Round Wheels, we increase discomfort with the way things are and we make change more likely" (Simmerman, 1999, p. 12). This author can relate to this in the work center that she currently finds herself employed. With the advent of technology, there are many opportunities for improvement. Computers and programs introduce and make round wheels available making the square way of doing things inefficient and obsolete. Unfortunately, people often resist change. This author, a purveyor of change, often encounters it. One coworker confided that "This is the way I have been doing it for 20 or more years. I am comfortable doing it this way and your wanting to change things is a shock to my system" (R. Correa, personal communication, n.d.) "Two caterpillars are conversing and a beautiful butterfly floats by. One caterpillar turns and says to the other, You'll never get me up on one of those butterfly things." (Simmerman, 1999, p. 1) The theme of this story is about resistance to change. It doesn't matter if the change is beneficial it is still going to meet with resistance. When Simmerman (1999,...
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Question # 1: What role and status does he occupy in the organization? Answer: Taking into context, in particularly the hierarchy of the HR department, he occupies the position of an executive as well as a generalist at the apex level of the organization. Basically within the HR department, he leads a team of seven employees thus co-ordinates directly with his assistant manager, law consultant, field research officer and for other HR officers, each concentrating a different HR function assigned to them which includes staffing, compensation & benefits, human resource development & labor relations. Question # 3: Which function does the HR department tends its focus/concentration on? Answer: He emphasized that the primary function of the HR department is to integrate organizational strategy with its HR strategy. This integration is only possible when all the functions of HR are linked with the overall mission & strategy of the organization. This means that the organizational goals should be transformed into departmental goals and the departmental goals into individual goals. Question # 4: How do you maintain co-ordination with the Board of Trustees as well as different levels/departments of the Trust Hospital? Answer: Considering the entire organizational hierarchy, he provides reports and feedback to the CEO. And at times gives presentations to the board of governors/trustees. QUESTION # 5: What are the responsibilities that you are expected to fulfill under the given status? Answer: His responsibility is to ensure and develop an explicit and clear understanding of the HR functions of the central personnel department, administration department, and the operations related units which include the Finance, Accounting and Marketing departments and then setting up clear cut implementing guidelines and demarcations. Besides the above, his priorities include keeping an open, conscious and vigilant eye on the performance and accountability of the members of the HR department team. Question # 6: What policies...
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Japan is the world's second largest economy with a gross domestic product of roughly more than AU$5.2 trillion in 1997.Japan's economy is larger than that of Germany, the United Kingdom and France combined. It is ten times the size of China and seventeen times the size of India. Japan represents almost three quarter of the entire Asian economy. Furthermore in 1996, Japan's economy had the highest growth rate of 3.6% in the industrialised world. The Japanese economic pie grew at an annual rate of ten percent from the mid 1950's until the Arab oil shocks of the early 70's. The Japanese then managed to maintain much more modest but steady growth rates until the early 1990's. However, Japan's macroeconomic policy mismanagement deserves special attention, where in late 80's and early 90's, the Japanese government made two major macroeconomic policy mistakes. In 1986 when, following the sharp decline in the price of oil, the Yen appreciated more than expected and economic growth slowed more than desired, the sole policy response was monetary stimulus. Although the policy succeeded in accelerating the economic growth, the problem is that the policy was continued for too long. That was considered to be the first macroeconomic mistake. The second mistake was not in easing the monetary policy and fiscal policy sooner and more forcefully in the early 90's.The authorities saw the downturn as primarily a business cycle. They underestimated both the cumulative effect of structural problems, and the long-lasting effects of the huge ongoing decline in the asset values. During most of the 1980's,after achieving one of the highest economic growth rates in the industrialized world, the economy slowed considerable in the early 1990's. Sinking stock and real estate prices marked the end of the "Bubble economy" of the late 1980's. Moreover, over-investment and over-hiring in the late 1980's forced many...
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Reflection Paper #3 – Analysing Work Groups Application: I will be discussing a past experience I had upon assuming a leadership position in an established business area that was new to me. I will use the Model for Analysing a Work Group as a way to convey my experience and relate it to the learning experience from week 3. The challenge I had was to lead an established program team to improved performance and to motivate them to create new business opportunities. The system that the team supports has never gone through any improvements and the last 15 years has been only sustainment efforts. The physical environment was such that the team was located 2 miles away from the main facility. The team is constrained to a closed area due to a secret security classification. There have been no updates to the physical location since the program began and the condition of the facility was in poor shape. The social environment consisted of systems engineers, software engineers and hardware engineers. The informal organization was tight knit and social norms had been developed years ago. The formal organization is resident in the main facility, which is 2 miles away. The department director has been replaced about every 2 years since the program began. The majority of the components within the system are complex, and because of this, the customer has always considered these components as sole-source and they are not competed in the marketplace. This has allowed the area to operate with little fear of outside competition from other vendors. This has unfortunately resulted in a false sense of security and performance has been declining. Analysis: The contextual factors have been a key determinate in defining the culture of the program team. The base design for the current system configuration came from another business area, which is located...
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I have examined the Profit and Loss Statements and Balance Sheets for the two-year period of 2003 to 2004. The following report will evaluate the firm's profitability, financial stability and aspects of management efficiency as measured by various financial ratios. Comparisons will be made where possible, both within the organisation and with the current industry averages. Recommendations will also be suggested for the areas in need of concern. FINANCIAL STABILITY The current ratio measures the business's financial health, indicating if the business would be able to meet its current obligations by measuring if there are enough assets to cover the liabilities. For 2003 and 2004, the business's current ratio was 1.21:1, 0.99:1 respectively, both times above the industry average. However, although the current ratios for the two years were above the industry average, the common rule of thumb is 2:1. For 2004, the ratio was below 1:1, and can therefore the current assets of the business would not be sufficient enough to pay current liabilities. This situation seems to have been brought about by the use of short-term funds to purchase a long-term asset – the land and buildings. Such a practise is not desirable and could result in long-term problems for Mr Lee. The equity ratio measures the percentage of funds provided by owner. For 2003, the funds provided from internal sources (the owner, i.e., Mr Robert Lee) were 43.44%. This figure indicates that Mr Lee was 4.62% above the industry average. The other funds must be debt funds that come from outside sources (liabilities). During 2004, the equity ratio dropped to 40%, 1% below the industry average. It is a good time to borrow due to low interest rates and tax-deductible interest. EARNING CAPACITY The gross profit ratio measures the profit per dollar of sales. In the year 2003, Robert Lee Enterprises produced...
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Page 1 This paper seeks to contribute thinking on how the intellectual foundations of antitrust might be updated, based on a large body of theoretical and empirical research on company strategy, competition, and economic development. The aim is to outline a new direction for antitrust that can be incorporated into government policy and legal practice and pursued in litigation and legislation, both in the United States and internationally. This new thinking sets forth productivity growth as the basic goal of antitrust policy, and employs tools like industry structure analysis and locational analysis to evaluate potential impacts on competition. While there appears to be broad consensus on how to deal with much anticompetitive behavior such as deceptive practices and cartel formation, the current fault line in antitrust is the treatment of mergers. This paper therefore focuses on the evaluation of mergers, though the same framework can be applied to evaluating joint ventures, other combinations, and other competitive practices. Finally, it should be noted that this paper is concerned principally with the content of antitrust, not the many important issues involved in structuring antitrust agencies and designing processes of enforcement. Section II argues that the true benefits of healthy competition are not fully articulated in much antitrust analysis. By linking competition to a nation's standard of living through productivity growth, it becomes apparent that far more is at stake in protecting competition than short-term consumer welfare defined by price-cost margins. Empirical evidence is provided to highlight the importance of protecting the vitality of competition. Furthermore, it is argued that local competition within a nation is particularly crucial for competitiveness, even in the era of globalization. Section III proposes that productivity growth become the new standard for antitrust, and reassesses the hierarchy of antitrust goals accordingly. Since healthy competition will foster productivity growth, antitrust must be equipped with adequate tools and frameworks for evaluating the health of competition. Yet frameworks broader than current practices resting in relevant market definitions and...
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