Why Levitt’s Analysis is Awry Essays

Why Levitt’s Analysis is Awry Essays Why Levitt’s Analysis is Awry Essay Why Levitt’s Analysis is Awry Essay In section 3 of Freakonomics by Steven D. Levitt and Stephen J. Dubner, Levitt shows how bogus expectations are frequently driven by standard way of thinking and why street pharmacists despite everything live with their mothers. I concur with the creator that standard way of thinking is regularly off-base or clearly lacking to answer numerous significant questions.â Crime didn't continue taking off during the 1990s, cash alone doesn't assist government officials with winning decisions, and drinking eight glasses of water a day has never really been appeared to do a thing for one’s health.â Conventional knowledge is frequently disgracefully shaped and insidiously hard to see through as it is related intimately with disarray of affiliation and causation and furthermore error of composition.â While the facts demonstrate that a sound individual may drink eight glasses of water every day, it doesn't really imply that drinking eight glasses of water a day is useful for one’s health.â Association and causation are altogether different.â Just like smoking cigarettes doesn't really cause malignant growth †essentially on the grounds that two occasions are related (in time, for instance), i t doesn't really follow that one is the reason and the other is the effect.â People frequently confound affiliation and causation become it is helpful to expect that the evident, simple answers are the right ones.â The wrong view that what is acceptable or valid for the individual is fundamentally acceptable or valid for the gathering is another case of customary way of thinking that can't be clarified by reality in all its manifestations.â All the equivalent, it is exceptionally advantageous for individuals to simply acknowledge tried and true way of thinking, particularly while the media and notice are additionally authorizing it.â This is one reason why a great many people on the planet don't transform into researchers. To be sure, it is conceivable to break down reality or misrepresentation of tried and true way of thinking by asking the privilege questions.â There even exists a fundamental methodology that is utilized in numerous logical attempts to maintain a strategic distance from customary way of thinking in building and testing theories.â The system follows a lot of guidelines.â First, the analyst chooses what it is that the individual needs to clarify or predict.â Second, the scientist distinguishes the factors that the individual accepts are critical to what the person in question might want to clarify or predict.â Third, the presumptions of the hypothesis must be stated.â Fourth, the speculation must be stated.â Fifth, the hypothesis must be tried by looking at its expectations against genuine world events.â Sixth, it is perceived that if the proof backings the hypothesis, no further activity is essential, despite the fact that it is a smart thought to keep on analyzing the hypothesis closely.â Seventh, if the proof rejects the hypothesis, the specialist should either plan another hypothesis or revise the old hypothesis as far as its factors, suppositions, and hypothesis.â for instance, an analyst may have anticipated that the lodging business sector would encounter a blast in the coming years.â If this doesn't occur, the person is required to change the old hypothesis or make another one altogether.â But it if occurs, the specialist would be required to keep observing the states of the market to really demonstrate their hypothesis.â The way that the lodging market really encounters a blast doesn't really suggest that the blast will make financial development or not transform into a droop soon enough, along these lines nullifying all development forms expected for the blast time frame, and which had upheld the blast hypothesis of the analyst. Remembering the different phases of logical examination, I differ that the street pharmacists despite everything live with their mothers †as Levitt demonstrates in section 3 †in light of the fact that they have motivators other than making benefits that propel them to work at lower than the lowest pay permitted by law for such a high hazard job.â I accept that the fundamental inspiration for innumerable individuals who are happy to do such hazardous occupations is high benefits for sure.â Considering the expenses and advantages, as Levitt exhibited in part 3; the minor advantages for the infantrymen to sell drugs are a lot littler than the peripheral expenses, if to be sure the pay of street pharmacists is extremely low while tranquilize managing is a high hazard job.â There is by all accounts no impetus for the troopers to play out a high hazard work for low incomes.â Only the individuals who are medicate addicts as of now may acknowledge the activity due to their poor state of mind just as the way that they need the medications to continuing entering their substantial systems.â Moreover, the negligible costs keep on expanding as the more they sell sedates on the road the more possibilities there are for them to get captured or shot.â Marginal advantages, then again, keep on decrease.â Seeing that the minimal advantages will never rise to the negligible expenses, there is certainly no effectiveness in tranquilize dealing.â If Levitt is right to express that the street pharmacists are working at lower than the lowest pay permitted by law, at that point nobody would need to sell tranquilizes as people are balanced yet childish, and hazard and exertion disinclined. It is imperative to consider the four significant elements that decide a pay †which Levitt uses to clarify why the common whore wins more than the run of the mill architect.â The elements help clarify why the regular street pharmacist really acquires a high wage.â Just as meager young ladies don't normally grow up longing for turning out to be whores, people can't be relied upon to grow up longing for turning out to be street pharmacists and winding up being detained or killed.â The abilities of the street pharmacists, while not really particular, are polished in an exceptionally specific context.â The activity is undesirable on account of the high possibilities looked by the street pharmacists of being detained and getting killed.â Yet, the interest for administration that the activity satisfies is incredibly large.â The workplace of national medication control strategy has assessed that Americans burned through $140 billion on illicit medications in 1990 and around 1 of every 15 Americans matured 12 and over right now utilizes drugs.â The appraisals for overall medication use may likewise be considered to get a more clear image of the interest circumstance for drugs.â After all, tranquilize flexibly around the globe is a piece of a worldwide business with countless connections. The motivating forces for the road street pharmacists that Levitt showed in section 3 don't make a difference to most of street pharmacists in the United States.â The instances of street pharmacists that he utilized are just the poor individuals of color who have experienced childhood in a lodging venture on Chicago’s south side.â To them the way to a conventional authentic activity was essentially imperceptible and split managing was an allure profession.â If a similar examining inclination is utilized on the whores, they would be outlandishly winning more than the architect.â Just as the commonplace whore acquires more than the run of the mill planner, the ordinary street pharmacist wins more than the vast majority sitting behind office desks.â Many high school street pharmacists have figured out how to procure all around ok to have the option to bear the cost of private craftsmanship schools and pleasant cars.â Furthermore, a considerable lot of the street pharm acists can lead lives of luxury.â It is the sort of neighborhood that they sell medicates in that has the greatest effect in their lifestyles.â at the end of the day, it is the business condition and the pay of the shoppers in their quick market that really decides if street pharmacists would live with their mothers or in their own mansions.â After all, the street pharmacist who offers medications to the demigods and famous actors in Hollywood isn't relied upon to live with their mother, while the street pharmacist who bargains in the tenderloin in San Francisco likely would. Levitt additionally contrasted the break managing business and the diversion business as in many individuals are seeking a not very many prizes in these businesses.â Criminals, similar to every other person, might want to accept that perhaps one day they would turn into the pioneers of the rocks managing business and bear to lead lives of luxury.â This agrees with my conviction that the money related factor is the thing that really drives the medication dealers.â Levitt clarified that split managing is like the style callings, regardless of whether they concern the motion pictures or sports, in spite of the fact that there is an alternate dynamic at play.â Swarms of brilliant youngsters give themselves wholeheartedly to snort employments that pay inadequately and request unstinting commitment as they all need to play a similar game saw as a tournament.â In media outlets, similar to all other profoundly serious enterprises, the laborers at the base are ineffectively paid.â simultaneously, nonetheless, individuals are normally ready to work long and hard so they can go up and in the long run get paid more.â The secondary school quarterback, notorious on-screen characters and on-screen characters, just as performers and fashioners may win lower than the lowest pay permitted by law before hitting big.â Thus, before the street pharmacist or the performer is put on the map, the person must be ineffectively paid. Medication managing is something contrary to numerous serious ventures in an assortment of ways, in spite of the way that it imparts significant business standards to them, for example the mission to boost profits.â There is no lack of employments in the medication business, as the interest is amazingly huge.â Additionally, there is exceptionally high hazard appended to the activity, while the activity itself doesn't make the street pharmacists proud.â Needless to state, individuals are not expected to be pulled in to sedate managing as an occupation except if they are tranquilize addicts who wouldn't fret the risks.â Hence, it is essential to consider the work flexibly of the market for drugs.â As the dema

The roles and objectives of AASB

The jobs and targets of AASB The AASB is not really a free standard setting body. Its arrangements and exercises are exposed to the transcription and oversight by at any rate two elder siblings the IASB and the FRC, also the ASIC. A basic assessment of this announcement has been done in the light of the current bookkeeping administrative condition in Australia. This examination included a point by point investigation inside the concerned Government sites of Australia, yearly reports, diary and archives. This paper will talk about the different jobs and targets of AASB as a bookkeeping standard setting body and its relationship to FRC, IASB and ASIC in accomplishing its assignment. At long last assists with arriving at a resolution whether concur or not to concur with the above proclamation. The Australian Accounting Standard Board (AASB) AASB is a free Australian Government office under the Australian Securities and Investments Commission Act 2001. It has obligation regarding the advancement of bookkeeping principles for application by organizations and by different substances in the private and open segments, and for the improvement of Statements of Accounting Concepts. (Lundqvist k, 2003) AASB (2009, pp 23-24) in the Annual report 2009, depicts the capacity, crucial, and goals of AASB Legal elements of AASB: To build up a reasonable structure to assess proposed guidelines; To make bookkeeping principles under area 334 of the Corporations Act 2001; To define bookkeeping gauges for different purposes; To take an interest in and add to the improvement of a solitary arrangement of bookkeeping gauges for overall use; To progress and advance the principle objects of Part 12 of the ASIC Act, which incorporate diminishing the expense of capital, empowering Australian elements to contend adequately abroad and keeping up financial specialist trust in the Australian economy. Vision of AASB To be perceived as a worldwide focus of greatness, conveying a really particular commitment to the improvement of excellent budgetary announcing gauges. Strategic the AASB To create and keep up great money related announcing gauges for all areas of the Australian economy To contribute, through initiative and ability, to the advancement of worldwide budgetary revealing gauges and to be perceived as encouraging the consideration of the Australian people group in worldwide standard setting. The significant standard-setting goals of the AASB, as set out in its 2006-07 yearly report, are to: issue Australian renditions of International Accounting Standards Board archives; produce measures that treat like exchanges reliably; fundamentally impact the improvement of International Financial Reporting Standards; distinguish zones requiring essential survey and acquaint guidelines with spread those regions; and advance internationally reliable application and translation of bookkeeping norms. The Standard-Setting Process The followingâ diagramâ is an improved view ofâ the standard-setting process. Hierarchical Structure The followingâ diagramâ shows the connections between different bodies and the AASB. Source: Adapted from AASB (2009) As a free standard setting body, AASB is liable for the improvement of bookkeeping guidelines for application by organizations and by different elements in the private and open parts, and for the advancement of Statements of Accounting Concepts. (Lundqvist k, 2003) The strategies and exercises of AASB are dependent upon the management of a warning body, FRC. AASB actualized the wide key course from FRC to adopt International Accounting Standards Board (IASB) measures for money related detailing Money related Reporting Council (FRC) FRC (2009) in its site makes a wide understanding on its obligations, capacities what's more, goals. The Financial Reporting Council (FRC) is a legal body under the Australianâ as altered by the Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004. FRC is answerable for giving wide oversight of the procedure for setting bookkeeping and inspecting guidelines just as checking the viability of reviewer autonomy necessities in Australia and offering the Minister reports and guidance on these issues. Obligations of FRC on bookkeeping standard setting capacities: designating the individuals from the AASB (other than the Chairmen); endorsing and observing the AASBs needs; field-tested strategies; spending plans; and staffing courses of action (counting level, structure and piece of staffing); deciding the AASBs wide vital headings; giving the AASB bearings, counsel or criticism on issues of general approach and on the AASBs systems; checking the advancement of worldwide guidelines that apply in significant universal monetary focuses; encouraging the advancement of a solitary arrangement of bookkeeping guidelines for overall use with proper respect to worldwide turns of events; advancing the proceeded with appropriation of universal best work on bookkeeping measures in the Australian bookkeeping standard setting forms if doing so would be to the greatest advantage of both the private and open parts in the Australian economy; checking: the activity of bookkeeping measures to evaluate their proceeded with importance and their viability in accomplishing their targets in regard of both the private and open segments of the Australian economy; the viability of the consultative game plans utilized by the AASB looking for commitments towards the expenses of the Australian bookkeeping standard setting forms; checking and occasionally inspecting the degree of subsidizing, and the financing plans, for the AASB Goals of the FRC comparable to Accounting norms The FRC works inside a structure set out in the ASIC Act. Primary destinations are: Bookkeeping guidelines ought to require the arrangement of data that: permits clients to settle on and assess choices about apportioning rare assets; helps chiefs to release their commitments according to money related detailing; is applicable to surveying execution, money related position, financing and venture; is applicable and dependable; encourages similarity; and is promptly reasonable. Bookkeeping guidelines ought to encourage the Australian economy by diminishing the expense of capital and empowering Australian substances to contend adequately abroad. Bookkeeping ought to encourage the Australian economy by having bookkeeping principles that are plainly expressed and straightforward. Bookkeeping gauges ought to keep up speculator trust in the Australian economy, including its capital markets. Capacities and Objectives of FRC explains its restrictions on standard setting. As per Leo et.al (2008, pp 16) FRC has the ability to do everything important to play out its capacities, including foundation of boards of trustees and warning gatherings. Specifically FRC needs to guarantee that norms set by AASB are in congruity with principles built up in worldwide level so that there is no serious drawback abroad for Australian organizations. To guarantee that AASB as an autonomous standard setter there is an arrangement under the ACT that explicitly constrains the FRCs capacity to get engaged with the specialized consultations of the AASB. It gives that the FRC doesn't have capacity to guide the AASB corresponding to the turn of events, or making, of a specific norm, or to veto a standard detailed or suggested by the AASB .(FRC,2009) Bowrey G (2007) in his article has a huge contention on the autonomy of AASB. In ASIC Act 2001 the job of the FRC could be summed up as giving wide oversight to setting bookkeeping measures in Australia. Without a doubt segment 225 of the ASIC Act 2001 frameworks that the FRC doesn't be able to be gotten associated with the specialized thoughts of the AASB, nor does it have capacity to coordinate the AASB in the advancement of a specific norm and nor does the FRC have the ability to veto a standard made or suggested by the AASB. These restrictions set on the FRC are to guarantee the autonomy of the standard setter. The thought of freedom of the AASB is disintegrated by the reality of direct control on the arrangement of the individuals. The idea of autonomy is much additionally dissolved on the grounds that the FRC sets the AASBs needs, its field-tested strategies, planning and even it staffing courses of action. The legislature through division, Treasury, has monetary and operational control of the FRC and thusly the AASB. In this article again question of freedom emerges where, the financial plans of all administration associations experience a fundamentally top to bottom assessment process through the Senate Estimates. So despite the fact that the FRC sets the AASBs spending plan, before any cash is given the spending gauges need to experience the senate for endorsement. So how is it feasible for the AASB to be autonomous? The way that present and potential government (resistance) individuals have the ability to choose for what and the amount to finance the board surely bolsters the contention about the absence of autonomy. There doesnt give off an impression of being any autonomy on the opposite the AASB is by all accounts profoundly reliant on both FRC and the Parliament. The contention in this article finished without arriving at a particular resolution as there is explicit enactment this legislature has instituted to guarantee there is autonomy in the bookkeeping standard setting process. Hockey J (1999) in his discourse tending to the Group of 100 Executive Dinner Meeting in Sydney recommended that the FRC may have an excessive amount of intensity and an excessive amount of power over the standard setter. He said that despite the fact that 225 of the ASIC Act 2001placed some impediment over FRC the new AASB, however autonomous, will be completely responsible to the FRC similarly that the UK Accounting Standards Board is to the UK Financial Reporting Council and the US Financial Accounting Standards Board is to

Tales From The Nance Effect Road Show

Tales From The Nance Effect Road Show Even as I write this I am en-route from the border town of El Paso, TX to Boston, MA. As the old joke goes: I just flew in from El Paso and boy are my arms tired. (rim shot) But seriously, I have been on the road visiting schools, meeting students and conducting MIT Central Meetings for the better part of September. Here is a quick update of what I saw and who I met. Tucson, AZ (A.K.A. Wildcats Mr. Rattlesnake) Dry heat huh You know what? 99 degrees is 99 degrees. End of conversation! [SIDEBAR] Why did the flight attendant spend 10 minutes explaining that my seat could be used as a floatation device even though the entire route of the flight (Phoenix to Tucson) was over the desert? Just thought Id throw that out there. What a great town. I got a chance to be like Tiger on the links in Tucson. I now understand desert rules for golf. After marveling at a 240+ yard drive (just off the green) I encountered a Tucson native inhabitant; the rattlesnake. There I am in the middle of my back swing when I hear what can only be described as someone shaking beads in an empty soda can. I wish I could tell you what he/she/it looked like but I quickly vacated the area. It was at that moment that I realized why the entrance of the golf course suggested Desert Rules and Beware of Rattlesnakes. I wonder if the snake thought that I might taste like chicken. The MIT Central Meeting was held at Catalina Foothills High School. I was treated to a pre-game show by the School Marching Band. All I can say is wow! If you happen to watch the Macys Thanksgiving Day Parade, be sure to keep an eye out for The Catalina Foothills High School Marching Band. Overall I had a blast. There were great students and there was great southwestern food, but no fish tacos. Phoenix, AZ (A.K.A Sun Devils) Dry heat huh You know what? 108 degrees is 108 degrees. End of conversation! I had another spectacular Central Meeting that was held at Phoenix Country Day School. The crowds really turned out for my meeting. We had lots of great conversations and more than a few laughs at my expense. Sorry about the technical difficulties, Phoenix. I know, Im from MIT so there should be no technology issues with my presentation. In my defense Ill remind you that I only work at MIT. Oklahoma City, OK (A.K.A. SOONER Country) Beautiful weather and great students! During my visits in OKC I was able to meet students from Classen HS and Northeast Academy. The prize for the largest student turn-out goes to Oklahoma School for Science and Math who rolled into the library 50+ strong! Talk about a warm welcome! Norman, OK (A.K.A. BOOMER SOONER Epicenter) Everyone who knows me is fully aware that when it comes to sports I L-O-V-E the University of Oklahoma football SOONERS. Hell, I probably would have named my daughter Boomer if I thought I could have gotten away with it. Less I digress. As I drove into Norman it was hard to see the road because of the tears in my eyes. (Yes I was happy, but I ran over a dead skunk on highway OK-77 South). Despite minor setbacks, I pressed on. I first visited Norman High School where we talked and talked and talked. I left thinking, what a great group of students. (I must admit that collectively the Norman students had a warped and twisted sense of humorprobably the reason that I enjoyed the visit so much.) They threw lots of tough question at me and hopefully I answered to their satisfaction. Norman HS, let me know how youd rate The Nance Effect Road Show. After you visit Norman H.S. there is only one place left to go thats right, Norman North H.S! This time I was ready. With no dead skunk aroma and a cup of Starbucks Venti Skinny Peppermint Mocha Late (no whipped) I was ready for the Norman North crowd. In a room designed to hold 12 we stuffed 25 students and a video camera for an extra long discussion about MIT. Did I mention that there was no AC in the room and the outside temperature was in the high 80s? Still Norman North, you showed me mad love Sooner style. After all of that activity, I thought that I would go to the OU bookstore, take a few pictures of the football stadium and call it a night. Ohhhhh no! Not the kid! I was reunited with the great Paul Rocha, Student Recruitment Specialist at OU. (Some years earlier we were a dynamic admissions duo at Cornell.) After an amazing Mexican feast we moved on to Edmond, OK where we conducted a joint college presentation at the Edmond Native American College Program. (Big shout-out to Ms. Baya Sanchez Crynes and Ms. Sydna Yellowfish for the warm welcome and cool Native American print t-shirt!) After a great few days with awesome students and friends new and old I was forced to bid farewell to Sooner State. (Still no fish tacos) El Paso (A.K.A. Miners) El Paso welcomed me with open arms and mercury readings in the high 90s. Enough with the dry heat references! Unfortunately, I was not able to make any high school visits, but I finally got my fish tacos! Life is so good to me! After a few hours of sleep and a great meal I was ready for the best and brightest that El Paso had to offer. True to form, I was not disappointed in the number of students and families that came to learn more about MIT. Great questions and conversations from a very knowledgeable crowd. It was a love-fest. I am disappointed that my schedule did not allow me to visit any schools in the El Paso area, but I did get to make my first trip to Mexico. I spent a grand total of 20 minutes south of the border. So much to do, so little time. Alas, there is always next year. In the coming weeks the The Nance Effect Road Show is headed to New York City and Southern California. If you happened to catch it or you have questions about the application process, drop me a line and well tawk.

Bullets as Marks of Punctuation Definition

A mark of punctuation (†¢) commonly used in business writing and technical writing to introduce items in a list (or series) is known as a bullet point. As a general rule, when creating lists, use bullet points to identify items of equal importance; use numbers for items with different degrees of value, listing the most important one first. Examples and Observations: Bullets (†¢) mark items in a list. If a sentence follows the bullet, place a period at its end. Words and phrases that follow bullets need no ending punctuation. It is never necessary to place the conjunction and before the [last] item in a bulleted list.(M. Strumpf and A. Douglas, The Grammar Bible. Owl, 2004)The idea is simply to end by design rather than default, and any of the following practices will help:In your notes, keep track of potentially dramatic closing materials.Hold one of your best examples or anecdotes for the closing.Allow space for a developed ending.Commit to a closing worthy of the piece.Avoid the drift toward a clichà ©d ending.(Arthur Plotnik, Spunk Bite. Random House, 2005)Tips on Using BulletsWhen you dont mean to imply that one thing in a list is any more important than another--that is, when youre not signaling a rank order--and when there is little likelihood that the list will need to be cited, you might use bullet dots. They enhance readability b y emphasizing salient points. . . .Here are . . . more tips on using bullets well: (1) end your introduction with a colon, which serves as an anchor; (2) keep the items grammatically parallel (see PARALLELISM).(Bryan A. Garner, Garners Modern American Usage. Oxford Univ. Press, 2003)ParallelismThe most common problem with bulleted lists is an absence of parallel construction. If the first bulleted item is a declarative sentence in the present tense, the rest should also be declarative sentences in the present tense. Each item must be a continuation of the introductory sentence . . ..(Bill Walsh, Lapsing Into a Comma. Contemporary Books, 2000)Using Bullets Effectively- The most effective communication at work is not the bulky memo, but the bullet-riddled PowerPoint presentation, which people from varied nationalities can absorb in very little time.(A. Giridharadas, Language as a Blunt Tool of the Digital Age. The New York Times, Jan. 17, 2010)- For public speakers, bullet points serv e as prompts to extemporaneous speech, and are often more useful than a complete text. On the printed page, bullets break up the gray, as we say in the world of publishing. They give the eye relief.The key to making good use of bullet points is to make sure the elements on your list hang together. If youre writing about Six Things You Should Do Before Shopping for a Good Used Car, make sure you give your readers or listeners six things they should do, not four things plus a snarky observation about used-car salesmen and a nostalgic whine about what a gem your old Mustang was. . . .If your material isnt really a collection of comparable elements, then bullets are probably not the best presentation. After all, a paragraph lets you mix things up a bit: a declarative sentence here, a rhetorical question there, maybe even a brief list. A paragraph is better than bullets for putting elements into more complex relationships.(Ruth Walker, We Speak Nowadays in a Hail of Bullets. The Christia n Science Monitor, February 9, 2011)

Analysis Of Harlow s Monkey Love - 983 Words

â€Å"Monkey Love† Before I begin I want to revise the reader of the experiment Harlow conducted on the monkeys. Harlow took newborn monkeys and put them in a cage with a wire monkey that had a bottle attached to it for feeding. He also had another monkey in the cage that was covered in warm comforting cloth so that the monkey could feel safe and sound with its surrogate mother. The monkey first instinct was to eat and be fed well. As time passed the monkey no longer wanted to be comforted by food but to be comforted physically. That is when the monkey turned to its cloth mother and established a bond that kept the monkey clinging onto its cloth mother at all times. Even when the monkey would get hungry, the monkey kept all limbs on the cloth mother and reached over to get milk from the wire monkey. It was so interesting to see how the experiment went because the monkey guided towards the monkey that provided love. What is love? For one, love is a noun and also a verb. Everyone has his or her own interpretation to love and believe that it is to have a deep affection for someone or something. It also can be used as a verb to express the sexual desire for someone. In today’s culture we overly use the word love so much that it has lost its true meaning. When we fall in love with something or someone we grow an emotional attachment to that object or person. After all, we seek love when all else fails like Harry Harlow’s primates. To understand the human heart you have to be willingShow MoreRelatedGrand Theory Paper: Harry Harlow1718 Words   |  7 Pagescurrent dogma of the theory known as behaviorism (Blum 9). Harry Harlow’s parents, Alonzo Harlow Israel and Mable Rock Israel were good parents who wanted a better future for their kids. Alonzo Harlow, Harlow was just like him in personality, was a misfit—(as some described him to be). Alonzo Harlow wanted to be a doctor; however, his goals were set aside as he met his true love, Mable Israel. 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Swot Analysis for Amazon.Com Free Essays

S W O T of Amazom. Com Strength 1. Selling of hundred product ranges 2. We will write a custom essay sample on Swot Analysis for Amazon.Com or any similar topic only for you Order Now Amazom. com offering service to Web developers 3. Business contracts with other to offer distribution and warehouse storage service 4. 45% of international sale 5. Secure transactions 6. Price discount 7. Continuously shopping improvement 8. Ability of offering unique recommendations to the induviduals 9. Creating a comunityes 10. Partnership 11. New service ( Audio $ Video downloading) 12. Strategy of increasing customer traffic 13. Promotion of repeat purchase and building of awareness 14. Repurchasing of up to $500million of shares of shares if undervalues 15. Amazom has a huge global brand Weaknesses 1. Convince of themselves for the investment in a projects 2. Adding new category in business creates a risks which could damage the brand 3. Selling toys automotives brings confuse to customer of book segment 4. Free shipping undoubtly erode profit 5. Lawsuit that challenge the companies use 6. Sales increase, Income Tax increases Opportunities 1. Very large market segment 2. Emergency prerared store 3. Baby stores 4. Grand automative parts and accesories 5. Providing of several e-commerce service 6. Launching of two new business (Fulfillment $ Webstores) 7. US has more than 50% of internet users 8. Brand-loyal customers 9. Popularity of social networks (Myspace, Facebook) 10. A good economy 11. â€Å"Borders Group† will close half of its Waldenbooks store 12. International offices 13. Expansion of fulfillment capacity 14. Amazon has been a pioneer 15. Amazon has its own proprietary and licence technology from other companies 16. Investment of sevral areas 17. An increase of sales from 2005-2006 ($ 8. 5-10. 6 million) Threat 1. Power of internet for customer 2. Continueing wars ( global ) 3. Hyperinfilation ( Brazil, Mexico ) 4. Fluctuation of foreign currency 5. China has increased internet related regulations 6. VAT imposed by EU on US providers 7. Direct competitors 8. Indirect competitors 9. Decrease of net income 10. Increase of both retail and e-commerce competition 11. Expansion in to new countries/ new product segments creates ar risk How to cite Swot Analysis for Amazon.Com, Papers

The Evidence Based Practice Relating to the Nursing Care

Question: Identifying the evidence based practice relating to the nursing care of the critically ill patient? Answer: Introduction- The word evidence-based practice was first documented in 1991 by a clinical epidemiologist. It may be defined as a scientific procedure which apply various abnormal physiological condition based evidence and associating patient values in the management of patient care. It has three fundamental pillars that is physiological evidence , clinical expenditure and patient value associated with preference. And to this particular concern nursing care have significant relationship. Nursing staff , health care facility and more of all patients, all are distinctly participated in health care system. The educational and practical efficacy of nurse, complexity of patient physical condition and available operational facility, these all are significant factor in nursing care, especially in the case related to critically ill patient (Blevins, 2008). Managing staff associated personnel need to identify multiple variables prior to prominent performance. Most of the time skilled critical care nurses determining the significicance and levels of nursing stuffing as they have vast knowledge experience for optimum patient need. (Brown, Swigris and Fischer, 2012) Objectives- Comprehensive understanding of responsibilities and assessment of nursing care system for critical patient. Clarify the risk associated with physically complex condition patient to unsatisfied facility. Understanding the principle assay Ability to grip the appropriate timing sence to escalate management system of critical patient Proper comprehension regarding infection control and its effect on deteriorating patient. Acknowledgement of provision related to hygenicity and nursing care. Understanding of managing strategy associated with patient airways. Background For acute ill, traumatic patient or other complicated physiological condition Hospitalization is usually occurs. A literature review shows that with the average time of length 4.5 days in 2005 there were the cases of 39.1 million. associated risks along with infection of risk is brings with hospitalization. (Davies and Leslie, 2012) Though critically sick patient have always been there but the concept of nursing care is recently evaluated on the patient need basis along with healthcare environment. As the new doses form of drug are launch in the patient care became complicated. In 1950 the intensive care unit firstly developed for physically very complicated patient. Generally these patients required 1 to 1 care of nurse. (Elliott Aitken, and Chaboyer 2012) The report of 1996, March shows in U.S dept of health there are 273,851 nurses who are associated with health management of critically complex patient. It also indicate that 25% nurse are the responsible to care for critically sick patient of whole nursing population. Optimal parameters for critical care evidence based nursing practice- As stated by Davies and Leslie (2012) the professional care of critically acute patient by nusing care is depend upon various relevant factors like evidence-based practice , related healthcare facility to explore patient responses and associated phenomena. There are some standard approaches for nursing care in critically ill patient. (Jevon, and Ewens, 2012) Approach-1 Collection of proper relevant data regarding patient regular health monitoring for the treatment of critically ill patient. Approach-2 Analysis of survey data related to patient various physiological test report by nurse caring to comprehend the diagnosis and treatment of critical care patient. Approach-3 Responses and clarified resultant form the patient and patients condition by the skilled critical care nurse. Appropach-4 Preparing a concise plan associated with various relevant clinical findings which gives structural overview from admitting to attain resultant. Approach-5 For promoting optimum health care and facilitated environment, implementation of plan, coordination of care process and application of strategies in order to nursing care of critically ill patient. Approach-6 Collection of Positive or negative resoponses from patient point of view towards the applied programmable strategies and management. Approach-7 Scientific evaluation and analysis of responses and final blueprint of treatment after discussion with physician in order to improve the affectivity as well as quality of critically care nursing practice. Significant elements related to evidence based nursing- When a patient stays prolonged time span in hospital, particularly in intensive care unit for some serious physiological disorder or multiple organ dysfunction then some other problems also may appear. Such as problems associated with muscle stiffness, physiological disorder, deconditioning symptom, poor mental alteration, airway infection or other fundamental related organ due to lack of hygenicity, besides this problems associated with breathing, circulatory system. (Kuehn, 2012 ). It may be also related to disability of one fundamental organ like heart,lungs or kidney or partially or complete failure of multiple organ. Nutritional abnormality inherited by internal metabolic system also a significant element. These all factor and some other more factors are greatly influenced the evidence based nursing related to care of critically ill patient.( McDonagh, and Micheli, 2012) Here a detailed discussion will be there over the problems associated with airway. Airway Among various complex problems or disorder of human body system related to airway, pneumonia is most in focus in modern health care system. It is one of the most cultured administered nosocomial infection associated to hospital. (Missioncare.org.uk,2015) Pneumonia associated with ventilator (VAP) is a very common among the various type of serious airway problems. In the cost of each particular patients care unit, of more than $10,250 are adds because it almost 2time more fatal and also increases the time span of ICU service. (Scott, 2012) This recommendation associated with evidence-based practice for the treatrment of nosocomial pneumonia in the disease control and prevention which is centre for treatment and research, is published in medical article in 2004. (Betamethasone/temozolomide. 2012. Reactions Weekly, p.13)Various serious responsibility related to interventions of pneumonia associated with ventilator may be greatly affected by nursing care. In the case of pneumonia associated with hospital critical care nurses have great responsibility particu;larly for the serious stage patient and also for ,auto mechanical ventilation, status after operation.( Taunton, 2015) Vital sign which has to be concern by nurse for compromised airway- Compromised airway is generally occur by medicators release from basophills of human body which are responsible for some complicated , multiple reaction. (Urden, Stacy,and Lough, 2012) Clinically cold and some more serious disorder like bacterial sinusitis also allergy are included to it. There are also some additional characterisatiomn are may be identified. complication related to mucosal erythema as well as edema. discharge from nasal base like transparent followed by denced greenish or yellow secretion for consecutively several days. There is also sign associated with fever mainly shows in adults temperature may like to be 101 degree F or may higher. There will be also foul breath. Breaythlessness or shortness of breath in patient A markedly sharp pain of chest associated with inflammation will also may occur. Pathopsiology- The abnormalities associated with airway track is mainly due to air sacs infection of lungs by various bacteria or viuses. among these most of the cases it is the responsibility of bacteria, known as stepcoccus pneumonia and in children basically viral pneumonia is mostly shown. (White, and Dudley-Brown, 2012) As lungs is divided in the each lobes left lung consisted with 2 lobes and right lung with 3 lobes. A one lobe or multiple lobes could be affected by pneumonia at a time.generally it is associated with following steps Steps of vascular congestion of lobe. Lobe became redish which associated with liver accusation. After then lobe of lungs became dry and grayish. As inflammatory cell destroyed, neutrophillic cell became excudates in decreasing manner. Gradually lung alteration is conducted as fibrinous became liquefied. Evidence-base Management strategy by nurse as per wider basis Critical care nurse have to take over mainly four factor such as hygiene factor related to hand, management of respiratory track , positioning of patient and knowledge of staff. In the management of abnormality related to airway passage for critically sick patient, hand hygene is significant factor. Prominent evidence suggested that Infection of fatal pathogens from stuff and nurses associated with critical care management to hands of affected patient may markedly reduced by washing the hand with alcohol. And even it is far more anti-bacterial and effective than simple medicated soap. The much preferable process is wash hand with warm water along with antimicrobial soap. Glove which needed to be wom in case of respiratory secretion. With each patient handling contamination free, well washed hand and changes of gloves should be fundamental requirement. It is also applicable for the handling of single patient associated with contaminated body parts and the lower or upper respiratory track equipment. (Winkelman, 2013) Particularly in case of postoperative critically care patient, respiratory track complication may significantly minimizes by the exercise of deep-breathing which is a important factor for nursing management. A long-term research on meta-analysis conducted from 1966 to 1991 suggested the impact of exercise associated with deep breathing performed by McIntosh. The study also taking the other factor like spirometry and condition after operation. The result also shows that even than medicinal treatment the particular exercise along with spirometry is much more fruitful. A present-day study taking subjects into two group. first who are maintaining deep-breathing after surgery of upper abdominal, second who are in the group without after that sugery. Results shows that complication related to upper airway track were markedly improve in exercising conducting group upto 8.5% versus 20.5% in the group which is controlled.Even after a surgery of coronary artery this breathing exercise proven to be more significant and risk of further attacking of disease also reduced. (York and Kane, 2013) Besides that another significant evidence based factor in nursing care for critically ill patient obviously will be respiratory management equipments and the validation method regarding their decontamination as well as sterilization also. There is still some underwork strategies regarding application of catheters and the use methodology of it for management of abnormal airway condition. A significant role is drown upon concerning the treatment of abnormal airway condition of physiologically complicated patient. Elevated head followed by the body position is prominent which could minimizes the reflux rate of esophageal which is associated with pneumonia along with hospital admission. In difference with that position in supine stage is independent for risk factor in fatal patient or patient who are in mechanical ventilation. A recent scientific study in crossover base have been done in two groups like, one group with recumbent position and other hold in supine position. The study was performed in 19 complicated patient which are in mechanical ventilation. The results shows after radio labeling that the more count of radioactive gastric elements in subjects where it is held in supine position than the position of recumbent. The inexpensive as well as simple intervention when the patients elevated head position on bed at risk of critically sick patient. But till the opposite effect of this elevated head position is not been analyzed in subjects without any contraindication. Another recent study in the coordination to backrest elevation of pneumonia associated with ventilation. It is done on 65 subjects.elevation of backrest was consistently monitored. Average backrest elevation is 21.8 degrees, for complete study span. Here by a statistical procedure calculative design, the risk of pneumonia on day 4 is 80% in the variability. (Yao, Malhotra, and Fontes, 2012) Education of staff especially along with nurses who are closely related with the management of critically sick patient or those who are in the deep ventilation is the fundamental element. Physician should be proponented by a skilled nurse in order to minimize the chances of pneumonia associated with ventilation in addition to launching the appropriate practice for the management of critically ill patient. Targetting of minimizing the evidence of pneumonia associated with ventilation applying a self-study design on element related to risk and developed practiceexolained outcomes on other trial. The knowledge design, preferred to abnormal airway care physician and critical nurses which was performed by prominent team with sound scientific knowledge. Conclusion- For understanding the management of serious disorder associated patient, their behavior and relatively collected proper response of the patient a critical care nursing should must cply with some fundamental facts like the guide-line based on scientific evidence, structural analyzing design, and theories which are relevant to concern critical condition etc. Such thought provoking application could provides fundamentals of nursing care in health care system for critically ill patient. Although various fields are still not in focused related to which may be proven as significant key factor in future for this concern. References- Betamethasone/temozolomide. (2012). Reactions Weekly, NA;(1420), p.13. Blevins, E. (2008). Exploring nurses' knowledge and attitudes regarding hand hygiene and general practice guidelines. Brown, K., Swigris, J. and Fischer, A. (2012). Interstitial Lung Diseases and Autoimmune Lung Diseases, An Issue of Immunology and Allergy Clinics. London: Elsevier Health Sciences. Davies, H. and Leslie, G. (2012). Acute Kidney Injury and the Critically Ill Patient. Dimensions of Critical Care Nursing, 31(3), pp.135-152. Elliott, D., Aitken, L. and Chaboyer, W. (2012). ACCCN's critical care nursing. Chatswood, N.S.W.: Mosby/Elsevier. Jevon, P. and Ewens, B. (2012). Monitoring the critically ill patient. Chichester, West Sussex: Wiley-Blackwell. Kuehn, B. (2012). Pneumonia Vaccine. JAMA, 307(8). McDonagh, D. and Micheli, L. (2012). FIMS sports medicine manual. Philadelphia: Wolters Kluwer Health/Lippincott Williams Wilkins. Missioncare.org.uk, (2015). Care Home London | Nursing Care Homes | Residential Care Homes | Nursing Homes. [online] Available at: https://www.missioncare.org.uk/ [Accessed 13 Mar. 2015]. Scott, P. (2012). Inhalation pneumonia (aspiration pneumonia) in adult cattle. Livestock, 17(7), pp.17-19. Taunton, W. (2015). Welcome to Horizon. [online] Horizoncare.org. Available at: https://www.horizoncare.org/ [Accessed 13 Mar. 2015]. Urden, L., Stacy, K. and Lough, M. (2012). Priorities in critical care nursing. St. Louis, Mo.: Elsevier/Mosby. White, K. and Dudley-Brown, S. (2012). Translation of evidence into nursing and health care practice. New York: Springer Pub. Co. Winkelman, C. (2013). Mechanisms for Muscle Health in the Critically Ill Patient. Critical Care Nursing Quarterly, 36(1), pp.5-16. Yao, F., Malhotra, V. and Fontes, M. (2012). Yao Artusio's anesthesiology. Philadelphia: Wolters Kluwer Health/Lippincott Williams Wilkins. York, N. and Kane, C. (2013). Caring for the Critically Ill Patient With Tuberculosis. Dimensions of Critical Care Nursing, 32(1), pp.6-11.

Amphotericin B Essays - Antifungals, RTT, Rare Diseases, Free Essays

Amphotericin B Essays - Antifungals, RTT, Rare Diseases, Free Essays AmB kills yeast via ion channel-mediated membrane permeabilization. This channel model has been extended to also rationalize the unique lack of resistance to AmB as well as its dose-limiting toxicity. This perceived understanding has stimulated extensive research toward the goals of developing new channel-forming compounds as putative resistance-refractory antimicrobial agents and/or less toxic derivatives of AmB that more selectively form channels in fungal cells versus human cells. This drug should be used primarily for treatment of patients with progressive and potentially life-threatening fungal infections; it should not be used to treat noninvasive forms of fungal disease such as oral thrush, vaginal candidiasis, and esophageal candidiasis in patients with normal neutrophil counts. Expected Pharmacological Action AmphotericinB deoxycholate is an antifungal agent that acts on fungal cell membranes to cause cell death. Depending on concentration, these agents can be fungistatic (slows growth on the fungus) or fungicidal (destroys the fungus). Therapeutic Uses Antifungals are the treatment of choice for systemic fungal infection (Candidiasis, Aspergillosis, Cryptococcosis, Mucormycosis) and nonopportunistic mycoses, (Blastomycosis, Histoplasmosis, Coccidioidomycosis). Some antifungal treat superficial fungal infections: dermatophytic infections (tinea pedis [ringworm of the foot], tinea cruris [ringworm of the groin]); candida infections of the skin and mucous membranes; and fungal infections of the nails (Onychomycosis). Adverse effectsNursing Intervention infusion reactions (fever, chills, rigors, and headache) 1 to 3 hr after initiation pretreat with diphenhydramine (benadryl) and acetaminophen. meperidine (demerol), dantrolene, or hydrocortisone may be given for rigors. thrombophlebitisobserve infusion sites for signs of erythema, swelling, and pain. rotate injection sites. administer in a large vein and administer heparin before infusing amphotericin b. nephrotoxicityobtain baseline kidney function (bun and creatinine) and do weekly kidney function tests. monitor i&o. infuse 1 l of saline on the day of amphotericin b infusion. hypokalemia monitor electrolyte levels, especially potassium. administer potassium supplements accordingly. bone marrow suppressionobtain baseline CBC and hematocrit, and monitor weekly.

CPi South Africa Essays

CPi South Africa Essays CPi South Africa Essay CPi South Africa Essay The mission of the South African Reserve Bank (SARB) is the achievement and maintenance of price stability1. The price stability of goods is maintaining a constant price level for goods and services, not essentially at the same price level but rather at a constant level of price increases, i.e. a constant level of price inflation. The SARB attempts to control this price inflation through inflation targeting. Inflation targeting is the attempt to keep the level of inflation within a certain band. In South Africa this band is between 3% -6%. The SARB attempts to use the repo rate to try and affect consumer spending and control the level of spending within the economy and hence control the price inflation of goods.  CPI for all urban areas  The level of inflation is based upon the Consumer Price Inflation (CPI) level which is released by Statistics South Africa. The CPI is based on the price changes over a one year period for a basket of goods and services. This index is based on a number of factors2 which are then weighted based on the estimated total expenditure of all South African households. Stats SA performs an Income and Expenditure Survey (IES) survey to estimated the expenditure of South Africans and hence the weightings of each expenditure3. Prior to 2009 the CPI index was split between a headline CPI and a CPIX (excluding mortgage payments) however a number of changes to the weightings and basket of goods used in 2009 has brought these two in line and now the target for inflation targeting is the CPI for all urban areas.  Alternative Indices  There are a number of alternative CPIs that look at readjusting their weightings of the basket of goods and services to more accurately capture the CPI for specific sectors4 or people5. There are also indices that look at excluding factors of inflation in their calculations6, this can be done for a few reasons, it can help us differentiate between inflation that can be affected by SARB actions and inflation that cannot (i.e. external inflation caused by the price of oil increasing which the SARB has no control over). It can allow us to remove individual areas of inflation to also get a better picture of inflation less these areas. There are also indices based upon income group., this is known as the CPI per expenditure quintile, with quintile 1 being the lowest income and 5 being the highest. According to the IES survey for 2005/2006 the lower income households spent more of their income on food and non alcoholic beverages as well as clothing and footwear.  There are also differences in weightings and inflation make ups depending on the geographical location, there are indices that look at each of the nine provinces; indices that look at rural and urban and secondary urban areas. As expressed by Stats SA in there explanation of how they calculate the weightings for the CPI for all urban areas, not all South Africans consume the same goods or services, nor do they consume them in the same proportion. And later the inflation rate is based on the estimated total expenditure of all South African households It is important to understand that the figure released by Stats SA and ultimately used by SARB to target inflation, most probably will not match your own actual inflation rate. This is of particular importance for a number of reasons, such as workers looking for wage increase usually use the CPI rate announced in there wage increase negotiation discussions; investors looking for a fair rate of return will generally use the announced CPI in assessing their return. Ultimately it is important to assess whether or not the announced CPI is a good figure to use when asses future real returns on an individual level. My Own inflation Rate  If I am to look at a published index to best represent my inflation I would obviously start with the CPI for the City of Cape Town, secondly I would look at an index excluding mortgage payments which would be CPI excluding Housing. And lastly I would look at an index that would roughly cover my income range  Appendix  The CPI rate used by the reserve bank is obviously going to not match my expenditure on goods and services, so I have used the latest CPI realise from Stats SA to try and more accurately see my own CPI and then see if my interest are aligned by the SARBs current inflation targeting policy or if as an individual I would prefer them to act in other ways. There are hundreds of different aspects to each of the main inflation sectors, so it is important to note that this is just done as a quick assessment and is not particularly accurate. I have looked at the additional tables file for December 2009, which goes on to split the CPI per index by each province. So using the CPI for the Western Cape (which totals 6.6%) I attempted to more accurately weight each specified product and service according to my own expenditure. I have created a rough monthly expenditures table, divided up between each different expenditure category. I then looked at my weightings of each of these categories and multiplied it by the Actual CPI amount given. My rough CPI figure is 8.48%, although this is only a rough figure it is interesting to see where my exposure to CPI (insurance and my household maintenance and repair).  1 South African Reserve Bank, reservebank.co.za/ [accessed Feb 2010]  2 Food and non-alcoholic Beverages, Alcoholic beverages and tobacco, Clothing and footwear, Housing and utilities, Household contents and services, Health, Transport, Communication, Recreation and culture, Education, Restaurants and hotels, Miscellaneous goods, and services. 3 Consumer Price Index Key Changes in 2009, Stats SA, statssa.gov.za/cpi/documents/CPI%20booklet%20-%20final%2016%20Oct%2008.pdf [accessed Feb 2010]  4 CPI for Durable , semi durable or non durable goods; CPI for services and CPI for food and non-alcoholic beverages (NAB)  5 CPI for Pensioners  6 CPI excluding petrol, CPI excluding energy, CPI excluding food and NAB, CPI excluding housing; CPI excluding food, NAB, petrol and energy, CPI excluding equivalent rent; CPI excluding administered prices; CPI excluding petrol and paraffin

Information system management Assignment Example | Topics and Well Written Essays - 6000 words

Information system management - Assignment Example ferrous forgings (e.g. pressure vessels, satellite rings, aero plane undercarriages, chemical plant etc.) is performing their activities by connecting every area of it so that the whole system works together. Currently the issue is with the performance of IT system and its coordination with the business management. Any business that is established cannot proceed or grow unless there is proper integration of the divisions that are set in order to carry business. IT system and the business are two other ways, both work in their own manner and both have different ways of solving their problems and issues. Business focuses more on goals where as IT deals with the use of appropriate software’s and hardware’s. For organization’s it is difficult to bring the IT system and the management to one platform in order to bring sustainability to the business. This can only be done when there is proper communication of information between both divisions. Being a manager I know t hat the dissimilarity actually breakdowns the system and due to this the alignment of the business and the IT also get disturbs. Business success comes when there is understanding between both areas because the working ways and conditions are different of business and IT. Management can all the time be informed with the IT issues by communication and the involvement of IT specialists in the board meetings. Creating value in business is impossible unless the latest trends are not followed. Because of the changing trends and environment, businesses are creating shifts in order to bring sustainability and uniqueness in the services and operations. IT is one and the best way of providing customer service, establishing convenient distribution channels, and information regarding the products and rescheduling business boundaries. Business managers should see IT as the major component and a wheel of the business. To develop any business activity it is important to give required significance to the IT system of the firm whereas, IT plays a very important role in performing the business activities. This report will present the tools and techniques and the strategies that can be used for performing and fixing up the issues that are currently faced by this company regarding the performance of IT and the cost related issued with IT infrastructure. It furthers demonstrate the solutions to such problems to adhere the further adverse effects of IT on the organization. This report also illustrates that why this enterprise failed to follow the use of IT effectively whereas today the need of IT is rapidly increasing but due to the mismanagement and improper coordination of IT and business management it is bringing difficulties for them to manage their rapid growing costs of IT. Key Issues Following are the issues that are generally faced by the company related to IT as management failed to identify the issues and couldn’t create the solutions to it The issue that manageme nt faces consistently about IT is the change over time. As IT has moved into the strange era where the needs and demands of the market change over time and this causes IT to change their strategy whereas the strategies and working processes of the management also change. So it gets difficult for both the functions to work on one platform. Another issue is that whosoever is working in IT division need to keep themselves update and should be well

Separation of Church and State Essay Example | Topics and Well Written Essays - 4250 words

Separation of Church and State - Essay Example American attitudes concerning church-state relations are subject to two conflicting forces. First, Americans are very religious. In comparison with citizens of other industrialized nations, Americans report an extraordinarily high degree of religious belief, association, and practice. This means that, at times, there is a strong enticement on the part of some citizens to transform their religious principles into public policy. Specifically, if religion is a significant influence in a citizen's life, that citizen seems more probable to seek government support of religiously based values. Second, and perhaps, on the contrary, the notion of a constitutional "separation of church and state" (a phrase that appears nowhere in the U.S. Constitution) is an influential symbol in American political discourse. Though there is little agreement relating to the precise meaning of such separation, the principle itself is not normally challenged in American politics. Thus, Separation of church and s tate was definitely not an invention of the Enlightenment political theory that might have prompted similar thoughts in the mind of the respected Thomas Jefferson. Certainly, it misleads to analyze the lively experiment in political terms at all, for the Providence regime was just as certainly and decisively rooted in Protestant theologies as was the Puritans city on a hill.The encompassing description of liberty of conscience was the systematizing principle of society, and it produced a kind of severance of church and state. It is thus significant to keep in mind that the cleavage was meant to protect the church and the soul from the debasing influence of the magistrate, to protect the garden of the church from corruption in the boondocks of the world. The quest for spiritual purity quite factually led into the political realm, where he was basically traditional, if not authoritarian.

Social Enterprise Challenge Assessment

Social Enterprise Challenge Assessment I was one of several students who volunteered to grade a number of business plans that had made it to the third and final stage in the Teach a Man to Fish Social Enterprise Challenge (SEC). Stage three involved each school running of an enterprise for at least one term based on their original business idea, backed up by business and financial plan. Final reports were graded on the narrative final reports submitted and marked on Business Implementation, Challenges and Solutions, Outcomes, People, Planet, Profit, Development and Sustainability, Financial Reporting. In addition, we had discretion to award a maximum of 10 Bonus Points where schools had demonstrated a high level of student involvement or a high level on innovation. In total, there were 100 points to award to each school. Of the nine schools I was given, all were from India except for one New Zealand school. Enterprises included; tree hangers, plants and crafts, jewellery and food products. It was clear students and teachers had invested considerable time and effort in taking part in the challenge. The SEC allowed students develop practical business skills and helped schools generate extra income for their school, or a social cause of their choice. I chose this POD because I hope to lecture in business or accounting in the future and enterprise development is relevant in both disciplines. I was also intrigued to see what school children in different and often underdeveloped countries would chose to do when given the support and opportunity to develop an enterprise. Enterprise development particularly in the curriculum provides students with a great way to develop hard and soft skills like critical-thinking, communication and teamwork skills and could potentially help them invent their own career in the future. Support for entrepreneurship such as that given by the SEC is important, it has the potential to have a positive impact on the entrepreneurial dynamism of our economies. Not only does it create business start-ups and social enterprises like the micro enterprises in each school reaching the final but it also makes students more employable by developing hard and soft skills. Economic growth is at the heart of addressing societal issues like; unemployment, gender equality, poverty and other health related issues worldwide, and enterprise development (ED) is a key tool to enable growth. Enterprise development is defined as the act of investing time and capital in helping people establish, expand or improve businesses. Enterprise development helps people to earn a living; it helps them out of poverty; and it leads to long-term economic growth for themselves, their families and their communities (Miemiec, 2013). Entrepreneurship and innovation are considered to be crucial to sustainable economic development and competitive advantage (EC, 2012). The objective of ED is to help create a viable business that has the ability to grow, this leads to job creation and promotes economic growth. It is much easier to develop and grow a small business than it is to attract a large company to a community, therefore, small businesses often lead to economic growth within the communities they operate in. The significance of micro firms, defined as businesses with less than ten employees by European Union (EC, 2009) has been widely recognised. These firms from the backbone of many countries economies, as they represent the large majority of existing businesses (Heshmati, 2001). Micro businesses employ locals and this in turn causes cash to move through the communitys economy. Successful local businesses allow owners to remain in place and generate more opportunities for other entrepreneurs (Muske et al., 2007). Small enterprises make substantial contributions to employment, income and output within the world economy. Within OECD member countries over 95% of organisations are SMEs and micro-enterprises, they account for 55% of GDP. In developing countries, with the exception of agriculture over 90% of organisations are SMEs or micro-enterprises, making significant contributions to GDP (Edinburgh Group, 2013). Small enterprises tend to be labour intensive, this in turn leads to job creation, which can benefit developing economies and economies where unemployment levels are high. In addition, smaller enterprises tend to be in rural areas, thus providing much-needed local employment. SMEs are considered an engine for economic growth as well as for economic development especially in the developing countries (Subhan, Mehmood, and Sattar, 2013). As growth strengthens, smaller enterprises assume a key role in development and restructuring. They can satisfy the increasing local demand for services, which allows increasing specialisation, and furthermore support larger enterprises with services and inputs (Fjose et al. 2010). Smaller enterprises encourage healthy competition in competitive markets. They shall encourage competition in terms of price, product design and efficiency (Johnson and Soenen, 2003).Larger enterprises would have a monopoly in some areas but for their existence. Small and medium enterprises represent a factor of balance at the micro and macroeconomic level. Having as correspondent the middle class in the society, the small and medium enterprises counter-balance the monopoles and oligopolies, reducing the capacity of the big companies of controlling the market (Savlovsch and Robu, 2011). Every young person should have a practical entrepreneurial experience before leaving compulsory education (EU Commission). The modern global economic business environment requires flexible, adaptable and innovative graduates. Now more than ever there should be more emphasis placed on enterprise development and entrepreneurship in education at all levels. Enterprise education is defined as the process of equipping students (or graduates) with an enhanced capacity to generate ideas and the skills, in addition to enterprise capability supported by better financial capability and economic and business understanding (DCFS, 2010 and QAA, 2012). Entrepreneurship education equips students with the additional knowledge, attributes and capabilities required to apply these abilities in the context of setting up a new venture or business (QAA, 2012). Enterprise education and the skills gained through it can offer students further skills to deal with lifes challenges and uncertain future prospects. Skills like; problem solving, self-reliance, creativity and the ability to adapt to change. In addition, it open students minds to the idea of self-employment as a viable career option. Garavan et al. (1997) concluded that enterprise education in third level universities and colleges in Ireland encouraged graduates to look creatively at their future opportunities and resulted in higher levels of entrepreneurial activity. A business plan is a risk management instrument, through which both internal and external benefits can be derived (Barringer, 2009). Externally, it provides potential investors with an overview of the business opportunity and potential ways to exploit it. From the internal perspective, it provides the entrepreneur with a road map to follow. To quote Confucius A man who does not plan long ahead will find trouble at his door. By writing business plans entrepreneurs or potential entrepreneurs improve their chances of getting there. By participating in the SEC challenge I have improved my knowledge of business planning from a difference perspective, having previously compiled a business plan as a student during my undergraduate studies. Participating in the SEC challenge has raised my awareness of the benefits of enterprise education for both the student and society as a whole. Students develop hard and soft skills in addition to a better understanding and knowledge of business and working life. Society gains due to improved competitiveness of the businesses developed by entrepreneurs. Without exception, each final report I corrected showed that students had gained an understanding of the following; Generating new ideas Gathering and managing resources Taking advantage of local opportunities Identifying, assessing and managing risk Interpersonal communication and influencing skills Monitoring and evaluating personal performance Using initiative The benefits of enterprise education include; Improved education outcomes for students through experiential learning Increases co-operation between academic institutions, local business and the community Improved career and business awareness among students Highlights more careers pathways for students In the future I hope to put the knowledge learned from taking part in this POD to use in teaching. I feel programmes like the Teach a Man to Fish SEC and others like it provide students with a better understanding of business and entrepreneurship as they bring a taste of real life business into the classroom through experiential learning. Students get to experience the reality of entrepreneurship. It encompasses all aspects of starting a business from coming up with a viable business idea, developing a business plan, producing a product, carrying out the necessary market research, promoting the business and the financial aspects like bookkeeping and calculating ROI. As previously stated the objectives of enterprise education are: To give students practical real life experience of setting up and running their own business To encourage students to think about entrepreneurship and self-employment as a viable career choice To enhance the teaching of business and entrepreneurship in schools by combining classroom learning with real life experience. References Barringer, B.R. (2009), Preparing Effective Business Plans: An Entrepreneurial Approach, Pearson Education, London. Fjose, S., Grà ¼nfeld, L. A. and Green, C. (2010), SMEs and Growth in Sub-Saharan Africa Identifying SME Roles and Obstacles to SME Growth, MENON Business Economics publication no. 14/2010. Garavan, T., Fleming, P. and Ó Cinnà ©ide, B. (1997), Entrepreneurship and Business Startà ¢Ã¢â€š ¬Ã‚ ups in Ireland, Oak Tree Press, Dublin.

Ghani Glass (Strategic Management Report)

Literature Search Strategy â€Å"Strategic Management can be defined as the Art and Science of formulating, implementing and evaluation cross-functional decisions that enable an organization to achieve its objectives† [1] â€Å"Strategy is the direction and scope of an organization over the long-term which achieves advantage for the organization t Through its configuration of resources within a challenging environment to meet the needs of markets and to fulfill stakeholder expectations†. [2] Stages of Strategic Management The strategic-management process consists of 3 stages that are; pic] Strategic Analysis This is all about the analyzing the strength of businesses' position and understanding the important external factors that may influence that position. The process of Strategic Analysis can be assisted by a number of tools, including: †¢ PEST ANALYSIS – a technique for understanding the â€Å"environment† in which a business operates †¢ SCENA RIO PLANNING – a technique that builds various plausible views of possible futures for a business †¢ FIVE FORCES ANALYSIS – a technique for identifying the forces which affect the level of competition in an industry MARKET SEGMENTATION – a technique which seeks to identify similarities and differences between groups of customers or users †¢ DIRECTIONAL POLICY MATRIX – a technique which summarizes the competitive strength of a business’s operations in specific markets †¢ COMPETITOR ANALYSIS – a wide range of techniques and analysis that seeks to summaries a businesses' overall competitive position †¢ CRITICAL SUCCESS FACTOR ANALYSIS – a technique to identify those areas in which a business must outperform the competition in order to succeed SWOT ANALYSIS – a useful summary technique for summarizing the key issues arising from an assessment of a business’s â€Å"internal† position and â€Å"exte rnal† environmental influences. STRATEGIC CHOICE This process involves understanding the nature of stakeholder expectations (the â€Å"ground rules†), identifying strategic options, and then evaluating and selecting strategic options. STRATEGIC IMPLEMENTATION It is the trickiest part†¦ When a strategy has been analyzed and selected, the task is then to translate it into organizational action. VISION STATEMENTS Vision statements are defined by organizations as â€Å"What do we want to become? † [3] â€Å"Strategic visions ought to convey a larger sense of purpose- so that employees see themselves as â€Å"building cathedral† rather than â€Å"laying stones†. [4] MISSION STATEMENTS â€Å"Mission Statements are enduring statements of purpose that distinguish one business from other similar firms. A mission statement identifies the scope of the firm’s operations in product and market terms. † [5] â€Å"A mission describes the organization’s basic function in society in terms of the products and services it produces for its customers†. [6] A clear Mission statement should have each of the following elements: [pic] External Assessment: Porter 5 Forces Model That Shapes Industry The process of performing an external audit must involve as many managers and employees as possible. Awareness of the 5 forces for external assessment can be very useful for the firm as it is able to determine the position of the respective company in the industry. To perform an external audit a company must accumulate competitive intelligence and information about economic social cultural demographic environmental political governmental legal and technological trends. Other sources include magazines, newspaper, internet and business journals. Following are the 5 forces that shape strategy. [7] These 5 forces determine the attractiveness of the industry. If the rivalry is intense, for example in auto and gaming industry, we can say that it has reduced the attractiveness of the industry. Similarly, if the forces are moderate, as they are in industries such as software, soft drinks, and toiletries, many companies are profitable. Industry structure drives competition and profitability, not whether an ndustry produces a product or service, is emerging or mature, high tech or low tech, regulated or unregulated. While a myriad of factors can affect industry profitability in the short run – including the weather and the business cycle – industry structure, manifested in the competitive forces, sets industry profitability in the medium and long run. These five forces are further affected by the external environment which are rather uncontroll able and are widely popular as PEST in Porter theory of 5 forces. They are called Political, Environmental, Social and Technological. Relationship between External forces and Organization [pic][8] Internal Assessment: Strengths and Weaknesses A strategic-management audit of a firm’s internal operations is imperative to organization’s health. Increasing number of successful organizations are using the internal audit to gain competitive advantage. Management, marketing, financial/accounting, production / operations and management information systems represent the core competencies of the organizations and their value chains. An organization should identify and evaluate internal strengths and weaknesses in order to effectively formulate and choose among alternative strategies. [9] GENERIC COMPETETIVE STRATEGIES The second central question in competitive strategy is a firm's relative position within its industry. Positioning determines whether a firm's profitability is above or below the industry average. A firm that can position it well may earn high rates of return even though industry structure is unfavorable and the average profitability of the industry is herefore modest. Each of the generic strategies involves a fundamentally different route to competitive advantage, combining a choice about the type of competitive advantage sought with the scope of the strategic target in which competitive advantage is to be achieved. The cost leadership and differentiation strategies seek competitive advantage in a broad range of industry segments, while focus strategies aim at cost advantage (cost focus) or differ entiation (differentiation focus) in a narrow segment. The specific actions required to implement each generic strategy vary widely from industry to industry, as do the feasible generic strategies in a particular industry. While selecting and implementing a generic strategy is far from simple, however, they are the logical routes to competitive advantage that must be probed in any industry. [10] COST LEADERSHIP: Cost leadership is perhaps the clearest of the three generic strategies. In it, a firm sets out to become the low-cost producer in its industry. The firm has a broad scope and serves many industry segments, and may even operate in related industries — the firm's breadth is often important to its cost advantage. The sources of cost advantage are varied and depend on the structure of the industry DIFFERENTIATION: The second generic strategy is differentiation. In a differentiation strategy, a firm seeks to be unique in its industry along some dimensions that are widely valued by buyers. It selects one or more attributes that many buyers in an industry perceive as important, and uniquely positions itself to meet those needs. It is rewarded for its uniqueness with a premium price. FOCUS: The third generic strategy is focus. This strategy is quite different from the others because it rests on the choice of a narrow competitive scope within an industry. The focuser selects a segment of group of segments in the industry and tailors its strategy to serving them to the exclusion of others. By optimizing its strategy for the target segments, the focuser seeks to achieve a competitive advantage in its target segments even though it does not possess a competitive advantage overall. STUCK IN THE MIDDLE: A firm that engages in each generic strategy but fails to achieve any of them is â€Å"stuck in the middle. † It possesses no competitive advantage. This strategic position is usually a recipe for below-average performance. A firm that is stuck in the middle will compete at a disadvantage because the cost leader, differentiators, or focusers will be better positioned to compete in any segment. If a firm that is stuck in the middle is lucky enough to discover a profitable product or buyer, competitors with a sustainable competitive advantage will quickly eliminate the spoils. In most industries, quite a few competitors are stuck in the middle. Ghani Glass – An Introduction: The founder of Ghani Group Sheikh Abdul Ghani (late) started business in 1963 and established a coal / silica sand mining firm in the name of Ahmad Brothers and Company. Now, the group is running a diverse range of businesses including three glass manufacturing plants, an automobile plant and a number of leading mining companies have an annual turnover of over Rs. 8 Billion. The origins of this group can be found in the mining industry given its involvement in coal, salt and sand mining since 1959. The substantial strategic benefits of vertical integration led them to consider venturing into the manufacturing field in subsequent years. The chosen manufacturing field was glass manufacturing due to the robust demand for glass products in the country. The Ghani Group was not new to the glass manufacturing industry. They had been supplying silica sand to the glass industries four decades back. Their dedication to quality and customer service allowed them to land an exclusive 25 year excellence certificate from Phillips. Their venture into the manufacturing field took the form of Ghani Glass, incorporated in 1992 and starting production in 1995, forming the first step on the road to success of Ghani Glass limited, which today own three glass plants namely GGL1 – Hattar, GGL2 – Landhi and GGL3 – Sheikhupura Road. Companies of the Group The diversified businesses operating under the umbrella of Ghani Group are as follows: †¢ Ghani Glass Limited, Hattar (GGL-I) †¢ Ghani Glass Limited, Karachi (GGL-II) †¢ Ghani Glass Limited, Sheikhupura (Float Glass Plant) †¢ Ghani Automobiles Limited (formerly Ghani Textile Ltd. †¢ Makerwall Collieries Limited †¢ Ghani Mines (Pvt. ) Limited; †¢ Ghani Chromites Mines Pvt. Limited †¢ Ghani Corporation †¢ Ahmed Ghani Joint Venture †¢ Al-Muhandus Corp. †¢ Ahmed Brothers and Co. Vision: To indulge in honesty, integrity and self determination, to encourage excellence in performance and most of all to put our trust in Allah, so that we, eventually through our efforts and belief, become the leader amongst glass manufacturers not only in Pakistan but in Asia. Mission: The company has no mission statement and according to them, their vision connotes their mission. External Environment Porter’s Five Forces Applying Porter’s five forces to the Glass Industry allows us to acquire a fair view of the potential attractiveness in terms of profitability of the industry and Attractiveness. | | |Yes |~ |No | |A | |(+) | |(–) | | |Threat of New Entrants | | | | | |Do large firms have a cost or performance advantage in your segment of the industry? | | | | | |[pic] | | | | |Are there any Proprietary product differences in your industry? | | |[pic] | | |Are there any established brand identities in your industry? | | | | | | |[pic] | | | | |Do your customers incur any significant costs in switching suppliers? | |[pic] | | |Is a lot of capital needed to enter your industry? | | | | | | |[pic] | | | | |Is serviceable used equipment expensive? | | | | | | |[pic] | | | | |Does the newcomer to your industry face difficulty in accessing distribution channels? | | | | | |[pic] | | | | |Does experience help you to continuously lower costs? | | | | | | |[pic] | | | | |Does the newcomer have any problems in obtaining the necessary skilled people, materials or | | | | | |supplies? |[pic] | | | | |Does your product or service have any proprietary features that give you lower cost? | | | | | |[pic] | | | | |Are there any licenses, insurance or qualifications that are difficult to obtain? | | | | | | |[pic] | | | | |Can the newcomer expect strong retaliation on entering the market? | | | | | | |[pic] | | | The threat of new entrants is significantly low as there is high capital investment required for establishing a manufacturing facility in this industry. Besides, the current players in market are well settled and have strong brand identities. Incase any new firm wants to enter this industry; it will be faced with predicaments in setting-up distribution links as the existing companies have substantial control over main channels. PEST ANALYSIS P: The Government of Pakistan has certain regulations related to establishment of a manufacturing facility. All new firms are subject to different licensing and regulatory procedures and the industry’s tax structure in also not supportive. E: Primarily, the economic conditions do not affect the behavior of this industry as glass has no direct substitutes and all the buyers including domestic and commercial ones are bound to buy glass when they need it. S: With a strong cultural heritage, Pakistanis are well known for their arts and crafts. The words beautification and decoration are directly related with glass. Besides basic usage, people decorate their houses with vases and other decorative items made up of glass (mainly float glass). Hence, the social and societal values are in favor of this industry. T: Pakistan is an underdeveloped country and one of the basic reasons for that is lagging behind in the field of technology. The technology required in this industry is not only expensive but the manufacturing / processing equipments are also not easily available in Pakistan. All existing companies have to import the machines from countries such as Japan, Germany and China. | | |Yes |~ |No | |B | |(+) | |(–) | | |Bargaining Power of Buyers | | | | | |Are there a large number of buyers relative to the number of firms in the business? | | | | | |[pic] | | | | |Do you have a large number of customers, each with relatively small purchases? | | |[pic] | | |Does the customer face any significant costs in switching suppliers? | | |[pic] | | |Does the buyer need a lot of important information? | | | | | |[pic] | | | | |Is the buyer aware of the need for additional information? | | | | | | |[pic] | | | | |Is there anything that prevents your customer from taking your function in – house? | | | | | | |[pic] | | | | |Your customers are not highly sensitive to price. | |[pic] | | |Your product is unique to some degree or has accepted branding. |[pic] | | | | |Your customer’s business are profitable |[pic] | | | | |You provide incentives to the de cision makers. |[pic] | | | In this industry bargaining power of buyers is very low. This is due to low number of producer of glass compare to large number of buyers of glass. There are hardly four companies existing in this industry. PEST ANALYSIS P: As such, the politico legal system has not influenced the bargaining power of customers in this industry. Even in the turbulent times, the company has been successful in achieving sales targets and net income is continuously showing an upward trend. E: Economic conditions do not impact the bargaining power of buyer in this industry because the offerings of Ghani Glass are quite high in quality as compared to that of others. S: The float glass has become an indispensable element of modern infrastructure thereby; it has resulted in an increase in demand and decrease in bargaining power of buyers. T: The element of technology is very significant in glass industry and the processes involve high-tech machinery which makes superior glass. It can, therefore, be concluded that technology factor is lessening the buyers’ power. |C | |Yes |~ |No | | |Threat of Substitutes |(+) | |(–) | | |The industry is growing rapidly. | | | | | |[pic] | | | | |Industry is Not Cyclical with intermittent over capacity. | | |[pic] | | |The fixed costs of the business are a relatively low portion of total costs. | | |[pic] | | |There are significant product differences and brand identities between the competitors. | | | | | | |[pic] | | | | |The competitors are diversified rather than specialized. | |[pic] | | |It would not be hard to get out of this business because there are no specialized skills and | | |[pic] | | |facilities or long-term contract commitments, etc. | | | | | |My customers would incur significant costs in switching to a competitor. | | |[pic] | | |My product is comple x and requires a detailed understanding on the part of my customer. | | |[pic] | | |My competitors are all of approximately the same size as I am. | |[pic] | PEST ANALYSIS P: Political conditions of our country don’t hit the rivalry factor of this industry up to large extent. But when small players in the industry leave the business due to unrelenting political mayhems, big players like Ghani Glass take the advantage of a decrease in competition, direct or indirect. E: The GDP of our country is growing and so is per capita income. Glass is a commodity where consumption is dependent on income. As incomes of individuals and corporations tend to increase, the consumption of glass also increases. Glass is also used in bottling of soft drinks, medicines and automobile industry. The consumption of consumer goods also helps glass industry to endure economic slowdowns. S: Since the social factors are causing an increase in demand for glass, every player gets a chance cater certain segment of users. Thus it reduces the intensity of rivalry among the exiting competitors. T: Due to the enhancement in technology and emergence of internet, both domestic and corporate customers have easy access to different suppliers thus it is increasing the rivalry among the existing competitors. F | | | | | | |Critical Success Factors |Weight |Rating | | | | | |Weighted Score | |Opportunities |   |   |   | |Increasing demand of glass products |0. 20 |4 |0. 80 | |Forward integration (opening retail outlets) |0. 10 |3 |0. 30 | |Ability to grow rapidly because of sharply rising demand in |0. 15 |3 |0. 5 | |construction of business arcade (in which float glass is the main | | | | |ingredient) | | | | |Acquisition of small players such as Prince Glass which is |0. 15 |3 |0. 45 | |technologically well-equipped | | | | |Partnerships and joint ventures with regional conglomerates in |0. 05 |2 |0. 10 | |pursuit of globalization | | | | |Uprising demand of Float Glass in Afghanistan, Iran and Indian |0. 05 |1 |0. 05 | |markets. | | | |   | | | | | | | |   | |Threats | | | | |Gas Load Shedding |0. 10 |3 |0. 30 | |Emerging rivals such as Khawaja Glass |0. 0 |3 |0. 30 | |The emergence of substitute products such as aluminum and wood |0. 05 |2 |0. 10 | |Import of Chinese, Saudi, Belgium and Malaysian Float Glass |0. 05 |4 |0. 20 | | | | | | |TOTAL |1 | |3. 05 | INTERNAL FACTOR EVALUATION | |IFE MATRIX | | | | | | |Critical Success Factors |Weight |Rating | | | | | |Weighted Score | |Strengths |   |   |   | |1. Superior Technology than Rivals |0. 15 |4 |0. 60 | |2. Team Vigilance |0. 10 |3 |0. 20 | |3. Loyalty of employees |0. 15 |4 |0. 60 | |4. Ample financial resources to grow their business |0. 10 |3 |0. 30 | |5. Better product quality compared to rivals |0. 10 |4 |0. 40 | |6. A widely recognized brand |0. 05 |4 |0. 20 | |7. Strong distribution channels |0. 05 |3 |0. 15 | |  8. Dedicated human resource at managerial levels |0. 10 |3 |0. 0 | | | | |   | |Weaknesses | | | | |9. Weak R & D related to new product development |0. 10 |2 |0. 20 | |10. Lack of technically-sound labour |0. 05 |3 |0. 15 | |  11. Not upgraded training facilities for labor |0. 05 |1 |0. 5 | | | | | | |TOTAL |1 | |3. 15 | COMPETITIVE PROFILE MATRIX (CPM) | | |Ratings |Total |Ratings |Total | |Product Quality |0. 10 |4 |0. 40 |2 |0. 20 | |Technology |0. 10 |3 |0. 30 |2 |0. 20 | |Advertisement & Communication |0. 05 |3 |0. 15 |1 |0. 05 | |Financial Position |0. 15 |3 |0. 45 |3 |0. 45 | |Management |0. 10 |3 |0. 30 |3 |0. 30 | |Market share |0. 10 |4 |0. 40 |2 |0. 20 | |Competition |0. 10 |3 |0. 30 |1 |0. 10 | |Price Competitiveness |0. 10 |3 |0. 0 |2 |0. 20 | |Dedicated Human Resource |0. 10 |3 |0. 30 |3 |0. 30 | |Distribution Channels |0. 10 |3 |0. 30 |2 |0. 20 | |TOTAL |1 | |3. 20 | |2. 20 | Competitors Analysis Pharmaceutical Industry: Ghani Glass has a share of 88% in this industry. Float Glass Industry: Ghani Glass has a share of 75% in this industry. Food & Beverages Industry: Ghani Glass has a share of 88% in this industry. Major Customers: Leading national and multinational companies of Pakistan †¢ Construction companies – local and multinational †¢ Architectural and engineering companies †¢ Also being exported to over 12 countries KEY SUCCESS FACTORS UNMATCHED QUALITY: Ghani Glass is successful because of the quality it offers. In connivance wi th same, they charge a premium price and this results in high profit margins. Consequently, the company has more money to reinvest. STRONG DISTRIBUTION CHANNEL ALL OVER PAKISTAN: Ghani Glass has successfully formed a strong distribution network by giving better margins to distributors. SUPERIOR TECHNOLOGY: Ghani Glass uses the most advanced technology in the industry. The company installed its first state on the art plant in 1993. Later on, the company set-up first Float Glass manufacturing facility in 2003. Since then, they are constantly improving their technology and resultantly, they have been able to make quality oriented products and it helped them in becoming a trend setter and market leader. MARKETING STRATEGIES: Word of mouth is the most important tool which they have used for the promotion of their products. They have also used billboards and personnel selling tools to promote their products. In nutshell, they were able to position their product as the best in terms of quality through marketing strategy. This also increased their brand equity. SKILLED ENGINEERS HIRED FROM FOREIGN MARKETS: In Pakistan, the education level is backward that has led to lack of availability of skilled labour in the country. Also there is such institution in Pakistan that engineer can be trained to handle the technology. Therefore to overcome this hindrance they have hired employee mainly engineer from foreign market. As compare to their rival their engineer are more skillful and efficient. DEDICATED HUMAN RESOURCE & EMPLOYEES: Ghani Glass provides is staffs with three time meal that is breakfast, lunch and dinner free of cost. It means that they make sure their employee and labors are fit and healthy. It is due to their policy that their labor has become dedicated and hard working. Company makes sure that no labor or employee is ill-treated. They follow strictly the labor law which has made the labor and employee loyal to the company. Core Competencies: – Technology: The company is using superior technology as compared to others in market and it has helped them in retaining market leadership status. – Dedicated HR: The employees are extremely loyal and the company is using strategic tactics to retain their motivation level. For instance, there are no overtimes and each and every employee is given free meals throughout the day. – Product Innovation: Ghani Glass is leading the industry by innovating round the year and becoming pioneer in every segment of glass industry. Value Chain Financial Ratio Trends Financial Ratio Trends |Ratios |2009 |2008 |2007 |2006 |2005 | |Activity Ratio | | | | | | | | | | | | | |Inventory Turnover |6. 55 |6. 13 |5. 67 |4. 04 |2. 0 | | | | | | | | |Fixed Asset Turnover |1. 86 |1. 78 |1. 6 |1. 45 |2. 68 | | | | | | | | |Total Asset Turnover |1. 04 |0. 78 |0. 79 |0. 86 |1. 04 | Analysis Ghani Glass is the market leader of its industry. It is financially sound with increasing returns and stable inventory control. Following is an in depth analysis of Ghani Glass Ratios: LIQUIDITY RATIO Liquidity ratio examines the liquidity position of the company. This means, whether the company has enough liquid or cash or inventory to cope up with its short term liabilities and expenses. The current ratio FY2005 was 2. 9 which is very high. Ghani had a lot of liquid FY2005 which was idle and needed to be invested back in the company, and hence doing so GHANI reduces its current ration to 1. 98 FY2009 which is still very high, but it defines GHANI to be in a strong position with enough liquid to cope with short term liabilities. Quick Ratio describes whether the company is able to pay its short term liabilities without relying on its inventory. GHANI FY2009 has an adequate quick ratio of 1. 05, hence defining GHANI to be in a better position even if it runs short of inventory. Price to earning ratio, though has fallen very hard. It has fallen by 11. 06x in a year. It is due to the conditions that took place in KSE and instable political, economical , law and order situation. Profitability Ratio Ghani has been able to produce good profits and returns for its investors. Ghani has been able to maintain its Gross Profit Margin between 25-30% and Net profit Margin between 15-20%. This explains a balanced business operation that has been able Ghani to maintain this level of profits, despite deteriorating political and economic conditions. Return on Capital employed has been increasing since 2006. In 2006, the return on capital employed was 12. 06% but now has been increased to 25. 65% which is clearly overwhelming. It clearly shows that Ghani have been successful in producing excellent returns but every penny invested in the company by its investors. This proves Ghani to be a market leader and why Ghani is financially sound. Price to earning ratio, though ,has fallen very hard. It has fallen by 11. 06 xs in a year. It is due to the conditions that took place in KSE and instable political, economical, law and order situation. MATCHING STAGES THE Strategic Position and Action Evaluation (SPACE) Matrix The Strategic Position and Action Evaluation (SPACE) Matrix is another important Stage 2 matching tool of formulation framework. It explains that what is our strategic position and what possible action can be taken. It is not closed matrix. It is prepared on graph. It is closed matrix. This follow counter clock wise direction. It contains four-quadrant named aggressive, conservative, defensive, or competitive strategies. The axes of the SPACE Matrix represent two internal dimensions financial strength [FS] and competitive advantage [CA]) and two external dimensions (environmental stability [ES] and industry strength [IS]). These four factors are the most important determinants of an organization's overall strategic position. |Financial Strength (FS) |Rating | | | | |1. Return on investment |+4 | |2. Leverage |+3 | |3. Liquidity |+3 | |4. Cash Flow |+3 | Financial Strength: Ghani has a strong Financial Condition with increasing returns and has enough liquidity to cope with its short term liabilities. |Industry Strength (IS) |Rating | | | | |1. Growth Potential |+4 | |2. Profit Potential |+3 | |3. Technological know-how |+3 | |4. Financial Stability |+3 | Industry Strength The growth potential of the entire Glass industry has been on the higher side since the demand of glasses in households and offices had taken shape in our businesses and daily lives. Financial stability is quite positive in the industry as Ghani has been performing well along with its competitors who are located in the informal sector of the market. Technology is an important factor here as people get more and more aware of the new technologies coming in the market & their benefits the more they will demand it as influenced by the external as well as internal forces. Profit potential in the industry is quite high as population & demand are ever growing factor. Environmental Stability (ES) |Rating | | | | |1. Technological Changes |-2 | |2. Barriers to entry into market |-2 | |3. Competitive Pressure |-1 | |4. Price range of competing products |-3 | Environmental Stability Barriers to entry are low as Technology required for producing glass is very high. Competitive pressure is low du e to only 2 major companies in the Industry. Also price range of competing product is stable in the industry Competitive Advantage Ghani has excellent market share which accounts for 71% in the market. Ghani has a good product quality to cater to its audiences. The industry doesn’t necessary has customer loyalty and any customer would be looking for good quality affordable glass irrespective of the producer of the glass. |Competitive Advantage (CA) |Rating | |1. Market Share |-1 | |2. Product Quality |-2 | |3. Customer Loyalty |-3 | |4. Technological know how |-1 | SPACE MATRIX RESULT |x-axis: 5 + -2 = 3 | |y-axis: 6 + -3. 25 = 2. 75 | 4 | | | | | | | | | | | | | | | |   | | | | | | | |   | | | | |POSITION |   |   |   |   |   |   |COMPETITIVE | | | | | |   | | | | | | | |   | | | | | | | | | | | | |IV |V |VI | | | | | |VII |VIII |IX | [pic] 3 to 4 [pic] 2 to 2. 99 [pic] 1 to 1. 99 |STRENGTH |WEAKNESSES | | |Superior Technology than competitor. |Weak R&D related to new product development | | |Team Vigilant |Lack of Abundant quantity of quality labor | | |Skilled and abreast with knowledge employers|Not upgraded training facilities for Labor | | |Ample financial resources to reinvest and | | | |grow their business. | | |Better product quality relative to rivals | | | |A Widely recognize market leader | | | |Strong Distribution channel | | | |Dedicated Human resources | | |OPPORTUNITIES | Strengths-Opportunities SO |Weakness-Opportunities WO | |Increasing demand of glass products | |With increasing demand of glass products, | | |With superior technology, better skilled |Ghani glass should improve its research and | |Forward integration (opening retail outlets) |employees and increasing demand of glass, |development department. (W1 O1) | | |Ghani Glass can pursue product development | | |Ability to grow rapidly because of sharply |by producing products such as bowls and |Partnering and ventures with regional | |rising demand in construction of business |glass crockery. (O1 S1 S3 S4) |conglomerates will bring in skilled labor. |arcade in which float glass is the main |Ghani should export glass to Afghanistan (S4|(O5 W2) | |ingredient |O6) | | |Acquisition of small players such as Prince |Ghani should install plant in Iran (S4 O6) | | |Glass which is technologically | | | | | | | | | | | | | | | | | | | | | | | | | | | | |With ample financial resources, Ghani Glass | | |well-equipped |can acquire small businesses in the | | |Partnerships and joint ventures with regional|industry. (O4 S4) | | |conglomerates in pursuit of globalization | | | |Uprising demand in Afghanistan and Iran | | | |markets. | | |THREATS |Strengths-Threats ST |Weakness-Threats WT | |Gas Load Shedding |Increase trade promotion as a proactive |Ghani R&D should produce new products to | |Emerging rivals such as Khawaja Glass |measure to silent emerging rivals. (S4 S5 S6|compete with emerging rivals like Khawaja | |The emergence of substitute products such as |T2) |Glass. (W1 T2) | |aluminum and wood |Negotiate with the Government to receive | | |Importing of glass from China, Saudi Arab, |exemption in Gas Load Shedding. T2 O6) | | |Malaysia a nd Belgium | | | | | | | | | | | | | | | | | | | | | | | | | | | From the I-E Matrix it can be concluded that Ghani Glass is internally very strong with the IFE of 3. 15 and EFE weighted score of 3. 05 which means that it lies on the first quadrant of the I-E matrix. Company lying on the first quadrant of the matrix are suppose to adopt aggressive strategy. Company which lies on Quadrant I,II or IV are suppose to grow and build. Here Ghani Glass lies in First Quadrant so it should Grow and build its market which means it has to adopt aggressive strategy such as forward integration, Market penetration or product development. IMPLEMENTATION STAGE Q S P M | |Key Success Factors |Weight |Market Develop. In Iran & |Product Development (Glass | | | |Afghanistan |Crockery) | | |AS | | |TAS | | | |TAS |AS | | |Opportunities | | | | | | |Increasing demand of glass products |0. 0 | | | | | | | |4 |0. 80 | |0. 60 | | | | | |3 | | |Forward integration (opening retail |0. 10 | | | | | |outlets) | |- |- |1 | | | | | | | |0. 0 | |Ability to grow rapidly because of sharply | | | | | | |rising demand in construction of business | | | | | | |arcade in which float glass is the main | | | | | | |ingredient | | | | | | | | | | | | | | | |3 |0. 5 | | | |Acquisition of small players such as Prince|0. 15 | | | | | |Glass which is technologically | | | | | | |well-equipped | | | | | | | | |3 |0. 45 |3 |0. 45 | |Partnerships and joint ventures with |0. 05 | 2 |0. 10 |2 |0. 10 | |regional conglomerates in pursuit of | | | | | |globalization | | | | | | |Uprising demand of Float Glass in |0. 05 | | | | | |Afghanistan and Iran markets. | | | |3 | | | | |2 |0. 10 | |0. 15 | |   | | | | | | |Threats | | | | | | |Gas Load Shedding |0. 0 | | | | | | | |- |- | | | |Emerging rivals such as Khawaja Glass |0. 10 | | |2 | | | | | | | |0. 20 | |The emergence of substitute products such |0. 05 |- |- |- |- | |as aluminum and wood | | | | | | |Import of Chinese, Saudi, Belgium made and |0. 05 | 3 | 0. 15 |3 |0. 5 | |Malaysian Float Glass | | | | | | | | | | | | | |TOTAL |1 | | | | | | | |Strengths | | | | | | |1. Superior Technology than Rivals |0. 15 |3 |0. 45 | | | |2. Team Vigilant |0. 10 |- | | | | |3. Skilled and abreast with knowledge |0. 15 |3 |0. 45 | | | |employers | | | | | | |4. Ample financial resources to grow their |0. 10 |3 |0. 0 | | | |business | | | | | | |5. Better product quality relative to |0. 10 |- | |2 |0. 20 | |rivals | | | | | | |6. A Widely recognize market leader |0. 05 |3 |0. 15 |3 |0. 15 | |7. Strong Distribution channel |0. 05 |2 |0. 10 |3 |0. 15 | |8. Dedicated Human resource |0. 10 |3 |0. 30 |2 |0. 0 | |Weaknesses | | | | | | |9. Weak R&D related to new product |0. 10 |- | |1 |0. 10 | |development | | | | | | |10. Lack of Abundant quantity of quality |0. 05 |1 |0. 05 |- | | |labor | | | | | | |11. Not upgraded training facilities for |0. 5 |- | |- | | |Labor | | | | | | | | | | | | | |TOTAL |1 | |3. 60 | |2. 35 | Interpretation of QSMP After tho roughly analyzing the QSPM scores, it can be concluded that the Market Development in Afghanistan and Iran is much more feasible rather than opting for product development. The pitfall in applying this strategy can the cultural mismatch in the organization. Balanced Business Scorecard | | | [pic][pic][pic][pic][pic][pic][pic][pic][pic][pic] ———————– [1] Fred R. David, Strategic Management Concept and Cases 12th Edition. p. 4 2 Johnson and Scholes, Planning and Strategic Management, 1999. p. 10 [2] Fred R. David, Strategic Management 12th edition p. 11 [3] Thompson, Strategic Management 13th edition p. 40 5 Fred R. David, Strategic Management 12th edition p. 11 6 Mintzberg [4] Strategic Management by Thompson, 13th edition p. 80 [5] Strategic Management by Fred R. David 12th edition p. 73 [6] Strategic Management by Fred R. David 12th Edition p. 104 [7] Creating and sustaining superior performance by Michael E. Porter Free Press, 1998 (1985) ———————– 10 2 1 3 1 10 4 10 1 2 10 1 3 10 1 [pic] Objective 1. Continuous training and development 2 Organizational cultures which encourages change and development. Measure Create a supportive work environment & corporate culture. Target 1. Increased one-to one contact at all levels; 2. Real time communication. 3. Collective decision making Initiative 1. Empowerment. 2. Restructuring of Human Resource department and policies. Learning & Growth Initiative Simplify procedures and streamline workflows. Target More strategic acquisitions of small players Measure Engineering efficiency, continuous technology adoption Objective To bring continuous improvement in business processes and reduce costs Internal Processes Objective To strengthen relationship with customers. Measure Number of co-operative efforts Target Maximum customer participation and involvement Initiative Increase focus on check-in services. Customer Objective Increasing profit by 3% in F. Y 2010 Initiative Trade promotions locally and internationally Target Retain Market Domination Measure Strive for an incline in Sales Revenue Financial TOWS Matrix AMMa