The Domino Effect Essay Example | Topics and Well Written Essays - 750 words

The Domino Effect - Essay Example Through increased exports, current account deficit tend to correct itself and bridge the gap. However, what has been observed that in real world is something different. It has been observed that currencies of the countries with large deficits have witnessed great appreciation in the value over the period of time. The apparent reason for this appreciation in currency is the fact that the emergence of new emerging market economies like India, China, Brazil, South Africa etc has witnessed a marked decrease in the overall risk profile of developing countries. This coupled with increased interest rates saw the strong inflow of speculative capital into those countries which increased the overall attraction for the currencies of the countries having large current account deficits. The increase in the interest rates has been attributed mainly as the most important factor which attracts foreign investors and hence increases the overall attractiveness of the currency and helps stimulate its ap preciation in foreign exchange market despite country running a large current account deficit. The author further cited the examples of some countries like New Zealand, Australia, Britain and Iceland, which despite their large and persistent current deficits tend to have higher gains in their currencies. Theoretically, it has been argued that there is a relationship between the two variables however, empirical studies have proved it otherwise as there is very weak or no relationship between the two variables. These trends in current account financing however seems to be reversing because of the current financial turmoil in the markets. The article further went on to discuss that the same relationship however do not to persist over the sustained period of time and foreign capital inflows tend to dry up thus forcing current account deficits to much higher spreads. Further, the trends seem to hold when foreign investors investing into the countries with high current account deficits tend to be more risk averse. A slight change in the overall risk appetite of the foreign investor s may reverse the relationship and with increased current account deficit, inflationary pressures may further damage the trust of international investors hence virtually reverse the process of current account deficit financing through high interest rates. The above graph shows the relationship between the Current Account Deficit (CAD) and the growth in currency in Australian Markets. This graph very clearly indicates that the relationship between current account deficit and the currency appreciation and shows that as the CAD accumulated so does the exchange rate. Another important characteristic which is depicted in the above graph is the rise of bank credit with the rise in CAD and exchange rates. The higher inflows of foreign investment finally seem to be ending up in the form of local bank deposits. It is also important to mention that the article discussed the effect of foreign investments from two perspectives. First is foreign direct investment which is believe to have a less volatile nature and fluctuate less with current account deficit therefore has lesser correlation with the exchange rates. However, the speculative portion of foreign investment, the so called speculative capital, tends to show a relationship with the exchange rates and current account deficit. The below mentioned graph depicts some of the forecasted relationship betw

The Dust Bowl Essay Example for Free

The Dust Bowl Essay The dust bowl was a period of severe dust storms that causes damage to prairie lands from 1930 to 1936, some areas until 1940. Whoever thought before this that dust could kill Americans and affect their life’s forever. This historical event will be a moment in time that will be in our memories forever because it is an event to learn from and never forget. The main states that were affected by the dust bowl were Colorado, Kansas, Oklahoma, Texas , and New Mexico. Nebraska, Wyoming, South Dakota, North Dakota, Montana, and some parts of Canada were also affected. These states were affected because there was a lot of farming and in this area and because of the warm climate they acquire very bad droughts. These dust storms were caused by severe drought and poor farming techniques such as no crop rotation. They dug to deep into the ground, which destroyed all of the roots and grass in the ground that holds the soil down. Having too much agriculture, planting, overgrazing, and harsh winters were too much for the land to handle. Farmers also did not use the correct methods for the environment, which caused erosion. For example cotton farmers cleared fields and left them for the winter months. Winds are the highest during this time, so the grasses that should have held the soil in place were not there. This created huge dust clouds because of the dry topsoil being carried in the wind In 1932, 14 dust storms were recorded in the plains. In 1933, there were 38 storms. In 1934, around 100 million acres of farm land had lost almost all of the top soil because of the wind. The dust storms caused dirt to get into houses no matter how hard the family tried to prevent it from happening Dirt also got into automobile engines and caused problems and even prevented them from operating. People wore masks to prevent the dust from getting into their lungs, but yet hospitals reported hundreds of patients sick with dust pneumonia Often these dust storms would come so suddenly that farmers would get trapped out in their fields and would suffocate The dust storms were so bad that people could not continue living there any longer. Many families packed their belongings and left there homes. Victims of the dust bowl migrated to California and other places on the west coast. They tried to go wherever they could in search of jobs. Many of them did not find jobs because of the depression. Often families lived in tar-paper hacks with no floor or plumbing. By 1940, 2. 5 million people moved from the dust bowl states. Government programs were set up to help the farmers and their families Programs were developed for soil conservation, and new methods and techniques were taught. The government also gave the farmer money and seeds to help them start over. The farmers were told to plant trees and grass to anchor the soil so that the same problems would continue no longer.

In Favor of Social Security Reform :: Economics Politics Argumentative Essays

In Favor of Social Security Reform There are millions of Americans affected by social security. These Americans rely on social security to provide them with financial security. Recently President Bush agreed to proposing a method of privatizing the social security program so that in the future the vast reserves of the social security system would not run out nearly as fast. With the always increasing rise in inflation, and the baby boomer generation reaching ages of retirement fairly soon, this is an issue that needs to be dealt with correctly and rapidly. The way the president is handling the situation is definitely the right way to do it. There are many things and ways in which to do it wrong, but the president seems to be pointing the plans of social security in the right direction. The president’s plans of reforming social security are right because the privatization is the best way to go, changing the rules for those who would apply for it increases the savings and makes the money go farther, a nd working with the distribution of different tax percentages would really make the money go a lot farther. To understand how privatizing social security will help the social security program in the future, first it is important to know what it is and what it does. How social security works now is that everybody that gets benefits from the social security program all get them from one big pot, so to speak. By privatizing the different accounts, they can earn interest faster and make more money for the consumer on an individual basis. This can work better to because the accounts are individualized and earn the right amount of money for the different financial situation that the person is in. This will be a big change for the way that social security is run, but it is for the better and it will help lots of older Americans and the social security program in general for years to come. One of the big questions when dealing with the privatizing of social security is where it leaves the minority groups. All minorities are affected, but the African Americans are most likely the ones that will need to deal with it most.

Power Balance Bands Conclusion Essay

The intent of this experiment was to one time and for all answer the inquiry. â€Å"do the Power Balance Bands genuinely have an consequence on a person’s balance strength and flexibleness or is the whole thing a cozenage? † The company claims that the these watchbands have a holograph in it and when the holograph comes in contact with your body’s energy field. it allows your organic structure to interact with the natural. good frequence stored within the holograph. ensuing in improved energy flow throughout your organic structure. But is this true? The original claim for this experiment was that if people are have oning the power balance set while take parting in assorted balance. strength. and flexibleness trials so the set will in fact non hold any consequence on the individuals balance. strength. or flexibleness. The information showed a really little difference between the public presentation of the â€Å"fake† and â€Å"real† Power Balance Bands. All three trials showed no more than a. 3 % difference between the agencies for both sets. This experiment was basically an experiment proving the placebo consequence on the usage of the Power Balance Bracelet. The placebo consequence is the mensurable. discernible. or felt betterment in wellness or behaviour non attributable to a medicine or invasive intervention that has been administered. The end was to convert people the â€Å"original† Power Balance set really worked. and that the â€Å"fake† one didn’t. My consequences showed small to no alteration in public presentation regardless of which band the pupil was have oning. This observation confirmed my hypothesis that neither set would hold any affect on a person’s public presentation. The systematic mistake in this experiment was that I was non able to prove 50 trials capable. I was merely able to prove 36 which fortunately still allowed me to acquire accurate consequences. The Random mistake in this experiment was that it was hard to mensurate the betterment. or aside of the participants. for both the Balance Test and the Strength Test. The merely recorded restriction for this experiment was the fact that while executing the Balance and Strength Test if each participant made to 10 seconds while equilibrating they were stopped and had their abilities observed and recorded. The generalizability of the consequences can use to all worlds nevertheless ; this experiment is sole in that it can non be generalized for all other objects. insects. or animate beings. For future waies I would increase the sample size. and besides change the trials so that they can be measured by something other than clip.

Analysis of the Effects of Modernism and Post-modernism on Management Practice Essay

The concepts â€Å"modem† and â€Å"post-modern† have become common currency in intellectual debates regarding organizational theory. Within such debates, the postmodern is perceived as an epoch, a perspective, or an entirely new paradigm of thought (Callas 1999, p. 649). Such a conception of the aforementioned term stems from its rootedness in the conception of the modern. Chia (1995) notes that what distinguishes the postmodern from the modem is â€Å"a style of thinking which eschews the uncritical use of common organizational terms such as ‘organizations’, ‘individuals’, ‘environment’, ‘structure’, and ’culture’, etc† (p. 79). These terms refer to the existence of social entities and attributes within a modernist conception of organizational cultures. The rationale behind this lies in the ontological conception of being which privileges thinking in terms of discrete phenomenal states, static attributes and sequential events. As opposed to such an ontological conception of reality, the postmodern stands as the champion of weak forms of ontology that â€Å"emphasize a transient, ephemeral and emergent reality† (Chia 1995, p. 579). If such is the case, it thereby follows that a postmodernist perspective of reality adheres to thought styles wherein reality is deemed to be continuously in flux and transformation and hence unrepresentable thereby impossible to situate within a static conception of reality. Within the sphere of organizational management, an adoption of a post-modernist perspective of reality thereby leads to a rethinking of the modern conceptions of organizations since adherence to postmodernist perspectives lead to the de-emphasis on organizations, organizational forms and organizational attributes. Such a conception of reality, however tends to emphasize the importance of local forms of organizational methods, which collectively define a social reality. In a sense, the shift from a modern to a postmodern conception of organizations thereby leads to the re-definition of existing ontological conceptions of reality that determine the various forms of intellectual priorities as well as theoretical stipulations in the study and conception of organizations. In lieu of this, this paper’s will provide a contextualization of the implications of such perspectives within organizational structures. The analysis of such will be determined through the analysis of the effects of such perspectives in relation to management practices. An example of the application of the postmodernist perspectives within the field of organizational theory is evident in the Foucauldian analysis of human resource systems. Edward Baratt (2003) notes that a Foucauldian conception of organizational structures has enabled the formation of â€Å"a conceptual architecture and a method for exploring and problematizing Human Resource Management† (p. 084). Baratt notes, a Foucauldian conception of organizations has enabled the formation of conditions wherein all members of an organization may engage in â€Å"the practice of critical truth telling† (p. 1085). The importance of such may be fully understood if one considers its effects in relation to the two dominant paradigms that dictate Human Resource Management discourse: managerialist and critical evaluative positions. Jacques (1999) notes, â€Å"Managerialist and critical evaluative positions in binary opposition to each other constitute the main sites from which we can speak academically about HRM† (p. 200). The distinction between the two positions are evident if one considers that in one line of argument has been an emphasis on the production of an enterprising subject dependent on practices designed to engage an employee’s psyche. The possibility of such lies in the formation of managerial practices that opt for the continuous subjectification of the subject [in this sense the employee]. Within such managerial practices, the subject is placed within various forms of practices of subjectification that leads to the development of different form of competencies that further lead to the continuous embeddedness of the subject within the organization. The difficulty within such a managerial method lies in its creation of a fabricated subject. The pragmatic aspect involved within such a method, however, may be traced to its ability to create productive subjects [productive employees]. As opposed to such a totalizing form of managerial methodologies, alternative arguments [of the postmodernist kind] emphasize the possibility of enabling the co-existence and interrelationships between human resource technologies of the self and other disciplinary practices specifically those situated within the grounds of technological and accounting controls (Baratt 2003, p. 1084). A popular theme of such methodologies gives emphasis on the intensification and sophistication of surveillance and control method [through technological and accounting measures]. Within these method, management methods are thereby perceived as enabling the formation that determine the relationships within the workplace by taking control of indeterminate relationships [amongst the members of the workplace] through the imposition of increase surveillance methods that â€Å"impose order on the inherently undecidables† conditions of the workplace. Such a methodology thereby adheres to a postmodernist conception of human relations and social reality as it opts to clarify the indeterminate variables within organizations through the use of â€Å"effective instruments for the formation and accumulation of knowledge-methods of observation, techniques of registration, procedures for investigation and research, apparatuses of control† (Foucault 1980, p. 102). Within such a scheme, the function of management systems [and hence of managers] lies in ensuring the maintenance of â€Å"the precarious local orchestration of material, technical and social relationships which give rise to relatively stabilized configurations† (Chia 1995, p. 601). The heads of the management of organizations, in this sense, are thereby tasked with ensuring the implementation as well as the continuous development of more efficient production practices within the surveillance scheme of management systems. Analytic evaluation schemes used in forming job evaluations will thereby be created so as to ensure the ordering of a population. Managerial positions, in this sense, may be seen as the roles that enable the implementation of the surveillance scheme that enables the continuous effectiveness of a human resource management system. In summary, the effects of the tenets of both modernism and postmodernism are evident within the workplace [or within organizational theories of management and hence management itself] as they influence the historical means of constructing the relations within the workplace. The modernist conception, which perceives reality as bound by static relations, failed to account for the indeterminate variables resulting from the complexity of power relations within the workplace. Such a complexity, however, was accounted for by a postmodernist perspective of organizations due to its recognition of the fluidity of social relations as a result of their embeddedness within the discourse of power and knowledge that define the conditions within any sphere [in this context the public sphere]. Within the field of Human Resource Management, the construction of knowledge operates through rules of classification, ordering, and distribution evident in the definitions of activities and the formation of rules of procedure, which determines a particular institution’s management discourse. The importance of postmodernist perspectives lies in its promise of the possibility of autonomy within such a predefined and hence rigid sphere. The possibility, in this sense, may be attained through enabling the co-existence and interrelationships between human resource technologies of the self and other disciplinary methods. In line with the postmodernist [specifically Foucauldian discourse], the postmodernist has thereby enabled the development of Human Resource Systems and hence Management systems that enable the formation of an understanding regarding the means in which various individuals may be formulated so as to create a system which allows the creation of objectivity amidst the grounds of subjective wills.

Shogatsu - Japanese New Year

Shogatsu - Japanese New Year Although Shogatsu means January, it is celebrated for the first 3 days or the first week of January. These days are considered the most important holidays for the Japanese. One could equate it with the celebration of Christmas in the west. During this time, businesses and schools close for one to two weeks. It is also a time for people to return to their families, which leads to the inevitable backlog of travelers. The Japanese decorate their houses, but before the decorations start to be put up, a general house cleaning is done. The most common New Years decorations are pine and bamboo, sacred straw festoons, and oval-shaped rice cakes. On New Years eve, bells (joya no kane) are rung at the local temples to speed out the old year. The New Year is welcomed in by the eating of year-crossing noodles (toshikoshi-soba). Casual western style clothing is replaced with kimono on New Years day as people go for their first temple or shrine visit of the New Year (hatsumoude). At the temples, they pray for health and happiness in the coming year. The reading New Years cards (nengajou) and the giving of gifts (otoshidama) to young children are also a part of the New Year celebrations. Food, of course, is also a big part of Japanese New Years celebrations. Osechi-ryori are special dishes eaten on the first three days of the New Year. Grilled and vinegary dishes are served in multi-layered lacquered boxes (juubako). The dishes are designed to be pleasant to look at and keep for days so that the mother is free from having to cook for three days. There are some regional differences but the osechi dishes are basically the same nationwide. Each of the food types in the boxes represents a wish for the future. Sea Bream (tai) is auspicious (medetai). Herring roe (kazunoko) is the prosperity of ones descendants. Sea tangle roll (kobumaki) is Happiness (yorokobu). Related How to Say Happy New Year in Japanese

Mercury 13 - First Lady Astronaut Trainees (FLATs)

Mercury 13 - First Lady Astronaut Trainees (FLATs) In the early 1960s, when the first groups of astronauts were selected, NASA didnt think to look at the qualified female pilots who were available. Instead, the agency focused on test and fighter pilots, roles that were denied to women, no matter how well they could fly. As a consequence, the U.S. didnt fly women in space until the 1980s, while the Russians flew their first female astronaut in 1962. First Efforts That changed when Dr. William Randolph Randy Lovelace II invited pilot Geraldyn Jerrie Cobb to undergo the physical fitness testing regimen that he had helped to develop to select the original U.S. astronauts, the Mercury Seven. After becoming the first American woman to pass those tests, Jerrie Cobb and Doctor Lovelace publicly announced her test results at a 1960 conference in Stockholm and recruited more women to take the tests. Testing Women for Space Cobb and Lovelace were assisted in their efforts by Jacqueline Cochran, who was a famous American aviatrix and an old friend of Lovelaces. She even volunteered to pay for the testing expenses. By the fall of 1961, a total of 25 women, ranging in age from 23 to 41, went to the Lovelace Clinic in Albuquerque, New Mexico. They underwent four  days of testing, doing the same physical and psychological tests as the original Mercury Seven had. While some had learned of the examinations by word of mouth, many were recruited through the Ninety-Nines, a women pilots organization. A few of these pilots took additional tests. Jerrie Cobb, Rhea Hurrle, and Wally Funk went to Oklahoma City for an isolation tank test. Jerrie and Wally also experienced a high-altitude chamber test and the Martin-Baker seat ejection test. Because of other family and job commitments, not all of the women were asked to take these tests. Out of the original 25 applicants, 13 were chosen for further testing at the Naval Aviation center in Pensacola, FL. The finalists were dubbed the First Lady Astronaut Trainees, and eventually, the Mercury 13. They were: Jerrie CobbMary Wallace Wally FunkIrene LevertonMyrtle K CagleJaney Hart (now deceased)Gene Nora Stombough [Jessen]Jerri Sloan Now deceased)Rhea Hurrle [Woltman]Sarah Gorelick [Ratley]Bernice B Trimble Steadman (now deceased)Jan Dietrich (now deceased)Marion Dietrich (now deceased)Jean Hixson (now deceased) High Hopes, Dashed Expectations Expecting the next round of tests to be the first step in training which could conceivably allow them to become astronaut trainees, several of the women quit their jobs in order to be able to go. Shortly before they were scheduled to report, the women received telegrams canceling the Pensacola testing. Without an official NASA request to run the tests, the Navy would not allow the use of their facilities. Jerrie Cobb (the first woman to qualify) and Janey Hart (the forty-one-year-old mother who was also married to U.S. Senator Philip Hart of Michigan) campaigned in Washington to have the program continue. They contacted President Kennedy and vice-president Johnson. They attended hearings chaired by Representative Victor Anfuso and testified on behalf of the women. Unfortunately, Jackie Cochran, John Glenn, Scott Carpenter, and George Low all testified that including women in the Mercury Project or creating a special program for them would be a detriment to the space program. NASA was stilling requiring all astronauts to be jet test pilots and have engineering degrees. Since no women could meet these requirements due to being excluded from such service in the military, none qualified to become astronauts. The Subcommittee expressed sympathy, but did not rule on the question. Nevertheless, They Persisted and Women Went to Space Former Soviet Cosmonaut Valentina Tereshkova and U.S. astronaut Cady Coleman (right), together before Colemans 2010 launch to space from the Baikonur Cosmodrome in Kazahkstan. NASA   On June 16, 1963, Valentina Tereshkova became the first woman in space. Clare Booth Luce published an article about the Mercury 13  in Life magazine criticizing NASA for not achieving this first. Tereshkovas launch and the Luce article renewed media attention to women in space. Jerrie Cobb made another push to revive the womens testing. It failed. It took 15 years before the next U.S. women were selected to go to space, and the Soviets didnt fly another female for nearly 20 years after Tereshkovas flight. Sally Ride was the first U.S. woman astronaut. NASA In 1978, six women were chosen as astronaut candidates by NASA: Rhea Seddon, Kathryn Sullivan, Judith Resnik, Sally Ride, Anna Fisher and Shannon Lucid. On June 18, 1983, Sally Ride became the first American woman in space. On February 3, 1995, Eileen Collins became the first woman to pilot a space shuttle. At her invitation, eight of the First Lady Astronaut Trainees attended her launch. On July 23, 1999, Collins also became the first woman Shuttle Commander.   Today women routinely fly to space, fulfilling the promise of the first women to train as astronauts. As time passes, the Mercury 13 trainees are passing on, but their dream lives on in the women who live and work and space for NASA and space agencies in Russia, China, Japan, and Europe.   Edited and updated by Carolyn Collins Petersen.

Free sample - Problems Related to Bullying of Students. translation missing

Problems Related to Bullying of Students. Problems Related to Bullying of StudentsBullying of Students in Schools and Suggested Solutions Bullying of students in schools has both long ranging emotional and physical problems to both the students being bullied and the bully. The emotional problems that the bullied children encounter are quite enormous (Olweus, 1994, p.23). Some of these problems are lack of self esteem for the student since if the form of this bullying involves teasing; abuses or even physical beating they weigh down the emotions of the child leaving them feeling unworthy to live. Stress is eminent in children being bullied in school and this will always cause the child mental problems in the future if not mitigated in time to allow the child to live a normal life (Craig ,1998, p.13). The issue of stress will generate a further problem in the child where you are likely to witness diminishing academic performance. Bullying can also lead to lack of social confidence. This occurs mainly because the child will feel they lack in their social standing and that is why they are constantly bullied by their peers. They also feel that they are being silenced and that way they may not have the confidence to even face those in authority and explain what is happening to them. This fact aggravates the situation because this will give their bullies the confidence to perpetrate this vice further. Behavioral change occurs in students who constantly get bullied. this may manifest itself in all manners ranging from withdrawal symptoms, unhappiness, poor appetite, complaining of being always 'sick' so as to avoid going to school even in situations where the student had been very enthusiastic about it daily, and avoidance of using certain routes which the student used routinely (Craig ,1998, p.16). These issues will always affect the students’ ability to live a free life due to the fear of being attacked by their bullies. Being frightened is also a problem associated with bullying in schools. Students who are constantly bullied are always frightened and this will hamper the students' ability to socialize freely with the people around them. The underlying problems generally associated with bullying not only affect the bullied students but also affects the bully themselves. These behaviors may culminate in poor academic performances on these bullies since once they do it they may have a sense of satisfaction thus leading poor concentration on studies. Some of them do it to get noticed by their peers and this also gives them a sense of pride despite poor grades in school (Salmivalli, Lagerspetz Bjà ¶rkqvist, 1996, p.7). Students who bully their fellow students may carry this behavior to their adulthood leading to poor social interrelations which may impede their pursuit of fine jobs since they do not fit well at work place. These behaviors may also lead to poor relationships in adulthood and affect their ability to establish family relations and even raise one (Whitney Smith, 1993, p.11). Students who get bullied are also affected physically. The physical attack on a student will leave the student with bodily harm which may be bruises or even serious injuries such as fractures in severe cases or deep cuts to the body. Severe bullying may also leave the students’ health deteriorating day by day. This may manifest itself in form of serious body weight loss. Students who have severe stress as a result of bullying may experience loss of appetite and lead to serious health problems such malnutrition, lack essential vitamins (Whitney Smith, 1993, p.11). Poor health may lead to poor brain development depending on the age of the student and in the long run lead to poor academic performances. Early childhood development being a crucial stage in life ought to be handled carefully so as to give the child a great future (Kaltiala-Heino, Rimpel Rantanen, 2000, p.6). When the above problems are noticed in school going children, it is imperative for parents and guardians to take the first step to establish what is bothering their children (Smith, 1999, p.5). This is because knowing and understanding the causes of their children's problems will give them the next cause of action towards eliminating the causes and helping their children to heal. Firstly, talk to your children and encourage them to talk freely about what they are going through, assuring them that whatever they are going through can be solved if they reveal all the details of their problems (O’Connell Pepler, 1999, p.18). It is important that you clearly tell the child all that you have noticed them in terms of behavioral change and also assure them that whatever they are undergoing is not their own fault and therefore revealing information will lead to solving all the problems they are undergoing. As a parent or guardian it is important to get to the bottom of the matter by gathering all related information from the child. This should include who has been bulling your child, when and where this occurred and maybe what may have triggered this to happen (O’Connell Pepler, 1999, p.18). Once these details are obtained from the child it gives the parent clear guidelines on how to approach the whole situation Parents are advised to encourage children to report the matter or any form of bullying to the school authorities whenever they occur, giving all the details of the vice to the best knowledge of their child (Olweus, 1991, p.12). In cases where the child is too frightened to speak about the same .parents are advised to take up the matter firmly and go to the school authorities and give the all the details as obtained from their child. By doing so, the authorities will find the matter more serious and give it immediate attention (Olweus, 1994, p.8). Schools are also advised to partner with the government so as to formulate policies of addressing cases of bullying in learning institutions for this will set up a framework within which schools will generate policies in line with the set legal framework.

Money is the Root of Good Essay Example | Topics and Well Written Essays - 1500 words

Money is the Root of Good - Essay Example Ancient people graduated from Barter trade to using precious metal coins as their form of money. Gold, silver, bronze among other metals served as money in the olden days. Today, money is accepted as physical currency made of paper and coins. The growing technology has also introduced an acceptable business platform that involves online trade where currency is rarely used. These transformations aim at making exchange of goods and services easy. Even though there are various evils associated with money, money’s goodness outweighs its associated evils, thus money is the root of good stands. In the ancient world when money had not been introduced, traders used to engage in barter trade whereby goods were exchange for goods based on mutually inverse needs. It was difficult to agree on the value of goods to be exchanged due to quantity and quality differences. Traders needed to come up with a material that would be used to stop the direct exchange of goods. Money stepped in to determine the value of various goods. Moreover, it was widely accepted. It is divisible and trade has been easy since its introduction in the markets (Wollenberg para 1). Money is any acceptable material of exchange in a transaction. In a hypothetical situation, absence of money would mean that there wouldn’t be any platform to conduct trade. People would acquire goods from others by forceful means. Money has enabled trade thus it is good (Wollengerg para 2). Anything used rightfully and fairly is good. This includes money and general wealth. Wollenberg tells of a story of a poor man whose generosity elevated his financial status in the community but once he became rich, selfishness stepped in. Shannon Christman, in her article â€Å"why money is not the root of all evil† argues that its not money that causes evil but the love for money. Christman suggests that if money was the root off all evil, then religious people would be striving hard to be as

The differences in educational attainment in class, gender and Essay

The differences in educational attainment in class, gender and ethnicity - Essay Example This discussion is in the context of ethnic groups, turns toward the socio-economic factors when one tries to find out reasons behind these differences. The Labour Force Survey( 2004/05) as in defined households poverty on the basis of income and presented the percentage of different ethnic groups. White British are 20% of the total with the lowest in income poverty. Compared to the Whites, 25% of Indian, 30% of Black Caribbean, 45% of Black African, 55% of Pakistani and 65% of Bangladeshi households are in income poverty. Strand and Lindsay (2009) reported an economic disadvantage on the basis of Free School Meal in the UK. They indicate that in 2005, 11% Chinese, 12% Indian, 14% White British pupils, up to 30% for the Black Caribbean, 34% for Pakistani, 44% Black African and 47% for Bangladeshi pupils.Patterns emerge between the achievement gap and socioeconomic disadvantage.The sociologist explains that such gaps are rooted in the economic backgrounds. Historically, as early as 19 60, it had been pointed out that poor children fell behind rich and middle-class during the early age and then stayed behind all school life. The most significant factor or factors had not been found. Sylva et al expressed that, in the early years, parenting practices and learning environment at home are crucial factors in educational attainment and progress.Hart and Risley conducted an intensive research project on language acquisition. The study continued for ten years and covered 42 families with newborn children in Kansas City.... Sylva et al, (2004) expressed that, in the early years, parenting practices and learning environment at home are crucial factors in educational attainment and progress. Hart and Risley(1995) conducted an intensive research project on language acquisition. The study continued for ten years and covered 42 families with newborn children in Kansas City. They families can roughly be divided into two classes naming ‘professional’ and ‘on-welfare’. During the first three years, they visited each family once a month. They recorded all communication between the child and the parents. The researchers then analyzed each child’s language development comparing the each parent’s communication style. They found the following amazing gaps Child Development Professional Families On-welfare Families Vocabulary by 3 years 1100 525 Parents Utterances per hour 487 178 Encouragement Expressions listened by 3 500,000 75,000 Discouragement Expressions listened by 3 80 ,000 200,000 Average IQ of the group 117 79 Table 1 developed on the data from Hart and Risley(1995) These findings from Hart and Risley(1995) expose some interesting and crucial relationships. The comparison of the vocabulary scores of each child correlated closely to the number of words the parents spoke to the child. Further, the child from lower socio economic class heard more discouragement and disapproval words whereas child from professional families heard encouragement and praise words most of the time. Children’s higher IQ , their higher vocabulary and the higher encouragement words by the parents have correlation among the professional families. On the other hand, Children’s lower IQ , their lower vocabulary and the lower encouragement words by their

To study the relation between satisfying and dissatisfying factors Thesis Proposal

To study the relation between satisfying and dissatisfying factors affecting workers productivity - Thesis Proposal Example Productivity of workers can not be enhanced unless the workers feel satisfied and committed to their work. Theory to focus on: Herzberg presented a unique theory about motivation in which he said that factors that cause dissatisfaction among workers in their workplace are not opposite to the factors that inculcate satisfaction in them. Herzberg drew the relationship between job satisfiers and dissatisfiers stating, â€Å"†¦job satisfiers deal with the factors involved in doing the job, whereas the job dissatisfiers deal with the factors which define the job context† (Herzberg, 1959 cited in Chapman, 2010). That essentially means that if the employers take measures to reduce the dissatisfaction among workers, they may effectively preclude all the factors causing dissatisfaction among workers. However, that does not mean that such an attempt of the employers would generate satisfaction among workers so that they would improve their performance. There is dire need to study t he relationship between the potential satisfying and dissatisfying factors so that measures taken by employers can be made effective in drawing the desired results by simultaneously addressing both satisfaction and dissatisfaction. Hypothesis: There is an inverse relationship between job satisfiers and dissatisfiers. If measures are taken to improve the workers’ satisfaction in their work, their dissatisfaction also declines.

Student survival guide personal action plan Essay

Student survival guide personal action plan - Essay Example University education requires a large amount of independent learning and often involves search for information. Information is required to construct ideas, theories, or data. A variety of sources provide such information; but the most obvious ones are the University Library and the internet. Libraries can be either paper libraries or digital ones, where the contents of books are stored in digital form. Searching for information in books consumes too much time and hence it is preferable to access digital libraries on occasions when time could be a limiting factor. Also, the information contained in a book may not be updated. Hence library searches are better conducted within digital sources. Searching through digital catalogues offers speed and convenience, with an added advantage that one can access these from remote locations. Internet is the most convenient source of information because time, space or location doesn’t constrain it. Following guidelines will provide an overview of how best to search the internet. But they are not exhaustive; the World Wide Web has such potential that people can, and need to customize it to meet their specific requirements: 2. Use a search engine that displays results from more than one source – sometimes referred to as a meta-crawler – info.com is one such, though google.com gives excellent results fast, provided the search criteria are selected properly. Advanced search options needs to be used to refine searches. Commercial sites tend to be unreliable as far as a student is concerned. University sites and sites with .org and .edu suffixes should be preferred. However, the objectivity of opinions expressed in individual sites must be assessed after careful reading, since many activist sites masquarade as authentic unbiased ones. Passing off another person’s work as one’s own is unethical, apart from being unlawful. However,

The expectation of fear Essay Example | Topics and Well Written Essays - 1000 words

The expectation of fear - Essay Example An in depth analysis of the essence of watching movies and reading articles that encompass creative violence is thus essential. To begin with, Rose (2011) notes that since the emergence of reading as a culture, and with the modern technological development of the internet, children have access to movies and video games whose contents can only be described as horrific, and which are quite immersive to the extent that after watching them elicit mixed reactions, that of excitement and fear. Jones gives an example of Oliver Twist’s achievement through increased readership of his works, having been made more accessible by developments in the print. While Jones notes that the upper class were not quick with embracing serialization as a means of enhancing the thrill in novels and thus increased entertainment among children, there existed a polite society that embraced it. Jones posits that watching violent media is critical to personality identification among children. While giving an example of himself of how watching Marvel comics formed the foundation for his true identity as a writer, who then became one of the greatest script writers, he observes that the move helped him in unlocking his potential and enabled him to overcome his fears and pursue his fantasies, which finally led to his career. Based on this argument, he discredits the claim by some critics that the recent gun-drama observed in schools across America is not as a result of violence media. He notes that ‘even the trashiest pop-culture story can have its own developmental function.’ He posits that just the mere pretension of possession of superhuman powers by a child plays a critical role in helping them overcome the feeling of incapability that hovers in the minds of children. He further notes that the dual nature of most characters playing superhero roles is healthy fo r children in creating a state of harmony between their innate feelings and

The Responsibility to Protect (R2P) principle is ill suited for the Essay

The Responsibility to Protect (R2P) principle is ill suited for the international legal system and must be abolished - Essay Example The R2P principle required the states to have the first priority in the protection of its citizens but failure to the concerned state to meet to the needs of its citizens, the international community will have the obligation to intervene. The international community would not wait and watch as it had the responsibility to preserve international peace, but not to enforce the laws of the concerned countries.2 However, the mandate of the principle has been exploited through interpretation of its tenets and through the application by humanitarian countries who intrude on the sovereignty of affected states leading to abuse. As such, it is imperative to note that the R2P principle is ill suited for the international legal system and must be abolished. The R2P principle gives consent to the international community to undertake humanitarian intervention with the aim of maintaining peace. However, narrowing down the concept of intervention implies that the international community can get involved in the internal affairs of a country without the consent of the affected country. That is clearly a violation of state sovereignty, which is in most times accompanied by military force.3 Furthermore, such form of intervention results in violations of fundamental human rights. When military forces from outside the boundaries of the country are involved in peace keeping mission without an obligation to enforce the law, the state of lawlessness is likely to result in a huge number of casualties and fatalities in case of combat.4 The UN Charter 2(4) holds ‘protection of human rights’ as its core purpose but then goes ahead to claim that any state can use force â€Å"in any other manner inconsistent with the Purposes of the United Nations†.5 This shows a problem in the interpretation of the mandate of R2P principle given the application of â€Å"force for good† theory. This interpretation is against territorial

The expectation of fear Essay Example | Topics and Well Written Essays - 1000 words

The expectation of fear - Essay Example An in depth analysis of the essence of watching movies and reading articles that encompass creative violence is thus essential. To begin with, Rose (2011) notes that since the emergence of reading as a culture, and with the modern technological development of the internet, children have access to movies and video games whose contents can only be described as horrific, and which are quite immersive to the extent that after watching them elicit mixed reactions, that of excitement and fear. Jones gives an example of Oliver Twist’s achievement through increased readership of his works, having been made more accessible by developments in the print. While Jones notes that the upper class were not quick with embracing serialization as a means of enhancing the thrill in novels and thus increased entertainment among children, there existed a polite society that embraced it. Jones posits that watching violent media is critical to personality identification among children. While giving an example of himself of how watching Marvel comics formed the foundation for his true identity as a writer, who then became one of the greatest script writers, he observes that the move helped him in unlocking his potential and enabled him to overcome his fears and pursue his fantasies, which finally led to his career. Based on this argument, he discredits the claim by some critics that the recent gun-drama observed in schools across America is not as a result of violence media. He notes that ‘even the trashiest pop-culture story can have its own developmental function.’ He posits that just the mere pretension of possession of superhuman powers by a child plays a critical role in helping them overcome the feeling of incapability that hovers in the minds of children. He further notes that the dual nature of most characters playing superhero roles is healthy fo r children in creating a state of harmony between their innate feelings and

Compare an revolution to civil war Research Paper

Compare an revolution to civil war - Research Paper Example The similarities and differences are also stated and explained. Revolution may be caused by army and rebellious groups with a certain motive which will be of their advantages. This leads to the major types of revolutions that are experienced globally. The first one is the violent and sudden revolution that seeks to transform the entire nation establishing new political systems that prioritize the citizens’ issues. The other revolutions are the political revolutions in which the government is replaced but other structures like property relations are left intact. The best example of such a revolution is the French revolution that happened in 1830 and 1848. Political revolutions entail mass mobilization and more fundamental economic, cultural and social change (Briton, 12). The final types of revolutions involve the sweeping but slow changes of the entire society that take several generations to be embraced globally or in a certain nation. One example is the religion which is spread out from one generation to another in the changing of people’s beliefs. The other example that has being evident globally is the industrial revolution which has been gradually embraced by nations to develop various machines. Industrial Revolution in Britain was really propelled by the development of a steam engine that would enable the pumping of water from coal mines thus enabling deeper mining in the ground (Downing, 7). The one cause that leads to rising of revolution in any nation is when democracy is undermined and collapsed by the reigning regime. Undermining of democracy could be a result of the authoritarian leadership. This leadership does not give the citizens the freedom to express their grievances forward to be met by the people in power. This contends that for a country to expand economically and reduce the rise of revolution there has to be a strong, independent middle class that entails rational legal

Business Law - Case Study Essay Example for Free

Business Law Case Study Essay A.Known Facts John wanted to extend his house and built an office from there. He approached Sue after locating an advertisement from the Yellow Pages. As Sue’s price did not seem reasonable, John then approached Drawit Pty Ltd, which charged a hundred dollar less. John paid a deposit. Later, John went to Franks Hardware and Timber Yard. He made known to Frank, the sole proprietor, the purpose and requirement of the materials and placed an order. John signed a standard form contract and paid a deposit. Two months later, problems arose which caused John to delay his business. John incurred financial losses. B.IDENTIFYING THE ISSUES 1.0CONTRACT BETWEEN JOHN FRANK. It is obvious that there is a contract for the sales of goods between Frank and John. Therefore, terms implied by statute into the sales of goods will only be relevant here. 1.1Is it a consumer or non-consumer contract? Here, we need to consider the definitions of consumer both under Trade Practices Act (TPA) and Goods Act Part IV (GA-IV). As the total price of the goods is $20,500, it is under the TPA s4B(1) (a)(i) prescribed limit. Having satisfied this, we need to consider s4B(1) (a)(iii). There is no evidence showing that John had acquired the goods for the purpose of re-supply or transform them. It might be a consumer contract under TPA. $20,500 exceeds the threshold amount under GA-IV s85(1) (a). John then needs to satisfy s85(1) (b). His materials were of a kind that is ordinarily  acquired for personal consumption. Moreover, s85(1) (c) and (d) did not apply. Therefore, it might also be a consumer contract within s85 of the GA. A consumer contract subjects either to TPA or GA-IV means that Goods Act Part I do not apply. 1.2 TPA or GA-IV? A seller must be a corporation to be under the TPA. As Frank Hardware is a sole proprietor, it therefore is not subjected to the TPA. It then must fall under GA-IV. GA-IV applies to all consumer contracts for the sale of goods that take place in the course of business, irrespective of whether the seller is a corporation, a partnership or a sole trader. 1.3What are the Implied terms that are breached? (i)GA-IV s(90) Fitness for particular purposes John had a contract with Frank for the supply of materials and the sale took place in the course of a business. John made known the purpose for which the goods were required and had relied on his skill and judgement in choosing the appropriate materials. It was also reasonable for John to rely on Frank. Therefore, there is an implied condition that the materials supplied be fit for that particular purpose. However, the materials were not of the purpose for which it was supplied. This implied term had been breached. (ii)GA-IV s(89) Merchantable quality As the materials were sold in the course of a business, there is an implied condition that the materials be fit for their normal purpose(s) having regarded the price. When the materials were delivered, the pine is not limed and the oregon beams  have unsightly knots. John was not aware of the defect before the sale and if John had inspected the materials before sale it would not have revealed the defect. This is because John did not know that he actually had to lime the pine himself and the knots on the beams might not be easily seen. Therefore, there is evidence that this implied term had been breached. 1.4What is the effect of exclusion clause? As the materials bought by John is a kind normally acquired for personal consumption, Frank cannot rely on the exclusion clause to exclude his liability. This is evidenced by GA-IV s95(1). 1.5What are the remedies available? John can terminate the contract and sue for damages. This means that he may return the materials and receive a refund. However, the goods must be returned as provided by s99 that as long as the defect becomes apparent within a reasonable time after delivery, the goods may be returned within reasonable time after discovering the defect. John may also receive compensation for losses caused by the breach of implied terms. 2.0CONTRACT BETWEEN JOHN SUE. 2.1Offer or Invitation to Treat? First, we need to distinguish offer from invitation to treat. An invitation to treat is an invitation to others to make an offer. Generally, an advertisement amounts to an invitation to treat. This is held in Partridge V Crittenden [1968] 2 All ER 421, where Sue will be inviting John to make an offer. However, there is an exception. An advertisement can also be an offer. This can be illustrated in Carlill V Carbolic Smoke Ball Co [1893] 1 QB 256 in which Sue might probably argue that it was an offer. This being the case, Sue is the offeror will stressed that the offer was assumed to be accepted  by John upon saying â€Å" I think that’ll be okay †. An offer, once accepted, cannot be revoked. Therefore there will be a binding contract. Assuming that it is an offer, it can either be a counter offer or a mere request for more information. 2.2Counter Offer or Mere Request for More Information? An offer will be rejected if there is a counter offer. A counter offer tampers with the original condition of the offer, it rejects the original offer and can no longer be accepted at later date. Looking at the words used in John’s reply â€Å" I hadn’t expect it to be so high †, it is possible that this was either an acceptance with a request for more information, or a counter-offer. If the court found the facts here sufficiently similar to those in Stevenson Jacques V McLean (1880) 5 QBD 346, it could hold that the words were a mere request for information. This being the case, the offer remains open and can be accepted. Another alternative is that the court might hold that John’s reply amounts to a counter offer as it seems to add new terms to the offer. This would be similar to Hyde V Wrench (1840) 3 Beav 334, in which the counter offer involved a reduction in price. As in that case, the counter offer made by John had the effect of destroying the original offer made by Sue. Sue is then free to accept or reject this counter offer. Sue, by quoting the price of $1500, clearly shows that she had accepted the counter offer and made a new offer. It is now up to John, the offeree, to accept or reject the offer. 2.3Acceptance or Rejection? Sue could rely on the fact that the mode of communication is instantaneous, i.e. a telephone conversation. She will argue that John’s response over the phone is assumed to be an acceptance to the new offer. This forms a contract in which she can argue that it had been breached. REMEDIES FOR SUE (Damages) However, John can argue that there was no contract because his response failed to satisfy the rule that an acceptance must be absolute and unqualified. In fact, it’s a statement of his opinion of what he thought and therefore he reserved the right to change his mind. An offer, which had not been accepted, does not form a contract. Therefore there is no breach of contract and that he did not have to pay the pro rata amount requested by Sue. REMEDIES FOR JOHN (Do not have to pay) Having considered both sides of the argument, it is more likely that there is a contract between John and Sue. And that it is a breach in which John had to pay. 3.0 CONTRACT BETWEEN JOHN AND DRAWIT. It is clear that there is a service contract in which Drawit is to provide a plan for John. Due to the fact that terms implied under Statute only apply to consumer contracts, we need to determine if one exists in order to enforce the implied terms. 3.1Is it a consumer contract? To illustrate whether it is a consumer contract, we need to compare the definition of consumer under Trade Practices Act (TPA) and Goods Act Part IV (GA-IV). s4B(b) (i) of the TPA required that price of the service be less that $40,000. If it exceeds that amount, it must be a kind ordinary acquired for personal use. s85(a) of the GA-IV restricted that amount to be under $20,000. Similarly, if exceeds that prescribed amount, it must be for  personal consumption. Given the service price of $1,400 and that John had acquired it for personal use, it is obvious that it falls under both the TPA and GA-IV. Therefore we know that there is a consumer contract. We then need to identify which of the Acts it falls into. 3.2TPA or GA-IV? TPA probably applies because there is evidence that Drawit is a corporation. This can be recognised by the ‘Pty Ltd’ in Drawits’s company name. Having recognised that it subjects to TPA, it is obvious that GA-IV does not apply. 3.3What are the Implied Warranties that have been breached? As Drawit provide the similar service as Sue, we assumed that John had also made know the purpose for which the plan was required and that relied on the seller’s skills to perform the service. (i)TPA s74(1) Due and skills Drawit supplied the services in the course of a business, so there is an implied warranty that the service will be rendered with due care and skill. The material supplied (plan) in connection with the service must also be fit for the purpose for which they are supplied. It is obvious that Drawit had breached this implied warranty because the material supplied was not fit for the purpose, i.e. it did not meet the Council’s standards. (ii)TPA s74(2) Fitness for particular purposes Applying our assumption that John had made known to Drawit his requirements for which the services were required and that Drawit had supplied the service in the course of a business. There is an implied warranty that the  service and the materials supplied in connection of the service will be reasonably fit for that purpose and that it is reasonable for John in that circumstances to rely on Drawit’s skill. The plan did not meet the Council’s requirement. This shows that it did not fit the purpose for which the services were required. Therefore there is a breach of this warranty. 3.4Can the implied terms be excluded? As the service provided is of a type ordinarily acquired for personal domestic or household use. Under s68 of TPA, Drawit cannot exclude or limit the implied warranties. 3.5What are the remedies that are available? John can terminate the contract and sue for damages. This means that he could get a refund for the services and also receive compensation for the losses caused by the breached of the implied terms.

Stakeholder Analysis of Wal-Mart

Stakeholder Analysis of Wal-Mart A long-range strategic planning is so important to an organization because if you fail to plan, change in your business can be tough to handle and ultimately you are planning to fail. Strategic planning is one of the only ways a top management team can plan for economic, demographic, competitive, technological, and regulatory changes that affect the way your organization operates. The firm must engage in strategic planning that clearly defines objectives and assesses both the internal and external situation to formulate strategy, implement the strategy, evaluate the progress, and make adjustments as necessary to stay on track. TASK 1.A: IDENTIFY AN ORGANIZATION OF YOUR CHOICE WHICH YOU WILL DISCUSS AS AN EXAMPLE IN THIS ASSIGNMENT AND GIVE YOUR REASONS FOR CHOOSING THIS ORGANIZATION. Wal-Mart will be taken as the organization of my choice to discuss through the various aspects of this assignment. Wal-Mart is the leader in retailing industry with fiscal revenue of $244.52 billion in 2003 making it the worlds largest corporation. Mike reports that Wal-Mart as of 2002 had 1,283,000 employees growing at 11.2%. The above data explains that strategy of Wal-Mart is extraordinary which manages and operates over 4150 retail facilities globally. The key components of Wal-Mart (The Value Chain), which offers cheap prices than its competitors includes firm infrastructure like frugal culture, no regional offices and pleasant environment to work. Managements take lots of visits and it is learnt there are no rehearsals before any meeting which is usually scheduled on every Saturday. In any organization, human resource is the key to development and Wal-Mart efficiently manages its sources. Wal-Mart terms its employees as associates. Manager compensation is linked to the profit of store operated by him, within promotions, compensation offered to associates depending on companys profits and al so offered some incentives on their performances. The workforce at Wal-Mart is not unionized as the company takes all the measures of their benefits and provides them training on related issues. Technology plays a vital role in development of the organization and Wal-Mart is well equipped with technological innovations like POS, store performance tracking, real time market research, satellite system and UPC. Wal-Mart procurement measures like hard-nosed negotiations, partnerships with some vendors, centralized buying, planning packets, etc. helps at large the cause of providing the goods and services on cheap prices. The other factors that increase the margin of profit for Wal-Mart are inbound logistics with frequent replenishment, automated DCs cross docking, pick to flight, EDI, hub and spoke system. Wal-Mart strategy of operation is innovative with big stores in small towns with monopoly in the market at low rental costs, local prices, concentric expansion, merchandising in brand name, private labels, little space for inventory, store within store, etc. In relation to marketing and sales, merchandising is tailored from locals, spent less on advertising and the prices are fixed low and it depends on the store manager to fix the latitude of pricing. All the above factors combined together form the key components of Wal-Mart which not only increase the margin of profits through bulk sales but also boost the confidence of the customers with services like point of sale information system and everyday low prices. TASK 1.B: WHO ARE THE MAJOR STAKEHOLDERS OF YOUR ORGANIZATION AND WHAT CONSIDERATIONS SHOULD BE MADE TO ENSURE THEIR (STAKEHOLDER) PARTICIPATION IN DEVELOPING MANAGEMENT STRATEGY Stakeholder Analysis of Wal-Mart In determining the public affairs strategy of Wal-Mart, there are many groups and individuals who have a stake in what Wal-Mart does. These stakeholders can be divided into two groups: the market and non-market stakeholders. The market stakeholders are those groups and individuals who have an economic stake in what the company does. The non-market stakeholders are those groups and individuals who have a non-economic stake or political stake in what course the company takes. Market Stakeholders 1. The Stockholders The first group that has an economic stake in what Wal-Mart does is its shareholders. These are the people who actually own shares of Wal-Mart and therefore are interesting in seeing a return on their investment. They hope the value of their stock will rise and they will see dividends. According to the 2001 Annual Report, last year, Wal-Mart paid out $.24 per share in dividends (Annual Report 2001, 45). 2. The Wal-Mart Executives The top executives of Wal-Mart also have an economic stake in the company just as the regular stockholders do. Many of the top executives received stock options are part of their salary. Obviously, they want their stock value to rise because a large part of their compensation comes from how well the Wal-Mart stock is doing. 3. The Employees While some of the employees may have stock in the company, many of them have an economic stake in the company just because their job is their primary source of income. They want Wal-Mart to do well because then they will keep their job and their source of income. Their financial compensation from Wal-Mart sustains them. Wal-Mart employs more than 885,000 people nationwide (Reid, 1) 4. The Communities where Wal-Mart is located Each of the communities that have a Wal-Mart located in it has a stake in how well the company is doing. Many of these communities rely on Wal-Mart not only for jobs but also for a place to purchase many of their day to day necessities are a low price. Without Wal-Mart in these communities, there would be people without jobs and families paying higher prices for the goods that they need. 5. Consumers Consumers have a stake in how well Wal-Mart is doing. According to the 2001 Annual Report, Wal-Mart is the countrys largest grocery retailer (Annual Report 2001, 7) and therefore many people rely on Wal-Mart for their groceries. 6. Non-profit Organizations Many non-profit organizations have an economic or market stake in how well Wal-Mart is doing. The Wal-Mart foundation provides many non-profit organizations with funding and if the company is not doing well, the Foundation is not going to do as well either. According the Wal-Mart Good Works Foundation, 97 percent of their funding goes to non-profit organizations in the communities where their stores are located. The Wal-Mart Good Works Foundation provides funding to programs that deal with community, education, environment and children. Therefore, if a Wal-Mart is located in a certain community, the non-profit organizations can look to the Wal-Mart foundation as a possible source of funding. (www.walmartfoundation.org) 7. Other Retailers Other retailers have a stake in how well Wal-Mart is doing and how much they are expanding. If a Wal-Mart moves into a community, changes are the other retailers in that community, especially if they are privately owned are going to lose money and may even be forced to close down. Because Wal-Mart is the largest retailer in the United States and number 1 on the Fortune 500 list, they have the ability to lower their prices and therefore can force other retailers out of business because they cannot match Wal-Marts low prices. 8. Online Retailers Like other retailers in communities where there is a Wal-Mart, online retailers also have a stake in how well Wal-Mart is doing. Wal-Mart totally revamped their website in 2000 in order to make it a more profitable part of their retail empire. Wal-Mart, unlike many other e-tailers closed down their website in September 2000 in order to revamp their site. While Wal-Marts online sales only represent a small portion of their overall sales, the website is a low cost way for Wal-Mart to deliver goods to consumer who lives in communities without Wal-Mart stores. (Business Week 11/6/00,2). 9. Gasoline Retailers In 1996, Wal-Mart made its first partnership with the gasoline industry. Today, Wal-Mart has contracts with companies such as Murphy Oil USA, Sunoco, and Tesoro Petroleum. Wal-Mart contracts with these companies and leases real estate on their lots in order for the company to offer gasoline at Wal-Mart stores. Both the oil companies who have contracts with Wal-Mart and local gas stations have a stake in this. The local gas stations often cannot compete with Wal-Mart in either price or convenience. Over the next year, the oil companies that contract with Wal-Mart plan to expand to offer cheap gasoline at more Wal-Mart locations. For example, Murphy plans to expand to 600 Wal-Mart sites by 2003 and the other gas retailers have similar plans. (Reid, 5) Non-Market Stakeholders 1. Labor Unions Labor unions have a political stake in Wal-Mart has a strict policy about not having their workers unionized. Wal-Mart takes the position that they are better able to take care of their employees and provide them with the best benefits and compensation plans. Wal-Mart does not want interference from unions. Recently, Wal-Mart was charged by the National Labor Relations Board with violating federal law by keeping employees from holding elections and joining the United Food and Commercial Workers International Union. (NY Times, C2) 2. International Retail Stores One of Wal-Marts key policy issues has been to move into the international retail market and open stores in other countries. Last year, Wal-Marts International Divisions sales increased by 41 percent (Troy, 47). Currently, Wal-Mart has stores in Chine, Korea, the United Kingdom, Brazil, Argentina, Germany, Canada and Mexico (Thau, 9). Wal-Mart must work closely with Public Relations firms in those countries in order to make sure there is no backlash against them moving into other countries. They must also be careful to follow the laws of each of those countries when they open new stores. Wal-Mart has been careful in moving into the international markets. They have acquired companies already well established in those countries and have made sure that 90 percent of their international products are locally sourced (Thau, 9). 3. Politicians Politicians have a non-market stake in Wal-Mart for several reasons. First of all, politicians may or may not want Wal-Mart opening in their district. On one hand, it may be good for the community. However, if it is a district with a large union presence, the politician may not want Wal-Mart is that area. Also, politicians may rely on Wal-Mart for campaign funding. Last cycle, Wal-Marts political action committee, Wal-Mart Stores Inc PAC for Responsible Government contributed $752,500 to various committees and candidates during the 2001 cycle. TASK 1.C: WHAT ARE THE KEY CRITERIA THAT SHOULD BE CONSIDERED WHEN REVIEWING MANAGEMENT STRATEGY OPTIONS? Key Points to make Planning Effective 1. The Success of planning depends upon the effectiveness with which the forecast has been made. If the forecast is accurate, there is every possibility that the plan will be success. 2. Flexibility must be introduced in the plan whenever necessary so that the employees can work with sustained interest and effort. The management shall not use pressure tactics and force employees to work for the sake of attaining the daily or weekly targets. 3. All the members concerned with the organization must be involved in the task of preparing the plan. The viewpoints of the employees, who are actually going to perform the tasks, must be secured and their ideas may be incorporated in the plans, if found suitable. 4. The plan should not be prepared to focus on the financial goals of the business alone. It must have something for the employees. There must be some provision in the plan to reward efficient workers. Some inducement is necessary in the plan to motivate the employees to work harder. 5. The plan must be realistic. It should take into account the capabilities of both the managers and the employees. Both shall not be required to work beyond their capacity. In other words, the plan must not expect too much out of every person. 6. The plan must be communicated effectively to all the subordinate staff. Their consent may also be obtained. The successful implementation of the plan depends on the extent to which subordinates participate willingly in the performance of the tasks. 7. A co-ordinated effort on the effort on the part of every department is required for the success of the plan. To achieve this, the departments concerned shall work with proper understanding. Additional steps that can be followed to avoid obstacles in planning. (There should be no ambiguity in the objectives that are laid out. They must be clear and achievable. Use of information should be put in place. Management Information System can be used. Managers should sport a dynamic outlook and they should have that mindset of moving towards achieving the objectives All plans designed can have some amount of flexibility built into it. All resourcing required for the plan should be done upfront leaving on surprises at the end. The importance of having a Cost-Benefit analysis cannot be ruled out. This must be done. TASK 1.D: DESCRIBE A SITUATION WITH YOUR CHOSEN ORGANIZATION WHERE A POTENTIAL STRATEGY MIGHT BE DEVELOPED TO RESOLVE AN ISSUE. PRODUCE AN APPROPRIATE STRATEGY AND INDICATE ITS RESOURCE REQUIREMENTS. A strategic goal of Wal-Mart is to expand. It has done so successfully. Looking at the facts and figures clearly shows the corporations dominance and power. Currently the corporation employs over 1.3 million employees, one million in the US alone. The company owns over 4000 stores worldwide. Over 1,200 units (stores) are in operation internationally. Domestically, Wal-Mart is the largest US retailer, employing around 1 million people. It has over 3,000 stores and outlets, and 77 distribution centers. The company serves more than 100 million customers weekly in all 50 states, Puerto Rico, and several nations around the world. (www.walmart.com, Fact Sheet Wal-Mart at a Glance, 2002). Internationally, the retailer operates in Mexico, Canada, Argentina, Brazil, China, Korea, Germany, and the United Kingdom. Its expansion strategy internationally has been aggressive and powerful. The latest expansion strategy is for the company to gain entry into a nation by corporate takeover of a national retailer. Once the company is bought, Wal-Mart converts the stores into Wal-Mart stores. Three countries, all with no previous Wal-Mart stores, became part of the corporations international presence when domestic retail chains were overtaken. In 1994, Wal-Mart bought 122 Woolco stores in Canada; today there are 196 units in Canada. In 1998 Wal-Mart bought the Wertkauf store with 21 units, now there are 94 Wal-Marts in Germany. In 1999, Wal-Mart acquired the ASDA chain with 229 units in the UK. Today, the UK has 252 Wal-Mart stores. (www.walmart.com, Fact Sheet on International Operations, 2002) This particular strategy, of corporate takeover, puts the company at an advantage when it enters into a new market. In one stroke, a large competitor is eliminated, and at once, Wal-Mart has real estate and employees, and a massive presence in its targeted location. This is an effective use of the companys size and wealth, as few if any competitors are able to do this effectively. The company builds up brand familiarity, while retaining the old familiar outlets. Gradually, as the local Wal-Mart stores begin to make money, and local management assess their competition environment, the company begins to redesign the acquired stores to look like Wal-Marts, it then begins to build new and larger stores in that new market. Wal-Mart is now the largest retailer in Canada and the UK. TASK 2: DEVELOP VISION, MISSION, OBJECTIVES AND MEASURES TASK 2.A: FOR YOUR CHOSEN ORGANIZATION, LIST THE DOWN ITS ETHICAL, CULTURAL, ENVIRONMENTAL, SOCIAL AND BUSINESS OBJECTIVES. HOW ARE THESE INFLUENCED BY THE CURRENT BUSINESS AND ECONOMIC CLIMATE Visioning Creating shared understanding of future possibilities A strategic vision is usually thought to be solely future oriented. A vision provides an organization a forward looking, idealized image of itself. Moves outside the usual assumptions. Concentrates on the end goal, not the means to reach the goal. Followers gain ownership by developing the means (action plan). An alternate view from the field of organizational learning expands this to shared vision, which also includes a present component. Vision is not a destination, but an intangible structure that surrounds us and guides our daily activities. From this perspective, a shared vision is a form of self-identity. This definition of vision is a collective belief in what the organization can become. In this way it is similar to a truly desired wish for the future. The difference, however, is in how we mold ourselves to adapt to the environment without expecting to be able to change the environment itself. Yes, there is an implicit assumption about the future. However, if the vision is sufficiently broad it will suffice for providing a framework for current decisions. Granted, all decisions are made in the present. Yet, to work toward something grander than the present employs some probability of future outcomes upon which to make decisions, all other things being equal. Regarding feedback loops for control, such feedback can be employed for both corrective action and vision revision (interesting combination of words). If the feedback indicates a problem in the implementation and nothing amiss in the expected vision then the strategy and/or tactics can be altered to get back on track toward the vision. And if there is an indication that the vision is no longer realistic there is no problem with a shift in vision to a more workable vision. Normal planning cycles allow for such a step on an annual basis, which is probably too long for planning within a dynamic environment. But this gets back to the dynamics of the planning process itself. This approach to using feedback is similar to the use of a tracking ratio to serve as a warning system for a forecast that is no longer adequate to the current reality. Implications What is unique about the organizations self-concept of itself? Something that would be missed if the organization were not to fulfill this vision. What issues might arise among different stakeholders as this vision is realized? Are organizational practices aligned with the vision? Are desired actions reinforced by performance metrics? Putting an organization mission vision in place requires working at all levels of the organization. Oftentimes, the effort is only made at the top of the organization with the expectation that employee commitment will follow. Instead, limited compliance is accomplished, at best. It is recommended that a specific change program be put in place to develop a shared vision and common understanding of the groups mission. Mission The mission is the ultimate purpose for why the organization exists. Essential components of a good mission statement include: Brief and easily understood by everyone. What goods and services (beyond the basics) For Whom market segmentation (geographic, sociological, financial, ethnically) How market strategy, distribution strategy. Present and future possibilities. Why basic reason the organization exists. Distinctive competency. Driving Forces. Driving Forces Products and/or services offered Market served Technology Low-cost capability Operations capability Method of distribution sale Use of resources Profit (return on resources) à ¢Ã¢â€š ¬Ã‚ ¢ TASK 2.B: DESCRIBE THE ROLES OF VISION AND MISSION STATEMENT OF YOUR CHOSEN ORGANIZATION The corporate mission can be stated as follows: As Wal-Mart continues to grow into new areas and new mediums, our success will always be attributed to our culture. Whether you walk into a Wal-Mart store in your hometown or one across the country while youre on vacation, you can always be assured youre getting low prices and that genuine customer service youve come to expect from us. Youll feel at home in any department of any storethats our culture. The company has three Basic Beliefs or core philosophies Sam Walton built the company on. Those beliefs are: (1) Respect for the Individual, (2) Service to Our Customers, and (3) to Strive for Excellence. Respecting the individual is a call for treating their employees well and pushing them to excel in what they do. The commitment to their customers is a goal whereby the stores respect a pricing philosophy to always sell items as low as they can while providing excellent customer service. The third belief is to strive for excellence, that is to expand the store, innovate, reach further in to new markets and to grow. (H. Lee Scott, 2002, www.walmart.com) Other beliefs include, exceeding customer expectations with aggressive hospitality such as using door greeters. The store also features patriotic display and themes in its US stores. Another goal for the company is to support efforts in the local community via charitable contributions. Wal-Mart identifies several affiliations with charities such as the United Way and the Childrens Miracle Network (www.walmartfoundation.org). The Sundown Rule is a corporate directive whereby all Wal-Mart employees, be they store associates, management, or corporate staff, must reasonably answer a customers or supplier request or question within 24 hours. The Ten Foot Rule states that store employees must greet, smile, and attend to a customer in a store when within 10 feet of them. Its a type of aggressive hospitality policy. Wal-Mart also compels its staff to engage in morning cheers where they recite company sayings. A final, yet important rule, which is a strong part of the corporate culture is Sam Waltons Pricing Philosophy which underlines the company strategy of selling items for less then their competitors, always. (www.wal-mart.com, corporate culture). TASK 2.C: INDICATE HOW IT IS POSSIBLE FOR AN ORGANIZATION TO EVALUATE THE ACHIEVEMENT OF ITS OBJECTIVES Implementing: Every company will have its own strategy but it is the operation which puts in to practice. You cannot, after all, touch a strategy; you cannot even see it ; all you can see is how the operation behaves in practice. The implication of this role for the operations function is very significant. Support: It must develop its resources to provide the capabilities which are needed to allow the organization to achieve its goals. Example: If a manufacturer of personal computers has decided to compete by being the first in the market with every available new product innovation, then its operations function needs to be capable of copying with the changes which constant innovation will bring. It must develop or purchase processes which are flexible, enough to manufacture novel parts and products. Driving: The third role of the operations part of the business is to drive strategy by giving it a long-term competitive edge. The both short term and long term success can come directly from the operations functions. An operations function which is providing both long and short term advantage is driving business strategy by being the ultimate custodian of competiveness. Effective operations management: Operation plays these roles within the organization can be judged by considering the organizational aims or aspirations function. The model traces the progression of the operations function from which it is largely negative role of stage 1 operations to it becoming the central element of competitive strategy in excellent stage 4 operations. Stage 1: internal neutrality: This is the poorest level of contribution by the operations function. The other functions regard it as holding them back from competing effectively. Even good organizations can be let down by their operations function and the resulting publicity can be damaging. Stage 2: External neutrality: The first of breaking out of stage 1 is for the operations function to begin comparing itself with similar companies or organizations in the outside market. By taking the best ideas and norms of performance from the rest of its industry, it is trying to be externally neutral. Stage 3: Inernally supportive: These operations have probably reached the first division in their market. They may not be better than their competitors on every aspect of operations performance but they are broadly up with the best. Stage 4:externally supportive: The third stage is taken to be as the limit of the operations functions contribution. TASK 3: PLAN FOR IMPLEMENTATION OF THE STRATEGY TASK 3.A: DISCUSS HOW A TIMETABLE FOR STRATEGY IMPLEMENTATION CAN BE DETERMINED. INCLUDE A SAMPLE TIMETABLE, TO INCLUDE KEY MILESTONES AND THEIR TIMINGS As an example, let us take the strategic planning and implementation of a university learning programs. Following is a sample table that gives detailed timeline in achieving a specific strategic goal that have been set. [pic] TASK 3.B: HOW MIGHT THE DISSEMINATION PROCESS BE USED TO HELP AN ORGANIZATION GAIN COMMITMENT TO ITS STRATEGY AND THE IMPLEMENTATION OF THIS Ten Elements of an Effective Dissemination Plan After you have developed your dissemination policy statements, you are ready to turn your attention to more specific dissemination planning. Remember that your dissemination planning should start at the beginning of your research activities, not at the end. While some details of the dissemination effort will be suggested in your original proposal and refined as you progress through your research, your dissemination plan goals and objectives should be clarified at the beginning of your research project in consultation with your NIDRR project officer. This approach will allow you to meet your dissemination challenge in a timely manner. 1. Goals: Determine and document the goals of your dissemination effort for your proposed project. 2. Objectives: Associate each goal with one or more objectives that clarifies what you are trying to accomplish through your dissemination activities. 3. Users: Describe the scope and characteristics of the potential users that your dissemination activities are designed to reach for each of your objectives. 4. Content: Identify, at least, the basic elements of the projected content you have to disseminate to each of the potential user groups identified. 5. Source(s): Identify the primary source or sources that each potential user group is already tied into or most respects as an information source. Consider ways to partner with these sources in your dissemination efforts. 6. Medium: Describe the medium or media through which the content of your message can best be best delivered to your potential users and describe the capabilities and resources that will be required of potential users to access the content for each medium to be used. 7. Success: Describe how you will know if your dissemination activities have been successful. If data is to be gathered, describe how, when, and who will gather it. 8. Access: Describe how you will promote access to your information and how you will archive information that may be requested at a later date. Consider that most people will use your project-related information when they perceive a need for it not necessarily when you have completed your research project. 9. Availability: Identify strategies for promoting awareness of the availability of your research-based information and the availability of alternate available formats. 10. Barriers: Identify potential barriers that may interfere with the targeted users access or utilization of your information and develop actions to reduce these barriers. The dissemination and implementation of the strategic plan is a great time to actualize organizational values and improve internal processes. Once a strategic plan is established, the organization must keep a close watch on its progress or the plan and the goals will collect dust. It is usually not enough to meet a few times a year unless there are very few goals or the goals are basically to maintain the status quo. In general, it is best that those responsible plan a regular meeting schedule in order to maintain momentum and discuss issues as they arise. The processes around monitoring the implementation of the plan, disseminating the plan, developing the Action Plan, and so forth should be designed with the organizations values as guiding principles. If possible, they should also incorporate solutions to any other organizational culture issues that were discussed during the strategic planning process. If solutions were not generated, the implementation processes should at least be designed with these issues in mind, with the intention of finding solutions at a point in the near future. A good strategic plan must involve an examination of your organizations values and internal process challenges (every organization has them). Often a strategic plan will expose problems that were hidden. This is a good thing. But only if you take control of them. The Action Plan must include steps to address mismatched organizational values and culture, starting with the implementation process. TASK 3.C: DESCRIBE THE IMPORTANCE OF MONITORING AND EVALUATION OF A NEW STRATEGY. OUTLINE HOW THIS MIGHT BE ACHIEVED Many strategic plans end up collecting dust on a shelf. Monitoring and evaluating the planning activities and status of implementation of the plan is for many organizations as important as identifying strategic issues and goals. One advantage of monitoring and evaluation is to ensure that the organization is following the direction established during strategic planning phase. Note that plans are guidelines. They arent rules. Its alright to deviate from a plan. But planners should be aware of the reason for the deviations and update the plan to reflect the new direction. Responsibilities for Monitoring and Evaluation The strategic plan document should specify who is responsible for the overall implementation of the plan, and also who is responsible for achieving each goal and objective. The document should also specify who is responsible to monitor the implementation of the plan and made decisions based on the results. For example, the board might expect the chief executive to regularly report to the full board about the status of implementation, including progress toward each of the overall strategic goals. In turn, the chief executive might expect regular status reports from middle managers regarding the status toward their achieving the goals and objectives assigned to them. Key Questions While Monitoring and Evaluating Status of Implementation of the Plan 1. Are goals and objectives being achieved or not? If they are, then acknowledge, reward and communicate the progress. If not, then consider the following questions. 2. Will the goals be achieved according to the timelines specified in the plan? If not, then why? 3. Should the deadlines for completion be changed (be careful about making these changes know why efforts are behind schedule before times are changed)? 4. Do personnel have adequate res

A Comparison of Women in Amy Tans The Joy Luck Club and Kitchen Gods

Strong Women in The Joy Luck Club and The Kitchen God's Wife  Ã‚        Ã‚   One of the common themes in both The Joy Luck Club and The Kitchen God's Wife is strong women. All the women in both generations in each book gain strength through different experiences. These experiences range from a war-ravaged China to the modern day stresses of womanhood. Though different experiences have shaped each woman, they are all tied together by the common thread of strength.    The Joy Luck Club portrays strong women. The examples that come across most strikingly to the reader are the women who lived in traditional China. An-Mei Hsu gained her strong will from her mother's weak spirit. In her story, titled "Magpies," An-Mei's mother is forced into the life of a concubine. Her mother is tricked by Wu Tsing, a rich merchant, and is brutally raped. Second Wife's trickery lures An-Mei's mother into a life in which she is forced to bear a son that she cannot claim as her own. As a last resort, An-Mei's mother commits suicide two days before the Chinese New Year, in order to ensure that her daughter can someday rise above the position of a concubine's daughter. An-Mei's mother, as the poison travels through her body, whispers, "I would rather kill my own weak spirit so I can give you a stronger one."    Another example of a strong female character is seen in Suyuan Woo. During her escape from China, she is forced to abandon her twin daughters on the roadside. She leaves her daughters with the hope of someday returning to them. As the women of the Joy Luck Club tell June, "She walked down the road, stumbling and crying, thinking only of this one last hope, that her daughters would be found by a kindhearted person who would care for ... ... At this moment, Winnie's life takes a turn for the better, for she now knows that she can endure anything that life has to offer.    According to critic Susan Dooley, "Amy Tan's brilliant novels flit in and out of many realities but all of them contain mothers and daughters....Each story is a fascinating vignette, and together they weave the reader through a world where the Moon Lady can grant any wish, where a child, promised in marriage at two and delivered at twelve, can, with cunning, free herself; where a rich man's concubine secures her daughter's future by killing herself and where a woman can live on, knowing she has lost her entire life."    Works Cited and Consulted: Tan, Amy. The Kitchen God's Wife. New York, Ballantine Books, 1991. Tan, Amy. The Joy Luck Club. Vintage Contemporaries. New York: A Division of Random House, Inc. 1993. A Comparison of Women in Amy Tan's The Joy Luck Club and Kitchen God's Strong Women in The Joy Luck Club and The Kitchen God's Wife  Ã‚        Ã‚   One of the common themes in both The Joy Luck Club and The Kitchen God's Wife is strong women. All the women in both generations in each book gain strength through different experiences. These experiences range from a war-ravaged China to the modern day stresses of womanhood. Though different experiences have shaped each woman, they are all tied together by the common thread of strength.    The Joy Luck Club portrays strong women. The examples that come across most strikingly to the reader are the women who lived in traditional China. An-Mei Hsu gained her strong will from her mother's weak spirit. In her story, titled "Magpies," An-Mei's mother is forced into the life of a concubine. Her mother is tricked by Wu Tsing, a rich merchant, and is brutally raped. Second Wife's trickery lures An-Mei's mother into a life in which she is forced to bear a son that she cannot claim as her own. As a last resort, An-Mei's mother commits suicide two days before the Chinese New Year, in order to ensure that her daughter can someday rise above the position of a concubine's daughter. An-Mei's mother, as the poison travels through her body, whispers, "I would rather kill my own weak spirit so I can give you a stronger one."    Another example of a strong female character is seen in Suyuan Woo. During her escape from China, she is forced to abandon her twin daughters on the roadside. She leaves her daughters with the hope of someday returning to them. As the women of the Joy Luck Club tell June, "She walked down the road, stumbling and crying, thinking only of this one last hope, that her daughters would be found by a kindhearted person who would care for ... ... At this moment, Winnie's life takes a turn for the better, for she now knows that she can endure anything that life has to offer.    According to critic Susan Dooley, "Amy Tan's brilliant novels flit in and out of many realities but all of them contain mothers and daughters....Each story is a fascinating vignette, and together they weave the reader through a world where the Moon Lady can grant any wish, where a child, promised in marriage at two and delivered at twelve, can, with cunning, free herself; where a rich man's concubine secures her daughter's future by killing herself and where a woman can live on, knowing she has lost her entire life."    Works Cited and Consulted: Tan, Amy. The Kitchen God's Wife. New York, Ballantine Books, 1991. Tan, Amy. The Joy Luck Club. Vintage Contemporaries. New York: A Division of Random House, Inc. 1993.

Event Management Essay

Event management is a part of management studies that aims to apply science of project management to the organization of functions, festivals and special occasions with the aim of successfully conducting the entire event to achieve its purpose. The corporate and business world has realized the significance of a smoothly conducted business in their growth and expansion plan and therefore event management has emerged as an independent market and entrepreneurship area. Today concept and knowledge of event management is applied from events like Olympic, Asian games to corporate parties and even organizing a coffee evening with just 10 guests. The whole idea is infusing professionalism in the entire business of handling the events. The international corporate world has understood the significance of event management as a major public relation exercise that is required for it to seamlessly conduct its operations. This issue takes important form especially when multinational companies are increasingly diversifying their operations. Often they are required to hold promotional events, fete, programs and cultural-social evening in places where they have no prior exposure to the aesthetical tastes and preferences of the local population. Under such circumstances, a flaw or incorrect approach towards presentation and promotional activity can backfire, and bring discredit to the company and its further plans in the popular perception. Under these circumstances, a local event management company with understanding of local customs and tastes can help the multinational corporate giants by successfully organizing the event. Event management offers corporate heads with readymade set of solutions for a wide variety of situations, whether it is conducting franchisee meeting,   a Q&A round with employees, a corporate presentation, a sales and marketing presentation, product launching, satellite video meeting, trade shows and parties, sport shows, and almost every conceivable function involving logistic, management planning and effective and timely mobilization of resources . With integration and convergence of various streams of media, event management also now comprises over media management, press release and public address, thus helping to provide a completely polished front to the corporate sector. As it can be understood, event management requires a sound knowledge by the organizing company on the purpose of the event, target audience, securing sponsorship and exhibiting complete integrity in securing objectives of the event. As a lot has to be achieved in a limited time frame, every event runs on a risk that a slight mistake can result in a flop show, causing embarrassment to the sponsors and the promoters.