Corporate Governance Mechanism Essay

Executive Summary This paper will reviews the extent to which corporate governance acts as efficient tool to protect investors against corporate fraud, thus contributing to summarize the literatures on role of corporate governance on preventing occurrence of corporate fraud. In a more recent study, corporate fraud is part of earnings manipulation done outside the law and standards. Whereas, the activities covered by the terms earnings management (such as income smoothing and big bath) and creative accounting (or window dressing) normally remain within the regulations. In this regard, corporate governance mechanism, particularly effective boards, audit committees, and auditors, decrease the likelihood of corporate fraud occurs. At very last contemplation, vigilant structure within corporation as holding stakeholders interests with shift in ethics and values will likely stop greedy executives to take personal advantages. Keywords: Corporate fraud, earnings management, corporate governance, board effectiveness, audit committee effectiveness and auditor effectiveness. 1. Introduction There are a number of legal cases involving the accounting manipulation in leading companies in the United States of America (USA) and also other countries, such as Enron and WorldCom in USA, and HIH Insurance and One.Tel in Australia. These have led investors, regulators, and academics to focus on improving dimension of corporate governance to unveil that unethical financial reporting practice. Scholars commonly attribute that poor corporate governance in such companies caused their earnings manipulation. For instance, Lavelle (2002) asserts that Enron’s bankruptcy was caused by the audit committee’s lack of independence, which determined from poor governance, which is part of corporate governance mechanism. This paper will reviews the extent to which corporate governance acts as efficient tool to protect investors against corporate fraud, thus contributing to summarize the literatures on role of corporate governance on preventing occurrence of corporate fraud. In addition, from the practical point of view, this paper is expected to provide information on how board and audit committee, auditor and regulator indicate and anticipate which firm’s corporate governance mechanism that cause the likelihood to fail to prevent commit corporate fraud and loose stakeholders. In general discussion, corporate governance mechanism assures a crucial role in improving the efficiency of capital market through its impact on corporate operating efficiency and effectiveness, sustainable growth, and integrity and quality of financial report. Blue Ribbon Committee (1999) asserts good governance promotes relationship of accountability among primary corporation participants to enhance corporate performance. This mechanism holds management accountable to the board and the board accountable to stockholders. The key element of board oversight is working with corporation management to achieve corporate legal and ethical compliance. Board oversight mechanism can be taken in place to deter fraud, anticipate financial risk, and promote high quality, accurate, and timely disclosure to the board, to the public market and to the shareholders. This paper is organized as follows. In the next section, it will be presented the literature review regarding the corporate fraud and earnings management. It is continued by discussing the effectiveness of board oversight and audit committee, role of external auditor and closing thoughts at curbing fraud. 2. Fraud and Earnings Management In this section, it will be distinguished between corporate frauds from earnings management. Existing literatures seem no clear agreement on differentiating both those two event in corporate reporting. 2.1 What is Corporate Fraud? In the beginning of 2000s, US investors has been hit by intentionally falsify of financial reporting in the biggest and prominent public company. The companies such as Enron, Worldcom, HIH Insurance and One.Tel, to name but a few, has perpetrated and resulted a monumental losses for the investing public. For instance, Enron that recorded as the seventh largest corporation by its market capitalization in US, averaging $90 per share and worth US$70 billion in 2000, was suddenly collapsed in late 2001. Morrison (2004) asserts that the cause of the collapse is the largest corporate fraud and audit failure. Then, it can be understood that the massive corporate fraud caused by fraudulent financial reporting have contributed to a very sharp decline in the US stock market. Many of these corporate scandals include such as action of account manipulation, earnings management, restatement and other failing to report the significant events to investing public. Then, what corporate fraud does really mean? One of the answers, corporate fraud is defined as an intentional or reckless conduct, whether by act or omission, that results in materially misleading financial statements (National Comission on Fraudulent Financial Reporting of the United States, 1987). Many prior studies (Persons, 2006; BÃ ©dard, Chtourou & Courteau 2004; Uzun, Szewczyk & Varma, 2004; Abbott, Parker & Peters, 2000; Beasley, 1996) have found that corporate fraud generally involves the accounting irregularities notion, such as: * Manipulation, falsification or alteration of accounting records or supporting documents from which financial statements are prepared. * Misrepresentation in or intentional omission from, the financial statements of events, transactions, or other significant information. * Misapplication of accounting principles relating to amounts, classification, manner of presentation, or disclosure. Stolowy and Breton (2004) proposed the framework to understand the classification of account manipulation. They classify the manipulation that is outside the law and standards constitutes as fraud (known as corporate fraud, financial fraud, and accounting irregularities, interchangeability). Whereas, the activities covered by the terms earnings management (such as income smoothing and big bath) and creative accounting (or window dressing) normally remain within the regulations. Figure 1 presents that framework for understanding account manipulation (adopted from Stolowy and Breton 2004). Figure 1 Framework for Understanding Account Manipulation Fraud, in large extent, occurs when somebody commits an illegal act. In accounting notion, for example, fabricating false invoice to increase revenue number is fraud, while interpreting consignment sales as ordinary sales is errors. This different sometime does not clear to everyone, particularly who does not really understand how accounting treatment is. In short, it can be conclude that fraud exists when the account manipulation done outside the limit of the regulations (law and standards). 2.2 Earnings Management It is always hard to frame a useful definition to such a broad subject ‘earnings management’. Account manipulation done within law and standard is categorized into earnings management and creative accounting. The objective of this type account manipulation is to alter the wealth transfer mechanism: earnings per share (EPS on income statement side) and debt to equity ratio (balance sheet side). Based on figure 1, earnings management is a reporting activity done by manipulating the income statement into two ways: first, by presenting item before or after the profit used to calculate EPS and second, by removing or adding particular revenues or expenses (modification of total net income). In addition, ‘creative accounting’ term has been developed mainly by practitioners and commentators on market activity. The chartist concern comes from observing the market, not from any fundamental analysis. Windows dressing activities are done by manipulating structural risk to influence the level of firm’s debt to equity ratio. For example, interpretation at off balance sheet transaction such as leasing. Earnings management can be beneficial, neutral, and pernicious (Ronen & Yaari 2006). It is beneficial since it signals long term value. Managers take advantage of flexibility in the choice of accounting methods to signal internal information on future company’s cash flows. Then, it can be neutral when it reveals short-term true firm value. Managers can chose the accounting treatment either economically efficient or opportunistic behaviours. On the contrary, it is pernicious since it conceals short- or long term performance. This practice usually involves tricks to mislead or reduce the transparency of the financial information. Since the last decade, US Securities and Exchange Commission (SEC) had stated its concern about earnings management (Levitt 1998) and other scholar wonders the condition of the audit committees’ incapacity to deal with earning management which using accounting tricks to camouflage a firm’s true operating performance (Warrick 1999). As account manipulation is done outside law and standards, indeed it constitutes fraudulent financial reporting (Stolowy & Breton 2004). In this regard, scholars commonly find association between less fraudulent financial reporting and good corporate governance mechanism (Beasley 1996; Abbott, Parker and Peters 2000). 3. Governance Mechanism in Preventing Fraud In this section, it will be reviewed role of corporate governance in describing and preventing such as occurrence of corporate fraud. A vast number of previous literature reveal that company in default (fraud) have less effective boards, audit committees, and external auditors. 3.1. Board and Audit Committee Oversight Effectiveness The board of directors and its audit committee play a prominent role in corporate governance particularly in controlling top management. Back in 1983, Fama and Jansen argue that the board as a corporation’s highest level of control mechanism with ultimate responsibility over the way company is run. The literature review on fraudulent financial statement, restatement and financial reporting quality commonly indicates that characteristic and composition of the board do influence its effectiveness. A vast number of study examining proxies for the board’s power, independence and competence by: * The presence of financial expert; this characteristic of boardroom prevent the accounting fraud and minimize their seriousness (Farber 2005). * Proportion of independence directors on the board; the percentage of independent directors in fraudulent firms is likely to be smaller than in compliant firm. In the same way, the presence of non-affiliated block holder on the board will be negatively associated with the level of non-compliance of accounting manipulation outside law and regulation (fraud) (Beasley 1996, Beasley et al. 2000 and Abbott et al. 2004). * The number of seats directors; board size increases the likelihood of corporate fraud increases. The rational of this finding is a smaller board provide more of controlling function than do a larger board (Beasley 1996 and Jensen 1993). * Low board of director tenure; when turnover is high, so there will be a few employees (senior staff) who are still work with the company can memorize the corporation’s fraudulent activity. Few new employees are likely to join the line of power elite and therefore it will more foster insider power (senior staff) to institutionalize their position of power within corporation (Dunn 2004). * Separation of the CEO position and chairman of the board. Dunn (2004) argues that structural power, when managers also sit as key person in the board negates the advantages of a division of labour and can lead to adverse corporation outcomes. These above characteristics show that excessive power of board, percentage of unrelated directors and presence of financial experts will likely determine the level of company’s compliance with law and regulations. Indeed, this governance mechanism has been incorporated into corporate governance guideline in some prominent organisation and regulators (OECD 2004 and ASX 2008). For instance, in second edition ASX under principle 2 ‘the structure the board to add value’ requires that ‘the roles of chair and chief executive officer should not be exercised by the same individual’. In some extent this empirical finding has been taken into account by some market self regulatory such as ASX. It is important to note that audit committee effectiveness is negatively associated with the occurrence of corporate fraud (Farber 2005; Abbott et al 2004; and Agrawal and Chadha 2005). Its committee’s effectiveness commonly is measured by number of outside directors and number of financial expert on firm audit committee. In addition, ASX 2008 states the importance of independence and competence of audit committee. International practice is moving towards an audit committee only comprised of independent directors. Regarding technical expertise, audit committee should include members who are all financially literate (able to read and understand financial statements), which at least one have accounting qualification and one who understand the industry practise which corporation operates. 3.2. Auditor Effectiveness Many previous studies argue that external auditor plays a crucial role in preventing and detecting accounting fraud (Farber 2005, Piot and Janin 2005, Myers et al. 2003, and Johnson et al. (2002). Farber (2005) finds that firms audited by one of Big 4 (PricewaterhouseCoopers, Ernst & Young, KPMG and Deloitte Touche Tohmatsu) are less often announcing fraudulent financial reporting compared to firms audited by non Big 4. Moreover, Piot and Janin (2005) states that the occurrence of restatement (low level of fraudulent financial reporting) is often proceeded by a change of external auditor. Then, it may be considered that auditor effectiveness can be measured by engaging Big 4 as external auditor and no suddenly change of auditor before their rotation period. In addition, there is debate over the benefit of rotation period. Myer et al. (2003) find that longer auditor tenure constrains management’s discretion with accounting accruals, which suggests high audit quality. This is consistent with Johnson et al. (2002) that also find accruals are larger and less persistent for firms with short auditor tenure relative to those with medium or long tenure. They argue that longer tenure can improve auditor expertise from superior client-specific knowledge. However, proponent of mandatory auditor rotation argues that lengthy auditor tenure erodes independence, which in turn impairs audit quality. Since independence is an abstract thing, regulators, practitioners, and academics often rely on the appearance dimension to operationalize the auditor independence (Dupuch et al. 2003). In common sense, auditor will be perceived less independence when provide such material amount of particular kinds of non-audit service to audit clients. Ladakis (2005) describes that in the year of 2000 alone, Enron as detected fraudulent corporation paid Andersen audit fees of US$25 million, and non-audit fees of US$27 million. 4. Closing Thoughts There are so many regulatory efforts aiming to curb corporate fraud and any other accounting irregularities within company, then people will find inconclusive answer that all regulation is not enough to deter the fraud in the future. Dishonest people inside corporation will insist to commit fraud and other type of crimes within or outside standards and regulations. Those who have no commitment to firms and society may always find a way to do fraud for personal advantages. They will override the regulations in even new creative practice to hide theft. Then, last hope to stop this is only good structure as holding between economic and social goal, individual and communal goal incorporated with shift in ethics and value. People must always remember that greedy executive who wants to acquire the personal benefit cannot be stopped by even best controls and regulations. Companies would be perform better by addressing the fraud issues specific to their own firm, and then developing an ethical corporate values that will hold them well in the long run. Corporate governance compliance within company and proactive fraud prevention effort by professional can decrease the corporation’s likelihood of being victimized by fraud. 5. List of References ABBOTT, L., PARK, Y. & PARKER, S. (2000) The Effect of Audit Committee Activity and Independence on Corporate Fraud. Managerial Finance, 26, 55-67. ABBOTT, L., PARKER, S. & PETER, G. (2004) Audit Committee Characteristics and Restatements. Auditing: A Journal of Practice and Theory, 23, 69-87. AGRAWAL, A. & CHADHA, S. (2005) Corporate Governance and Accounting Scandals. Journal of Law and Economics, 48, 371-390. AUSTRALIAN SECURITIES EXCHANGE (2008) Corporate Governance Principles and Recommendations. ASX Corporate Governance Council, 2nd Edition. BEASLEY, M. S. (1996) An Empirical Analysis of the Rotation Between the Board of Director Composition and Financial Statement Fraud. Accounting Review, 71, 443-465. BEASLEY, M. S., CARCELLO, J. V., HERMANSON, D. R. & LAPIDES, P. D. (2000) Fraudulent Financial Reporting: Consideration of Industry Traits and Corporate Governance Mechanisms. Accounting Horizons, 14, 441-454. BÉDARD, J., CHTOUROU, S. M. & COURTEAU, L. (2004) The Effect of Audit Committee Expertise, Independence, and Activity on Aggressive Earnings Management. Auditing, 23 (2), 13-35 BLUE RIBBON COMMITTEE (1999) Report and Recommendations of the Blue Ribbon Committee on Improving the Effectiveness of Corporate Audit Committees, New York: New York Stock Exchange and National Association of Securities Dealers. DUNN, P. (2004) The Impact of Insider Power on Fraudulent Financial Reporting. Journal of Management, 30, 397-412. DOPUCH, N., R. R. KING, AND R. SCHWARTZ. (2003) Independence in Appearance and in Fact: An empirical investigation. Contemporary Accounting Research 65, 83-113. FAMA, E. F. & JENSEN, M. C. (1983) Agency Problems and Residual Claims. The Journal of Law and Economics, 26, 327. FARBER, D. B. (2005) Restoring Trust After Fraud: Does Corporate Governance Matter? The Accounting Review, 80, 539-561. JENSEN, M.C. (1993) The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems. The Journal of Finance, 48, 831-880. JOHNSON, V. E., KHURANA, I.K., & REYNOLDS, J.K. (2002) Audit-Firm Tenure and the Quality of Financial Reports. Contemporary Accounting Research, Winter, 637-660. LADAKIS, E. (2005) The Auditor as Gatekeeper for the Investing Public: Auditor Independence and the CLERP Reforms – a Comparative Analysis. Company and Securities Law Journal, 23. LAVALLE, L. (2002) Enron: How Governance Rules Failed. Business Week, 3766, 28-29. LEVITT, A. (1998) The Number Game. Address to NYU Centre for Law and Business, September 28. MORRISON, J. (2004) Legislating For Good Corporate Governance: Do We Expect Too Much? The Journal of Corporate Citizenship, 121(13). MYERS, J., MYERS, L. & OMER, T. (2003) Exploring the Term of Auditor-Client Relationship and the Quality of Earnings: A Case for Mandatory Auditor Rotation? The Accounting Review, 78 (3), 779-799. ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT (2004) OECD Principles of Corporate Governance. PERSONS, O.S. (2006) Corporate Governance and Non-Financial Reporting Fraud. The Journal of Business and Economic Studies,12 (1), 27-40. PIOT, C. & JANIN, R. (2005) Audit Quality and Earnings Management in France. SSRN eLibrary. RONEN, J. & YAARI, V. (2006) Earnings Management: Emerging Insight in Theory, Practice, and Research. Springer. STOLOWY, H. & BRETON, G. (2004) Accounts Manipulation: A Literature Review And Proposed Conceptual Framework. The Review of Accounting and Finance, 3, 5-65. UZUN, H., SZEWCZYK, S. H. & VARMA, R. (2004) Board Composition and Corporate Fraud. Financial Analysts Journal, 60 (3), 33-43. WARRICK, W. W. (1999) Post-Blue Ribbon Committee thoughts on developing the audit committee’s charter and annual report. Directorship, 25, 6.

Conflicts Are Important Worksheet Essay

1. Pseudo conflicts: A pseudo conflict is where two people are arguing on the same thing only because of their own misunderstandings and misperceptions of what the other person is saying they are arguing on the same side without realizing. In truth they are arguing for the same side they just can’t realize it because of their own misconceptions. A pseudo conflict can be easily resolved by people just understanding one another better. 2. Fact conflicts: Fact conflicts are caused by being misinformed, not having enough information to make good decisions and determining what data is relevant. Conflict can also arise when there is disagreement on information collection and communication. 3. Ego conflicts: An ego conflict is where one person goes around picking on and teasing everyone else. They think that they are better than them in every way shape or form, these conflicts can easily be avoided by not thinking your better than everyone else. Everyone is equal whether they like it or not. No one is better than anyone else. It just happens that some people think they are better than other people and so ego conflicts arise. 4. Value conflicts: Value conflicts arise from two different people or groups with different views on something, Such as world views. Or a common one is two groups with different views on good and bad. One group may be stricter than the other on what’s good and what’s bad, it will then clash with the other group who is less strict. 5. Need conflicts: A need conflict arises when someone starts acting so that they can get one need and it is contradictory to how they need to act to get another need and it presents a major conflict. This conflict can be resolved by getting both needs one at a time but humans by nature want all needs at once and this makes a conflict. Part 2: The Five Conflict Management Styles Describe each of the five conflict management styles and explain the strengths and weaknesses of each. Use paragraph form. 1. Avoiders: The avoider style of managing is not actually thought as a management style at all by many but it reality it is. It arises when someone runs from a conflict or ignores it. Someone may use the avoider style out of outright fear or sometimes many other concerns that can come from an unresolved conflict. With the avoider style it doesn’t solve anything and very often makes things worse the people do not understand why the avoider refuses to face the conflict at hand and the avoider cannot understand the problem or the other side’s views. 2. Accommodators: The Accommodator is much the same as the avoiders only slightly different in the way that he just agrees to everything, avoids solving the actual problem to placate the other side. If forced to face the problem an accommodator will back off and just follow in the footsteps dictated by the other side, they will be in total denial of any personal needs in favor of meeting the other sides personal desires. The unfortunate downfall of this solution is that problems continue or grow worse or new problems may arise from it. Imagine a mother who gives her daughter whatever she wants whenever she wants simply to keep conflicts from arising. Yes it stops her daughter from whining and complaining. 3. Forcers: The very opposite of an accommodator would be a forcers also known as the competitor. With the forcer they drive to win the argument/battle at all costs even if it means ending a relationship. The competition style can be healthy when it is focused solely on the issue at hand and not on the people around the issue. Such as when someone starts in on each other it can be friendly banter until someone’s mother is brought into it. Fights between two people often happen during the forcers style but never is it healthy. 4. Compromisers: With the compromiser style it is used to try and meet some of the demands of both sides. Unfortunately with this style everyone wins a little but also they lose a little. Like with two teenagers fighting over the remote to a TV the mother comes in and takes away the remote all together. It resolves the situation but no one is happy with it. It leaves the solution gone but no one happy. People who use compromise are actually making a lazy halfhearted attempt at collaboration. 5. Collaborators: With the collaborating style it gets all parties in the conflict together to come up with a peaceful solution that leaves each party happy. In this type everyone is heard, everyone is happy, and above all relationships are preserved, whether they are relationships between a man and a woman or a relationship between friends or business people. The collaborative style takes a while to plan and execute. While the problem may become worse as time goes on it always leaves everyone happy. Part 3: Collaborative Communication List two methods of collaborative communication and describe how using them can help you avoid conflicts. Two methods of collaboration communication are Boards and Huddles. With Boards it’s good to have something for the all to see besides hand out’s when you have the group all together. That is where white boards or chalk boards come in major handy. That way you can right now main ideas and topics for all to see. This will help stop conflicts because everyone is seeing the same thing so they can’t say that their not or say that some are getting more details then they are. The second method is called huddles. Huddles means when you get your group together to brainstorm or think about something make it small little focused groups. Having it in small focused groups will cut down on misunderstandings and confusion which will then help you prosper and fewer arguments may break out.

Fundementals of computers Essay Example | Topics and Well Written Essays - 750 words

Fundementals of computers - Essay Example The very aspect to frame the problem domain into effective planning is the key element one learns for fetching the large project scenario. The critical aspects of planning and designing the definite and thoughtful steps would make sure to widen ones thinking skills to bring an ability to predict an event before it actually occurs. The decision making abilities are promoted to a large extent as one needs to make crucial decisions with regard to the right methodology to solve a problem with an algorithm and reduce complexity at every cost. The knowledge would facilitate even further in understanding the computer science subject as a whole to design the various mechanisms to handle the computers activity domain and its intelligence in handling the various resources required. The knowledge of operating systems would help one to understand the various dependencies of the programs and the amount of integration achieved by computer science. It also helps one to learn the various platform issues the computer hardware and software requires binding itself for the running of application programs. The knowledge of operating systems helps one to understand the difference between the large programs and ancillary programs of a computer system. The large programs accommodate the working of aligned programs and one gets to visualize and grasp knowledge of the successful aggregation of such programs for achieving the objective. The knowledge of ancillary programs would make sure that the various integrations of the programs are handled well. The focus is on high penetration of thought process in framing better problem domain and solving abilities. The database systems are a branch of computer science that facilitates the knowledge to transform the storage of raw data into a retrieval format. It transforms ones knowledge to learn the use of data, to understand the various data structures involved, to measure up the definitions of

Micro Economics Essay Example | Topics and Well Written Essays - 1000 words - 5

Micro Economics - Essay Example According to the Pareto principle social welfare definitely augments only if the benefit of any member of society increases and the welfare of no one falls. Actually when the Pareto criterion is strictly spoken it can be considered as simply an aggregation and decision rule and which could be enforced to non-utility. In reality the original distribution of income and wealth is generally taken as if it is given and alterations in either income or wealth cannot be measured beyond the need of changes themselves satisfy the Pareto criterion. The possible Pareto criterion, involving the gains associated to some alteration to outbalance the losses induced by it, is a less protective criterion. The Pareto principle by itself does not affirm the conclusion that any alteration from a non-Pareto-optimal position to a Pareto-optimum is an improvement. For this, economists rely on the compensation principle. On the other hand this principle itself can be questioned. Economists actually stress that the compensation required in demonstrating a potential Pareto improvement should be handled as hypothetical. But, now the issue is with regard to what is this potential Pareto improvement (PPI)? The potentiality of the principle is regarded as immaterial for its being an improvement? Many economists attempt to instill a PPI with some quasi-physical meaning. They indicate that a PPI, though not the same to an increment in social welfare, nonetheless still establishes an increase in the dimension of the cake from which welfare is deduced, or the capability of the oven in which the cake is baked. These economists state that a positive result of the compensation test depicts an increase in aggregate real income (Kaldor 1939: 550, 551). At the same time economists like Chipman (1987, pp. 524- 530); Kaldor (1939, p. 550), believe in the productive potential of the economy and Boadway and Bruce (1984, p. 97), Hennipman (1976, p. 476); Hicks (1981,

Teenage Pregnancy Essay Example | Topics and Well Written Essays - 500 words

Teenage Pregnancy - Essay Example But it happened again two days later. It was Sunday and Sonakshi had not even stepped out of home since morning. She had only eaten the porridge Mumta poured into her plate in the breakfast. Her exams had been over for two days and she had not even opened any book since then. Her dizziness and vomiting could not be associated with any eating disorder. Mumta was worried more than ever before. She took her to a doctor, and after a couple of tests, she was declared pregnant. That was the doom’s day for Mumta and Mithlesh. Their 15 year old daughter had been in a physical relationship with John Good, the boy next door for the last four months. They could not hurt her against the law, though they so wished they had been in India where they could ferociously beat their daughter. Mumta could not bear it and poisoned herself to death. Having lost the wife and the love for his daughter, Mithlesh got extremely depressed. What worried Mithlesh more than everything was that Sonakshi had n ot respected the cultural traditions of India, according to which, girls do not fornicate outside marriage. He thought it did not matter in USA, but it would certainly not be approved of in India. So he thought about marrying his daughter to John. He explained the whole scenario to John’s parents, Martha Good and Andrew Good who were pure Americans.

Project Management Essay Example | Topics and Well Written Essays - 250 words - 10

Project Management - Essay Example The wildly important in the front row in mind is establishing an insurance company. Insurance company is an institution that focusses on insuring people on losses or damages. However, one can also insure himself or herself for any damage to oneself. It can be either death insurance or accident insurance. The insurance company will have other programs to help the needy. Hence, apart from insurance services, the company will have to work with institutions that have programs to help the needy. There are many options of who I would want to be in the future. Every person has a dream to be someone or somebody later. I prefer to be a great entrepreneur. An entrepreneur is an individual who identifies a business opportunity and gathers necessary goods and services to establish a business. Great people in the world have their dignity earned through their exceptional entrepreneurial skills. For example, Bill Gates, Edward Buffett and Carlos Slim gain their publicity due to the great entrepreneurship skills they have. Project management is the process of controlling certain activities that are essential towards achieving individual set goals. Project management is essential in aiding achievement of objectives. It gives a clear outline of how to carry out work to achieve the set objective. However, project management aids in avoiding time wastage, misuse of resources and helps in analyzing SWOT analysis. It is vital to have a goal in life. It helps in avoiding unnecessary activities. Project management is essential in helping achieve set goals. A goal is in association with a plan. Hence, failing to have a plan is planning to

To what degree should the Decalogue ( Ten Commandments ) be followed Essay

To what degree should the Decalogue ( Ten Commandments ) be followed by Amer. Christians - Essay Example ommandments impose certain spiritual and moral obligations upon the believers – as well as to arrive at the conclusion whether or not they still should guide a life of the New Testament Christians in modern America. The Exodus presents Ten Commandments as instructions by the God to His chosen people, the people of Israel, which they should follow due to the fact that God â€Å"brought [them] out of Egypt, out of land slavery† (Exodus The New International Version 20:2). These Commandments may be viewed as covering several inter-relating areas of concern: The worship of One God (Exodus The New International Version 20:3-7). The issues that are addressed here include the prohibition of veneration of images of bodies both earthly and heavenly (20:4-6), of the misuse of the Divine Name in public and private conversations (20:7), and maintenance of the Sabbath as the holy day reminding the believers of the rest taken by God on the seventh day of the Creation; The issues of public law and order (Exodus The New International Version 20:13-17). These include such Commandments as the prohibition of murder (20:13), adultery (20:14), robbery and theft (20:15), false testimony (20:16), as well as the desire towards the other’s property in general (20:17). In Deuteronomy, some further clarifications on this matter are given, with Moses emphasizing the prophetic and divine nature of his act of receiving of the tablets with Commandments (Deuteronomy 5:22 The New International Version). Moses reiterates the Commandments, while the text of Deuteronomy places still further emphasis on God delivering the Israelites from the Egyptian slavery as the reason they should be grateful to Him, and observe His Commandments (Arnold & Beyer, 2008, p.143). Having analyzed the Commandments and the act of their giving, one should now review the attitude that the New Testament Christians should exhibit towards them. The nature of the majority of the Commandments is such that they are

Management Case Study Example | Topics and Well Written Essays - 1750 words

Management - Case Study Example The reason Nike Inc. has succeeded is underpinned by a myriad of factors, as shall be seen in the discussion which ensues forthwith. One of the factors that has guided Nike Inc. into success is its radical mission which currently is to lead in corporate citizenship and life, through proactive programmes that are reflective of care for the world family of Nike Inc. family, its teammates, consumers and those extend services to Nike Inc. In a closely related wavelength, Nike enjoys its chief position in corporate performance because of its objectives. Presently, Nike Inc.’s objective is to keep the cost of manufacturing down through intense competition of the industry in which Nike operates. The feasibility of this objective is underscored by the fact that many other companies that are in athletics industry use the cost of investments and operations in countries before going to a foreign market. Nike Inc.’s strategy has also helped propound it into the world’s leading sports business brand. Particularly, Nike Inc. has used partnering in import-export trade. This is seen in the instance where Nike entered into partnership with Onitsuka Tiger in 1964, to help it import Onitsuka Tiger running shoes in Japan. It is for this reason that as the 1970s came to a close, Nike Inc. had shot from 10 million dollars sales to 270 million dollar sales. It is because of this that by 1996, the company had registered revenue of 6.74 billion dollars. In 2000, the sales had reached 12 billion dollars (Goldman and Papson, 1998, 22). Another prime strategy which Nike Inc. uses is the selling of its performance equipment. Nike’s performance equipment include footwear, balls, socks, bags, bats, gloves, eyewear, electronic sports devices, time pieces and protective equipment. Alongside this, Nike also provides apparels for legitimate or licensed sports teams. To execute this strategy well, Nike Inc. uses

Quality of Primary Education in India Essay Example for Free

Quality of Primary Education in India Essay Education in India is provided by the public sector as well as the private sector, with control and funding coming from three levels: central,state, and local. Taxila was the earliest recorded centre of higher learning in India from at least 5th century BCE and it is debatable whether it could be regarded a university or not. The Nalanda University was the oldest university-system of education in the world in the modern sense of university. Western education became ingrained into Indian society with the establishment of the British Raj. Education in India falls under the control of both the Union Government and the states, with some responsibilities lying with the Union and the states having autonomy for others. The various articles of the Indian Constitution provide for education as a fundamental right. Most universities in India are controlled by the Union or the State Government. India has made progress in terms of increasing primary education attendance rate and expanding literacy to approximately two thirds of the population. [3] Indias improved education system is often cited as one of the main contributors to the economic rise of India. [4] Much of the progress, especially in higher education and scientific research, has been credited to various public institutions. The private education market in India is merely 5%[ although in terms of value is estimated to be worth $40 billion in 2008 and will increase to $68–70 billion by 2012. However, India continues to face stern challenges. Despite growing investment in education, 25% of its population is still illiterate; only 15% of Indian students reach high school, and just 7% graduate. The quality of education whether at primary or higher education is significantly poor as compared with major developing nations. As of 2008, Indias post-secondary institutions offer only enough seats for 7% of Indias college-age population, 25% of teaching positions nationwide are vacant, and 57% of college professors lack either a masters or PhD degree As of 2011, there are 1522 degree-granting engineering colleges in India with an annual student intake of 582,000, plus 1,244 polytechnics with an annual intake of 265,000. However, these institutions face shortage of faculty and concerns have been raised over the quality of education. [9] In India education system is not based on pure merit, but its based on caste based reservations. In universities/Colleges/Institutions affiliated to federal government there is minimum 50% of reservations applicable to various castes. At state level it varies. State of Andhra Pradesh has 83. 33% of reservations as on 2012 ,which is highest percentage of reservations in India. So the state is popularly known as the state that killed merit. PRIMARY EDUCATION SYSTEM IN INDIA The Indian government lays emphasis to primary education up to the age of fourteen years (referred to as Elementary Education in India. ) The Indian government has also banned child labour in order to ensure that the children do not enter unsafe working conditions. However, both free education and the ban on child labour are difficult to enforce due to economic disparity and social conditions. 80% of all recognized schools at the Elementary Stage are government run or supported, making it the largest provider of education in the Country. [pic] However, due to shortage of resources and lack of political will, this system suffers from massive gaps including high pupil to teacher ratios, shortage of infrastructure and poor levels of teacher training. Figures released by the Indian government in 2011 show that there were 5,816,673 elementary school teachers in India. As of March 2012 there were 2,127,000 secondary school teachers in India. Education has also been made free] for children for 6 to 14 years of age or up to class VIII under the Right of Children to Free and Compulsory Education Act 2009. There have been several efforts to enhance quality made by the government. The District Education Revitalization Programme (DERP) was launched in 1994 with an aim to universalize primary education in India by reforming and vitalizing the existing primary education system. 85% of the DERP was funded by the central government and the remaining 15 percent was funded by the state The DERP, which had opened 160000 new schools including 84000 alternative education schools delivering alternative education to approximately 3. 5 million children, was also supported by UNICEF and other international programmes. This primary education scheme has also shown a high Gross Enrollment Ratio of 93–95% for the last three years in some states. Significant improvement in staffing and enrollment of girls has also been made as a part of this scheme. The current scheme for universalization of Education for All is the Sarva Shiksha Abhiyan which is one of the largest education initiatives in the world. Enrollment has been enhanced, but the levels of quality remain low. CONCERNS FOR QUALITY EDUCATION As far as the provision of access and coverage is concerned, India today boasts of its educational system being the second largest in the world. It consists of nearly 610 thousand primary and 185 thousand upper primary schools, about a quarter million nonformal education centers, about 1. 87 million teachers and 110 million students study in primary classes in the recognized schools (1997-98). As per 1991 Census estimates there were about 115. 6 million children in primary school going age group in the country2. The latest educational statistics indicate a GER of 89. 7 percent for primary classes (81. 2 percent being for girls and 97. 7 percent for boys). 3 . The number of students in primary  classes in India is larger than the total population of the neighboring Bangladesh THE STATE OF QUALITY OF PRIMARY EDUCATION IN INDIA The key concern about education, in any formal educational system, of all time, has been its quality. Every stake holder, direct or indirect, of education is concerned about its quality. Guardians or parents, irrespective of their socio-economic status, want to educate their children with best quality education which would add better value to the degrees their wards acquire subject to the budget constraints. But what do we mean by ‘quality education? How this quality is being assessed? What is the status of the quality of education in India? This paper seeks to focus on these issues with respect to the quality of primary education in India. There is no universally accepted definition for ‘quality of education’. In education, perception of quality is around students (Mukhopadhyay, 2001). The performance of the students like examination results, learning achievements, ability to apply learned knowledge in practical life exhibit the quality of an education. For some, â€Å"Quality of education† means value addition in education (Feigenbaum 1951); excellence in education (Peters and Waterman 1982); for others, fitness of education outcomes and experience for use (Juran and Gryna 1988). For a society, â€Å"excellence† and â€Å"value† are most appropriate indicators for quality education. A generally accepted definition of quality education does not exist and different end users adopt different criteria for determining the quality of education. In this study we measure the quality of primary education on the basis of student learning achievement (i. e. , ability of read, write and do mathematics). PRIMARY EDUCATION :UNIVERSILITY VS QUALITY: The universal declaration of human rights (1948) considered primary education as the basic human right of all people. Accordingly, all nations prioritized universal access to education. The developed and developing countries have attained universal or near universal access to primary education. Now the focus is on the quality of student learning. The quality concern is not uniform across the nations. The developing and poor nations are still striving for expansion of educational access. It has been established that access to education and its quality are not sequential  elements. At the sub-regional meeting of South Asian Ministers in Katmandu in April 2001, quality education was unanimously identified as a priority area. All participants were in agreement that there was an urgency to develop the quality of education to meet the intermediate target and education for all by 2015. Because how well pupil are taught and how much they learn can have a crucial impact on how long they stay in school and how regularly they attend. Further whether parents send their children to school at all is likely to depend on the judgment they make about the quality of teaching and learning. Based on this perception parents decide whether attending school is worth the time and cost for their children and for themselves. The World Bank (1997) suggested that ‘the best way to improve access is to improve quality which would make coming to school or staying in school a more attractive option from the perspective of parents as well as children. Moreover, efforts to improve quality will tend to increase the efficiency of the public expenditure and will encourage parents to contribute children education’. In the year 1950, when the Constitution of India was adopted, education was recognized as a basic individual right. Directive Principles of State Policy, Article 45, states that â€Å"the state shall endeavour to provide within a period of ten years from the commencement of this Constitution, for free and compulsory education for all children until they complete the age of fourteen years† (The Constitution of India). In line with the commitment of the country to provide elementary education to all children, educational facilities have got tremendously expanded during the post independence period, especially in primary stage. The number of primary school in India has increased from 2. 2 lakhs in 1950-51 to nearly 7 lakhs in 2004-05. In addition, there are at present nearly 3 lakhs non-formal education centres providing primary level education to out-of-school children in the age group 9 to 14. This expansion has definitely helped in making primary level education more easily accessible to a large section of children. As a result, the illiteracy rate and drop-out rate at school stage have come down. The national literacy rate has increased from 52. 21 per cent in 1991 to 64. 84 per cent in 2001. The drop-out rate has also declined from 64. 9 per cent in 1960-61 to 29 per cent in 2004-2005. Although the literacy  rates for both males and females have increased, the latter still continues to lag behind the former. However, there has been a narrowing of the male-female gap in literacy from 24. 8 percentage point in 1991 to 21. 7 percentage point in 2001(Selected Educational Statistics 2004-05). Primary education is the first stage of formal education. The main objective of quality primary education is to inculcate basic knowledge about reading, writing and arithmetic among the children. It is expected that after the successful completion of the primary level of education, a pupil should be able to read, write, and solve simple arithmetic problem. A study conducted by the Teamlease Services has revealed a very disappointing scenario of primary education in India. The study was conducted in primary schools in all the States of India (excluding Union Territories, Mizoram, Sikkim) to measure the learning achievement (quality) of students in language and mathematics. This study found that in India after completion of primary level education, 11 per cent student were not able to recognize anything, 14. 1 per cent can recognize only letters, 14. 9 per cent can read a word, 17 per cent can read a paragraph of a story and only 42. 8 per cent can read the complete story (Table 1). School Children who can read-standard-wise (IV) (in per cent) |State |Nothing |Letters |Word |One-Para of the |Complete story | | | | | |story | | |Andhra Pradesh |8. 8 |10. 5 |15. 6 |17. 7 |47. 35 | |Arunachal Pradesh |7. 2 |13. 5 |21. 6 |13. 3 |44. 4 | |Assam |10. 8 |15. 5 |20. 2 |21. 2 |32. 3 | |Bihar |14. 9 |15. 2 |12. 8 |14. 8 |42. 3 | |Goa |6 |6. 1 |12. 9 |24. 2 |56. 2 | |Gujarat |7. 2 |12. 4 |18. 9 |18. 6 |42. 9 | |Haryana |8. 5 |12. 1 |12. 7 |16. 1 |50. 7 | |Himachal Pradesh |3. 5 |14. 9 |11. 8 |14. 5 |55. 35 | |Jammu Kashmir |3. 4 |10. 2 |26. 5 |20. 8 |39. 1 | |Karnataka |5. 4 |12. 1 |17. 7 |19. 0 |45. 9 | |Kerala |3. 2 |3. 7 |10. 7 |11. 3 |71. 1 | |Madhya Pradesh |15. 7 |15. 3 |15. 5 |17. 1 |36. 5 | |Maharashtra |7 |12. 1 |13. 0 |17. 4 |50. 45 | |Manipur |10. 6 |10. 7 |18. 7 |15. 7 |44. 4 | |Meghalaya |9 |8. 9 |22. 0 |8. 9 |59. 5 | |Nagaland |3. 1 |16. 5 |21. 7 |255. 6 |33. 2 | |Orissa |12. 4 |15. 0 |13. 5 |15. 05 |44. 2 | |Punjab |8. 9 |15. 3 |15. 1 |17. 85 |42. 8 | |Rajasthan |15. 8 |13. 2 |12. 7 |14. 95 |43. 6 | |Tamil Nadu |10. 3 |11. 4 |17. 5 |17. 3 |43. 6 | |Tripura |1. 0 |7. 3 |11. 7 |16. 8 |63. 4 | |Utter Pradesh |16. 8 |19. 2 |14. 6 |14. 8 |34. 6 | |West Bengal |4. 3 |12. 3 |13. 8 |24. 6 |44. 9 | |Chhattisgarh |7. 3 |16. 0 |15. 0 |15. 5 |46. 4 | |Jharkhand |13. 8 |16. 9 |15. 5 |15. 4 |38. 5 | |Uttaranchal |6. 8 |13. 0 |11. 2 |13. 3 |55. 7 | |All India |11. 0 |14. 1 |14. 9 |17. 0 |42. 8 | Source: India Labour Report 2007 The condition of students learning achievement (quality) is extremely poor in mathematics compare to language. This study found that after the successful completion of the primary level education, 18. 6 per cent children could not recognize the numbers, 26. 7 per cent children can recognize the numbers but not able to do addition or subtraction, 23. 9 per cent children only can do subtraction, and only 30. 7 per cent children can do addition, subtraction as well as division. Table 2 contains data relating to mathematical learning achievement (quality) in all Indian states. IMPROVING QUALITY OF PRIMARY EDUCATION For improving quality, the concerned authorities need to emphasis on the following issues,Early childhood education is extremely important and must be universalized. Aelevant curriculum. Accurate assessment of learning outcomes. Participatory management of education system. Engaging local communities,. Using ICT in teaching learning process Training of teachers and administrators of ICT. ,District Institute of Education and Training (DIETs) and State Council of Educational Research and Training (SCERT) need to be more strengthened and undergo structural changes. ,Establishment of a National Primary Education Assessment system like National Assessment and Accreditation Council (NAAC) for Higher education. ,Strengthening the teacher training institution. Reform in examination system. Proficiency in English is widely perceived as an important avenue for employment and upward knowledge, which also greatly facilitates the pursuit of higher education. English should be incorporated into the curriculum of primary schools as a language subject. CONCLUSION It appears from the empirical study that quality of primary education has been compromised for its universality in India. Operation Black Board, District Primary Education Project, National Literacy Programme, Sarvha Shiksha Abhiyan—all aim at universalizing. It is time that the nation pays heed to the quality dimension. As it has already been pointed out, quality indirectly helps in making the quantity. As a result, quality improvement programmes need to be devised for all levels—national, state and district.

Incremental Analysis Essay Example for Free

Incremental Analysis Essay Incremental in comprehensive analyses both serve similar purposes in decision making in the workplace. The argument is that incremental is more economical than and just as effective as comprehensive analyses. Since both are used to make important decisions within a company, which one will serve the best purpose while still being justifiable and cost effective to complete? Both will complete the same task, but one will do it better and we will be explaining why incremental analyses are the better ones to use. Incremental Analysis Incremental analysis is important and standardized approach to determine various business decisions concerning cost and revenue. This tool is very crucial and time saving; it leads in a systematic way to identify the probable effects of decisions on future earnings in order to make better decisions concerning the profitability of the company. Management utilizes incremental analysis to identify relevant information related to costs and revenues associated and impacted by the decision; this information is further compared to make the most profitable decision. Examples of decisions best made through incremental analysis include – whether to accept an order at special price, make-or-buy, sell or process further, retain or replace equipment, eliminate an unprofitable segment decision and allocate limited resources, and decisions (Kimmel et.al, 2011). Comprehensive Analysis Comprehensive analysis is the financial term used for evaluating every financial detail of the entire operation in a company. The purpose of conducting comprehensive analysis is to determine a company’s present financial position as well as its expected financial standing in the future. In conducting comprehensive analysis, both current and historical fiscal reports must be collected to analyze the status of the company’s investments. These reports are also needed to calculate the financial ratios of different companies. Determining the financial ratios is the next step when conducting comprehensive analysis as these ratios will determine the company’s performance and its effectiveness. The ratios will give a snap shot of the company’s overall financial condition, strengths and weaknesses of its financial activities which will help creditors and investors decide  whether company is worth investing in. And finally, compare the company’s ratio, to the ratio of another organization with similar production processes to determine if the company will succeed or needs enhancement. Disagree/ or Agree According to our research we have come to an agreement that Incremental Analysis is the best decision and focus tool that we have. The reasoning is because it reveals faster results and cost less. Another two are when reports are shown and analysis are done it reveals the same results. It also focus on a specific subject or topic. Incremental analysis also pulls reports and help management make decisions whether to accept orders, to make a product or purchase, sell and process products furthers, or even the retaining and replacement of equipment that are used by the business. References JIm, B., Hughes, M.C. (2014, April). What is comprehensive analysis. Wise Geek, (). Retrieved from http://www.wisegeek.com/what-is-comprehensive-analysis.htm Virtual Advisors Inc. (2011) Analyzing your financial ratios retrieved from http://www.bbt.com/bbtdotcom/business/small-business-resource-center/growing-a-business/financial-ratios.page

The internationalization of IKEA into China

The internationalization of IKEA into China Introduction When dealing with international marketing is one of the key points you should consider whether the product or marketing to be standardized or adapted to each local market. The question is one of the most debated in the international marketing literature by authors such as (XXXXXXXXXX, XXXXXXXXXX, XXXXXXXX). The focal point of this task is the issue between standardization and adaptation in the international campaign. First reviewed a theoretical perspective on the issue, based on Levitts controversial and much omdoskiterede article from XXXXX, XXXXX, followed by an outline of the criticism has been against Levitt and the whole theory about standardization. A critical evaluation of the whole issue of standardizing versus adaptation follows then And finally rounded off with conclusions and further reading. Teoretiske koncepter standadisering versus adaption According to Levitt the most radical of the proponents of standardization thinking there is much in favor of a standardization strategy. In Theodore Levitts article from 1983 (FIND XXXX Overview about Globalization Thoughts Fra pdf med GlobaliseringXXXXX), where he discusses the globalization of markets and the standardization of products and production processes, Levitt stated, Only global companies will achieve long-term success by concentrating on what everyone wants in rather than worrying about the details of what everyone thinks they like His basic idea was to show the need for standardization in industry processes and products to be able to increase the relative quality of falling costs and so the price per item . This idea was founded by awareness of globalization and the coupled development of subsequent homogenization of consumers and their needs. In his book from 1995 The Globalization of Markets in Global Marketing Management. Cases and Readings Levitt argues, first, that markets the world over converge and as a follow consumer preferences worldwide becoming more more uniform. A global demand pattern emerges which can be satisfied through a global and standardized XXXXXudbudXXXXX. Second, a standardization of products and marketing provides an opportunity to achieve economies of scale in production and lower costs. This leads to low price of the products thus freeing resources to product development. Standardization implies that you refrain from accommodating local preferences, and instead concentrate on developing the core qualities of the product. Whatever the preferences in a given time might be for a local custom product, consumers will end up prefer global, standardized products, because of their basic quality and cheap price. If companies want to succeed in the global competition, they should assume that the needs arou nd the world are basically alike. Theodore Levits article in Harvard Business Review in 1983, XXXXX The Globalization of Markets XXXXX since it was created was one of the most controversial marketing hypotheses. Most of the discussion has gone on the accuracy of the Levite central idea, namely that the most successful, future business strategy will be the completely standardized, which takes no account of what is regarded as superficial differences between world markets. Rather than being paralyzed by differences in individual markets to develop global business opportunities to see the similarities between consumers across various markets. Faced with this view highlights the supporters of an increased focus on locating and individual market adjustment that supporters of globalization, including working from an unrealistic understanding of globalization pace where the marketing function apparently globalizing at a faster pace than the consumers, it postulates that turn tilXXXXX Usunier, Jean-Claude, 1997: Marketing Across Cultures, Prentice Hall XXXXX The cultural differences between markets are weighted more heavily than the proponents of globalization expresses particular in connection with marketing communication. The differences between markets outweigh the similarities. Nobody and nothing is solved culture. Both products and consumers should be seen and understood in their cultural context XXXXX Mooij, Marieke those, 1998: Global Marketing and A dvertising: Understanding Cultural Paradoxes, Sage. XXXXX . For example, the companys marketing communication contains a number of standardization immediately obvious benefits of resource characteristics. The idea of one global theme for the companys marketing communication is tempting, but may pose a risk to cultural and linguistic differences between the markets examined. Several brands have thus different image to different markets. Thus connected instance Honda with properties like reliability and quality in the U.S. while the Japanese market, where these properties are considered self-evident, see Honda as an expression of speed, youth and energy XXXXX Aaker, David A. and Joachimsthaler, Erich, The Lure of Global Branding , Harvard Business Review, Vol 77, No. 2, 1999. XXXXX A sales argument would not necessarily have the same appeal in all markets, simply because the text is translated into the language market. Theories that argue against Levitts thoughts on globalization illustrate that standards in general do not meet consumer needs and lifestyles. These theories imply that consumers are becoming more diverse globally, which means that products and services must change with the adjustment and use of standards in the direction of regional segments. The critics of global marketing mean that cultural, political, and economic differences in different countries call for an adaption to local markets XXXXX (Boddewyn, Soehl and Picard 1986; Hill and Still 1984; Quelch and Hoff 1986; Sorenson and Wiechmann 1975; Wind 1986). XXXXX The thought of standadisation is an oversimplification of reality. There are variations between different countries in terms of consumer needs, purchasing power, commercial infrastructure, culture and traditions, laws and regulations, and technological progress. These factors are still to different from country to country so its necessary to adjust the marketing strategy for each market XXXXX (Terpstra Sarathy, 2000) (Standardization versus adaptation of international marketing strategy: an integrative assessment of the empirical research)). XXXXX Common to the authors, highlighting the limitations of standardization strategy is that they point to the cultural differences as one of the key barriers to a standardization strategy. The key concept that has been used to describe the importance of culture in marketing strategy is cultural bind. This suggests that products can be more or less tied to the cultures they consumed, and that the degree of cultural bonding determines whether they can be standardized or not. Food and clothing should therefore be strongly culture-bound products, which are difficult to standardize, while industrial goods are kulturfri, and therefore easier to standardize. In between you place the consumer durables, which more than kulturfri eg food but more culture bound than industrial goods XXXXX (Usunier 1993). XXXXX The classic debate on standardization versus adaptation is increasingly proving to be based on some outdated terms. Culture is the habits and ways of thinking, we take for granted. This is also the understanding of culture that underlie the traditional debate on the Levites point: to what extent can something fit into the existing culture. This papers argument is that it is not so much a question of whether the market is (or marketing) is substantially different from the culture, it must fit in. What matters is rather whether it can operate in different discourses on cultural identity in local markets. Cultural Understanding yesterday to predict the problems and potential misunderstandings arising from different cultural backgrounds. Furthermore, the fundamental question of the relationship between marketing and culture in this perspective, to what extent an individual, current marketing strategy or tactic is applicable in another cultural context. The main problem with the Levites argument is that the globalization process basic viewed as driven by demand. This is summarized in the following lines: The uniformity of preferences will inevitably lead to standardization of products of industrial and commercial and business enterprises XXXXX Levitt, Theodore (1983), The Globalization of Markets, Harvard Business Review (May-June) , 92-102. pp 93, XXXXX. But, as we have seen, there is both a strong tendency towards standardization and perhaps even more likely that globalization is carried forward by competitive supply rather than demand side, and that those in each case are not independent of each other. This has opened Levits argument for a critique from various scientists, whereas Levits lack of understanding of the concept of culture and persistent cultural differences in the globalizing world. Yet other theorists XXXXX Robertson, Roland (1992), Globalization: Social Theory and Global Culture, London: Sage. XXXXX Robertson, Roland (1995), Glocalization: Time-Space and Homogeneity-Heterogeneity, M. Featherstone, S. Lash R. Robertson, eds, Global Modernities, London: Sage, 25-44. XXXXX has tried to move beyond this dichotomous debate a counterpart to the debate that has been conveyed in marketing literature on standardized or customized wine promotion (see Wind Douglas comment XXXXX Wind, Yoram and Susan P. Douglas (1988), The Myth of Globalization , Columbia Journal of World Business, Vol 12 (Winter). XXXXX to Levite thesis). Here it is suggested that you talk about glocalisation since both homogenizing (globalizing) and heterogeniserende (localising) processes is an essential part of globalization. Robertson emphasizes this when he sees the local (and location) as a fundamental rather than a conflicting part of globalization. Thus in one sense, such as Levitt argues a homogenization of demand but it is a demand for differences rather than according to uniform, standardized Western products. Levite mistake is to have considered culture as something that exists independently of the market, an external factor, whose consequences (special preferences, etc.) could and would be overcome by so-called objective product qualities. Rather, it shows above that culture is something that is demanded and also very much created the market. In the following we will therefore argue that culture is not such a market external factor, but something that is reflexive. This means that culture is not something that can be taken for granted as if it had an unchanging essence Critical assessment XXXXXXX Contingency Theory: from Product and Promotion adaption in Export Ventures XXXXXXX The term globalization is the last decade become one of the most used and abused buzzword. Just within the marketing area is the concept of globalization somewhat more advanced in years, since it was used by a discipline of great old masters in a seminal article as long as 20 years ago. We refer of course to Theodore Levits article in Harvard Business Review in 1983, The Globalization of Markets XXXXX Levitt, Theodore (1983), The Globalization of Markets, Harvard Business Review (May-June), 92-102. XXXXX This has since been one of the most controversial marketing hypotheses. Most of the discussion has gone on the accuracy of the Levite central idea, namely that the most successful, future business strategy will be the completely standardized, which takes no account of what is regarded as superficial differences between world markets. XXXXX Bauman, Zygmunt (1999), Culture as Praxis, 2nd edition, London: Sage XXXXX Levite argument is the idea that companies can gain competitive advantage by exploiting economies of scale XXXXX Levitt, Theodore (1983), The Globalization of Markets, Harvard Business Review (May-June), 92-102. pp 92]. XXXXX On the one hand it is true that globalization leads to new market conditions, where such is impossible for companies to sit international market development ignored, though they only operate domestically. On the other hand, it has demonstrated how local companies can push their global competitors precisely by emphasizing their local roots. The fact that the local should be a quality in itself, completely overlooked by Levitt XXXXX Ger, Gà ¼liz and Russell W. Belk (1996), Id Like to Buy the World a Coke: Consumption-scapes of the Less Affluent World , Journal of Consumer Policy, 19 (3), 1-34. XXXXX The usual argument for standardization is still out on that brand names and products have a defined meaning which affects the customer when he / she meets these products or brands. But as so aptly demonstrated, is even Coca-Cola (king of global brands) importance universe subject to local interpretations. And even Coca-Colas management has said it is a multi-local rather than a global product XXXXXAskegaard, Soren Fabian Csaba (2001), The Good, the Bad and the Jolly: Taste, Image and Symbolic Resistance To The Coca-Colonization of New Zealand , S. Brown A. Patterson, eds, Imagining Marketing, London: Routledge, 124-140 .. XXXXX also express statement that Coca-Cola is welcomed by alle XXXXX Levitt, Theodore (1983), The Globalization of Markets, Harvard Business Review (May-June), 92-102. pp 93, a XXXXX oversight of the global on Coca-Cola are both preference for and resistance to brand as expressed through the concept of Coca-Colonization which conceals the fact that the American / western lifestyle brand represents, not welcomed by everyone. Neither or Stadardisation and adaption à ¤r tvà ¥ Extremes in marketing. I sin article Kelloggs Internationalisation versus globaliseringen of the marketing mix (2001) Claudio Vignali cites Terpstra, V. and Sarathy, R. (1994) for writing att nà ¤r adopting a helt localized marketing strategy only coincidental ligheder EXIST. Completely standardised marketing is identical in all markets. Neither extreme in Usually used. I wish to give some examples of how various multinational companies engaged in or have used the global market. The examples are taken from international journals, and gives each of them an insight into situations that underpins kompleksitetetn in a global markedsfà ¦rinbgs maneuver. First beskrivesd viorksomheder and products briefly, then Objectives, Strategies, and challenges etableret and encounters and Endelig the responses, resultater, og er rekommendationer Collected. The two cases chosen are, respectively, McDonalds and IKEA. These cases are particularly interesting b ecause it has two large viorksomheder whose basic concept is tight concept management and standardizing for obtaining econmicies of scale in both marketing, sales and production. These descriptions provide examples of how, despite that we have a standardization strategy must adapt to local markets because of culture. Foreign Markets: An Integrated Approach Research shows that standardization of marketing solutions determines the use of the same marketing mix in throughout the global marketplace, but standardization is often not used to companies due to differences in language, culture, consumer preferences, laws and regulations, marketing infrastructure and competition structure in various countries. Complete adaptation of marketing solutions are not suitable because in this case, companies can not use the advantages of scale economics, marketing knowledge and information acquired in other markets. But adaptation helps companies to evaluate and effectively use cultural differences foreign markets and different products, their properties and potential use. Recent research shows that changes in the global market affected by globalization has changed also solutions of international marketing: looking for a successful international performance companies do not have to choose one end, and companies that can combine multiple options to meet consumer needs in the global market and to pursue their goals more effectively. The purpose of the global m arketing strategy is to find an optimal combination of integration and rationalization of operations and settlement systems in a global market. Standardization in International Retailing: Transferring Storebrand Image Salmon and Tordjman (1989) introduced one of the most recognized classifications of international sales strategies. This classification can be viewed in terms of global / multinational strategies and the implications for standardization or adaptation of marketing activities and the seat of decision making for the international distributor. The authors define a global strategy that faithful replication of a notion abroad, which corresponds to a formula already established in the country. According to the authors, a company that has decided to choose this strategy is a homogeneous consumer audience with similar lifestyles and expectations. These companies were seen as McDonalds and IKEA. The means to achieve such a strategy is to use a standardized marketing lists. This implies that companies use a standardized or similar retail mix in each of the foreign markets they have entered. Specific product range and stor e format, services, marketing and advertising strategies, pricing policies and store layout is more or less standardized, in whatever country they operate. But as the authors note, are global retailers over the two controversies. The first is the need to adapt to local markets and thus satisfy consumer expectations, and the second is to utilize their corporate resources in order to benefit from the economies of scale derived from a standardization strategy. The authors state that the original concept or the uniqueness and distinctiveness of a product, combined with business acumen, is the competitive advantage for global retailers succeed. Besides this, these products have a long life, thus reducing the risk associated with them as fashion items. McDonalds is the world, aos largest fast-food restaurant chain. It has more than 30,000 restaurants in over 100 countries. McDonalds Corporation is the worlds largest seller of hamburgers and other fast foods. Although largely an American operation, and one of the best known American symbols, most of income from activities outside the USA. In its 2000 annual report XXXXXXXX, states that 62 percent of their annual revenue is allocated to operations outside America. This provides an interesting situation for a company that has built his empire out from doing all the food produced the same. Hamburg They have exactly the same size, the same amount of pickles are put on each bun, and milkshakes are measured with extreme precision. McDonalds business model is basically the same regardless of which country it goes to, but there are local differences, the company may face. The case of McDonalds ice dircribed pà ¥ article McDonalds: Think global, act local the marketing mix (Vignali XXXXXXXX. McDonalds expand globally mens Adjusting sina local communities. McDonalds er standadised in large scale, men de har allso adapted to the local Markets fordi of Religious Laws, Costume eller kultur. In Israel two mà ¸der Kosher Tradition Big Macs gà ¥r utan cheeseburger served two separate Meat and Diary products. In India de har serve Vegetablke McNuggets Mutton-based Maharaja Mac (Big Mac) as Hindus do not eat meat. Muslims Do Not eat pork and McDonalds ice rewarded med halal certificate att sometimes advocates total Absence of pork pà ¥ muxlim lande. In its 2000 annual report is based on three elements: A) Adding restaurants, B) Improve revenue and profit existing restaurants, and C) to improve international profitabi lity in a culturally sensitive way. This implies that a McDonalds opening in a foreign country does more than just change its menus. It adapts its operating manual for the convenience of the local franchisee. Quote from report: Maximizing sales and profits at existing restaurants will be done through better management, reinvestment, product development and refinement of effective marketing and lower development and operating costs. Improved international profitability will be realized as economies of scale are achieved in different markets, and since it is covered by the global infrastructure. .. Another case of a largely standadised company is IKEA. I artiklen A standardized approach to the world? IKEA in China,( Johannson, U. and Thelander, A., 2009), giver forfatterne et indblik i de udfordringer IKEA har haft med global markedsfà ¸ring i en casebeskrivelse af deres introduktion og markedsfà ¸ring i Kina. IKEA har med stor succes standardiseret al markedsfà ¸ring og roll out i store dele af verden, men Kina blev en speciel udfordring, hvor standadiseringskonceptet ikke var gangbar pga. markedets, isà ¦r, kulturelle forskelle. IKEA expanded to China in 1998. The main target group are women, because they were considered those who make decisions at home. IKEA believes its core customer to be around 30 years old. This target group are the generation born under the one child policy and they are believed to be impulsive, easy to influence, very social and committed to leading international consumer brands. In most countries image of IKEA is a company with low prices. In China the opposite is true. The main strategy has been to reduce prices and make the IKEA in China for the low cost concept (roughly) as known ra worldwide. IKEA stores in China is closer to town than stores in other parts of the world where they are usually located well outside city centers. In China, consumers have less access to cars and butikkernw have to be public transport routes. Nevertheless, IKEA built 700 parking spaces under a shop in Shanghai in anticipation of that shopping patterns will change. In China there is not a DIY culture Chinas consumers are using the store as social venues. For them it is a pleasant environment and a completely removed from other furnishings stores in China where you do not have permission to feel and touch the product. People in Shanghai shop may still be seen apparently sleeping in beds and on sofas and read a book with their feet on the tables. Rather than address the issue, IKEA staff hopes that these same people will later return as customers. While IKEA is often seen as a model for standardization among retailers, it is clear that it has had to make significant adjustments in China. Offers an attractive and unusual product was never alone will be enough. IKEA claims that the worst is now getting established in China, and that experience will stand it in good Instead, as it expands into other culturally-different markets. IKEA will argue that it has adapted, while remaining true to its business concept. But its experience also shows that there are limits to how far a company can go with standardization, and how far along this road consumers are willing to be taken. XXXXXStandardization / Adaptation of Marketing Solutions in Companies Operating in Foreign Markets: An Integrated ApproachXXXXXX Research shows that standardization of marketing solutions is crucial for applying the same marketing mix throughout the global marketplace, but standardization is often no use to companies because of differences in language, culture, consumer preferences, laws and regulations, marketing infrastructure and competition structure in different countries. Complete adaptation of marketing solutions is also not useful because in that case, firms can not use the benefits of scale economics, marketing knowledge and information acquired in other markets. But adaptation helps companies to evaluate and effectively use cultural differences foreign markets as well as separate products, their properties and potential use. Recent research shows that changes in the global market affected by globalization has changed also solutions of international marketing: looking for a successful international performance companies need not select one end, and companies that can combine multiple options to meet consumer needs for global market and pursue its goals more effectively. The objectives of the global marketing strategy is to find an optimal combination of integration and rationalization of operations and settlement systems in a global market. Standardization versus adaptation of international marketing strategy: an integrative assessment of the research empirisk To overcome the above polarization, a third group of researchers offer a contingency perspective on the standardization / adaptation debate. In their view: (a) standardization or adaptation should not be viewed in isolation from each other, but as two ends of the same continuum, where the degree of corporate marketing strategy standardization / adaptation can vary between them (b) the decision to standardize or adapt marketing strategy is tailored to the specific situation and this should be the result of a thorough analysis and assessment of relevant contingency factors prevailing in a particular market at a given time and (c) the appropriateness of the chosen level of strategy standardization / adaptation shall be assessed on the basis of its impact on company performance in international markets (Quelch Hoff, 1986; Onkvisit Shaw, 1987, Jain, 1989; Cavusgil Zou, 1994) . Therefore, the challenge for the international firm is to determine what specific elements of the strategy is possible or desirable to standardize or adapt the conditions under which and to what extent. Konklusion og videre là ¦sning Konklutionen I To what extent should a consumei goods multinational corporation vary its marketing from country to countryl Konklusion à ¢Ã¢â€š ¬Ã‚ ¢ Should marketers attempt to standardize their products and marketing communications so as to minimize the costs of doing business internationally? Or should they adapt their products and messages depending on the market in which they wish to operate? XXXXXInternational markedskommunikation XXXXXStandardization/Adaptation of Marketing Solutions in Companies Operating in Foreign Markets: An Integrated ApproachXXXXXX I denne artikel har vi prà ¸vet at efterkomme opfordringen til at komme ud over at  »pjaske rundt pà ¥ overfladen af sà ¸en «, nà ¥r det drejer sig om at studere relationen mellem marketing og kultur [11].Inden for marketing er indstillingen til kultur, mà ¥ske ikke overraskende, dybt forankret i den vestlige modernismes tendens til at  »Ãƒ ¦ndre forskel til essens « [20: 80]. Imidlertid minder  »skaberne « (etnoskaber, teknoskaber osv.) os om, at kultur praktiseres og konstitueres ud fra praksis [1]; [12]; [20: 81]. Endvidere bliver vi mindet om marketings rolle som et globalt system, der frembringer forskellige identitetsrum: livsstil, kultur, subkultur, etnicitet, hybridisering, kreolisering osv. I lyset af dette bliver markedsfà ¸rte varer til materielle manifestationer af ideen om kultur, af  »det kulturelle ideoskab «, som vist ved eksemplet med belizisk madkultur [36]. Dette bà ¸r ikke lede os til at forveksle và ¦sentliggà ¸relse med và ¦sen. Det er ikke, fordi mange forbrugere enten sà ¸ger efter eller har en opfattelse af deres egen faste kulturelle identitet, at vi som forskere kan konkludere, at en sà ¥dan eksisterer, og markedsanalytikere har hidtil và ¦ret tilbà ¸jelige til at ignorere de indviklede forhold, der gà ¦lder inden for kulturelle udviklingsprocesser.  »Sà ¥ là ¦nge kulturel mangfoldighed bliver forstà ¥et som en mangfoldighed af kulturer, kan kulturstuderende kun se tvà ¦rkulturel kommunikation og tvà ¦rkulturel sammenligning som et af deres centrale problemer « [6: xlv] . For et marketing- og forbrugerforskningsmiljà ¸, der interesserer sig for den kulturelle dimension i international marketing, betyder dette, at komparativ analyse ikke là ¦ngere er det mest indlysende mà ¥l for forskningsaktiviteter, men snarere et udgangspunkt. Kultur, snarere end en forklarende struktur af và ¦sentlige trà ¦k, bliver et paradigme, pà ¥ basis af hvilket marketingpraktikeres og forbrugeres praksis og tilgang fà ¥r betydning for forskerne. Kultur er ikke et studieobjekt, men et nà ¸dvendigt perspektiv for at fà ¥ indsigt i det menneskelige samfunds struktur og forandringsprocesser. Referencer

The Essence Of Pop Culture Essay -- essays research papers fc

â€Å"Talk about Pop Music, Talk about Pop Music†¦Ã¢â‚¬  was one of the most catchy phrases of the 1980’s. Just as in the 80’s, today we see many characteristics of â€Å"pop culture† effecting our lives. But, what is â€Å"pop culture?† I spent some time online trying to answer my question and time after time I was led to the same direction: pop culture is what we see, hear, speak, and are otherwise exposed to on a daily basis. The infomercials we see late on television, the billboards we see on the side of the road, the junk mail we receive, the links on the web pages we visit, and the radio commercials we hear all tie together to form this idea of pop culture. These, plus many other aspects, form our minds and teach us how to be culturally smart. To be culturally smart is to understand and know pop culture. For example, if someone were to say â€Å"BUD!† it is automatically assumed that they would get a â€Å"WIES† in reply. If a person were to say â€Å"Just Do It!† Nike would be directly thought of. What elements define â€Å"Pop Culture?† Television stars, such as Drew Carey; musicians, such as Santana; public figures, such as Monica Lewinski; politicians, such as Bill Clinton; athletes, such as Michael Jordan; large corporations with their slogans; and movies are all, but not limited to, pop culture. In a Journal I found online of a study of pop culture, it compared the link of religion and a pop culture icon, Star Wars. The study was conducted with people and it read: â€Å"The comparisons and shared philos...

The Physics of Skiing Essay -- Sports Athletics Essays

The Physics of Skiing I have been skiing for about five years and I find it to be one of the most fun and challenging sports there is. A lot of the reason it is so challenging is because of the laws of physics such as gravity and friction. In this essay I will discuss how physics relates to skiing and how this physics makes skiing so fun and challenging. I will also discuss how things like wax and the shape and width of your skis can affect these laws of physics and enhance your skiing. There are really only two main forces acting on a skier, they are gravity and air resistance. The first and most important thing relating to the physics of skiing is the law of gravity. Gravity is the most familiar force in our everyday lives it is the force that keeps us on the ground it is also the force that makes things fall. We have all heard the saying, â€Å"what goes up must come down.† This saying is relating to gravity. Near the earths surface the acceleration due to gravity is 9.8 m/s^2. When you ski you are taken up to the top of a mountain by a chair lift once you reach the top of the mountain gravity wants to pull you back down the mountain. These forces of gravity and air resistance are what make skiing happen. The air resistance of a skier has a huge effect on how fast a skier is going to go. Air resistance is major factor in ski racing. A skier may reduce his or her air resistance by skiing in a tucked position. This reduces the amount of area that the wind has to hit, thus creating less drag and causing the skier to go a lot faster. Some world class skiers even have helmets that come to a point a few inches behind their head like an airplane wing to further reduce their drag. The reason that gravity is able to pull ... ...I would ski everyday if I could. I am so glad that there are such things as gravity, friction, air resistance, and kinetic and potential energy because without some of these skiing would not even be possible and without the others skiing would be really boring. If there were no gravity or kinetic and potential energy skiing could not exist. If there were no friction you would not be able to stop, and if there were too much friction you would not be able to move. And last but certainly not least if there were no air resistance there would be no ski racing. If nobody had any air resistance and they all just went straight down the hill they would all go about the same speed. There would be no way of going into a tighter tuck to go faster that another person. You may have never thought that if there were no such thing as physics there would be no skiing but it is true.

Arthur Miller’s “Death of a Salesman” Essay

Who does not want to live the perfect life, the American Dream? Throughout Arthur Miller’s Death of a Salesman, Willy Loman is in pursuit of this Dream. Willy focuses on the idealistic American dream his entire life, associating it with financial success, an excellent reputation and being well liked. He makes victims of his wife and of his sons by subjecting them to mistreatment and deprivation of a strong male role model. According to the Webster’s Dictionary a victim is one who is subjected to oppression, hardship or mistreatment. Willy puts far too much pressure on his elder son Biff, not enough on his younger son Happy, and he makes a â€Å"yes-woman† out of his doting wife Linda. Willy’s ideas of the American Dream outweigh the realistic trials and tribulations that need to be overcome in order to achieve the Dream. The American Dream is one of success and Willy views success as being well liked. He wants Biff to be well liked and hence puts much pressure on him to be popular. During Willy’s flashbacks to 1929, Willy encourages Biff to be a good football player rather than a good student. Willy pays so much attention to Biff and puts so much pressure on him to succeed and to be well liked that Biff does not have anything concrete (such as marks) as a backup. Willy believes that even though Bernard can get the best marks in school, that he will not survive in the business world because he is not well liked (Miller 33). Biff wants to live up to his father’s dreams. He wants his dad to be proud of him. Before the football game at Ebbets Field, Biff promises â€Å"to break through for a touchdown,† just for his dad (32). As a teenager, and right up until he catches Willy cheating, Biff does everything he can to get into Willy’s good books. He is the star football player and popular enough to order his friends around: â€Å"Fellas! Everybody sweep out the furnace room!† (34). Then, all of a sudden, things change. After finding Willy and Miss Francis together, Biff comes to the conclusion that his father is not as important as he makes himself out to be: â€Å"he [Mr. Birnbaum] wouldn’t listen to you [Willy]† (120). This is the turning point in Biff’s life because he becomes a victim of Willy’s actions. At this point, in a hotel room in Boston, Biff gives up on his life and the dream of success when he decides that he is â€Å"not going there [the University of Virginia]† (120). Willy has ruined his son’s chances at getting a good education and a  successful career. Willy puts so much emphasis on Biff’s success, that he neglects Happy. As a result, Happy feels the need to follow in Willy’s footsteps in order to gain the level of respect and attention from his father that is given to Biff. Happy feels this neglect as a teenager and feels the need to satisfy his dad: â€Å"I’m losing weight, you notice, Pop?† (33). Happy wants to be popular and well liked in order to get some positive attention from Willy. Even as an adult, Happy holds on to the need to impress his dad and to keep him content with his life. Happy wants Biff to lie to their father about seeing Bill Oliver because Willy â€Å"is never so happy as when he’s looking forward to something† (105). Happy wants Willy to be pleased with Biff because that would keep Willy happy and could stop him from having flashbacks and talking to himself. Success in business is one of Willy’s goals for the American Dream and thus, Happy wants to be a businessman because he is seeking his father’s approval. While in pursuit of the American Dream, Willy needs someone to support him and to agree with all of his decisions. Linda is there for him throughout the hard times. She guides him by being supportive of his decisions and even supports his lying. She knows that he goes to Charley to â€Å"borrow fifty dollars a week and pretend[s] to [her] that it’s his pay† (57). Linda allows him to feel important, at least in front of his own family. Not only does she defend him in front of their sons, but she also tries to keep the peace between her husband and Biff. Willy doesn’t appreciate this as he should, turning on her when she tries to get him to listen to Biff, telling her † don’t take his [Biff’s] side all the time† (65 ). Later, when she tries to comfort him, he tells her to â€Å"get to bed† (134). She endures him yelling, â€Å"stop interrupting† (64) without breaking down, only to ask him whether she â€Å"should?sing† (68) to soothe him. He has trained her to take his harsh words and act like nothing has happened. Linda is the glue that keeps the Loman family together as she tries to get Willy and her sons to speak calmly and peacefully and to see the best in each other. Ultimately, the Loman family is affected by the American Dream gone awry.  Willy Loman is very focused on this dream and his family’s success in business. Consequently, he mistreats his sons and his wife, making victims of them. His sons do not have a strong male role model who they can look up to during their maturing years. Instead, they have a daydreaming, failing salesman for a father, whose sole objective in life is to live the American Dream. He has also trained their mother to agree and comply with everything he says. The American Dream implies happiness and for Willy Loman that happiness is to die the death of a salesman. We have to wonder how the idea of death can bring happiness to someone’s life.

Is a Fair Trade Policy Superior to a Free Trade Policy?

Graduate Business Ethics-Section 01 March 5, 2013 Is a Fair Trade Policy Superior to a Free Trade Policy? In the past 30 years the business world has changed tremendously because of globalization. It has allowed a trading relationship grow between the developed and developing countries. The United States has greatly profited from this relationship; American business have been able to cut their labor costs by moving majority of the low skilled jobs to countries such as China, India, and Mexico. In The Fair Play Debate, Joseph Stiglitz fights for fair trade.He believes fair trade policies are needed to protect the poor from the rich. On the other hand, Gary Hufbauer argues for free trade; stating that it is a superior policy because it can benefit everyone in the developed and developing world. I agree with Joseph Stiglitz in this matter, because I believe fair trade is the best policy for the business world today. When people speak of globalization they only speak of the â€Å"positi ves. † They say free trade has increased the American household income by lowering costs of products and this was possible because labor costs were cut.Joseph Stiglitz speaks of the other side of globalization. He states Americans who used to work these low skilled jobs have lost their jobs and are having a difficult time finding employment. Not only that, but the workers in these countries are also suffering because the work environment isn’t safe and they are underpaid. The unemployment rate in the United States has been increasing over the past 30 years. Factories have been closing and businesses have permanently shut down all over the U. S. Many Americans have packed up their belongings and moved to other areas to find work.In the article Can the Midwest Regain its Economic Clout, by Richard Longworth, it says places like Dayton, Cleveland, Detroit, and St. Louis have seen a decrease in their population because many have left to find work. These areas have lost anyw here from 40-60% of their populations. I understand from a business point of view globalization is a good way to make profit by keeping the cost down and individuals in other countries have work, however, the environment isn’t always safe and they are getting paid next to nothing.Meanwhile, in the United States, so many people are struggling to find a job and keep their families financially afloat. I believe if companies want to send the work overseas, they have to make fair trade rules. The working conditions need to better and so does the pay. This way both the rich businessmen and the poor workers benefit. I also believe that maybe not all the work from one company should be sent overseas; send some work there and keep some here, this way more people will benefit I think fair trade is the morally just way to conduct business.Not only will Americans benefit, but so will the workers in developing countries. Most importantly this would keep the rich from getting richer and th e poor from struggling to keep afloat. I believe this could really help close the gap between the two. It would also help lower the unemployment rate in the United States and will hopefully bring up the average household income. Fair trade will build a strong foundation and a sense of camaraderie with developing countries.

Takaki History

1. What surprised you or what did you learn as you read Takaki's piece? The laborer has no name. When they get into the island, they have a small brass disks with their identification numbers on it. Worker was called by number, but never by name 2. What were the conditions like for Hawaii's laborers? The laborers were brought to Hawaii as cheap labors. Their labor enables the planters to transform sugar production into Hawaii's leading industry. Low wage, long working hour. 3. What was the ethnic makeup of Hawaii's immigrant workers? How was this exploited by plantation owners? 923: Hawaiians and part-Hawaiians: 16. 3 %Caucasians 7. 7%Chinese 9. 2%Japanese 42. 7% Portuguese: 10. 6%Puerto Ricans: 2. 2%Filipinos: 8. 2% 4. What were some of the ways the plantation owners used to keep the workers â€Å"under control? † Were these attempts always successful? How did the workers respond or even counter some of those methods? Paternalism: Designed to pacify labor's unrest and served to maintain a racial and class hierarchy. Coercion: Punish the workers. control workers with authority. (fines, arrestment, physical punishment: whip) Occupational structure stratifying employment according to race.Supervisory: white, 1900, contract labor system still worked, under contract were bound by law to serve 3~5 yrs. Organic Act of 1900 abolished the contract labor system 1904, Hawaiian Sugar Planters restricted skill position. â€Å"exclude Asians. Were not white hence ineligible to become citizens† Establish central labor bureau to set wage rates. Utilized a multitiered wage system to pay different wage rates to different nationalities. Divide-and-control system Provide incentive for bonus system. Paid once a year (similar to the year-end bonus) President Theodore Roosevelt prohibit the passage of Japanese from Hawaii to the mainland.Fight back violentlycounterfeit couponspretend illness/workingresorted to opium and alcohol desertion from service Striking mainly by Japanese : Most important event of â€Å"blood unionism†: Japanese Strike of 1909, Portugese 22. 5 per month, japanese 18 A transformation from sojourners to settlers, from Japanese to Japanese American. They succeed. 1920 strike: 1909: Japanese has 70% of working force, 1920 Japanese: 44% Filipino: 30% – first major interethnic working-class unity. Head of Filipino union start the strike but the planters offered him a bribe and he called off the strike. Divide and control) The strike was not succeed. During 1920: the planter enlisted Hawaiians, Portuguese and koreans as strikebreakers. Japanese and Filipino have formed Hawaii Laborers' Association (multiethnic class) Housing Pattern: Pyramid and sewage system, managers, spanish, japanese and Filipino Divide and control: organization of camps into different nationalities After 1909: planters improve the conditions of camps (abandon barrack system to provide cottage) 5. What were some of the specific ways the workers t ried to deal with their hard labor and lifestyle? Be specific.Small bit of extravagance and a reminder of homeland (Japanese plants bonsai, gardenn and flower around their cottage) traditional hot baths, furos (tubs) resorted to opium and alcohol Sport (baseball) gambling (Chinese Japanese) Taxi-dance (Filipino) Religious activities: Christian and Buddhism (not only a spiritual requirement but also a broad need for ethnicity) National identities (festivals): Chinese new yearJapanese traditional festival of SoulsRizal Day Filipino Also food: Chinese (bao) Japanese (sashimi or sushi or tofu) Filipino abodo (stewed garlic pork), Korean Kimchi . What were some of the ways the workers assimilated into Hawaiian American culture and on the flip side, how did the different ethnic heritages and cultures of the workers become assimilated into Hawaiian society? Hawaiian dish Chinese-Hawaiian Parents Workers of different nationalities began to acquire a common language: pidgin English (combinat ion of Hawaiian, Japanese, Portuguese, Chinese and other languages) 7. We will discuss the concept of the â€Å"model minority. † In the articles, do you see examples of the possible origins behind this concept?Model minority, also  overachieving minority  or  overrepresented minority  refers to a minority  ethnic,  racial, or  religious  group  whose members achieve a higher degree of  success  than the population  average. It is most commonly applied to ethnic minorities. This success is typically measured in income,  education. In the  United States, the term is associated with  Asian Americans, primarily Chinese, Filipino, Indian, Japanese, Korean Americans. 8. Throughout the course of the semester, we will be discussing in greater detail the idea of â€Å"the American Dream. Does Takaki's narrative of the Hawaiian laborers fit into the idealistic image of the American Dream? Why or why not? life should be better and richer and fuller for ev eryone, with opportunity for each according to ability or achievement† regardless of  social class  or circumstances of birth. I don't think the Hawaiian laborers completely fit into the idealistic image of the American dream, there are still discrimination in the working class. Most sojourners original plan is to make enough money and go back to their own countries for better life.They didn't actually arise their standard of living in Hawaii. However, Hawaii becomes their home. Different from the continent, racial divisions is less. and they constituted a majority of population (different from the mainland. ) Also, their children were having higher education at Hawaii. Children of immigrant workers learned about freedom and equality and they are looking for better occupation to work (in the article, photographer, engineers, businessman†¦.. etc)