Organisational Planning and Control Essay Example | Topics and Well Written Essays - 2000 words

Organisational Planning and Control - Essay Example In this similar context, planning related to an organisation also helps in exploitation of the accessible resources effectually and capably. It aids an organisation to determine the set of goals assigned. Framing of strategies, policies and statements broadly depends upon the process involved within planning and control measures (Davoudi, 2009). With this concern, this report intends to select, recognise and analyse the customers having transactions with Apple Inc. This report would also entail customers’ ability influencing the company by taking into concern of examining ‘Bargaining Power of the Customers’ concerning Apple. Moreover, evaluation of the ‘Customer Relation Management’ of Apple also frames as an objective of this report. Recommendations related to customer management and generation of greater customer value would also be included within the report. Identification and the Description of the Customers of Apple Incorporation Customers frame an important part of any organisation. Apple has incorporated certain deliberate measures and strategies to attract as well as retain its existing customers for a longer period. The passing years have become quite advantageous for Apple in terms of raising greater profit margins. In this context, Apple functions differently from its peers that have given it a top priority within the competitive market scenario (Cnet, 2013). Presence of retail stores act as a benefit to acquire personal details of the customers resulting in accelerating the sales of different companies by a significant level (Cnet, 2013). Retail stores frames the best medium to interact directly with the customers comprising the potential customers also. As stated in the news report published by Cnet (2013), around 50 million potential customers visits different stores of Apple, out of which, half of them has been viewed to be the first timer with regard to the application of Apple products Apple entails prioritised strategies as a form of customer relationship. Framing of the strategies in terms of customer services, after sales customer’s feedback, making the advanced technologies easier for the non-technical people and targeting the customer’s perception helps an organisation to meet the requirements of the targeted customers at large (Cnet, 2013). In the recent years, Apple has created a brand recognition which has supported the company to survive or to sustain within the downturn market situation that entails low market share and economic crisis. In this concern, it can be affirmed from a broader perspective that the company sustained due to the presence of its strong customer base. Apple has incorporated multiple factors to derive customer’s loyalty towards accessing its broad assortment of products. Factors such as extremely advanced designs, intensive products, spontaneous user experience and effective marketing strategies have helped Apple to foster customers†™

Century World Affairs Essay Example for Free

Century World Affairs Essay The Caribbean Island of Cuba became a republic after its liberation from Spain at the hands of the USA. American presence, both in military, financial and diplomatic terms however continued as a means of providing stability and solvency to the island nation. The Cuban President’s were incompetent and unpopular with the general populace, thus, producing revolt. From 1925 onwards, although technically still a democratic republic, the country became an elite dictatorship with an army officer named Fulgencio Batista, having seized control of the Cuban army, pulling the strings from behind the curtains. The government remained corrupt and incompetent with a rising sense of resentment amongst the general population on their state of affairs. Following 1940, he was the official President of the country until his departure from office in 1944. In 1952, he seized power again and ruled by decree until 1955 when he was elected President in an election with only himself as the candidate. To mark his victory, the new President issued an amnesty for political prisoners and opponents. One of the prisoners was Fidel Castro, who had been jailed for his involvement in the 26th of July incident in 1953, whereby he had led a column of men to ambush the Cuban military installations at the Moncada Barracks. Castro wasted no time in resuming his revolutionary activities and in 1956, accompanied by Argentine Ernesto â€Å"Che’ Guevara, launched an invasion of Cuba, setting sail with his followers from the coast of Mexico. Initially, the rebels were crushed by Batista’s forces but the well organized defense of the guerilla headquarters in the Sierra Maestra Mountains sent the wrong signals to Batista’s forces. Fledging support for the rebels also made matters worse with constant guerilla attacks against Cuban army installations and personnel leading to a fall in moral within the Cuban military ranks. With a demoralized army, Batista panicked as the prospect of a full fledged civil war became imminent and fled the country, allowing Castro to march easily into Havana and form government. America was deeply aligned with Batista’s government all along the way as American businesses had deep rooted interests in the island nation. There is evidence that Castro’s invasion of Cuba in 1956 could have been funded by the CIA, although these claims remain unsubstantiated. However, given the fact that Batista’s increasingly authoritarian actions were a cause of much embarrassment for democratic Washington, it could be believed that there might have been funding with an attempt to â€Å"tame† Batista and soften his dictatorial style. Major American involvement came in 1961, when Cuban exiles trained by the American CIA launched an invasion of Cuba to topple Castro’s government but were defeated at the hands of the Castro’s army within three days. This event came to be known as â€Å"the bay of pigs invasion†. The revolution survives till today having succeeded in the provision of idealistic social development targets, although the economy remains small and largely dependent on sugar cane exports. BOLIVIA After centuries of Spanish colonial rule, Bolivia gained independence and became an autonomous republic in 1825, having had to fight a bloody war with colonial Spain. While great leaps were made in socio economic development, the indigenous population remained poor and following the Chaco War (1932-1935) where the country suffered a humiliating defeat at the hands of Paraguay, resentment against the traditional ruling class grew further as the loss of life and territory was humungous. Following the Chaco war, The Revolutionary Nationalist Movement (MNR) was created. It represented the middle-class and had a Marxist approach modified for a nationalist and socialist agenda. The party was part of the military civilian regime of Gualberto Villarroel from 1943 to 1946 but was soon expelled from the country by opponent forces. The MNR then staged a brief and bloody civil war in 1949 against the Bolivian government but failed to make any breakthrough. It was in the elections of 1951, that the MNR finally hit jack pot. Having won the elections, it was denied the right to Presidency by the Opposition parties who claimed that the elections were rigged. Following months of protests, agitation and civil unrest, not to mention the various attempts by the MNR leadership to stage a coup, events took a new turn when MNR revolutionaries together with the La Paz police force took control of La Paz, the de facto capital of the country. What followed was a bloody, half hearted battle on the side of the Bolivian army. Mass deflections and poor moral gave the MNR a victory and a chance to form government. During its 12 years in power, the MNR was responsible for bringing universal adult suffrage to Bolivia, put land reforms into practice and promot rural education. The largest tin mines were nationalized in 1952. However, the most remarkable feat of the revolution was the fact that it incorporated the indigeneos population into the normal way of life. US policy remained largely neutral in Bolivia’s case. The US had war in the Korean Penensuila to deal with at that time. However, the overthrow of the MNR by the Bolivian army in 1964 is sometimes refered to as a CIA backed initiative, suggesting that American policy was largely anti MNR, even if neutral from the outset. CHILE Chile gained independence from colonial Spain in 1810, when it was established as an autonomus republic. It was in 1970 that Chile made history of sorts when it elected by a narrow margin a Marxist government under President Salvador Allende. Whereas all previous communist governments in the world had emerged from chaos and upheavel, the population of Chile legally elected their communist government. The government, however, comprised various left wing groups and Allende suffered from his inability to bring stakeholder conflict resolution. Allende’s problems intensified as he went along. His nationalization of major industries scared away private investment and created dissent amonsgt portions of the population. His problems were further aggravated by capitalist plots and US hostility, esp by the CIA. Allende still took matters at the forefront and continued reforms to the economy and the social sector, demanding international aid and recognition to help him implement his plan for the social and economic development of Chile along socialist lines. While he had many supporters, his opposition was also plenty. While Allende struggled to keep the pieces together in the face of internal coalition bickering, resent amongst portions of the population and US hostility, the opposition and the army merely hoped that Allende would lose the 1973 election and allow for a more centrist President to take power. However, this was not to be as Allende’s government survived the 1973 election, with millions amongst the population voting for Allende a second time. Following a constitutional crisis and widespread economic woes and allegations that Allende would soon turn the country towards dictatorship, the military intervened and overthrew his government on September 11, 1973. As a woman Revolutionary As a woman revolutionary in the Cuban revolution, one of the things I would have done differently would have been to secure closer ties with America for economic reasons, instead of becoming a tool in the cold war. Closer relations with America would not imply a compromise on Marxist principles. It would rather imply an act of logical sense as America is geograpgically close to Cuba and its products are in high demand there. Closer ties with the USSR and the East European Communist bloc make less sense as these countries were geographically distant. In a way, closer economic ties with the USSR have a higher opportunity cost. Appeal of Marxist thought in Latin America Marxist thought has had a profound effect on Latin American politics. As early as the 1920’s, Marxist movements were springing up in various countries. The reasons are simple. Rising poverty, deplorable conditions of the indigenous Indian population at the hands of the ruling class (of Spanish descent), economic and social backwardness and corrupt and/or incompetent governments forced people to seek alternative ways at addressing the issues at hand. It was these conditions that fueled Marxist thought in Latin America. For many countries, the concept of equality appealed further then ever as they saw the present system merely as an extension of the colonial system, with the capitalist mindset at play. Equality of income, rights and stature in society was a totally new concept and presented a welcome change from capitalist individualism. Lack of freedom under strict military governments and persecution at the hands of intelligence agencies as a result of political motivations made matters worse. Furthermore, Marxist ideology to seize the opportunity and to fight for ones right further fueled anger amongst an already resentful population. Revolution provided an opportunity for the hard pressed populace to vent their anger at incompetent governments. Another important factor at play was hostility to the USA. The USA was seen as a powerhouse of capitalism and US business interests in Latin America were no secret to the local population. The USA had done little to support the population against their incompetent leaders and the perception of the USA was thus that of a Capitalist agent bent on world dominance. The success of Marxism in the USSR esp. it’s powerful transition from a petty backward country to a world economic and military super power standing eye to eye with the USA provided much food for thought. With the exception of Cuba, communism never really found its deep roots in any country in Latin America. True the Allende Presidency in Chile, the MNR regime of Bolivia from 1952-1964 and the present day regime of Hugo Chavez in Venezuela are near examples, it is worth mentioning that these have been mere off shoots of Marxist theory, aiming to bring changes to the original theory and apply them in a more local context. Thus, generally, Marxist thought has provoked a more centre left approach amongst the population of Latin America. It is also worth mentioning that the impact of Marxist thought on Latin America has been so profound that many of the leading figures that the theory is synonymous with are derived from this region. Fidel Castro became a symbol of defiance for the Capitalist West. Allende is renowned for his foray into democracy through democratic elections, bring communism to a country through peaceful means Similarly, Che Guevara is today not only a symbol of communist ideals of using force to attain their goals but is also recognized as the undisputed founder of modern Guerrilla warfare, a tactic, still utilized by communists and non communists alike to this day in their fight against imperialism, capitalism and injustice. Works Cited Watson, Jack. Success in 20th Century World Affairs. London: John Murray, 1991. Adam Hart -Davis. World History – A visual guide. London: Longman , 2007. Smith, Alison. Mastering 20th Century World Affairs. London: Longman, 1991. Selected Readings from The History Channel Website www. Historychannel. com

Three Gorges Dam :: China Nature Essays

Three Gorges Dam Director Owen Lammers calls it one of the "largest and most environmentally and socially destructive projects on Earth"(Maier, 1997). One of China’s oldest dreams is becoming its newest reality. Since 1914 the idea has arisen of damming the Yangtze River. China plans to do this with a 600-foot, cement wall which will take eleven years to complete and costs could rise to over 75 billion dollars. The dam is claimed to have many advantages for China and the Chinese. Three Gorges is expected to produce around one-tenth of the nation’s energy, without the use of coal, improving air quality. Also, the natural floods that occur with the Yangtze river will be stopped, supposedly saving thousands of lives in the future. The first thing needed to keep the project going is money, and many United States senators see this as a great opportunity for jobs, but it is also viewed as a good investment. Fortunately, the U.S. Export-Import Bank, (for the first time), "†¦denied financi ng solely on environmental grounds"(Giaccia, 1997). These advantages are easily outweighed by the disadvantages of this proposal; this monument threatens the environment, but construction will ensue. If the dam is so beneficial then why is it that all public debate on the issue has been banned since 1989, even for "†¦scientists and specialists"(Faison, 1997). This has probably been done to slow the process of or eliminate any opposition that may arise to this project. There are a few questions or "What if’s" about the dam, such as "What if the dam collapses?" or "What if during a war or conflict a bomb is dropped on the dam?" and since the dam is built on many seismic faults, will earthquakes be a problem? Besides all of these questions, there are numerous facts that should dissuade any proponent of the dam to insist on its construction. The dam besides hurting the environment, will also "†¦displace 1.3 million people."(Giaccia, 1997). These people were not asked to leave, they were told, and many of them still have not been compensated for their trouble, but this goes deeper than financial burdens. Individual rights have been violated, the government simply forc ed these people off their land and out of their homes and this affects children, families and livelihoods. Looking at the dam’s environmental harm specifically, it is clear that this project should immediately cause. "Environmentalists warn that sewage will back up and destroy the precious habitats for river dolphins, giant pandas and other rare animals.

To Kill a Mockingbird - Southern Traditions :: Free Essay Writer

To Kill a Mockingbird - Southern Traditions The South has always been known for its farming economy, confederate tendencies, family pride, and delicate females in ruffled dresses. In the book To Kill A Mockingbird, by Harper Lee, the South's familiar traditions become ostensible as a theme throughout the plot. This novel takes place in Alabama in the 1930s and tells a story about a lawyer who defends a wrongly accused black man while trying to raise his two children, Scout and Jem, as they go through life's most active learning stage. Southern ways enhance the plot of the story and give a realistic and historic perspective to the book. This portrayal of Southern culture appears in various forms of racism, hatred, meek women, and family. The Southern women were told and obligated, by some code of southern conduct, to mature into fair-smelling, perfect "ladies." By "ladies" they meant women who were well mannered, good at embroidery, and wore frilly, lacy dresses. One example of this southern tradition occurs when Aunt Alexandra comes to the Finch residence to help Atticus raise his children during the trial. When first arriving she says to Scout, "We decided that it would be best for you to have some feminine influence. It won't be many years, Jean Louise, before you become interested in clothes and boys." This comment implies that the only subjects girls are expected to understand are boys and clothes. Aunt Alexandra makes no mention of Jean Louise's intelligence, education, or personality. Her diction suggests that the only thing Jean Louise is capable of pursuing is her attire and a man. Scout discovers what a "southern lady" is as she notices how Aunt Alexandra "chose protective garments that drew up her bosom to giddy heights, pinched in her waist, flared out her rear, and managed to suggest that Aunt Alexandra's was once an hour-glass figure." Scout was considered to be very improper, wearing overalls and pants, but Aunt Alexandra would still try and introduce her to other ladies. I assume that she did this to try and influence Scout. She hoped Scout would form lady-like habits by watching others. Another example takes place after the trial, when Jem is appalled at the decision the court makes in response to Tom Robinson's case.

The Rise of Black British Culture from Black British Music Like Reggae

The Rise of Black British Culture from Black British Music like Reggae, Jazz, Ska to the Black British Education in Britain, seen in â€Å"Some Kind of Black† by Diran Adebayo The Black British culture is somewhat similar to that of the culture of blacks in America; however some things are more influential and seen differently in Britain than America. Black British Music is seen as very influential not only for Black British culture however for Britain music as a whole. The mixture of pop, ska, and punk had a huge impact on not only blacks in Britain however whites also.Another aspect of the Black British culture is the rise of the black culture in politics, labor, and education. Like America, blacks in the postwar Britain were discrimination against and were not welcomed with open arms; however Black British held onto their culture and earned their place in society. Black British music is very influential in Britain to most individuals in society. Through â€Å"Some Kind of Black† written by Diran Adebayo, the reader can see the influence of music in characters. Reggae, Hip Hop, and Jungle music are three types of Black British music that are very influential in Britain.Black British music contains music from performers like George Bridgetower to Billy Waters, who was more of a street performer. Black British music is developed by various influences; especially Caribbean influences, it also has been influenced by Black American styles of music like rap. Like most music, Black British music has many influences however it has its own distinctive identity and represents Black British as a whole. Reggae is one very influential type of Black British music. It was developed in Jamaica around the late 1960s and contains different styles of music like ska and rocksteady.Groups like ‘Black Roots’ were very influential in the eighties and nineties. Reggae contains various instruments from the drums and other percussions, to bass, guitars, keyb oards, horns, vocals, ect. Reggae is still very popular today all around the world. Hip Hop is also a very influential factor in the Black British culture, however it represented a new generation of blacks in Britain. This type of music was seen in â€Å"Some Kind of Black’ as moving on from the generation of new immigrants to actually being born in Britain. Hip Hop started in the 1970s and became very popular in the 1980s.Most of the hip hop music in Britain was created by men and was seen as very masculine and tough. This type of music definitely impacted the perception on blacks and developed various stereotypes for the Black British society. It portrayed the criminal, gangster blacks in society, which gave society a very harsh and negative outlook on men. Also a lot of this music was concentrated on sex, or drugs. During the post war Britain era, many women were seen as objects or sex symbols and a lot of this music contained this perception of women so it definitely inf luenced the view of women at the time.A lot of the rappers, or individuals who were involved with hip hop were always seen with a lot of women, so the individuals who saw them as idols, were impacted by this type of behavior, which didn’t help the view of women. With the influences of music, and blacks defining their own blackness identity throughout Britain, the Black British culture has made a lot of progress in society as a whole. Like America, Black British was portrayed as invisible, criminals, and also accompanied lower positions in the labor market.However, today Black British are occupying better paid jobs, political positions, and incorporation their own identity and culture within the British society. Black British has various aspects of their culture however music is one I find very interesting and very influential to the blacks in Britain. Today, a lot of the Black British music is seen in America, also during the past this type of music impacted individuals in Am erica, so not only is Black British culture influencing Britain, and Europe it also influences America and other countries around the world.

How systematic were Peter the Greats plans for meeting Russias needs and how effectively did he carry them out essays

How systematic were Peter the Greats plans for meeting Russias needs and how effectively did he carry them out essays When Peter inherited the throne in Russia in 1689, he was dismayed by its backwardness. His vision was to Westernise it. To answer the essay question, I first need to identify the needs of Russia. These were to improve the economy of Russia, to harness the support of the nobility, improve defence and administration, enhance diplomatic ties with the West, to secure ice free ports, and to improve education. Peter found answers to many of his problems in Russia by transplanting ideas from the West. When he said after his humiliation at Narva that Russia would learn from the Swedes how eventually to defeat them, he was expressing his underlying attitude to change. In 1697-1699, he went on a Grand Tour of England and Holland called the "Embassy to the West". This was for diplomatic and technological reasons - to harness support of the West against the Turks and bring back skilled workers to Russia. After visiting Versailles in 1717, Peter began to upgrade the courtly image, employing a variety of foreign artists and architects. However, his main emphasis was still practical, as shown by the fact that the most important building housed the Senate and Colleges, not court. Peter promoted direct contact with French, Dutch, German, and English cultures and removed his court from the conservative atmosphere of the Kremlin and established a new capital at St. Petersburg. Peter's vision was on a far grander scale than Louis XIV's however, as it can be said "the problem of Paris was solved by Versailles, that of the Kremlin by St Petersburg". Peter was also open to the influence of western advisers in trying to promote commercial enterprise to build up a class of entrepreneurs. He was also determined to introduce new fashions, based largely on those in the West. Beards and traditional Russian clothes were either banned or heavily taxed. Under Western influence, Peter introduced a number of humanitarian measures - Moscow's first pharmacies and ho...

Free Essays on High Efficiency Cooling Fan For An Automobile

High Efficiency Cooling Fan for an Automobile A cooling fan for a standard automobile provides cooling to the radiator when the forward motion of the automobile isn’t sufficient to do the job. The fan will be connected to the drive shaft of the engine by a belt. There is a bearing in the fan to allow the fan to spin freely during sudden speed changes from the engine. The combustion engine runs more efficiently at higher temperatures, but if the engine gets too hot you run the risk of damaging the engine. The fan helps control the temperature so that the engine stays at a good operating temperature of 190-200 degrees F. The purpose of this report is described below in the design objectives. Design Objectives: 1. Determine the basic design of the cooling fan and all of the factors it will experience during usage. This includes the forces on the fan, usage, the environment, and the maximum and minimum operating conditions. 2. Study and select at least 5 materials for fan manufacture. At the end of the study, select the best material from the five. 3. Consider all factors of each material, including cost, strength, durability, ease of manufacture, and aesthetics. Basic Design of the Cooling Fan The purpose of identifying the basic design of the cooling fan is so that I can determine what materials would have the best characteristics for that design. Depending upon what type of engine and vehicle you are trying to cool, the design may vary from blade size and the number of blades required to cool the radiator. To sufficiently cool the radiator properly the fan must be able to provide a flow of air to the entire radiator. The size of most radiators varies, depending upon the size of the engine and how much coolant has to be passed through the engine. Typically, the bigger the engine, the bigger the radiator. For this report I will assume that we are trying to cool a radiator for a V8 engine. A common radiator... Free Essays on High Efficiency Cooling Fan For An Automobile Free Essays on High Efficiency Cooling Fan For An Automobile High Efficiency Cooling Fan for an Automobile A cooling fan for a standard automobile provides cooling to the radiator when the forward motion of the automobile isn’t sufficient to do the job. The fan will be connected to the drive shaft of the engine by a belt. There is a bearing in the fan to allow the fan to spin freely during sudden speed changes from the engine. The combustion engine runs more efficiently at higher temperatures, but if the engine gets too hot you run the risk of damaging the engine. The fan helps control the temperature so that the engine stays at a good operating temperature of 190-200 degrees F. The purpose of this report is described below in the design objectives. Design Objectives: 1. Determine the basic design of the cooling fan and all of the factors it will experience during usage. This includes the forces on the fan, usage, the environment, and the maximum and minimum operating conditions. 2. Study and select at least 5 materials for fan manufacture. At the end of the study, select the best material from the five. 3. Consider all factors of each material, including cost, strength, durability, ease of manufacture, and aesthetics. Basic Design of the Cooling Fan The purpose of identifying the basic design of the cooling fan is so that I can determine what materials would have the best characteristics for that design. Depending upon what type of engine and vehicle you are trying to cool, the design may vary from blade size and the number of blades required to cool the radiator. To sufficiently cool the radiator properly the fan must be able to provide a flow of air to the entire radiator. The size of most radiators varies, depending upon the size of the engine and how much coolant has to be passed through the engine. Typically, the bigger the engine, the bigger the radiator. For this report I will assume that we are trying to cool a radiator for a V8 engine. A common radiator...

Essay on The worlds pastas and grains

Essay on The worlds pastas and grains Essay on The worlds pastas and grains Italy Grains Rice- Italy being the largest rice producer in Europe. Although the Italians do not eat much of it, Italy is still famous for its risotto and varieties of other rice developed for this purpose. Barley- A grass that produces an edible grain, commonly used in a lot of soups. Pastas Fettuccini- Long ribbon shaped pasta that is well known for being used in â€Å"Fettuccini Alfredo.† Spaghetti- Long, thin, cylindrical shaped pasta used in a variety of dishes in Italy. Creamy Asparagus Risotto 2-1/2 pounds asparagus, trimmed, tips cut off and reserved Salt 8 cups chicken stock or canned low-sodium broth 3/4 cup extra-virgin olive oil 3 medium shallots, minced 3 garlic cloves, minced 3-1/2 cups arborio rice (1 pound) 3/4 cup dry white wine 1 tablespoon unsalted butter 1 cup freshly grated Parmesan cheese (3 ounces) Freshly ground pepper Directions: 1. Cook the asparagus tips in a medium saucepan of boiling salted water until just tender, about 2 minutes. Using a slotted spoon, transfer the tips to a colander and rinse in cold water; drain well. 2. Break the asparagus stalks in half. Add them to the boiling water and cook until very tender, about 10 minutes. Reserve 1/3 cup of the cooking water, then drain the stalks. Puree the stalks with the reserved cooking water in a food processor. Using a rubber spatula, work the puree through a coarse sieve; you should have about 2 cups. 3. In a medium saucepan, bring the stock to a simmer. Meanwhile, heat the olive oil in a large, heavy saucepan. Add the shallots and cook over low heat, stirring frequently with a wooden spoon, until softened but not browned, about 4 minutes. Add the garlic and cook until the shallots are lightly browned, about 2 minutes. Add the rice and stir over moderate heat to coat the grains with the oil. Pour in the wine and continue stirring until the wine is almo st evaporated, about 2 minutes. 4. Add 1 cup of the hot stock and stir constantly until almost absorbed. Continue adding the stock, 1 cup at a time, stirring constantly until it is absorbed before adding more. When the rice is almost tender, after about 15 minutes, add the asparagus puree. Continue to cook,

Literature review Essay Example | Topics and Well Written Essays - 1500 words

Literature review - Essay Example A study of empirical literature has been carried out with the example of retail industry and considering Wal-Mart as the multinational organization with its operation in several countries being examined under the review. Issues for Multi-national Organisations The various issues for the multinational organization with the example of Wal-Mart as a major player in the retail industry have been discussed below. Strategies of the organization The multinational companies operate in various countries either by establishing its own facilities or with the help of joint ventures. These multinational organizations are thus exposed to country risk of various countries (Butler, 1993, p.58). Wal-Mart, for example Wal-Mart operates around 8500 stores in around 15 countries all over the world and function under 55 different names in several countries. ... Thus the organizational strategies and decision making with respect to these issues are important as the multinational entity would need to take decision of selling the ventures that are not deemed to be profitable in future times. The multinational organization also needs to strategically invest in ventures that would prove to be profitable in future (Jolly, 2003, p.62). These strategic decisions need to consider the issues related to country risk which entails an examination of the political, economic, social, technological and legal environment in the region of investment. Marketing issues The marketing issues, the developments of the various local markets are important areas of consideration for the multinational corporations. The age of globalization has witnessed several new entrants in the local markets and the threat posed by the competitors raise concerns for the multinational companies for retaining their market share. Thus the multinational companies should continuously up date their marketing strategies in order to counter the steps of the competitors for holding their market share in various countries (Solberg, 2002, p.50). Wal-Mart for example being the largest grocery retailer and having presence in around 15 countries are required to anticipate the changing market conditions and demands of the consumers in order to retain their leadership position in the retail industry. Although, the market share of Wal-Mart is three times that of its nearest competitor, Carrefour, the multinational company needs to continuously adopt innovating strategies and respond to the changing lifestyle of the consumers which are market specific for different countries. The multinational companies also

Lola Rennt ( Run Lola Run ) ( Tom Tykwer,1998) Essay

Lola Rennt ( Run Lola Run ) ( Tom Tykwer,1998) - Essay Example The three different endings of the film significantly experience intrigued, delight, annoying or sometime it also frustrates viewers trying to make any sense behind these three sequels (Ebert, 1999; Wilson, n.d.). Emphasising on different views and summary plots of the film, the essay critically explores one of the major extracts of the film RLR and provides effective learning outcome from the three alternate endings of the film. In this regard, the discussion of the essay delivers understanding and viewpoint about the script and how it can be evaluated in our day-to-day life. RLR represents jeopardising situations through its three distinctively developed alternate endings. According to the story of the film, it has been critically identified that the script of RLR is a blend of few major attributes that reflects a sense of intrigue, delightful, annoyance and frustration characteristics. Lola gets a panicky phone call from Manni, her boyfriend who appeared in the film as a trainee drug-runner. Due to the vulnerable consequences of his current position, Manni becomes more panic stricken and immediately blames Lola for not showing him up at the right time. Lola clarifies that â€Å"her moped had been stolen.† Desperately, Manni reveals that he had to walk to the subway with a full bag of one hundred thousand Deutschmarks as she had failed to show him up at the early stage of engagement with drug-running. He becomes scared due to the presence of two guards and leaves the subway train without the bag. However, within twenty minutes of the incident, he immediately meets with the criminals and is claimed about that one hundred thousand Deutschmarks or else he will be killed. At that time Lola gives her assurance to do something for her boyfriend and determines to save Manni from the â€Å"die spiral† (Ebert, 1999; Wilson, n.d.). Director Tykwer has dramatically represented the

BRAND MANAGEMENT & RESEARCH Essay Example | Topics and Well Written Essays - 2250 words

BRAND MANAGEMENT & RESEARCH - Essay Example We recommend Walmart to continue building its brand image not with just customer perspective but from employee and ethical perspectives as well. With its unique positioning it should continue to expand with market penetration and market expansion. Development and projection of its own brand Great Value will also help in increasing its brand value and trust of the customers and will help in maintain its positioning as low price provider by eliminating the margin of the manufacturers. Walmart is a strong brand and can even become stronger by following these strategies. 11 References 12 Introduction In this highly competitive globalized world, markets are flooded with plethora of products and services of various brands. Consumers are literally spoilt with choice. In such an environment the importance of brands has increased manifold both for the consumers and the organizations. Brand management is vital from many aspects for any organization but the most important role is providing the differentiation to the brand from competitors and other products. Brands are part of the company’s intellectual property. ... The company through its brand, make it clear what they promise and deliver to the customer based upon their vision and strategy for the future of the business and the product. It is very important for the company to have a clear understanding of the expectations of the customers and living up to those expectations. The aim of brand management is to build a healthy relationship between the customer and the company through their brand. Brand management is extremely important for the companies. Brand image can be the determining factor between success and failure of a company (Riezebos et al 2003) Today corporations spend millions on brand establishment and maintenance due to the increased importance of branding. Researchers have tried to identify the scope, domain and potential of branding. It has resulted in many different frame works, theories and concepts. Although there are mainly seven different approaches of branding but the brand strategy should be customized to meet the specifi c challenges and opportunities specific to a brand at a specific point of time. One approach of branding is economic approach where brand is part of the traditional marketing mix. The identity approach links brand with corporate identity. Consumer based approach gives prime importance to customer satisfaction and customer associations. Personality approach treats brand as a human like character. The relational approach treats brand as a viable relationship partner. The community approach treats brand as a vital point of social interaction, whereas brand is treated as part of the broader cultural picture in the cultural approach (Heding et al. 2009) Whatever approach the companies utilize for the establishment and maintenance of the

Stopping the Sprawl at HP Essay Example | Topics and Well Written Essays - 1000 words

Stopping the Sprawl at HP - Essay Example He is actually pushing for major changes that would result in the scrapping of thousands of smaller projects at the decentralized company to focus on a few corporate wide initiatives as well as scraping off more than 700 isolated databases. These would then be merged into one company data ware house that would effectively alter the structure of the company and its operations. In fact, all the company information would be processed from one system which would be more efficient. The makeover would have more positive impact than any other HP advertising campaign. If successful, this would reduce HP’s annual spending on technology by about half. It will give impetus on HP especially on how to capitalize on its vast product breadth where the company has been operating like a large conglomerate of separate companies instead of one entity. In brief he is trying to integrate all the information about HP into one big single entity that would make it relatively easy to measure performance. However, all these initiatives would have an impact especially on structure of HP. The $1 billion data warehouse initiative would see the possible laying off of thousands of workers as the improved system would be manageable by few people from centralised control points. Indeed this would improve efficiency and accuracy of data but the company structure would require less staff. Basically, from the outlined endeavors above, Mott is trying to make IT take root in the company’s culture which has been resistant to technological changes such as centralised control. The ultimate purpose is to make sure that all HP’s businesses are working from one set of data that would make it easy to monitor and check progress as well as making fast, informed decisions. 2. The culture of HP has been firmly embedded in their traditional way of doing things such as operating from decentralized operating

How convincing is Porters model of national competitive advantage in Essay - 3

How convincing is Porters model of national competitive advantage in explaining the characteristics and performance of the business systems of major economies - Essay Example There are some critical factors within this model such as demand and factor conditions, firm’s strategy, competition and structure, chance factors, supporting and related industries, and government intervention. Porter’s model of national competitiveness is regarded as an appropriate framework for evaluating firm’s competitive position. On the contrary, this model is not considered as a suitable framework from economist’s perspective. It is stated as a model that helps to determine competitive position of a company rather than a country or nation. This study would reveal real world scenarios where Porters model was beneficial enough to analyze competitive position of nations. The study has been divided into various subsections where theoretical model will be elaborated along with its application on nations. Michael Porter designed a new model to analyze the reason behind firms belonging to specific nations happen to design better strategies in comparison to other firms. Porter took into consideration ten countries such as UK, Germany, USA, South Korea, Japan, Italy, Denmark, Sweden, Singapore and Switzerland (Davies and Ellis, 2000). The main objective for designing this model was to identify why some regions possesses competitive advantage compared to rest. Diamond model was designed by Michael Porter was to predict sector’s or country’s competitive advantage. This particular model has been elaborated in figure1. As per figure1, this model helps in designing a structure required for achieving competitive position in a sector. The factors of this model play a significant role in context of achieving competitiveness for long-term (Smit, 2010). All the factors represented within diamond model are determinants of sectors. These factors encompass skills and assets which are important for competitive advantage of an industry. It even consists of information that provides guidance

Stopping the Sprawl at HP Essay Example | Topics and Well Written Essays - 1000 words

Stopping the Sprawl at HP - Essay Example He is actually pushing for major changes that would result in the scrapping of thousands of smaller projects at the decentralized company to focus on a few corporate wide initiatives as well as scraping off more than 700 isolated databases. These would then be merged into one company data ware house that would effectively alter the structure of the company and its operations. In fact, all the company information would be processed from one system which would be more efficient. The makeover would have more positive impact than any other HP advertising campaign. If successful, this would reduce HP’s annual spending on technology by about half. It will give impetus on HP especially on how to capitalize on its vast product breadth where the company has been operating like a large conglomerate of separate companies instead of one entity. In brief he is trying to integrate all the information about HP into one big single entity that would make it relatively easy to measure performance. However, all these initiatives would have an impact especially on structure of HP. The $1 billion data warehouse initiative would see the possible laying off of thousands of workers as the improved system would be manageable by few people from centralised control points. Indeed this would improve efficiency and accuracy of data but the company structure would require less staff. Basically, from the outlined endeavors above, Mott is trying to make IT take root in the company’s culture which has been resistant to technological changes such as centralised control. The ultimate purpose is to make sure that all HP’s businesses are working from one set of data that would make it easy to monitor and check progress as well as making fast, informed decisions. 2. The culture of HP has been firmly embedded in their traditional way of doing things such as operating from decentralized operating

GAME NOT OVER YET, NOT YET....ELECTRONIC ARTS Essay

GAME NOT OVER YET, NOT YET....ELECTRONIC ARTS - Essay Example This acts as a competitive advantage for the organization of EA as per industrial organization view. Not only this, according to resource based view, the sustainability of the firm mainly depends on its tangible and in-tangible resources. This might prove effective for the organization in enhancing its efficiency and popularity in the market among others thereby reducing its threat for new entrants. Apart from this, in order to enhance the net income and demand of the products of the organization, low cost unconventional strategies such as flash mobs, street art and many others are used. By doing so, the level of awareness and reputation of the organization enhances to a significant extent among others as stated by Guerrilla view. Yes, EA exhibited critical success factors in order to enhance its brand portfolio and profitability in new business context. Apart from other resources, the management of the organization of EA recruited highly experienced and talented individual from Apple, Xerox PARC, Atari and VisiCorp in order to enhance its dominance in the segment of online games and video games. This acted as a boon for the organization thereby amplifying its scope of success in the market among others. This is mainly because; they help in enhancing the inner talent of the workforces thereby amplifying the scope of invention. Due to which, the organization became able to cope up with changing preferences of the customers that enhanced its image and value in the market among others. In order to enhance its image, EA offered more attention over its tangible resources and so it recruited extremely talented and knowledgeable staffs within the organization. These resources are extremely essential for the organization so as to invent new product lines and so they are regarded as unique (Allen & et.al, 2011). An organization like EA might suffer from the issues

Police Department Roles and Functions Essay Example for Free

Police Department Roles and Functions Essay There are many various functions of police agencies. Patron, traffic, juvenile services, intelligence and undercover, and special operations are just some of the various functions of police agencies. There are many differences between the functions of the police agencies and the federal, state, and the local levels. There are reasons of why you need to have various functions and roles of policing in any community. There are a few various functions of police agencies such as patrol, traffic, juvenile services, intelligence and undercover, and special functions. There are many functions of the patrol and consists of protecting the lives of people and their property, repression of criminal and delinquent behavior, identification, apprehension and conviction of offenders, traffic flow, collision reduction, maintenance of order and public safety. Patrol functions are a major part of policing agencies. Traffic functions consist of identifying potential traffic problems and hazards, arresting offenders, investigation property damage and personal injury automobile accidents, regulating parking on the streets and municipal buildings (Grant Terry, 2008). Traffic functions keep the roads safer and make things flow better for traffic. Juvenile services are there to help juvenile offenders go to counseling and counseling for the juvenile’s families. There are also programs that can help juveniles learn about drugs, alcohol, abuse and gangs. There is a program called (D.A.R.E) Drug Abuse Resistance Education. (GREAT) Gang Resistance Education and Training is another program that is used to inform the youth group about the negative impact of gangs. Intelligence and undercover is where officers go and use a different identification so that they can get closer to suspects or fugitive or get evidence (Grant Terry, 2008). They may have to live in different places and dress as complete different people then who they are so that they can  fit in to the environment they are trying to get close to. The last function is the special operations that consist of S.W.A.T and the canine unit. The S.W.A.T stands for special weapons and tactics and they functions are dealing with high risk law enforcement such as hostage situations and arresting people that are armed and dangerous suspects. The canine unit is having a police dog that helps on searches. Searches could be consisting of drug investigations, tracking and searching for victims or suspects, vehicle searches, and searching of buildings (Grant Terry, 2008). The police agency functions differ from the federal, state, and local level. The federal has two main functions that split into a few different functions. The Homeland Security and Department of Justice have many functions. The Homeland Security has the Bureau of Customs and Border protection (CBP) and this helps make sure that people and cargo are crossed borders legally and safely. Bureau of Immigration and Custom Enforcement known as (ICE) works with the smuggling of drugs and weapons. It also helps remove illegal immigrants that should not be across the borders. ICE also helps protect and secure federal buildings. FEMA is the Federal Emergency Management Agency and their goal is to help prevent man-made disasters from destroying cities. FEMA also helps after man-made disasters happen with providing food, water, and shelter to the people that have homes that are destroyed or have no stores that have food remaining for them to eat or drink. Department of Justice has a few functions as well that are to help protect on a higher level than the police agencies. Drug Enforcement Administrators (DEA) deal with enforcing laws that pertain to controlled substances. The Federal Bureau of Investigations (FBI) has many functions. They protect against any kind of terrorist attack against the country, foreign intelligence operations, cyber based attacks, public corruption, and white collar crimes. The Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) deal with the investigations of the trafficking of illegal firearms. The ATF also enforces federal laws that pertain to federal taxes on alcohol and tobacco (Walker Katz, 2011). The federal and the police agencies have many differences. The federal have more of a variety of different functions than the police agencies. The state does not have as many functions as the federal but still have functions that make a difference. The State has some functions that the police agencies also have. The State has different kind of  officers. There are State police and Highway patrol officers that patrol the highways statewide. They also have power to give traffic violations, criminal investigations, and arrest non traffic violators (Walker Katz, 2011). The police agencies also do a lot of patrol just like the state police. The local levels are a lot like the police agencies. They have municipal officers, county police and they hav e sheriffs that patrol city roads. They attend to more serious crimes that are committed in the city. The local level deals with order maintenance problems and emergency services (Walker Katz, 2011). The county police have the same functions as the municipal officers but can operate countywide. The sheriffs have more functions than the municipal officers and the county police. The sheriffs have to go to courts and deal with corrections. When it comes to the community all of the policing agencies are very important. There are many functions and roles that help keep a safe community. If there are limited policing agencies in the community it could raise the rate of crime, accidents, and deaths. With having the functions in the communities it helps make the people of the community feel safer knowing that the policing agencies are out patrolling the streets whether it is by foot, bike, car, or horse. Without having the functions of trafficking there would be more accidents on the roads or highways. If the juvenile services the younger generations may not have the resources to learn about awareness programs for drugs, alcohol, and abuse. They may not have the opportunity to change their lives by attending counseling to help better themselves. Without having undercover officers it would be a little harder to catch suspects before they actually commit a crime. Even though not all cities have the canine unit, the canine unit helps search for things that the human nose cannot detect as well as a dog can. The canine unit is a very big help for searches when victims are missing or are searching for drugs. There are many functions and roles for all police agencies no matter how big or how small the agency is. There are many differences between the police agencies and the federal, state, and local level. But there are also some functions that are the same. Without having functions of all the police agencies there would be more crime and accidents within the cities and states. Having as many functions in all the policing agencies makes this place a safer place for everyone. References Walker, S., Katz, C.M. (2011). The police in America: An introduction (7th ed). Grant, H.B., Terry, K.J. (2008) Law Enforcement in the 21st Century(2nd ed).

Case Study On Eastman Kodak

Case Study On Eastman Kodak Eastman Kodak is in most certainty the story of an organization that has failed to correctly manage and implement change. The company which was enjoying sales of around US$10 billion in 1981 has a net income of only US$139 million in 2005. Kodaks brand value also slipped down dramatically. An estimated US$2.6 billion was lost owing to the decrease in organizations brand value. A number of factors played an important role in Eastman Kodaks tragic decline. The most important factor that contributed to Kodaks demise was the rigid thinking on part of its management that stopped them from taking timely initiative towards adoption of digital technology in digital communications segment of the company. Another important letdown related to change implementation occurred when Kodaks management failed to realize that it needs to continuously monitor the changes occurring in the environment and then take small continuous steps towards complete adoption of a particular change if analysis reveals that it is good for the overall organizational well being. In the ensuing paragraphs a detailed discussion will be carried out examining what went wrong at Eastman Kodak and what are the possible remedial steps that can be taken. Problem 1: Kodak missing the information age The biggest strategic blunder committed by the management of Eastman Kodak was that it failed to correctly anticipate the needs of changing time. While the competitors around them were constantly innovating and coming up with new products in line with the changing needs of the market, the management at Kodak was happy being stuck with the old products and ways of thinking. A big factor contributing to the amazing collapse of Kodak was managements approach towards finding solutions to strategic problems being faced by the organization. The Rational Thinking Perspective (RTP) was successfully utilized by Kodak in its infancy when RTP was the main perspective being used by leading businesses around the globe but, as time passed and fierce competition started emerging Kodak ignored the need to change its core business technology from silver-halide film technology to the digital technology. This failure to foresee change and sticking to RTP was a huge strategic blunder on part of Kodaks m anagement and could well have been avoided had the management at Eastman Kodak used Generative Thinking Perspective (GTP) to solve the strategic problems being faced by the organization. Rational Thinking Perspective (RTP) versus Generative Thinking Perspective (GTP) The followers of Rational Thinking Perspective (RTP) notably Kenneth Andrews argue that the strategy analysis and formulation stages should be carried out with due diligence and with extreme care (Erasmus Schenk, 2008). The proponents of RTP believe that the issues being faced by organizations are adequately clear and a thorough analysis of relevant data will reveal the future course of direction that should be chosen (Oliver, 2009). The RTP can easily be broken down into four main stages starting from data analysis and setting of strategic objectives followed by planning stage to carrying out the implementation of the defined objectives (Wit Meyer, 2010). The followers of generative perspective school of thought (GTP) reject the RTP by saying that in the fast paced world of today the rational and systematic logic cannot be used for decision making (Paauwe, 2004). GTP argues that enterprise problems can only be solved by interactive actions. GTP believes that strategy making is a p rocess of reflecting, envisioning, experimenting and learning that can never be neatly organized, programmed or conceptualized (Hoogervorst, 2009). Strategies to resolve the problem Kodak totally depended on the strictly logical Rational Thinking perspective (RTP) in the production and sales of cameras and films which allowed competitors to slowly snatch the market share of Eastman Kodak in the camera industry it previously dominated. Kodak could easily have avoided the losses in revenues at the hand of fierce competition from rival organizations had the management used Generative Thinking Perspective (GTP) to tackle the changing environment needs. GTP, with its emphasis on using intuitive approaches to meet emerging challenges in the marketplace, would have helped Kodaks management in foreseeing that it needs to move from the traditional film camera to the digital camera in order to keep in line with changing consumer needs. Problem 2: Extreme times need extreme measures Kodaks lack of initiative to adapt to changing needs of the market was another reason for the organizations gradually faded into oblivion. The management of the organization, led by Daniel Carp failed to realize the looming danger in the forms of innovative product offering by rival organization. The introduction of Mavica, a filmless digital camera by Sony Corporation as early as 1981 should have served as a warning signal for Kodaks management, but the top management failed to foresee the looming signs of a disaster. A provocative management team would have adopted the Continuous Renewal Perspective (CRP) as early as the 1980s to gradually start making progress towards complete adoption of digital technology solutions. The strategy to use CRP would have immensely helped Kodak in maintaining its crown as the undisputed market leader in the camera industry. The Kodaks management woes dont stop here, years later when the digital technology totally rule the camera manufacturing industr y, the management is still confused as to whether it should or should not go for DRP as it entails the management to assume the level of risk it is simply not used. Discontinuous Renewal Perspective (DRP) versus Continuous Renewal Perspective (CRP) There are two main perspectives that describe how change is brought about in an organization. The first perspective i.e. the discontinuous renewal perspective (DRP) argues that change should be rapid and radical (Cummings Worley, 2009). The DRP involves a rapid change in the structure, technology, people and strategy pursued by the organization (Lussier, 2008). The supporters of DRP believe it is an excellent process to follow in case an organization has to make a transformational change since it will help the organization to quickly respond to external disruptions and quickly reach a period of smooth growth (Daft, 2009). The other perspective i.e. the continuous renewal perspective (CRP) argues that introducing change in an organization should be a process of continuous improvement (Crowthe Green, 2004). The proponents of CRP argue that it is a very profitable process to follow for the entire organization, since these changes can be carried out with the accepted organizational fra mework and value systems without making unnecessary changes to organizational structure (Weick Quinn, 1999). Strategies to resolve the problem In the early 1980s the management of Eastman Kodak should have started the process of slow transforming their key resources from silver-halide film technology to digital technology, but they did not take any concrete step in this regard. Years later, with the rivals now possessing state-of-the-art digital technologies Eastman Kodak is now left with no choice and solution but to undergo a radical revolutionary change towards adopting the digital technology in all stages of the post-digital photography value chain. The management of Kodak must however by very careful in making the transition as any mistake at this point would spell serious trouble for the future of the firm. Problem 3: Dilemma of choosing between MBV and RBV Film, paper, chemicals and photo processing were the four areas where Kodak traditionally held supremacy over its rivals but, with the advent of new age of digital technology Kodak could no longer reap benefits out of the old sources of competitive advantage. The fundamental problem being faced by Kodaks management is that Kodak does not hold any advantage over its rival organizations when it comes to possessing new age photography resources such as digitization technology along with storage, retrieval, transmission, manipulation and projection solutions. The advent of digital age has put Kodak in a serious dilemma, in order to compete with its rivals it has to move into the digital printing medium, an area where Eastman Kodak naturally has no experience in. In order to move into the digital printing medium Kodak has to compete with organizations such as Sony, Mitsubishi, and Canon who have their core competency oriented towards the digital technology. Resource Based View (RBV) versus Market Based View (MBV) The Resource Based View (RBV) opines that each firm should within its boundaries to find out that precious blend of resources that are valuable, costly and are rare to imitate (Sanchez, 2008). Once an organizations key resources are identified the management should then mount a search to discover for the markets where those resources can be utilized (Matlay, 2005). The RBP is also known as an inside-out approach to organizational decision making whereby an organizations core competency is defined by the way it leverages and exploits its resources (Schwenker Spremann, 2009). As compared to the RBV, the Market Based View (MBV) emphasis that an organization can only gain crucial advantage over its competitors if it looks towards the threats and opportunities existing in the marketplace (Enders, 2004). The MBV has an outside-in perspective which emphasizes that a firms position in the marketplace is an extremely important determinant of its success or failure (Woodside, 2008). Strategies to resolve the problem In order to compete with the changing business scenario a new strategy was announced in September 2003 in which Kodaks management aimed to pay complete attention on display and inkjet segments of the market. This change in Kodaks strategy comes with the change in the needs of the target market with customers moving away from the film based cameras to digital cameras. The supreme focus of firms in the photography business is on capturing the customers who believe in printing hard copies of digital images by offering them various options such as desktop inkjet printers, printing at kiosks etc. Kodak has taken up the challenge by setting up minilabs and kiosks where customers can come and easily get a hard copy of their digital photos. Kodak needs to carefully present its offering to its intended target market as it has to compete with a number of settled players with extensive technical expertise in the digital photo-finishing market. Problem 4: Dilemma between choosing competition or cooperation in strategy Kodak, facing the daunting challenge of competing with technologically superior organizations launched an aggressive campaign of acquiring companies and latest technologies in order to address the ever changing needs of the consumer market. From the acquisition of Scitex Digital Printing to forming strategic partnership with Verizon Wireless and buying a 50% stake in Nexpress Solutions, Kodak embarked upon a massive strategic partnership making mission that resulted in depressed cash flows for the organization and created disinterest among the investment community. Kodaks decision to aggressively pursue Embedded Organization Perspective (EOP) was seen as a desperate attempt by the organization to build its resource base in the imaging industry, an area where it hardly gives any competition to its rival technologically superior organizations. Discrete Organization Perspective (DOP) versus Embedded Organization Perspective (EOP) The Discrete Organization Perspective (DOP) views organizations as autonomous units that compete with other organizations in an extremely hostile external environment (Wit Meyer, 2010). According to this perspective each organization is taken as being detached from its environment and having a sharply defined boundary that sets it apart from the external world (Ostroff Judge, 2012). The managers having DOP believe that relationship with other organizations should be kept formal and too much dependency on outside organizations should be avoided since it can lead to the rival firm taking undue advantage of the organization (English, 2011). The Embedded Organization Perspective (EOP) believes that business is not all about being at war with other organizations in the marketplace. According to EOP the main aim of business is value creation and organizations can only maximize value when they work together to achieve a common goal (Wit Meyer, 2010). Strategies to resolve the problem The management of Eastman Kodak should make sure that they do not take hasty merger and acquisition decision as it would send wrong signals both to the investment community and the customers alike. At this crucial juncture in the history of Kodak, each and every decision should be taken keeping the best interests of the organization in mind and in order to do so the management must first thoroughly examine if a merger and acquisition decision will be profitable for the organization and what effect it will produce on potential customers and investors of the firm. The management at Eastman Kodak must first clearly define its intended target market and then develop partnership with organizations which can help Kodak in offering highest quality products and services armed with latest technology to the consumers. Problem 5: Dilemma between choosing competition or cooperation in strategy Eastman Kodak faces the dilemma between choosing a globalization or localization strategy. The old and outdated model of sales based on the traditional analogue technology has proved to be successful in some of the emerging Eastern markets predominantly the Chinese market but, in the competitive Western market where the competition is much more severe and rival organizations have developed their core competencies strictly on the more advanced digital technology Kodak needs to quickly get its core technology in line with their competitors. Global Convergence Perspective (GCP) versus International Diversity Perspective (IDP) The Global Convergence Perspective (GCP) puts forward the argument of a boundary less world in which people with similar mindset see eye-to-eye. The opponents of GCP argue that imposition of foreign norms, values, behaviours and habits in their home country harms national culture and hurts the feelings of national sovereignty (Wit Meyer, 2010). As compared to the GCP, the International Diversity Perspective (IDP) argues that world must be kept a diverse place where national cultures are retained and local autonomy is given the highest value (Wit Meyer, 2010). It is a generally observed phenomenon that in countries where people have strong nationalistic views the International Diversity Perspective (IDP) can be successfully used by multinational organizations in promotion of their products and services while in countries with where nationalistic feelings are far less pronounced the Global Convergence Perspective (GCP can be successfully used for product and service promotion (Wit M eyer, 2010). Strategies to resolve the problem The management of Eastman Kodak needs to realize that while the old and outdated analogue technology may succeed in the emerging Eastern market, there are no bright prospects for the use of this obsolete technology in the more developed Western markets. It is right time now that the management of Kodak build-up a global strategy using the GCP which can help the organization to make use of its silver-halide technology in the emerging markets while at the same time incorporating the much more developed digital technology for producing and marketing its products and services in the Western market. Conclusion The management of Eastman Kodak committed a number of mistakes in running the business operation including its complete reliance on internal organizational competencies for an extended period of time and then abruptly changing the strategy to merge with and acquire a huge number of organizations sending wrong signals to the investment community. Although Kodak faces a number of challenges posed by the technologically superior rival organizations but, if it correctly uses management strategies aimed at constantly changing the organizational policies in line with industry benchmarks there are bright chances that Kodak can win back its lost position.

John Quincy Adams :: Biography Biographies Essays

John Quincy Adams Hello, I'm John Quincy Adams. I grew up in Braintree, Massachusetts, and when I became an adult I traveled with my father on his diplomatic missions until I became interested in political journalism at Harvard and eventually became he sixth president of the United States. During my lifetime, from 1767 to 1848, the United States was desperately trying to make allies, as the country was in it's infancy. I followed my father's footsteps, as I was working in foreign relations before I became President. I have experienced many great events, such as when I was appointed as minister to the Netherlands, a mere three days later I witnessed the French invade the country and overthrow the Dutch Republic. This was thought of by many as an attempt for the French to show the United States how strong it was, without exerting any force on them at all. On a different occasion, when I was appointed minister to Russia, I was the leading negotiator for the Treaty of Ghent with the British, which ended the War of 1812. These negotiations gained respect for the United States and me as a diplomat. I am a likable person wherever I go. When I was a kid, our family was very closely knit, as we all helped manage the farm, except for my dad, who was usually away in foreign countries. This didn't affect me very much since I joined up with him when I was 11 on his operations after my persistent asking. As President, I worked scrupulously to work out problems and provide leadership for the country. This was acknowledged by my fellow officials in office and by the country, as I'm thought of as a person with integrity and honesty. Louisa Catherine Adams, my wife, holds a special place in my heart. She has always been trustworthy and nice. As a child she had to deal with ill health frequently, (which often recurs), and as First Lady she held brilliant parties for my Cabinet and friends. Louisa and I had four children, but sadly they all died before they could have children of their own, all for various reasons. My only real enemy to speak of is Andrew Jackson. Before my administration, Jackson and his followers accused me of promising Henry Clay a cabinet post in return for his support. After I was elected, and I appointed Clay Secretary of State, Jackson's strong followers in Congress called it a 'corrupt bargain'.

Brand Name Clothes Essay -- Business Marketing

Brand Name Clothes Would you choose a friend based solely on their name? Of course not, the idea seems absurd. Is it possible, however, that we might use such a ridiculous method when selecting the type of clothing we wear? In my opinion, many of us do. Throughout my research, I will be testing the hypothesis that college students buy more brand name clothes than generic name clothes. In colleges especially, there seems to be an emphasis on appearances, so many students have a tendency to steer clear of clothing with generic names. Do they believe that generic name clothes are of less quality? This is another question I am hoping to answer through my research. In addition, I would like to determine the accuracy of my assumption that females are more inclined than males to buy brand name clothing. Nevertheless, I am a male yet I still tend to buy more brand name clothes. Regardless of our gender, we all must make decisions about clothing every day, even if the decision is only based on what smells clean. Because of this, I thought it would be interesting to find out the factors involved in the type of clothing we buy in the first place. What brands in particular do most college students prefer? Are we influenced by our family, friends, or the people we see on television? Are there any other reasons why we buy the brands we do such as their price, comfort, or popularity? If students really do buy more brand name clothing, is it because they are of better quality than generic name articles? In order to determine some answers to these questions, I have utilized three different research methods. First, I performed a survey of 20 students who are currently attending the Indiana University of Pennsylvania. Our c... ... Feel brand names are of better quality 50% 60% Feel generic names are of better quality 50% 40% Buy these clothing brands: Abercrombie & Fitch 40% 10% Aeropostal 50% 10% American Eagle 60% 50% Banana Republic 20% 20% Gap 30% 10% Pacific Sunwear 10% 10% Ralph Lauren 10% 10% Wal-Mart 10% 30% 9.99 Stock Room 30% 30% Other brand names 60% 90% Other generic names 0% 10% Influenced by: Friends 50% 60% Family 40% 20% Famous People 10% 10% No One 40% 40% Girlfriend 10% 0% Why buy the brands they do: Availability 10% 10% Fit/Comfort 30% 10% Looks 90% 80% Popularity 30% 20% Price 30% 40% Quality 50% 60%

Important Element in the Story’s Significance Essay

In the two short stories, â€Å"Little Things† by Carver and â€Å"The End of Something† by Hemingway, both authors make the title significant to the story’s message. The title â€Å"Little Things† is somewhat ironic in that the word ‘little’ could refer to the baby or could in fact be calling their argument petty, even though the child that they are fighting over is a major issue. This irony is significant to the story because even though the parents appear passionate about their infant, the argument clearly lies deeper. The title â€Å"The End of Something† could also refer to a number of things. In this story many things are coming to an end. The end of the mill and the town at Horton’s Bay, the end of Nick and Marjorie’s relationship, the end of their fishing trips and the end of their day. Both stories are about the end of relationships however, in â€Å"Little Things† the breakup is angry and violent whereas in â€Å"The End of Something† the breakup is calm and brief. The story â€Å"Little Things† is about the violent breakup of two parents. It is implied that they are married but Carver does not explicitly state this. The opening paragraph describes the weather and the time of day, which reflects the mood of the piece, the darkness of the evening mirroring the dark mood inside the house, â€Å"it was getting dark. But it was getting dark on the inside too. † This shows that although the mood was dark, it was not completely pitch black outside implying that there may still be a slight glimmer of hope for the young couple that is soon introduced. As the fight and the emotions become more reckless and brutal the light begins to fade, showing that all hope is lost. The characters in the story are not named. This gives their predicament a deeper sense of urgency and immediacy. This is used to great effect as when we first meet the man and women, the absence of names throws us directly into the middle of their quarrel. In this piece there is no need to build up the characters with a descriptive foreplay as it is not important to the story, making it more urgent. However in â€Å"The End of Something† we feel more sympathy for the characters as we have learned about them in more detail. From the line â€Å"he was in the bedroom pushing clothes into a suitcase when she came through the door,† we can deduce from the subtext that these people are in some kind of long-term relationship, and the second line of the same paragraph draws attention to the fact that they are having a heated argument. It is extremely common that in short stories a lot of information is insinuated rather than being clearly stated and so the reader must draw a meaning from the subtext. The woman is the first to speak. Carver does not use speech marks at all during the story in order to draw more immediacy to the article. The first line of speech â€Å"I’m glad you’re leaving! I’m glad you’re leaving! Do you hear? † shows that although the woman appears to be angry at her partner and glad that he is moving out it is easily noted that she in fact feels exactly the opposite. This is illustrated by the repetition of the line â€Å"I’m glad you’re leaving† showing that she is trying to reassure herself that she doesn’t need him. This shows irony. The woman continues to barrage the man with slurs, â€Å"son of a bitch†, obviously in an attempt to provoke his attention and convince him to stay. When she states â€Å"you can’t even look me in the face can you? † it is blatantly obvious that the man has had some kind of affair. The woman fails in catching the man’s attention and therefore when she spies the baby’s picture on the bed she takes it, out of spite. The man follows her; turning off the bedroom light as he leaves symbolising the end of their relationship, â€Å"looked around the bedroom before turning off the light. † The baby is also not named showing that although it is the child that they are fighting over, the battle about more and the baby is merely a pawn in their game of spite or revenge. The man states â€Å"I want the baby. † This immediately provokes maternal instincts from the mother who rushes to keep her child. The infant is continuously referred to as ‘the baby’ or ‘this baby’ showing that their child is solely an object that the couple are focusing their anger on. The man’s request for the baby is not because he necessarily wants the child from love but more because he sees it as a prize that he can win over the woman. Gradually their battle becomes more physical and violent as the man tries to take that baby from the woman, â€Å"in the scuffle they knocked down a flowerpot. † The baby senses the tension in the room and starts to cry which adds to the anxiety and desperation in the mood of the text, â€Å"the baby had begun to cry. † Throughout the rest of the story Carver intensifies the atmosphere by using urgent and effective words such as â€Å"screaming,† â€Å"red faced,† â€Å"gripped† and â€Å"hurting†. Nearing the end of the story the light is involved again, â€Å"the kitchen window gave no light,† this line exemplifies that there was no hope left for the couple and the baby. The lines become shorter to add to the fierce battle that the couple is suffering. The man and the woman both grab the child and pull it in different directions in a hope that one will triumph but we do not know the victor. The last line â€Å"in this manner the issue was decided,† leaves us pondering a number of possible out comes. The man or the woman may have succeeded in snatching the infant for themselves or they may have pulled their baby in two. If so the story appears to be a parody of the biblical story ‘The Two Women and Solomon’, in which a man offers to cut a baby in half to settle a quarrel between two woman as to who the mother of the baby is. In this story we are left with an ambiguous end. It is very common in short stories that the resolution of the story is left undecided, again leaving the reader to make their own conclusion from the clues given. The second short story â€Å"The End of Something† is also about the end of a relationship, however it is handled in a calmer and less violent manner. The first paragraph sets the scene of a calm deserted bay, once a busy lumbering town, now reduced to a citizen-free ghost town. The couple, Nick and Marjorie, are rowing through this bay in a calm fashion â€Å"they were trolling along the edge of the channel bank,† but they soon head towards â€Å"dark water† which shows that they are heading towards trouble. They are rowing soundlessly until Marjorie breaks the silence and begins to talk about the old mill on the shore, describing it as â€Å"our old ruin†; this shows that their relationship stretches back a long way. Nick answers unenthusiastically. Marjorie tries to keep up the conversation describing it as a castle, which shows that she sees ‘their’ ruin in a fairy-tale manner. However Nick is still distant which makes Marjorie have to work hard to keep their conversation alive. Marjorie appears to love everything about their fishing trips. She obviously loves Nick very much and is enjoying spending time with him, â€Å"She loved to fish. She loved to fish with Nick. † Clearly Nick is quite qualified at fishing and Marjorie tries to make him feel good by putting him in charge and asking him questions to boost his ego, â€Å"‘They’re feeding,’ Marjorie said. ‘But they won’t strike,’ Nick said. † By this Nick means that he will not strike that night. The couple carries out their actions of fishing with scarce communication and we can tell that something is clearly upsetting Nick as Marjorie is trying to provoke conversation but to no avail. When Marjorie questions Nick â€Å"What’s the matter Nick? † he replies â€Å"I don’t know. † The couple set out a picnic on the beach but we can tell that Nick is merely going through the motions as he says â€Å"I don’t feel like eating† and all it takes is one line from Marjorie and he agrees.

Fraud Case

THE NATION’S NEWSPAPER BS2003-01b Collegiate Case Study Adelphia founder, 2 sons, 2 others arrested in fraud By David Lieberman and Greg Farrell www. usatodaycollege. com Accounting fraud Part II: The results â€Å"Creative accounting† is not a new technique, but it can certainly be a costly one. Businesses feel the pressure to appear profitable in order to attract investors and resources, but deceptive or fraudulent accounting practices often lead to drastic consequences. Are these so-called creative practices always illegal or can they ever be justified? This case study will present examples of companies who have used inappropriate accounting practices, the results of their deceptions and the government's plan to avoid future incidents. WorldCom scandal brings subpoenas, condmnation By Andrew Backover and Thor Vladmanis Andersen’s partners chart firm’s future today By Greg Farrell Client-starved Arthur Andersen cuts 7,000 jobs By Greg Farrell Dominoes hit WorldCom partners, clients By Michelle Kessler Adelphia plans to file Chapter 11 Cable firm expected to seek bankruptcy protection today NEW YORK — The waiting should be over today. Adelphia Communications plans to file for bankruptcy protection, nearly three months after the onceproud No. 6 cable operator first disclosed dealings with the family of founder John Rigas that turned it into a symbol of corporate scandal. The company is expected to announce that it has raised as much as $1. 5 billion from banks led by J. P. Morgan Chase and Citigroup to keep operating while a bankruptcy judge decides how creditors will be paid. A Chapter 11 filing — the biggest in cable history — could help efforts to find a buyer for some, or all, of Adelphia's systems, which serve 5. 7 million subscribers. The court can protect an acquirer from unexpected liabilities, including those stemming from several shareholder lawsuits and investigations into Adelphia's finances by two grand juries and the Securities and Exchange Commission. The company could pay off its estimated $19 billion in debt if it can sell systems for $3,500 per subscriber, roughly the industr y norm. But stockholders could lose their entire investments. Adelphia shares closed Friday at 15 cents in over-the-counter trading. Case Study Expert: John D. Martin, Ph. D. Professor of Finance, Baylor University USA TODAY Snapshots ® Politicians role in monitoring business Opinion leaders1 say government should be more involved in oversight and regulation of private enterprise2: 52% 45% Agree Disagree Source: Edelman Public Relations Worldwide/ StrategyOne Research survey of 400 respondents. 1 – College educated 35- to 64-year-olds with household incomes of more than $100,000 2 – Does not add up to 100% due to rounding By Darryl Haralson Marcy E. E. Mullins, USA TODAY By Darryl Haralson andand Marcy Mullins, USA TODAY Reprinted with permission. All rights reser ved. AS SEEN IN USA TODAY MONEY SECTION, MONDAY, JUNE 24, 2002 And a sale may devastate Coudersport, Pa. , where Adelphia is headquartered. It's by far the largest employer in the rural, mountain town of 3,000. Meanwhile, Adelphia will tr y to reassure its subscribers. â€Å"Adelphia is committed to reversing its admittedly difficult present financial situation,† it wrote last week to 3,500 franchise officials. â€Å"Most importantly, there should be no change in service to Adelphia customers as a result of these developments. † Adelphia's downfall began on March 27, when it disclosed that a Rigas family partnership had borrowed $2. billion using company assets as collateral. The amount has since been raised to $3. 1 billion. That stunned analysts, who believed that the operator was already too deeply in debt. Barraged with questions, Adelphia put off release of its 2001 annual report. More questions were raised when it was confirmed that the SEC was investigating. As the stock plummeted, Nasdaq weighed delisting Adelphia shares. T hat took effect on June 3. After acknowledging that it would have to restate its earnings, Adelphia put several cable systems on the block. The company defaulted on bank loans and failed to make interest payments on bonds. And Rigas and sons Timothy, Michael and James were forced to relinquish their jobs and board seats. Then new interim CEO Erland Kailbourne stunned company watchers by disclosing a series of cases where the Rigas family allegedly used Adelphia for private gain. Among other things, the company paid for their apartments in New York, built a golf course on Rigas-owned land, helped the purchase of the Buffalo Sabres hockey team, created a Rigas-run investment firm and subsidized a documentary film. Cover story Adelphia founder, 2 sons, 2 others arrested in fraud Investigators say company was ‘personal piggy bank' By David Lieberman and Greg Farrell USA TODAY NEW YORK — For 50 years, John Rigas lived the American Dream. Half a century ago, the son of Greek immigrants left a job making TV picture tubes at Sylvania. The World War II veteran bought a small movie house and a newfangled business — a cable TV company — in the remote town of Coudersport, Pa. , and was on his way to making a fortune. But his oversized ambitions led him this week into an American Nightmare. Wednesday, Manhattan U. S. Attorney James Comey accused 77-year-old Rigas and two sons — Timothy and Michael — with â€Å"one of the largest and most egregious frauds ever perpetrated on investors and creditors. † Rigas attorneys were unavailable for comment. With TV cameras capturing the humiliating moment, the founder of Adelphia Communications, the No. 6 U. S. cable company, was led away in handcuffs here. He became the first CEO arrested in the latest wave of corporate accounting scandals and the most vivid symbol of whitecollar crime since Michael Milken and Ivan Boesky in the 1980s. Two other former Adelphia executives, James Brown and Michael Mulcahey, were picked up in Coudersport. Later in the day, Adelphia itself — which filed for bankruptcy-court protection last month — charged Rigas and his family with violating the Racketeer Influenced and Corrupt Organizations (RICO) Act, in a filing in Federal Reprinted with permission. All rights reser ved. Page 2 AS SEEN IN USA TODAY MONEY SECTION, THURSDAY, JULY 25, 2002 Bankruptcy Court in New York. The Rigases could be forced to pay three times any damages the court finds. The lawsuit alleges about $1 billion in damages. Behind their â€Å"small-town facade,† the Adelphia lawsuit says, the Rigases â€Å"used their domination and control of Adelphia, and their isolation from the scrutiny of the outside world, to engage in one of the largest schemes of selfdealing and financial wrongdoing in American corporate history. † The Justice Department and the U. S. Postal Inspection Service charged the five executives with securities, wire and bank fraud, saying they â€Å"looted Adelphia on a massive scale† and used it as a â€Å"personal piggy bank. Rigas private funds sloshed with Adelphia's in the same cashmanagement system. A U. S. judge set bail for the Rigases at $10 million apiece, secured by cash and property. Allegations against the Rigases range from big schemes to hide financial problems at the cable company to relatively small-scale thievery. For example, Timothy was accused of using a company jet for an African safari vacation in 2000. Adelphia's lawsuit adds that John's daughter, Ellen, used company planes to bring guests to her wedding to Peter Venetis, who became an Adelphia board member. The couple's cozy position enabled them to save $150,000 since 1998: They lived rent-free in two Adelphia-owned apartments on Manhattan's swank Upper East Side, the lawsuit says. In less than four years, the Rigases â€Å"stole hundreds of millions of dollars, and through their fraud (and) caused losses to investors of more than $60 billion,† Deputy Attorney General Larry Thompson says. The defendants could face jail time in the criminal case. By filing a complaint instead of a full-fledged indictment, the grand juries weighing evidence in the case can remain empaneled to approve charges against others. They have 10 days to indict those arrested, and 20 days to charge others. Also Wednesday, the Securities and Exchange Commission filed a civil lawsuit in U. S. District Court that's similar to the criminal complaint, and includes a third Rigas son, James. The SEC would bar the defendants from serving any publicly owned company. It also wants them and Adelphia to pay restitution and fines. Adelphia said in a statement that the claim against it would â€Å"only have the effect of further penalizing the company's stakeholders who were the victims of the Rigas' improper conduct. The Adelphia cases are low-hanging fruit for prosecutors eager to show that they're getting tough on white-collar criminals. â€Å"This is an old fashioned hand-in-the-till case that's easier to prosecute than an esoteric fraud like Enron,† says Jack Coffee, who teaches securities law at Columbia University. â€Å"To prosecute Enron, you're going to have to teach the jury an intermediate college course i n accounting. † Jacob Frenkel of Smith Gambrell and Russell agrees. â€Å"This could be sexiest of all the cases,† he says. â€Å"Here, you're talking about corporate looting. Every guilty disposition arising out of this indictment should become a show-andtell in all business schools as the antithesis of public company management and stewardship. † Talking tough, getting tough The arrests came as House and Senate negotiators agreed on tough measures, including jail time, for executives convicted of fraud. And Wall Street was impressed after weeks of growing fearfulness about a possible tsunami of corporate scandals. The Dow Jones industrial average soared 489 points Wednesday. That's the second biggest one-day point gain ever. That contrasts with the 179-point drop on July 9, when President Bush called for a new era of corporate responsibility. The arrests aren't â€Å"about Democrats and Republicans,† says Lynn Turner, former chief accountant of the SEC under President Clinton. â€Å"This is about investors, and they like what they're seeing now. † Even people who aren't obsessed with stocks seem to like the idea of big shots getting a comeuppance. â€Å"We are angry, and we have every right to be angry,† says futurist and consumer expert Marian Salzman of Euro RSCG Worldwide. There's a feeling that we need to kick out the evil-doers in the industry. † But some might recoil at the image of a dignified old man being led before the cameras in handcuffs. â€Å"They're actually going to look sympathetic,† says Robin Cohn, author of The PR Crisis Bible. â€Å"Why would you Reprinted with permission. All rights reser ved. Page 3 AS SEEN IN USA TODAY MONEY SECTION, THURSDAY, JU LY 25, 2002 handcuff an old man? He's not a murderer and a rapist. That's not to say they aren't crooks. But I think the public would rather see somebody they know in handcuffs — like (former Enron CEO) Ken Lay. And the incident could make the government look somewhat silly, she says. â€Å"I can't imagine Saturday Night Live not doing anything with this. † Corporate crime is in the spotlight these days. Last month, federal prosecutors arrested former ImClone CEO Sam Waksal on charges of illegal trading on inside information and obstruction of justice. Their investigation has expanded to include friends and family of Waksal, who also might have illegally traded on inside information about ImClone last December. Investigators are trying to determine whether any inside information was passed to Waksal's friend Martha Stewart, who sold her ImClone stock just before a Food and Drug Administration announcement, denying an application to market a cancer-fighting drug, drove the stock price down. In coming months, the Justice Department is expected to charge top executives of Enron and WorldCom with fraud. The department's Enron Task Force won one court battle last month when a Houston jury found auditor Arthur Andersen criminally guilty of obstruction of justice. It appears, though, that officials wanted to start off with a bang as they arrested the Rigases. â€Å"What's unusual here is the level of detail included in the criminal complaint, and the number of defendants arrested simultaneously,† says former prosecutor Robert Mintz, now at McCarter & English. â€Å"Usually, the government builds a case slowly, with eventual defections among defendants. Here, it has leveled a wide range of allegations against upper management. That suggests that the government believes it has strong case and that they expect a rush to the prosecutor's door by defendants who will vie to strike deals. The cases build on information that began to come out in late March. Adelphia disclosed then that the Rigases had used assets of the already debt-heavy company to secure loans to private, family-run partnerships. That borrowing is now put at $3. 1 billion. Independent directors forced the Rigases out of their executive positions and board seats, installing f ormer banker Erland Kailbourne as interim CEO. When they investigated the company's condition, they found and disclosed case after case in which the Rigases made no distinction between their personal funds and businesses and Adelphia's. Bad news gets worse But Adelphia was already in a tailspin. Investors lost confidence. Auditors refused to certify the company's financial reports. And lenders cut it off, leading the company to miss interest and dividend payments. Among the charges leading to the Rigases' arrest: u That the family began using Adelphia as collateral for private loans in 1996, even though the company â€Å"was one of the largest junk bond issuers in the United States. † Investors weren't told. u That the Rigases secretly inflated Adelphia's cable TV subscription numbers to make investors think it was still growing at a healthy pace. In 2000 they began to count subscribers from systems in Brazil and Venezuela, where Adelphia owns a minority stake. In 2001, Adelphia began adding customers who just ordered high-speed Internet services from the Rigases' non-Adelphia systems. And earlier this year, they folded in people who ordered home security services from Adelphia. u That they used accounting legerdemain to disguise Adelphia's actual expenses for digital decoder boxes. In 2001 the company claimed that it sold 525,000 boxes for $101 million to an unaudited Rigas-owned company that has no cable systems. That, starting in 2000, Adelphia spent $13 million to build a golf club on land mostly owned by John Rigas. u That in 1999, they told analysts that Adelphia could provide two-way communications to 50% of its customers. The real number was 35%. u And that the Rigases took more than $252 million from Adelphia to pay for margin calls on their purchases as the company's stock price fell. Contributing: Michael McCarthy R eprinted with permission. All rights reser ved. Page 4 AS SEEN IN USA TODAY NEWS SECTION, FRIDAY, JUNE 28, 2002 WorldCom scandal brings subpoenas, condemnation Accounting rumors rattle Wall Street By Andrew Backover and Thor Valdmanis USA TODAY The accounting scandal that enveloped WorldCom reverberated through Wall Street and Washington on Thursday. u Congress subpoenaed top WorldCom executives. u President Bush and Treasury Secretary Paul O'Neill separately railed at corporate wrongdoers. u Unfounded rumors of accounting problems hit stocks of other companies. WorldCom on Tuesday revealed what could be one of the biggest accounting frauds ever. Company officials said $3. billion in expenses had been hidden in financial statements, inflating profits in 2001 and the first quarter of 2002. The Securities and Exchange Commission has since charged WorldCom with fraud. Bush, at an economic summit in Canada, said he is concerned about the economic impact from â€Å"some corporate leaders who have not upheld their responsibility. † O'Neill, a former chief executive of Alcoa, said in an interv iew on ABC's Good Morning America that the people responsible should be prosecuted to the full extent of the law. WorldCom has raised fears and rumors about more business accounting scandals. Trading was halted for General Motors stock Thursday afternoon because of rumors of accounting irregularities. GM said they were untrue. Broadcast giant Clear Channel Communications denied it is under an SEC investigation, yet its stock fell almost 13%. The House Financial Services Committee set a July 8 hearing into the WorldCom case. Subpoenas went to: u Current WorldCom CEO John Sidgmore. u Former chief financial officer Scott Sullivan, who was fired this week. * Former WorldCom chief executive Bernie Ebbers, who was ousted in April and who owes WorldCom $408 million for personal loans. Salomon Smith Barney telecom analyst Jack Grubman. Once one of WorldCom's most bullish supporters on Wall Street, he has been criticized for possible conflicts of interest. His firm collected millions of dollars in fees as a WorldCom financial adviser. WorldCom spokesman Brad Burns declined comment on whether Sidgmore would invoke his Fifth Amendment right not to testify. Ebbers and Sullivan couldn 't be reached. Salomon says Grubman â€Å"will fully cooperate. † And there could be more investigations. The House Energy and Commerce Committee told WorldCom to turn over financial records by July 11. WorldCom, strained by $30 billion in debt, will cut 17,000 jobs, or 21% of its workers, starting today. Workers will get severance pay, Burns says. Reprinted with permission. All rights reser ved. Page 5 AS SEEN IN USA TODAY MONEY SECTION, THURSDAY, MARCH 28, 2002 Andersen's partners chart firm's future today By Greg Farrell USA TODAY NEW YORK — Arthur Andersen's U. S. partners will huddle in a nationwide teleconference today to determine the firm's immediate future. At issue: who should lead the firm's U. S. operations on an interim basis, and what steps Andersen should take to remain in business. According to senior partners briefed on the meeting's agenda, Andersen's 1,700 U. S. par tners will decide whether to ask Paul Volcker to assume control of Andersen's domestic operations. In February, Andersen CEO Joseph Berardino asked the former Federal Reserve chairman to head an oversight board dedicated to fixing the firm. A month later, a federal grand jur y indicted Andersen on a charge of obstruction of justice for its role in shredding Enron documents last October. Friday, in a last-ditch effort to stanch client depar tures and restore confidence in Andersen, Volcker offered to lead Andersen if its top par tners asked him. On Tuesday, Berardino resigned. Managing partner C. E. Andrews will meet with Volcker today to discuss his takeover plan. While many obser vers think Volcker's arrival could persuade the J ustice Depar tment to drop the indictment, some Andersen partners are wary of being the subject of an idealistic experiment in transforming the accounting industry. The partners will also discuss, and probably adopt, a â€Å"Renaissance† program aimed at returning Andersen to its roots as a highly regarded auditing firm. This proposal, supported by Andrews, has gained support among older partners who want to stay and rebuild the firm. In other developments: u At federal cour t in Houston, Contributing: Thor Valdmanis J ustice Depar tment lawyers will respond to Andersen's motion to halt further grand jury testimony prior to a May 6 trial. If Judge Melinda Harmon sides with Andersen, it will make the government's obstruction of justice case against Andersen more difficult to win. u Andersen's top global partners will meet Tuesday in London to pick an interim CEO. Andersen's global operations continue to fragment. Its Japanese affiliate, Asahi & Co. , announced plans to merge this fall with rival KPMG. Andersen has also discussed selling affiliates to Deloitte Touche Tohmatsu. Wednesday night, Deloitte spokesman Matthew Batters suggested the firm was only interested in hiring individual Andersen partners and picking up clients leaving the firm. Reprinted with permission. All rights reser ved. Page 6 AS SEEN IN USA TODAY MONEY SECTION, TUESDAY, APRIL 9, 2002 Client-starved Arthur Andersen cuts 7,000 jobs Long expected, layoffs offer first tangible sign of firm's distress By Greg Farrell USA TODAY WorldCom has engaged in what could be one of the bArthur Andersen fired one partner in January for his role in shredding Enron documents. On Monday, the auditing firm announced it will lay off 7,000 of its 26,000 U. S. employees because of the consequences of that shredding. The job cuts at Andersen have been expected for weeks, ever since the Justice Department unsealed an indictment against the firm for its role in destroying its paperwork just as a Securities and Exchange Commission inquiry into Enron was about to begin. Since the indictment, unsealed on March 14, scores of clients have deserted Andersen. As Andersen partners leave the firm for opportunities at other Big Five rivals, more clients are expected to migrate. So far, Andersen has weathered the crisis without filing for bankruptcy protection. But the layoffs, announced Monday, are the first tangible sign of financial distress at the firm. Of the 7,000 employees being let go, the vast majority are auditing staffers and managers, as well as administrative personnel. A small number of Andersen's 1,700 U. S. partners are also being let go. According to managing partner Grover Wray, most partners are still needed to serve Andersen's remaining clients. Rather than hand out severance checks to laid-off employees, Wray says Andersen is implementing a program called â€Å"salary continuation. † nder this plan, laid-off workers will continue to be paid for a certain number of weeks, depending on how long they've been with the firm. During that period, these employees will keep their benefits and be free to use their office space to search for new jobs. We are trying to treat our people with a level of dignity,† Wray says. In addition to client defections, Andersen also faces major liabilities for the role it played in Enron's collapse into bankruptcy last fall. Plaintiffs lawyer Bill Lerach filed an expanded complaint Monday against Andersen and former Enron managers in federal court in Houston. But the expanded lawsuit, on behalf of a major Enron shareholder — the Unive rsity of California system — adds nine Wall Street investment banks and two law firms to the list of defendants. Representatives from the banks — JP Morgan Chase, Citigroup, CS First Boston, Canadian Imperial Bank of Commerce, Bank of America, Merrill Lynch, Deutsche Bank, Barclays and Lehman Bros. — either declined comment on Monday or denied the complaint's allegations of complicity in Enron's collapse. Notably, Lerach's complaint leaves out two key players in Enron's demise — Michael Kopper, who headed some of the special purpose entities that kept Enron liabilities off the company's balance sheet, and Ben Glisan, the former Enron treasurer accused of facilitating some of Enron's dubious accounting practices. Glisan is now believed to be cooperating with the Justice Department probe of Enron's activities. Lerach would not comment on whether the pair supplied his investigators with information. But Larry Finder, a former U. S. Attorney now in private practice in Houston, doubts either is helping Lerach. Finder says that if either of them is providing information, it would be to the Justice Department first, where they face criminal liability. And the Justice Department wouldn't necessarily welcome a decision by a witness to cooperate in civil litigation. Reprinted with permission. All rights reser ved. Page 7 AS SEEN IN USA TODAY MONEY SECTION, TUESDAY, JULY 9, 2002 Dominoes hit WorldCom partners, clients Unpleasant ripple effect also spreads to vendors, charities, sponsored events By Michelle Kessler USA TODAY The WB television network, PGA Tour and Texas Parks and Wildlife service aren't in telecom, but they've already been hurt by the WorldCom scandal. That's because they all did business with WorldCom, as did thousands of other companies. Now they're all trying to figure out where they stand with the struggling giant — and coming up with backup plans. This is not going to be pleasant for a lot of companies,† says Kerry Adler, CEO of WorldCom customer Webhelp. Among those affected: u V e n d o r s . WorldCom repor ted that its capital expenditures dropped 42% to about $1. 3 billion in the first quarter from a year ago, yet it remained a big customer for many telecom equipment makers. While it's unclear how accurate WorldCom's numbers are becaus e of the accounting scandal, what is clear is that its spending has slowed. The hardest hit is Juniper Networks, says Banc of America Securities analyst Christopher Crespi. WorldCom provided about 10% of Juniper's annual revenue, including â€Å"less than $7 million† this quarter, Juniper says. If WorldCom stops buying, that could dampen Juniper's forecast for the year. â€Å"It could easily subtract $50 million or $60 million off their top line,† says Soundview Technology analyst Ryan Molloy. Customers Cisco Systems, Nortel Networks and Redback Networks could also get stung, but WorldCom accounts for just a small percentage of total sales, says U. S. Bancorp Piper Jaffray analyst Edward Jackson. All telecom equipment makers could be affected in coming months, even if they didn't do business directly with WorldCom, analysts say. WorldCom was known for buying the latest, most high-tech equipment, forcing competitors to do the same if they wanted to keep up. With WorldCom out of the picture, spending could lag. u Contractors. In 1999, when consulting firm EDS signed an 11-year, $6. 4 billion contract to provide technology services to WorldCom, telecom was a growing industry. EDS is stuck with the deal and a related pledge to buy $6 billion worth of telecom services during that period. Now, EDS says it no longer wants to spend that much with WorldCom. It's in talks to work out a deal. RMH Teleservices has a five-year contract to provide customer service for WorldCom's MCI division. That accounted for 19. 5% of RMH's revenue from October to March. â€Å"While we cannot predict the future . . . we expect to continue to provide these services for MCI,† RMH leader John Fellows said in a statement. u Business partners. Last year, WorldCom pledged to buy millions of dollars in advertising from AOL Time Warner over several years. The exact terms were not disclosed. Now, that deal could be off, meaning fewer ads for Time magazine, cable's TBS and the WB television network. WorldCom also provides service to the company's AOL Internet division. AOL says it has backup providers in case WorldCom service is disrupted. Satellite cable provider DirecTV is holding meetings to determine how to handle its 4-month-old partnership with WorldCom. WorldCom was to provide the underlying network for part of DirecTV's high-speed Internet access service. Similar questions are being asked at Internet Security Systems, a software company that agreed in May to provide security services to WorldCom customers. The value of the two deals was not disclosed. * Sponsored events. Last week's Fourth of July fireworks Reprinted with permission. All rights reser ved. Page 8 AS SEEN IN USA TODAY MONEY SECTION, TUESDAY, JULY 9, 2002 celebration on the Mall in Washington was supposed to be paid for by WorldCom, which has sponsored part of the festivities for five years. But the company pulled out. The National Parks Foundation scrambled to find new funding from AT. Also in Washington, the MCI Center arena might soon be looking for a new sponsor and name. The WorldCom Classic, an annual PGA Tour stop in Hilton Head, S. C. , is in the same situation. u Charities. Each month, about 10,000 teachers receive free training in math, science and the arts from the MarcoPolo project, which is sponsored by WorldCom's charity arm. Now, program administrators and partners — including the National Geographic Society, American Association for the Advancement of Science and The Kennedy Center — are tr ying to make the proj ect independent of the struggling company. Last week, they pulled WorldCom's logos from the MarcoPolo Web site. They're applying to make it a â€Å"public charity,† says Caleb Schutz, president of WorldCom Foundation. There's a lot to lose if the company . . . pulled the plug. † For now, WorldCom still funds MarcoPolo. u Customers. The Texas Parks and Wildlife department spent last week printing temporary fishing and hunting licenses as a quick contingency plan. The department relies on a WorldCom computer network to transmit license information to 2,500 vendors. †Å"We certainly have to consider what might happen to our contract,† says Suzy Whittenton, a wildlife director. Webhelp, which outsources customer service for companies such as Microsoft, uses WorldCom to connect its overseas technology specialists with help-seekers in the USA. Because of a contract, Webhelp can't switch providers but was forced to get a backup provider in case WorldCom fails. That means twice the bills. â€Å"It's expensive, and at the end of the day, our clients pay for that,† says CEO Adler. Reprinted with permission. All rights reser ved. Page 9 Behind the Story: A Reporter’s Notebook The collapse of Enron and WorldCom, precipitated by revelations that both companies had misrepresented how profitable they were, threatens the health of the the nation’s stock markets. If investors can’t believe earnings numbers issued by the biggest companies in the USA, they won’t put their money into the market. And when investors take their money out of the market, as they’ve been doing for more than two years, businesses suffer. They can’t invest, they can’t grow as quickly and they can’t afford to hire more people. Greg Farrell Money reporter USA TODAY As the Enron and WorldCom examples demonstrate, there’s no room in a public marketplace for â€Å"creative accounting. † Once a few cheaters are revealed, the integrity of the entire marketplace is open to question. Greg Farrell is a reporter in USA TODAY’s Money section. He writes about fraud and white collar crime. In the past year, he has been reporting on Enron, Arthur Andersen, Martha Stewart and the Securities and Exchange Commission. Page 10 For discussion ADELPHIA PLANS TO FILE CHAPTER 11; ADELPHIA FOUNDER, 2 SONS, 2 OTHERS ARRESTED IN FRAUD (LIEBERMAN AND FARRELL) 1. Adelphia Corporation was the sixth largest cable company at the time of its collapse. The company was accused of a number of fraudulent activities including the manipulation of its financial reports. Specifically, the firm was accused of misreporting its cable subscription numbers in order to give the impression that the firm was growing faster than it was. For example, they counted subscribers from systems in Brazil and Venezuela where the company owns a minority stake in the company’s total subscribers. They also counted customers who ordered high-speed Internet services from companies owned by the Rigas family and clients that ordered home security services from Adelphia. Why would Adelphia’s management engage in what appears to be blatant misrepresentation of their number of subscribers? 2. When CEO John Regas of Adelphia was led away in handcuffs on racketeering charges, some complained that the justice department was making too public a display of its tough stance on white-collar crime. This type of treatment is normally associated with murderers and rapists. How do you feel about the importance of making a public spectacle of white-collar criminals? 3. The Adelphia lawsuit stated that the Rigases â€Å"used their domination and control of Adelphia, and their isolation from the scrutiny of the outside world, to engage in one of the largest schemes of self-dealing and financial wrong doing in American corporate history. Financial economists refer to this type of behavior as an agency cost since corporate executives are the agents of the firm’s owners or principals. How can stockholders protect themselves from the potential for self-dealing by corporate executives? ANDERSEN’S PARTNERS CHART FIRM’S FUTURE TODAY (FARRELL) 1. Arthur Andersen was once the premier public accounting firm but a string of high profile financial reporting disasters that culminated with the failure of Enron caused the demise of the once proud firm. Andersen’s failure highlights the fact that the principal asset of a public accounting firm is the firm’s reputation. Once the firm’s â€Å"credibility† is challenged its clients are no longer willing to pay for its auditing services. What is it that a public accounting firm does that requires it to have a sterling reputation for honesty? 2. Anderson’s initial lay off was 7,000 of its 26,000 employees before the firm completely collapsed and all employees lost their jobs. However, all of Andersen’s clients still needed auditing services so in many instances the employees continued to audit the same firms they had audited for Andersen, just for another auditing firm. If the employees just moved from one firm to another, was there really a layoff? Did Andersen employees really suffer from the demise of Arthur Andersen? Isn’t this also true of the Adelphia, Enron, and WorldCom employees? For more information, log on to http://www. usatodaycollege. com Page 11 Future implications WORLDCOM SCANDAL BRINGS SUBPOENAS, CONDEMNATION (BACKOVER AND VALDMANIS); DOMINOS HIT WORLDCOM PARTNERS, CLIENTS (KESSLER) The financial press coverage of the failures of Adelphia, Enron, and WorldCom have focused principally on stockholders who have lost everything they invested and creditors who stand to lose a portion of what they have loaned the company. However, other important consequences of these high profile failures are often overlooked including: (1) the financial and emotional losses suffered by employees who lose their jobs and face the prospect of a lengthy period of unemployment and possibly the dislocation costs of moving to another community to find work, (2) the local community public services and school systems who lose valuable tax revenues, and (3) the budget crises created for local charities and the arts that depend on corporate contributions for their continued survival. Bankruptcy courts focus on the contractual obligations of the firm to creditors and suppliers. It has been argued that the corporation is a â€Å"guest† of the society and as such has obligations to the entire web of stakeholders that have a financial stake in the firm’s survival. Should the claims of these â€Å"silent stakeholders† also be considered when a firm fails? About The Expert John D. Martin,Ph. D. Professor of Finance Carr P. Collins Chair Hankamer School of Business Baylor University From 1980 until 1998 John Martin taught at the University of Texas at Austin where he was the Margaret and Eugene McDermott Centennial Professor of Finance. Currently holding the Carr P. Collins Chair in Finance at Baylor University in Waco, Dr. Martin teaches corporate finance and financial modeling. His research interests are in corporate governance, the evaluation of firm performance, and the design of incentive compensation programs. Dr. Martin publishes widely in both academic and professional journals. Included among his academic publications are papers in the Journal of Financial Economics, Journal of Finance, Journal of Monetary Economics, Journal of Financial and Quantitative Analysis, Financial Management, and Management Science. Professional publications include papers in Directors and Boards, Financial Analysts' Journal, Journal of Portfolio Management, and Bank of America Journal of Applied Corporate Finance. u Dr. Martin co-authors several books including the following: u Financial Management, 9th edition (Prentice Hall Publishing Company) u Foundations of Finance, 4th Edition (Prentice Hall Publishing Company) u Financial Analysis (McGraw Hill Publishing Company) u The Theory of Finance (Dryden Press) Dr. Martin consults with a number of firms including Citgo, Hewlett Packard, Shell Chemical, Shell E, Texas Instruments and The Associates. Additional resources Working Paper Series — Financial Engineering, Corporate Governance, and the Collapse of Enron http://www. be. udel. edu/ccg/research_files/CCGWP2002-1. pdf For more information, log on to http://www. usatodaycollege. com Page 12