Cna Code Of Ethics For Registered Nurses - 1611 Words

CNA Code of Ethics for Registered Nurses (2008) provides guidance in dealing with cases like this by explaining the core nursing values and responsibilities involved which are: a) providing safe, compassionate, competent and ethical care; b) promoting health and well-being; c) promoting and respecting informed decision-making, and d) Preserving dignity; e) maintaining confidentiality, f) promoting justice and g) being accountable. The first nursing value is always expected to be upheld in any case because it is their duty to provide care using appropriate safety precautions and preventing/minimizing all forms of violence (CNA, 2008). The collaboration of the nurses between the physician and Mr. C’s family has been evident since then. This therefore calls Mr. C’s nurses to be more compassionate about his situation and try to recognize where he is coming from as they build a trust-worthy relationship before judging him or jumping into conclusions like he does not want to live anymore. Even if he decides to withdraw from these potentially life-sustaining treatments, health care providers are still obliged to give him the care he need the best way they can up until the end of his life. The second nursing value, just like the first one, still calls nurses to still aim to promote or at least maintain Mr. C’s health and well-being to the highest possible level regardless of the path he had chosen for his life. This can be achieved by continuing to collaborate well with otherShow MoreRelatedCode of Ethics - Nursing1475 Words   |  6 Pageshandled by a single person—the nurse. In today’s society, nurses’ roles and responsibilities have drastically changed. Nurses are not only limited to a hospital setting where they are assessing patients, handing out medications or assisting doctors. Nurses are also a counselor, an agent of change and a patient’s advocate. Nurses can also be an educator in a classroom setting, during clinical practice of student nurses or through public presentations. In addition, nurses can also take up roles as partRead MoreCode of Ethics - Nursing1478 Words   |  6 Pageshandled by a single person—the nurse. In today’s society, nurses’ roles and responsibilities have drastically changed. Nurses are not only limited to a hospital setting where they are assessing patients, handing out medications or assisting doctors. Nurses are also a counselor, an agent of change and a patient’s advocate. Nurses can also be an educator in a classroom setting, during clinical practice of student nurses or through public presentations. In addition, nurses can also take up roles as partRead MoreConfidentiality in the Moral Community of Nursing700 Words   |  3 PagesConfidentiality in the Moral Community of Nursing Laabs (2008) stated that nurses require applied ethics to give moral direction while practicing. A moral community is a safe â€Å"place where community members are encouraged to bring ethical concerns to light and deal with these in a manner that promotes shared understanding and mutual respect†(Hardingham, 2004). In this paper I will tell you a story of an ethical conflict that I have encountered about breach of confidentiality, I will then go on toRead MoreThe Code of Ethics for Professional Nurses Essay1271 Words   |  6 PagesIntroduction The Code of Ethics for Registered Nurses is a document that details how a nurse in Manitoba is expected to act regarding ethical matters (College of Registered Nurses of Manitoba, [CRNM] 2006). Ethical principles are laid out with the assumption that nurses value and respect the individuality of people (Burkhardt, Nathaniel, and Walton, 2014). This paper will examine a case study and discuss the ethical principles, values and laws that pertain to the case. The stance that the nurse should takeRead MoreANA Code of Ethics Provision Five Review Essay869 Words   |  4 Pagesprovision five of the ANA code of ethics are as follows: section 5.1, which is moral self-respect, suggests that nurses must care for themselves as much as they care for their patients. Nurses must do their best to maintain professional respect to themselves in regards of their competence and moral character. Section 5.2, which is professional growth and maintenance of competence, suggests that nurses must contin ue to self and peer evaluate themselves throughout their careers. Nurses must continue to learnRead MoreA Reflection On Labeling Mental Illness1560 Words   |  7 Pagespractitioner and become a life-long learner. Somerville Keeling (2004) define critical reflection as â€Å"the capacity to uncover our assumptions about ourselves, other people, and the workplace† (p.42). The Saskatchewan Registered Nurses’ Association (SRNA) mandates that registered nurses practicing in the province, under the Standards and Foundation Competencies, must â€Å"engage in critical inquiry to inform clinical decision-making and establish therapeutic, caring, and culturally safe relationships withRead MoreEuthanasi Assisted Suicide And Euthanasia Essay2335 Words   |  10 Pages that is explicitly intended to end another person life† (p. 2) by a physician. Lastly, aid is dying is the request of a prescription for medication; provided by a physician, that patients can self-administ er to end ones life peacefully (American Nurses Association [ANA], 2013). For this intent of this paper, physician- assisted suicide and euthanasia will be used independently. The act of physician- assisted suicide, as of June 2016, is legal in the Netherlands, Belgium, Colombia, Luxembourg, SwitzerlandRead MoreQuestions On The Ethical Tension1415 Words   |  6 Pagespainful. She describes herself as traumatized and saying her mental goodbyes to her husband and children. She knew nobody could hear her and she was horrified. When the regained full motor sensory, she remembers the first words out of her mouth to the nurse, stating â€Å"I was awake, I felt everything.† Donna was left to deal with this medical malfunction on her own. Since the surgery, Donna has been diagnosed with post traumatic stress disorder (PTSD). It has changed her life in many ways. She has had toRead MoreThe Evolutions Of Social Media1585 Words   |  7 PagesThe evolutions in social media come with an increasing number of ways of socializing and connecting with others, which brings about challenges that were not faced previously. This is shown in the case scenario where a student nurse, Roxanne, receives a friend request on Facebook from her client, Ashley, who is recovering from depression and whom Roxanne has developed a therapeutic relationship with during clinical. Ashley appreciates Roxanne’s supportive care and hopes to attend nursing school. Roxanne’sRead MoreThe Problem Of Care Aids1374 Words   |  6 Pagesproviders and administration. Will they ignore this because they are low on staff? Is the care aid experiencing the results of poor staffing, which is leading to her irritable behavior? It is known that care facilities that maintain a high patient-to-nurse ratio, experience greater rates of employee burnout and/or job dissatisfaction (Schulz, Damkroger, Voltmer, Lowe, Driessen, Ward Wingenfeld, 2011). Subsequently, this burnout could lead to the irritability and lack of patience that the care aid exemplified

The Impact Of Australian Environmental Impacts On Australia

Question 1: Australia was once one of the healthiest and wealthiest single megadiverse country in the world. Unfortunately, it is now facing serious environmental problems which will affect the future generations. The early signs of the Australian environmental impacts were introduced by the colonial settlement in the 18th -19th century. The coastal population, the bringing of new species, the land degradation and the water conflicts, are the agents that contributed to the start of the environment deterioration. And since the environmental issues are directly related to population growth, human activities and associated developments, it is definite that Australia will still be encountering future environmental challenges. Even with the compliance to legislation acts and protection policies, Australia is at the forefront of environmental management but in fact were are leaving our future generations major environmental problems such as climate change, fresh water allocation and storage, marine fisheries, rapid growth in mining and coal seam gas development, biodiversity loss, land degradation and deforestation. Drought, heatwaves, bushfires, longer fire season, floods, sea level rising, oceans warming and becoming more acidic, all these are happening because of the climate change Australia is experiencing. The major driver believed to be the cause of climate change is greenhouse gas emissions, and since Australia is one of the top countries withShow MoreRelatedImmigration And Immigration Of Australia1276 Words   |  6 Pageshave come to Australia as new immigrants and they had a marked influence on all aspects of society. In the 50 years Australia has welcomed about 5.9 millions of migrants comprising about 3.1 million males and 2.8 million females (Queensland Govt., n.d). More than 599 000 people have arrived under humanitarian programs, initially as displaced persons and more recently as refugees. Statistics from the Department of Immigration and Citizenship reported that during this same period in Australia, approximatelyRead MoreThe Topic Of Sustainable Business Practices966 Words   |  4 Pageswhat is meant by the term sustainability and its dimensions. Secondly examples will be provided to illustrate the ways in which ExxonMobil is operating in an ethical and sustainable mann er. Thirdly this report will critically look at the area of environmental responsibilities to an organizations and what ExxonMobil is doing in that aspect. Finally this report will observe the importance for organization to be sustainable. Sustainability according to Bruntland can be defined as ‘meeting the needs ofRead MoreThe Environmental Impacts Of The Gas Fracking Essay802 Words   |  4 PagesESSAY: â€Å"Should Australia continue to allow coal seams to be mined when the environmental impacts are unknown ?† Australia should not approve more coal seam gas mining applications and should urgently investigation the environmental impacts of the Fracking Process. The coal seam gas fracking process has been promoted as the new clean energy yet the process has been shown to cause leaks of carcinogenic chemicals and methane gas in multiple countries including America and Australia. It is also linkedRead MoreSocial, Economic, Political And Environmental Factors Of Globalization1429 Words   |  6 PagesBackground 2 Social Impacts 3 Positives 3 Figure 1. 3 Negatives 3 Economic Impacts 4 Positives 4 Negatives 4 Political Impacts 5 Positive 5 5 Figure 3. 5 5 Figure 2. 5 Negative 5 Environmental Impacts 6 Positives 6 Figure 5. 6 6 Figure 4. 6 Negatives 6 Figure 6. 6 Figure 7. 6 Conclusion 7 Introduction This report will discuss the phenomenon of Globalisation in Australia. The report will analyse the social, economic, political and environmental factors of globalisation in Australia. In these factorsRead MoreAustralian Aviation Sector Influences On The Australian Economy And The Tourism Industry1580 Words   |  7 PagesIntroduction This economic issues report will outline how the Australian aviation sector influences both the Australian economy and the tourism industry. The report will also highlight how the economic issues of employment, fuel consumption and environmental challenges affect the Australian aviation sector and how these issues relate to the economic principles of supply and demand. The report will briefly explain the background of the Australian aviation sector; identify economic market trends and currentRead MoreThe Mining Industry in South Australia972 Words   |  4 PagesAustralia’s economy and, benefits it has provided outweigh whichever associated costs. As developed by the South Australian State Government (2013), â€Å"realising the benefits of the mining boom for all† is one of the seven strategic priorities to secure the state’s future. Mining is an important industry in South Australia because it has been a major source of minerals for the high demand in Austral ia and many countries (Flinders Ranges Research n.d.). This industry plays a vital part in advantaging the stateRead MoreEssay on The Dangers of Mining of Uranium in Australia1002 Words   |  5 Pagesfuel as primary energy resources in the world. Australia is one of countries that have the largest uranium deposits in the globe. So, Australia has a big opportunity to make a lot of money from uranium exports to other countries. On the other hand, The Australian Government is still debating about this issue because of negative impact on uranium mining and exploration. For these reasons, some people believe that uranium mining has more positive impacts on economic such as, benefits from uranium exportsRead MoreUranium Mining in Australia Essay1017 Words   |  5 Pageson the mining of uranium in Australia ? Uranium has become a big issue as an alternative energy resource in the future due to the shortage of fossil fuel as a primary energy resource in the world. Australia is one of country that has the largest uranium deposits in the globe. So, Australia has important opportunity to make a lot of money from uranium exports to other countries. However, the Australian Government is still debating this issue because of the negative impact of uranium mining and explorationRead MoreThe Expanding Demand for Energy and Other Services in Australia1096 Words   |  5 Pagesand demands are infinite and fulfilling them can become a daunting task for any developing country or nation. The Australian Federal Government is confronted with these endless demands daily and must make decisions that are both advantageous towards the Australian public and satisfies the rudimentary requirements and necessities of the nation. Energy is a primary need that the Australian public requires daily and the procedure s of generating the immense amounts of electricity required for poweringRead MoreAustralia And Its Tourism Industry Falls Among The Most Vital Industries Of The Australian Economy1098 Words   |  5 Pages Introduction Australia is rich in scenic beauty and its tourism industry falls among the most vital industries in the Australian economy. From 2013-2014 it contributed about $43 billion to the country’s Gross Domestic Product. According to 2010-2011 reports 513,700 people were employed in tourism. With a 92% return on investment for government spending– it offers higher returns than Australia’s leading industries such as mining, meat and agriculture. Since the last 12 months, tourism has been made

Rape Victims Essay Example For Students

Rape Victims Essay Rape VictimsOutside in the rain, a young man approached the house. He knew exactly where to go, he had been watching the back door. No one knows how often he had been out there, but he knew exactly where to find the hidden key. It was hidden in a woodpile behind some bushes next to the whit picked fence. He used it to let himself in the back door. He walked through the kitchen, around a corner, up the stairs, past the kids rooms, and into Rosss bedroom. Shed been asleep for about half an hour, and the movement in the room startled her awake. Her first thought was that one of the children had come to her with a problem. Then she noticed the flashlight held by a tall figure dimly illuminated by a night-light down the hall. Who are you? What do you want? She demanded. My friend is with your children, and he has a gun, the man said. Hell kill them if you dont do what I want. Ross pleaded with him to take whatever money was there and leave. Her told her not to scream, and when she began to cry, he told her she should stop, because he said youre a grown woman. He performed oral sex on her, and then raped her. When he had finished, he said to no one in particular, That was awesome. Then he put a pillow over her face, told her to count to 100, and then he left the house. When she was sure he was gone, she checked the children and found the asleep and unharmed (apparently there had been no accomplice). (Grossman) This is just one of the disturbing situations where an innocent person is made into a victim. Rape is a felony crime in which a person is forced to have sexual intercourse without giving consent. Rape is traumatizing, and has a long lasting effect on how victims cope in society. While most rapes are unreported the number of cases reported in the United States more then doubled between 1970 and 1986. Rape is often motivated by extreme anger toward the victim or a need to overpower the victim. The motive is rarely sexual. Rape is intended to abuse, humiliate, and dehumanize the victim. 50% of all rapists are under the age of 25 and are most frequently with someone the victim already knows. This can be very traumatic and have many effects on the victim. The effects of rape are both physical and psychological. Some of the physical problems may be bruises, swelling around genital area, bruising around the vagina, sexually transmitted diseases, and/or possible pregnancy. Psychological effects may be guilty feelings, irritability, flashbacks, depression, fear, and difficulty. The physical effects may last from a day to a few months, depending on the extent of the injuries. The mental and emotional effects are less predictable, and may last a lifetime. (Cooper). RVA is an Illinois not-for-profit organization made up of many individuals with two primary goals: to assure that survivors of sexual assault are treated with dignity and compassion; and to affect changes in the way the legal system, medical institutions and society as a whole respond to survivors.RVA focuses on both social service and social change. Through our presence in Chicago areaemergency rooms, we provide nonjudgmental emotional support to victims of sexual violence,enabling them to become survivors. By providing basic legal and medical information, and referrals to other service organizations, we help the survivor make informed decisions. We also offer survivors continued support through telephone follow-up and our staff of counselors and legal advocates. Through these services, we enable survivors to regain control over their lives as quickly as possible. .u02776c48863430c43f1c66f304998f6f , .u02776c48863430c43f1c66f304998f6f .postImageUrl , .u02776c48863430c43f1c66f304998f6f .centered-text-area { min-height: 80px; position: relative; } .u02776c48863430c43f1c66f304998f6f , .u02776c48863430c43f1c66f304998f6f:hover , .u02776c48863430c43f1c66f304998f6f:visited , .u02776c48863430c43f1c66f304998f6f:active { border:0!important; } .u02776c48863430c43f1c66f304998f6f .clearfix:after { content: ""; display: table; clear: both; } .u02776c48863430c43f1c66f304998f6f { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u02776c48863430c43f1c66f304998f6f:active , .u02776c48863430c43f1c66f304998f6f:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u02776c48863430c43f1c66f304998f6f .centered-text-area { width: 100%; position: relative ; } .u02776c48863430c43f1c66f304998f6f .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u02776c48863430c43f1c66f304998f6f .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u02776c48863430c43f1c66f304998f6f .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u02776c48863430c43f1c66f304998f6f:hover .ctaButton { background-color: #34495E!important; } .u02776c48863430c43f1c66f304998f6f .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u02776c48863430c43f1c66f304998f6f .u02776c48863430c43f1c66f304998f6f-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u02776c48863430c43f1c66f304998f6f:after { content: ""; display: block; clear: both; } READ: Experiments Essay Through our work with the Chicago Police Department, the Cook County States Attorneys Office and other area institutions, we strive to improve the treatment of survivors as a group in our society. RVA offers three distinct program areas: Counseling (individual and group), Advocacy legal and medical) and Education ; Training.

Red Bull Company Marketing Strategy

Executive Summary This paper identifies Red Bull as a unique company that has demonstrated the ability to achieve success through innovative and unconventional ways. Its unique marketing strategy stands out as the hallmark of the company’s innovation. Through its market innovation, Red Bull has been able to maintain a dominant market position in the global energy drink market.Advertising We will write a custom essay sample on Red Bull Company Marketing Strategy specifically for you for only $16.05 $11/page Learn More Its expansion into Asia has however been incomplete because of the company’s minimal market presence in the region. This paper proposes a cautious market expansion into Japan through a joint venture with Oronamin-C. This plan (coupled with the company’s innovative market strategy) should provide an optimum market mix that sets Red Bull in a position to achieve significant success in Japan. Consequently, Red Bull should s ucceed in Japan. Introduction Red Bull has made a huge name in the world for its innovation. The product was initially an Asian product but an Austrian entrepreneur tailored it to suit the taste of the western market. Red bull’s development therefore emanated from a copyright transfer (from Thailand) that saw it transition into a carbonated drink with a strong western appeal. Many factors make Red Bull a popular energy drink; however, its market innovation sparks the interest of this paper. For example, Red Bull has shown strong market resilience in the wake of intense criticism (IBS Centre of Management Research 2). Indeed, Red bull has been able to transition from an unstable drink to a popular energy drink with global recognition. During the onset of the product launch (in Europe), there was a lot of opposition from health departments regarding the possible health effects of the drink. Consequently, the product received a poor reception in major European markets including France, Denmark, and Norway. In fact, in France, Red Bull (in its â€Å"natural† form) only gained acceptance in 2008 (IBS Centre of Management Research 2). Red Bull’s innovative attribute stems from its unconventional marketing strategy, which hinges on buzz marketing. At its launch, Red Bull had adopted conventional marketing strategies but its failure prompted a change of tact.The failure of the first marketing strategy dented the company’s financial well-being by $12 million (IBS Centre of Management Research 2).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More However, with the refocus on its unique marketing strategy, Red Bull became the envy of many beverage companies. Red Bull’s reliance on an unconventional marketing strategy defines this study’s interest because its sports-centred market strategy is innovative. Interestingly, the established cost of this innovation is lower than the conventional marketing costs adopted by other beverage companies. The main operational challenges for Red Bull stem from the lack of a patent for the company’s product formula. Consequently, many companies have used Red Bull’s secret ingredients to make rival products. In addition, Red Bull has received negative press for the potential medical risks its product poses (these risks are however in contention). Red Bull’s innovative market strategy bases its principles on the sale of a â€Å"lifestyle,† which is hinged on brand awareness. The company’s market slogan is â€Å"Red Bull gives you wings to fly.† Red Bull’s target market is a vibrant youth between 18-35 years. Unlike other beverage companies that rely on traditional media to sell their products, Red Bull relies on sponsoring sporting events and providing free products to athletes (the company has underwritten several sports competitions and sponsored dozens more). Furthermore, the company has concentrated its â€Å"place strategy† to avail its products mainly in nightclubs and entertainment spots. Red Bull’s innovative marketing strategy has seen it rake more than $4.2 billion in annual sales (IBS Centre of Management Research 3). The future social and commercial impact of Red Bull’s innovative marketing strategy is therefore positive because this strategy creates brand loyalty and improves sales revenues. The three main reasons for the success of Red Bull’s market strategy is its representation of a subculture, concentration in a niche market (as opposed to a mass market) and the perceived social benefits of consuming the drink (support for sports) (IBS Centre of Management Research 2). This paper explores the international business opportunity for selling Red Bull to the Japanese market (using the company’s innovative marketing strategy). The paper centres on three analyses  œ an analysis of the international business opportunity, an analysis of the proposed business opportunity, and an analysis of the financial projections.Advertising We will write a custom essay sample on Red Bull Company Marketing Strategy specifically for you for only $16.05 $11/page Learn More Analysis of the International Business Opportunity Red Bull has received wide acclaim for its product launches (in some Asian markets like China and the Philippines) (IBS Centre of Management Research 1). However, there is still a lot of pessimism regarding the company’s success in Japan. Some observers fear that Japan has different market dynamics that may hinder the success of the product in this market (Euromonitor International 1). The truth in this fear is unconfirmed but the understanding of Japan’s unique market dynamics mirrors the economic, political, and legal environments that affect its market operations. Japan’s Economic, Politic al, and Legal Analysis Economic Japan’s economic environment is appropriate for the launch of Red Bull. Indeed, the country’s economic system bases its foundations around free-market principles that support international trade (Karan 353). Currently, Japan’s per capita income is $45,903 (above most of its Asian rivals and very close to America’s $48,442) (World Bank 2). This high per capita income means that Japanese consumers have the market power to buy premium products (in fact, the IBS Centre of Management Research (2) explains that Japan has a per capita consumption of 1.7 litres). However, Japan’s level of foreign investment falls below many industrialised nations. Compared to the US, UK, Germany, Australia and France; Japan has the lowest rate of foreign direct investments (Jetro 10). This low level of foreign investments has a mixed impact on the launch of Red Bull in the country because it signifies minimal competition (at least from forei gn competitors), but at the same time, it signifies a poor environment for foreign businesses to thrive). Political Japan enjoys political stability from its constitutional monarchy system. The political system is therefore undemocratic but it recognises the importance of embracing free-market leadership. This way, there is little political interference with the market operations. Though not ideal, Japan’s political environment poses minimal threat to Red Bull’s launch in the country. Indeed, there is an adequate political will to support the launch of new and foreign products in the Japanese market (Jain 5).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Legal Japan’s legal environment has made its economy to be among the most liberalised, industrialised and efficient economies in the world. However, Meiners (370) warns entrepreneurs against starting small businesses in Japan because government policies do not favour such businesses. This situation is uniquely different from the US because small businesses in the US receive government support. Asia Law (2) reports that Japan’s tax regimes may be as high as 65%. Small businesses are therefore discouraged from venturing into this market. However, since Red Bull is a global enterprise, this legal challenge does not severely affect its operations (IBS Centre of Management Research 2). Finally, like Japan’s governance structure, its labour laws borrow from the European model. Asia Law (2) says that Japan’s labour laws are somewhat paternalistic. This situation gives employers less flexibility. However, the Japanese labour force bends to the intrigues of the gl obal labour force (for example, lifetime tenure is making way for new job flexibilities) (Asia Law 2). Broadly, these changes are good for foreign investors because they increase the opportunities to source competent employees. Trade Area and Cultural Analysis Geographically, Japan comprises of four islands. However, the country’s state-of-the-art infrastructure facilitates the transportation of goods from one part of the country to another. Apart from logistical challenges, Japan’s geography does not significantly affect Red Bull’s intended venture. Since Red Bull targets young people as its main demographic group, Japan offers a good market for the product because recent population estimates show that the largest population is aged 15-64 years (Karan 34). Moreover, in a country that has more than 120 million people, a youth budge of more than 60% provides a good market for any company that targets young people (Karan 34). A possible challenge created by Japanà ¢â‚¬â„¢s demography lies in language barrier. With a majority population speaking Japanese, it is difficult to market a product that originates from a non-Japanese background. Nonetheless, providing a tailor-made product to suit the typical Japanese consumer solves this problem. Apart from Japan’s sporting culture, no significant customs or traditions affect the sale of Red Bull. Martial art is the most common sport (the Japanese also practice other western sports such as baseball and football). Motor sport also has a significant following in Japan because there are many Motorsports events that have received corporate sponsorship within the country. Drifting is also another type of sport that has quickly gained prominence in the Asian country and it offers an opportunity for more corporate sponsorship (IBS Centre of Management Research 2). Considering Japan’s demography and social customs, the main strengths and weaknesses of launching Red Bull in this market is the pr esence of a sporting culture and the challenges posed by marketing the product in a predominantly Japanese-speaking country. The sporting culture provides good grounds for Red Bull to market itself as a corporate sponsor (because it has achieved good success with this strategy in other parts of the world). Therefore, complemented by its global dominance, Red Bull is set to have a competitive advantage over other rival products in the sporting industry. However, since Red Bull’s appeals to a western market, it may experience a market penetration challenge in the Japanese culture. This way, Red Bull’s competitive advantage may be lost to other â€Å"Asian-oriented† energy drinks such as Otsuka’s Oronamin-C brand (a common energy drink in Japan). Operation of the Proposed Business Organisation Type and Ownership Red Bull’s market entry strategies in major world markets are inconsistent. Unlike other international brands like Heineken, Red Bull adopts a multifaceted market entry strategy. Japan offers very competitive market dynamics, which may prove to be problematic for Red Bull. Indeed, many market observers have expressed their pessimism regarding Red Bull’s success in this market (Euromonitor International 1). The market domination of Oronamin-C brand and Coca Cola inform this pessimism. Both products control more than 70% of the market share (Euromonitor International 1). It is therefore difficult for Red Bull to challenge this market dominance because it lacks the same resources as its competitors (like Coca Cola). Based on these dynamics, it is crucial for Red Bull to adopt a non-aggressive approach and seek a joint venture with another local company (preferably, Oronamin-C) (Euromonitor International 1). Many advantages are associated with pursuing joint ventures. One advantage that Red Bull will enjoy is risk sharing and the availability of local market knowledge (Trost 18). Another advantage that may be realised when pursuing a joint venture strategy is the joint financial strength that the companies will enjoy. This advantage will boost the company’s resources to expand to all parts of the country. However, some of the main disadvantages associated with the joint venture strategy are the loss of management control, the possibility of failing to recover capital, slow decision-making, high chances of disagreement between partners, and the possibility of both partners having different views regarding their business (Trost 18). Based on these dynamics, Red Bull will only enjoy a 50% ownership of its market venture. Product Red Bull’s venture in Japan centres on selling Red Bull as an energy product. Compared to other energy products in the Japanese market, Red Bull’s perception as a sports drink is its unique feature throughout the world. The value created by the product will be a â€Å"lifestyle appeal† to all its consumers. The product’s price will largely be in tandem with international pricing (about $2). Potential Suppliers: Since this paper proposes a joint venture strategy for Red Bull, the potential suppliers for the product will be the existing supplier for the joint partner. Ideally, since the Oronamin-C brand already has a dominant market presence in Japan, Red Bull should use its supply channel to distribute its products throughout the country. Inventory Policy: The influence of the partnership also shows in the formulation of the company’s inventory policy. However, since there are many uncertainties regarding Red Bull’s success in the Japanese market, the demand flow policy should be the main inventory policy. This policy does not articulate a definite inventory control; instead, every order generates a subsequent supply of the same quantity ordered (therefore, the realisation of supply inefficiencies disappears) (Gilliam 51). Nonetheless, the establishment of a minimum inventory level is crucial to ensure t here are no significant inconsistencies in the demand or supply schedules. Manufacturing Plans: Red Bull’s manufacturing strategy centres on the construction of new plants. This strategy is costly but it depends on the success of the joint venture. Indeed, if there is excess capacity to produce the product from the joint venture partner, Red Bull should pursue this strategy and avoid the risks of injecting a huge capital for building another plant. Transportation Again, Red Bull’s transportation strategy centres on the success of the joint venture. There is therefore no need to set up a new transport system because the local partner will provide one. This way, the company will significantly reduce the costs of operations and benefit from accessing new markets (serviced by the existing transportation network). The risk associated with this transport strategy is the possibility of the partner treating Red Bull as a secondary product. However, if the transport network is expanding and enough equipment is available to service both companies, there are not going to be any problems. Since the importation of some product ingredients is necessary for Red Bull’s operations, the company will have to avail specific documents that are synonymous with international trade. One such document is the consular invoice, which determines the balance of payment between countries (Credit Management World 12). The document also establishes that the products imported to Japan meet the state’s import regulatory standards. An insurance policy certificate is also another important transport document needed for importation, but depending on the terms of trade between the company and Japan, the stipulations in this document varies. Finally, relevant certificates need to be availed for transportation. These certificates include the certificate of inspection, certificate of origin, and weight list certificate (Credit Management World 12). Market Strategy Pricing Policy The premium-pricing model outlines Red Bull’s best chance of effectively gaining a positive perception among Japanese consumers (Berends 44). This strategy has succeeded in other parts of the world (like Apple’s dominance of the US market). Therefore, compared to the competition, Red Bull’s price will be slightly more expensive. This pricing model exploits the consumers’ perception that expensive products are of higher quality, safer and more desirable. This premium-pricing model is also in tandem with Red Bull’s aim of selling a â€Å"lifestyle† that most young people would admire. The currency used in the pricing model will be the Japanese Yen because this currency is Japan’s national currency. Different cost measures add to Red Bull’s pricing model, including the transport costs, tax, tariffs, and the overall cost of producing the product. The minimisation of transport costs occurs through the joint transport agreemen t discussed earlier in this paper. However, the overall cost of producing the product relies on the tax and tariffs imposed on the product. The imposition of a profit margin of 25% will also occur. Promotional Program The Red Bull promotional program will remain true to its international model of sponsoring sports events. Sponsoring Japanese athletes will also form a critical part of the company’s promotional plan. This way, the product will maintain its advantage over other energy drinks in the country. Therefore, advertisements through conventional media – like television, newspapers, or radio will be minimal. This promotional plan not only outlines the company’s first year marketing strategy but the company’s long-term promotional strategy too. Finances Red Bull’s first few years of operation will be costly. In addition to the initial capital, additional investments and incremental capital will boost Red Bull’s penetration in the market. Most of these capital investments will improve the company’s production and distribution facilities. Growth expectations show that the company will break-even in five years. The income statement below describes the projected finances for the first three years of operation. Pro forma Income Statement for First Three Years Operation 2013 2014 2015 Sales $26,729,620 $29,239,060 $32,124,920 Cost of Goods Sold $16,357,250 $17,310,840 $18,407,470 Operating income $10,372,370 $11,928,220 $13,717,450 Expenses Administrative $3,345,920 $3,847,810 $4,424,960 Marketing $4,182,400 $4,809,760 $5,531,230 Total Expenses $7,528,330 $8,857,580 $9,956,210 Earnings before interest and taxes $2,844,030 $3,270,640 $3,761,230 Taxes $1,023,850 $1,177,430 $1,354,040 Net Income $1,820,180 $2,093,210 $2,407,190 The pro forma statement below outlines the projected cash flow Pro forma Cash flow Statement 2013 2014 2015 Opening Balance $15,000,000 $18,000,000 $22,000,0 00 Cash received Cash Sales $24,729,620 $28,239,060 $31,124,920 Credit Sales $2,000,000 $1,000,000 $1,000,000 Interest $750,000 $350,000 $350,000 Sundries $100,000 $100,000 $100,000 Total Cash received $27,579,620 $29,689,060 $32,574,920 Cash purchases Stock Purchases $6,357,250 $7,310,840 $8,407,470 Trade Creditors $500,000 $800,000 $900,000 Other Creditors $400,000 $450,000 $475,000 Operating Costs $7,528,330 $8,857,580 $9,956,210 Capital $2,000,000 $3,000,000 $5,000,000 Other 0 0 0 Total Cash payments $16,785,580 $20,418,420 $24,738,680 Cash Increase/Decrease $10,794,040 $9,270,640 $7,836,240 Closing balance $25,794,040 $27,270,640 $29,836,240 Pro forma Balance Sheet 2013 2014 2015 Asset Cash $9,040,367 $13,680,908 $32,699,802 Total Short-term Asset $9,040,367 $13,680,908 $32,699,802 Long-term Assets Capital Assets $1,200,000 $3,200,000 $4,200,000 Accumulated Depreciation $800,000 $1,440,000 $2,280,000 Total long-te rm Assets Total Assets $10,440,367 $15,440,908 $34,619,802 Liabilities and Capital – – – Short-term Notes – – – Long-term liabilities – – – Total Liabilities – – – Earnings $4,559,633 $440,908 $19,619,802 Shareholder’s Equity $10,000,000 $10,000,000 $10,000,000 Total Equity $5,440,367 $10,440,908 $29,619,802 Total liabilities and Equity $5,440,367 $10,440,908 $29,619,802 Sources and Uses of Funds Statement The sources of funds for the international venture will come from the company – Red Bull. However, since a joint venture strategy is in the offing, funds pooling will occur. The availability of a larger capital pool is therefore possible for both companies. These funds will expand the production capacity and the existing transportation network for both companies. Other auxiliary activities that complement the company’s fund use include marketing and admi nistrative activities. Country Statistic Based on the volume of international trade that Japan enjoys, international business complements 3% of the country’s gross domestic product (Jetro 10). The joint venture between Red Bull and Oronamin-C adds to this international trade balance. Partner Information There is minimal information regarding Oronamin-C’s financial information. However, in the April-June quarter of 2011, the company reported net sales of $3,682,320. Its operating income for the same quarter was $591,982 (Jetro 10). These figures show that the company is making a lot of profit from its Japanese venture. Red Bull hopes to merge its financial resources to join this positive financial outlook. Relevant Laws Over the past years, Japan’s laws have tried to reduce legal obstacles to international trade. However, the country’s state laws still govern sensitive businesses. For example, Red Bull’s venture into Japan will be subject to anti-mo nopoly and competition laws. These laws will govern Red Bull’s intended joint venture with Oronamin-C. In addition, since Red Bull is an energy drink, the launch of the product in Japan will also be subject to health laws. These laws ensure that the drink complies with Japan’s health safety standards. Comprehensively, Red Bull’s venture into Japan is mainly subject competition and health laws. Conclusion Red Bull has managed to remain relevant through the international market because of its robust marketing strategy. Its expansion into Asia has been largely successful because of its successes in China and the Philippines. This paper’s proposal for the company to venture in Japan is largely cautious because Japan’s energy drink market is highly concentrated. However, since this paper proposes a joint venture plan, most of the risks associated with operating in a concentrated market diminish. Consequently, Red Bull will achieve significant success in this market. Works Cited Asia Law 2005, Doing Business in Japan. Web. Berends, William. Price and Profit: The Essential Guide to Product and Service  Pricing and Profit Forecasting, New York: William R. Berends, 2004. Print. Credit Management World 2012, Export Documents. Web. Euromonitor International 2011, Red Bull plans Asian expansion. Web. Gilliam, Dean. Quantum Leap: The Next Generation, New York: Ross Publishing, 2005. Print. IBS Centre of Management Research 2012, Red Bull’s Innovative Marketing:  Transforming a Humdrum Product into a Happening Brand. Web. Jain, Purnendra. Japan’s Subnational Governments in International Affairs, London: Routledge, 2005. Print. Jetro 2012, Promoting foreign direct investment (FDI) into Japan. Web. Karan, Pradyumna. Japan in the 21st Century: Environment, Economy, and Society, Kenturcky: University Press of Kentucky, 2010. Print. Meiners, Roger. The Legal Environment of Business, London: Cengage Learning, 2011. Print. Trost , Thilo. Joint Ventures: The benefits and perils – why some are successful and  others fail, New York: GRIN Verlag, 2011. Print. World Bank 2012, GDP per capita (current US$). Web. This essay on Red Bull Company Marketing Strategy was written and submitted by user J0nah to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

John Hopkins OpenCourseWare (Free Online Classes)

John Hopkins OpenCourseWare (Free Online Classes) John Hopkins University OpenCourseWare Basics: John Hopkins University offers dozens of free health-related courses as a part of its OpenCourseWare collection. Students can use OpenCourseWare material such as syllabi, lecture notes, and reading schedules to study topics such as nutrition and mental health. These are the same materials used in traditional courses offered at the renowned John Hopkins Bloomberg School of Public Health.Like other OpenCourseWare initiatives, the courses available through John Hopkins do not provide interaction with instructors and cannot be used to earn college credit. They are designed for self-study. Where to Find John Hopkins OpenCourseWare: All free online classes can be found on the John Hopkins Bloomberg OpenCourseWare website. How to Use John Hopkins OpenCourseWare: Most John Hopkins OpenCourseWare classes contain a brief overview in the lecture notes, not an entire transcript. Since the lecture notes are limited, you may want to consider acquiring the suggested reading materials and following the syllabus to get a more complete understanding of the subject.Most lecture notes and readings must be downloaded to your computer in PDF format. If you don’t have a PDF reader, you may download one from Adobe for no cost. Top Free Online Classes from John Hopkins University: Self-learners have dozens of John Hopkins OpenCourseWare classes to choose from. Popular general interest courses include:Critical Analysis of Popular Diets and Dietary Supplements – An overview of scientifically proven weight-loss strategies preparing learners to analyze diet plans.Environmental Health – A survey of health issues in relation to the environment.Family Planning Policies and Programs – An explanation of family planning issues in developing countries. Students studying these materials study family planning as a human rights issue and learn how programs are implemented in poverty-stricken areas.

Research Paper on Insurance

Research Paper on Insurance The conception of insurance is the spreading of risks for a few individuals, among many. This is done when individuals and businesses pay a premium to an insurance company to cover them in case of a catastrophic occurrence. In other words, we all pay premiums in case something happens to one of us. Believe it or not, this simple concept is what drives the existence of all insurance companies. As much as we all complain about insurance, we all have it. If something happens, we can’t afford to be without it. The attached article from â€Å"Business Insurance† magazine, an insurance industry publication outlines some ideas that make me think our insurance rates are going to go a lot higher before they come down at all. In order for me to make my case, I think it’s necessary to review a basic concept of insurance that is referred to in this article. The very concept that Im referring to is called an underwriting profit. The insurance industry would have us believe that underwriting and rating insurance policies is a complicated procedure. However, when you break it down to its simplest form, insurance is just like any other business. Profits are what’s left when you subtract expenses (dollars out) from revenues (dollars in). In insurance terms, this means a combined expense ratio far enough below 100 % to allow for an acceptable profit. In other words, how much is it going to cost to underwrite, issue, and service a policy and how much does the insurance company expect to pay in claims? If there is money left, that’s an underwriting profit. If the expenses and losses are higher than the premium collected, that’s an underwriting loss. If the insurance industry accepts the concept laid out in the article by the chairman of Lloyd’s of London, Peter Levene, my opinion is not only are insurance rates going to rise but all kinds of coverage is going to be harder to get. If the insurance companies can no longer count on high incomes from their investments, their profits have to come from another source. Us, the customers. While this may not seem entirely fair, I’m sure very few people complained when rates were low. The disturbing point Lord Levene eludes to is that he advocates pursuing an underwriting profit even when investment returns are high. This is disturbing because in the past as the investment markets changed and higher returns were being earned. The insurance customer shared in these returns in the form of lower premiums and easier underwriting. For example, the premium for a particular business when investments are bad might be $10,000. In the past, when investments were good, that same busine ss might have paid only $6,000 for their coverage. Assuming Lord Levene’s position is accepted, that $10,000 premium would remain constant regardless of how much the insurance company was making on their investments and would only rise if the markets turned even worse. To make things even more difficult, if this business had suffered any claims, they are at greater risk of having their coverage cancelled. At that point, this company would be forced to find a new insurance carrier. This is where things could begin to spiral out of control. Assuming the new insurance carrier is also looking for an underwriting profit, they would be forced to add the cost of what they consider to be a higher risk of claims to their expenses and this $10,000 policy might now cost $15,000. The customer now has a decision to make. Accept the higher premium and absorb the cost or pass this cost to their own customers in the form of a price increase. At this point you may be wondering how all of this relates to why â€Å"my rates are so high.† My thinking is simply this. If the business insurers subscribe to Lord Levene’s theories, then the personal insurers will probably not be very far behind. I have the unique perspective of a father with twenty-three years experience in the insurance industry, which gives me some insight as to â€Å"why my rates are so high.† I pay around $3,000 a year for my car insurance. According to my father, the reason is that the insurance companies feel that due to my age and lack of driving experience, I am more likely to have an accident. This likelihood comes back to me in the form of higher rates. While I may never have that accident, other members of my age group have in the past been in more accidents than any other age group. Statistically, that makes me a less desirable risk than someone in another group. For example, my parents pay less than the $3,000 I pay to insure both their cars. Another factor is geography. Where you live has as much to do with your rates as what group you belong to and what your claims history is. While my $3,000 premium seems ridiculously high, the premium for the same coverage might be as much as $4,000 just ten miles west of where I live. Move me to Brooklyn and that rate would be more than $7,000. This seems extremely unfair to me. Why should where I live have any bearing on my rates? The answer apparently has to do with the same logic that makes younger drivers pay more than more experienced drivers. It seems that insurance companies not only group drivers by age but by other factors, such as population density (how many more cars are there in a given geographical area?), claim frequency (how many more claims are there in Brooklyn vs. Eastern Suffolk County?). The companies also take in to account moving violations. Statistically speaking again, a driver with multiple traffic violations is an accident waiting to happen. Add to that, the logic that someone who makes a habit of passing stop signs or red lights is individually increasing the probability that they will be involved in some type of loss. People who drive fast not only have the increased probability of loss but also because of the speed, increase the probability of a more severe loss. Thereby costing the insurance company, and all of us, that much more money. This is why insurance companies either refus e insurance or at the very least charge much more for drivers with violations on their records. While all of this barely scratches the surface of what insurance companies look at when determining their rates, it does give us a pretty good idea of what we can do to keep our rates as low as possible. One thing would be to live in an area with less people and lower crime rates. For most of us, this is impossible. So what can we do without moving so far into the country that our nearest neighbors live five miles away? For one thing, avoid accidents and don’t pile up the moving violations. All I can say is that as unfair as insurance seems, ultimately the blame for higher rates rests with all of us. If no one ever had an accident, all we would have to insure against would be fire and theft. Since no one ever having an accident is not realistic, we can thank the powers that be for greed. If the insurance companies can find a way to make more money, you can bet they will do it. So while Lord Levene’s theories are disturbing, we can count on the overriding greed of the insurance companies to offset the theory of always making an underwriting profit. What I am trying to say is that when the investment markets are good, insurance companies make more money. As long as they can make more money by writing more policies at lower rates then by looking for that pie in the sky underwriting profit, that’s exactly what they will do. You can always tell when an insurance company is doing well in the market. Rate increases are few and far between and the company is writi ng more policies. When the market turns bad as it is now, insurance companies raise rates and reduce the number of new policies they sell. When you consider all of the factors that go into what an insurance company charges, combined with all the different laws and regulations they are required to comply with from state to state, it’s understandable why rates are what they are at any given time. So I guess the answer to my question is not as easy as my first thought. Between investment markets, geography, age group, driving experience, prior loss history, and driving record, it’s a wonder how they come with any rates that we can afford and still stay in business. I am not sure if I agree or disagree with the logic and statistics used by the insurance companies but I am sure of one thing. My rates are too high! You can also order a custom essay, term paper or research paper on insurance at our professional custom writing service which provides students with high-quality custom written papers. Here is a list of the most popular insurance research paper topics:   The history of insurance law in Britain   Insurance Reform   Insurance Planning   Insurance companies should be allowed to use genetic testing before giving someone health or life insurance.   High insurance rates have nursing homes going bare  How Insurance Works   Importance of Car Insurance   Global insurance   Reliable Insurance Case Study   Quicken Insurance Case Study

Management PortfolioHAVARD SYSTEM Essay Example | Topics and Well Written Essays - 4000 words

Management PortfolioHAVARD SYSTEM - Essay Example subjects within themselves – Construction engineering, Irrigation engineering, Transportation engineering, Soils and Foundation engineering, Geodetic engineering, Hydraulic engineering, and Coastal & Ocean engineering. Civil Engineering is & will continue to be the most rewarding & vibrant profession in this century. However, the kind of work associated with the engineering profession will continue to change depending upon the changes in the management portfolio of the profession. The ongoing rapid technological enhancements, the population explosion and the ever increasing global environmental issues are continuously changing the methodology in which the civil engineering activities were being carried out across the globe. Also, gradually the work is being linked to the local societal changes with the changing influences of the government and privatization. In the modern world, the Civil Engineering profession possesses more accountability beyond the engineering activities itself. It is required take into consideration the global perspective of the life supporting resources as they are declining due to increased consumption. In the modern scenario, Civil Engineering projects cause major changes in the local society, culture, habitats, plants, animals & the well being of the citizens of a country. Virtually all the civil engineering structures are unique as they are designed with some specific tasks in mind for some specific location. Any Civil Engineering completion project comprises of five different activities as follows: Figure 1 shows the various primary engineering & management processes & systems that impose a great amount of impact on the civil engineering work as well as the impact of the civil engineering projects on the local society and the natural environmental aspects, in the locality, region as well as the global environment. The Management portfolio of a Civil Engineering company may differ from organization to organization depending upon the

ANALYSIS Research Paper Example | Topics and Well Written Essays - 500 words

ANALYSIS - Research Paper Example 73). This poses a threat to the aircraft industry in that trains are going at speeds better than airplanes yet they are cheaper in terms of fare paid (Grimm, Lee & Smith, 2006, p. 98). In addition, it has been noted that trains and automobiles are more convenient as opposed to the airplanes (Grimm, Lee & Smith, 2006, p. 98). This is because the automobiles offer better services in terms of door to door deliveries. The aircraft industry faces this threat since delivery of both goods and people is restricted to the airports (Grimm, Lee & Smith, 2006, p. 101). Travelers however are opting to use more convenient and cheaper means. As such, aircrafts like Bombardier Aerospace face the most significant substitutes as being commercial airlines (Grimm, Lee & Smith, 2006, p. 55). This lies in the cost incurred since the cost of boarding a flight on an air taxi is approximated to be the same as the cost of a coach airline ticket (Grimm, Lee & Smith, 2006, p. 55). Based on this, it is noted that 8.12% of the first class commuters have shifted to private jets (Grimm, Lee & Smith, 2006, p. 87). This can be blamed partly on the post-9/11 disturbances of airline voyage, ineffective airfields and profitable airlines as well as contemporary emphasis on time and effectiveness (Grimm, Lee & Smith, 2006, p. 99). People actually values time and the efficiency in which the airlines are operating. Strengths of the Southwest Airline Company are inclined on the corporation’s growth as well as the internal environment (Lauer, 2010, p. 29). The company has a superior clientele service culture, operational strategy within the firm as well as the capacity to provide the lowest costs in terms of fare (Lauer, 2010, p. 29). These are some of the issues that have contributed to its fast development and survival within the 2009 recession in aircraft industry (Lauer, 2010, p. 31). The company’s operational strategy gives room for the airline to measure the recession with

Alternative education Essay Example for Free

Alternative education Essay E-learning is an excellent option in education, particularly when there are hindrances to traditional learning situations. For example, some people wish to continue their educations but do not live within driving distance of a college or university and dont find it feasible to relocate. E-learning is a viable alternative for these students. Another hindrance to traditional learning, especially in grades K through 12, is the one size fits all mentality it embraces. Many students just do not learn well in a traditional learning environment, but thrive in a more flexible setting. To address this issue, parents are turning to e-learning opportunities for their children. Some choose full-time enrollment in a virtual school, while others use e-learning to supplement a home school curriculum. In the business world, e-learning provides a way for companies to train and instruct employees without requiring them to travel to a central location. Convenience is one of the major advantages of e-learning. It allows students to work and learn at their own pace without the unyielding time restrictions of traditional learning. Because e-learning provides access to learning materials at any time, students have the flexibility to schedule around families, jobs and other activities. Another major benefit of e-learning is the accessibility it provides. Students can learn from anywhere in the world. This is an especially important consideration for students who wish to study in a different country. In addition, because e-learning can be done from home, students have less clothing and driving expenses than with traditional learning. A major disadvantage to e-learning is the self-discipline it requires. While being able to work at your own pace can be an advantage, it can also be a disadvantage. This is especially true for students who have difficulty with time management and procrastination. These students tend to be more successful with the structure of traditional learning. Another disadvantage to e-learning is the technology involved. Some people do not have ready access to a computer and Internet connection. And some who do have the required equipment feel ill-equipped to use it. Lack of interaction between teacher and student is another drawback to e-learning. Some students need the immediate feedback that interaction provides. E-learning greatly increases the availability of educational opportunities. Unfortunately, it also increases the number of scams related to online education. Persons considering e-learning possibilities should be alert to such scams and thoroughly investigate any program before making a commitment.

The Fat Cow Complex :: essays research papers

It’s mid-June. I graduated a few days earlier and here I am sitting nervously on a bench outside Lane Bryant, staring at the gate It’s my first job interview ever. I’m nervous as hell. I must have dried my hands fifty times on my dress but they’re still sticky with sweat. A woman comes to the front and opens the gate. She asks my name, I tell her. She nods, smiles, shakes my hand, introduces herself as Fran and tells me how cute I look. I beam and thank her. I’m not used to compliments. One of the questions she asks me is what my best shopping experience was like. I rack my brain. What kind of question is that? I think. Taking a deep breath I reply that it would have to be the first time I ever shopped there, at Lane Bryant. She looks at me skeptically. I explain how my mom guided me there after a long discouraging day of school clothes shopping. To pacify her, I follow and try on jeans and a t-shirt. I leave the dressing room to model for Mom and the sales lady squeals over how good I look. I’m taken aback. Somewhere in the back of my mind I know that she does this to make the sale but it’s the first time I’ve ever been complimented by a salesperson. I feel welcome here. I don’t get the â€Å"You? You think you’ll be able to buy anything here?† look. By the end of my story I’m nearly in tears. I smile sheepishly. I get the job. As I leave, Tess, another woman who works at the store, tells me I look great. I do. I am beautiful.   Ã‚  Ã‚  Ã‚  Ã‚  Early July. Mel invites twenty of her closest friends to swim in her pool after a barbecue at the beach. I’m standing on the deck, beach towel wrapped around me. Everyone else is in the pool. I’m trying to think of the least conspicuous way to slip into the warm inviting pool. Amanda notices I’m just standing there and calls for me to join them, also calling everyone's attention to me. I swallow the huge lump in my throat, throw my towel over the rail and jump in the water, praying no one saw the jiggling of my thighs as I leapt. Later they’re having chicken fights and I’m floating alone in the deep end.

Market Timing and Capital Structure for Baker and Wurgler

It is well known that firms are more likely to issue equity when their market values are high, relative to book and past market values, and to repurchase equity when their market values are low. We document that the resulting effects on capital structure are very persistent. As a consequence, current capital structure is strongly related to historical market values. The results suggest the theory that capital structure is the cumulative outcome of past attempts to time the equity market. Introduction â€Å"Equity market timing† refers to the practice of issuing shares at high prices and repurchasing shares at low prices. Equity market timing appears to be an important aspect of real corporate financial policy. In this paper, B&W ask how equity market timing effects capital structure and whether it has a short-run or long-run impact. The variation in market-to-book ratio is a proxy for manager’s perceptions of misevaluation. The main finding is that low leverage firms are those that raised funds when their market valuations were high (measured by the book-to-market ratio), while high leverage firms are those that raised funds when their market valuations were low. The influence of past market valuations in capital structure is economically significant and statistically robust. The influence of past market valuations on capital structure is also quite persistent, this means that they have a long-run impact. The tradeoff theory predicts that temporary fluctuations in the market-to-book ratio or any other variable should have temporary effects. The evidence however indicates long-term effects as well. The standard pecking-order theory implies that periods of high investment will push leverage higher toward a debt capacity, not lower as the results in this paper suggest. The theory of entrenched managers suggests that managers exploit existing investors ex post by not rebalancing the capital structure with debt, this may be an explanation of the findings in this paper. 1. Capital structure and past market valuations Individual financing decisions depend on market-to-book ratios. Does market-to-book affects capital structure through net equity issues as market timing implies? And does market-to-book has persistent effects that help to explain the cross section of leverage? Data and summary statistics. Table I shows that book leverage decreases sharply following the IPO. Over the next 10 years, it rises slightly, while market value leverage rises more strongly. The book leverage trend is an age effect, not a survival effect. Most notable is the sharp switch to debt finance in the year following in the IPO. Under B&W’s definitions for financing activity, the change in assets is equal to the sum of net debt issues, net equity issues, and newly retained earnings. The concurrent increase in equity issues is suggestive of market timing. Determinants of annual changes in leverage B&W document the net effect of market-to-book on the annual change in leverage. Then they decompose the change in leverage to examine whether the effects comes through net equity issues, as market timing implies. Three control variables are used that have been found to be correlated to leverage: Asset tangibility, profitability, and firm size. B&W regress each component (equity issues, debt issues, and newly retained earnings) of changes in leverage on the market-to-book ratio and other independent variables. This allows them to determine whether market-to-book affects leverage through net equity issues, as market timing implies. The effect of market-to-book on changes in leverage does indeed come through equity issues. Panel C shows that market-to-book is not strongly related to retained earnings, ruling out the possibility that market-to-book affects leverage because it forecasts earnings. The effect of profitability on changes in leverage arises primarily because of retained earnings. Firm size plays an important role at the time of the IPO. Determinants of leverage. If managers do not rebalance to some target leverage ratio, market timing may have persistent effects, and historical valuations will help to explain why leverage ratios differ. The relevant historical variation in market valuations is measured by the â€Å"external finance weighted-average† market-to-book ratio. This variable takes high values for firms that raised external finance when the market-to-book ratio was high and vice-versa. The intuitive motivation for this weighting scheme is that external financing events represent practical opportunities to change leverage. It therefore gives more weight to valuations that prevailed when significant external financing decisions were being made, whether those decisions ultimately went toward debt or equity. This weighted average is better than a set of lagged market-to-book ratios because it picks out, for each firm, precisely which lags (intervals) are likely to be the most relevant. Intuitively the weights correspond to times when capital structure was most likely to be changed. When firms go public, their capital structure reflects a number of factors, including market-to-book, asset tangibility, size, and research and development intensity. As firms age, the cross-section of leverage is more and more explained by past financing opportunities, as determined by the market-to-book ratio, and past opportunities to accumulate retained earnings, as determined by profitability. Historical within-firm variation in market-to-book, not current cross-firm variation, is more important in explaining the cross section of leverage. The results from Table III and IV show that the effect of historical valuations on leverage is large and separate from various effects documented in prior literature. Persistence So far two main results have been documented. First, high market valuations reduce leverage in the short run. Second, historically high market valuations are associated with lower leverage in the cross section. By measuring changes from the leverage prevailing in the year before the IPO, the dependent variable includes the effect of the IPO itself. This is useful because the IPO is a critical financing event known to be connected to market value. Historical market valuations have large and very persistent effects on capital structure. This effect is independent of various control variables. 2. Discussion Tradeoff theory In perfect and efficient markets capital structure is irrelevant. Some of the imperfections that lead to an optimal tradeoff are as follows: Higher taxes on dividends indicate more debt, higher non-debt tax shields indicate less debt, higher costs of financial distress indicate more equity, agency problems can call for more or less debt. The market-to-book ratio can be connected to several elements of the tradeoff theory but it is most commonly attached to costly financial distress. The key testable prediction of the tradeoff theory is that capital structure eventually adjusts to changes in the market-to-book ratio. However, evidence indicated that variation in the market-to-book ratio has a decades-long impact on capital structure. B&W’s results make the point that a considerable fraction of cross-sectional variation in leverage has nothing to do with an optimal leverage ratio. Pecking order theory In the pecking order theory there is no optimal capital structure. The static model predicts that managers will follow a pecking-order (internal, debt, equity). The pecking order theory regards the market-to-book ratio as a measure of investment opportunities. Periods of high investment opportunities will tend to push leverage higher toward a debt capacity. However, to the extent that high past market-to-book actually coincides with high past investments, B&W’s results suggest that such periods tend to push leverage lower. The dynamic version predicts a relationship between leverage and future investment opportunities. B&W’s results control for current market-to-book and show that leverage is much more strongly determined by past values of market-to-book. Managerial entrenchment theory High valuations and good investment opportunities facilitate equity finance, but at the same time allow managers to become entrenched. They may then refuse to raise debt to rebalance in later periods. Market timing theory Capital structure evolves as the cumulative outcome of past attempts to time the equity market. There are two versions of equity market timing. The first is a dynamic form with rational managers and investors and adverse selection costs that vary across firms or across time. Temporary fluctuations in the market-to-book ratio measure variations in adverse selection (information asymmetry). The second version of equity market timing involves irrational investors or managers and time-varying mispricing. If managers try to exploit too-extreme expectations, net equity issues will be positively related to market-to-book. The critical assumption is that markets need not be inefficient, managers may simply believe that they can time the market. 3. Conclusion A variety of evidence suggests that equity market timing is an important aspect of real financial policy. This evidence comes from analyses of actual financing decisions, analyses of long-run returns following equity issues and repurchases, analyses of realized and forecast earnings around equity issues, and surveys of managers. We find that fluctuations in market valuations have large effects on capital structure that persist for at least a decade. The most realistic explanation for the results is that capital structure is largely the cumulative outcome of past attempts to time the equity market.

Tom Brennan Speech

In life, everybody faces obstacles that have to be encountered. Sometimes they are good, and other times they are bad. I think it’s the individual coping with these new experiences that leads to significant rewards and life skills that help make growing up and transitioning into society easier. This is shown in the text we studied in class; ‘The Story of Tom Brennon’ by JC Bourke which is a story told through the eyes of 17 year old Tom Brennon. He has to encounter new experiences due to a horrific car accident his brother Daniel caused, killing two and paralyzing his cousin. The whole family suffers as they are forced from their hometown of Mumbilly due to society’s reaction to the death of their loved ones. This is hard on the whole family as they were so loving and devoted to their home town, especially Tom who was exceptionally close to his brother Daniel. Tom finds it quite hard to come to terms with all the new changes: a new town, no brother, living with his Nan. These are all things Tom finds difficult to adapt to. It makes it not just hard on himself, but also to the other people trying to help him. Tom learns to cope with his misery, adapt and fit in to a new school and make new friends. His involvement in rugby makes it easier to start to transition into a new town. Tom starts to build a strong relationship with his uncle Brendan who helps the family make their transition into their new town Coghill. Tom feels as though his Uncle is finally someone he can talk to about his emotions. Brendan encourages Tom to go for runs and the ‘ascent’ becomes a metaphor for his mental and emotional progress. As the runs get easier, Tom begins to become more flexible to the idea of new experiences. Towards the end of the story you get to see the old Tom Brennon again, happy and full of life. This is shown through his relationship with Chrissie a girl who Tom falls in love with. Old Tom never used to speak to girls as that was always Daniels talent, but things have changed. Through their relationship, Tom begins to talk about the accident, and how he felt about it and was affected. By talking to Chrissie he starts to realise that he isn’t the only one who has lost someone they are close to. Chrissie lost both of her parents to alcohol and other substance abuse, she doesn’t let this pull her down. Chrissie shows how she has also had to experience hardship but comes through these obstacles with a greater awareness of life. Encountering obstacles is also highlighted in the magazine article ‘2 of Us’ by Carla Grossetti, a tragic story of twin brothers Jamie and Andrew Daddo. They encountered a similar experience to Tom and Daniel, with both having to make dramatic changes to their lives and how they cope. This was caused when Jamie was in a drunken state and was hit by a car causing a serious head injury when he was only 18, permanently placing him in a wheel chair. In the article readers are told of the accident through the perspective of each twin, which gives an insight like Tom, of their reactions to each obstacle. The brothers tell you how they had to stick together, as it was hard times for both of them. Both brothers successfully made their change into the new world and have gained significant rewards. Jamie has learned to accept his dilemma and has learnt valuable life lessons. Jamie now paints and he says that this is something that makes him feel ‘normal again’. Jamie has also found his love, a lady Annie who is a special needs teacher. Andrew has also learnt valuable lessons from the accident and is now a father of three and also a children’s author/ TV presenter. Both texts talk of how individuals have faced difficult and extreme circumstances. These new experiences highlight how they have to encounter challenges and then overcome these obstacles. With the help of their families and friends they gain significant rewards. This is summed up with Jamie Daddo saying â€Å"I now value what I have and appreciate it’s the little things that are important. I think I’m a better person now. †

Draw Yourself A Venn Diagram And Use It To Note Similarities Essays

Draw Yourself A Venn Diagram And Use It To Note Similarities Essays Draw Yourself A Venn Diagram And Use It To Note Similarities Essay Draw Yourself A Venn Diagram And Use It To Note Similarities Essay This protagonist makes an error in judgment. This error results in suffering for the person. This suffering causes pity or fear in the audience. Hubris Missionaries Hamster Peripatetic Catharsis If you have forgotten what a Venn diagram looks like, here is an example to remind you. If your Venn diagram contained some of these points, you have been successful in your analysis. These are just sketches of ideas to show a variety of possibilities Your own work should be more carefully organized. Hamlet Similarities Gag anemone Hamlet takes revenge. Both plays are about a prince or king, who is clearly someone of high status. Agamemnon is the victim of revenge. Hamlet tends to be humble yet plots the death of a king. Both tragic heroes make an error of judgment. Agamemnon shows hubris by walking on the red carpet and taking a concubine yet he is a known daughter-killer. Several of the murders in Hammerlocks on-stage. Both Agamemnon and Hamlet suffer and die. The two murders imagination occur off-stage. Hamlet has more admirable qualities than Agamemnon appears to have. The audience feels pity for both men. We dont learn many positive things about Agamemnon other than his popularity and battle victories. Hamlet involves subplots, such as the plight of Aphelia. The fortunes of both men are suddenly reversed and they are put in a vulnerable position with their murders being plotted. Agamemnon does not involve subplots. The women in Hamlet, while important, are minor characters with little dialogue. Both Hamlet and Agamemnon hurt the women in their lives. The women imagination have more prominent roles in the plot, with many nines of dialogue. Hamlet seems more torn and reluctant to take revenge. Both Clytemnestra and Hamlet are motivated by revenge for the wrongful death of a loved one and they use deceit as part of their plans. Clytemnestra looks forward to the task of revenge. Hamlet has never been emotionally close to his uncle Claudia. Clytemnestra and Hamlet put aside any previous feelings of love for others as they focus on their task Of revenge Clytemnestra has had a much closer relationship with Agamemnon, than Hamlet had with Claudia.

History of Matches - Inventors and Methods

History of Matches - Inventors and Methods If you need to start a fire do you rub sticks together or break out your handy flint? Probably not. Most people would use a lighter or a match to start a fire. Matches allow for a portable, easy-to-use source of fire. Many chemical reactions generate heat and fire, but matches are a fairly recent invention. Matches are also an invention you probably wouldnt choose to duplicate if civilization ended today or you were stranded on a desert island. The chemicals involved in modern matches are generally safe, but that wasnt always the case: 1669 [Hennig Brand or Brandt, also known as Dr. Teutonicus] Brand was an Hamburg alchemist who discovered phosphorus during his attempts to turn base metals into gold. He allowed a vat of urine to stand until it putrified. He boiled the resulting liquid down to a paste, which he heated to a high temperature, so that the vapors could be drawn into water and condensed into... gold. Brand didnt get gold, but he did obtain a waxy white substance that glowed in the dark. This was phosphorus, one of the first elements to be isolated other than those which exist free in nature. Evaporating urine produced ammonium sodium hydrogenphosphate (microcosmic salt), which yielded sodium phosphite upon heating. When heated with carbon (charcoal) this decomposed into white phosphorus and sodium pyrophosphate:(NH4)NaHPO4 - †º NaPO3 NH3 H2O8NaPO3 10C - †º 2Na4P2O7 10CO P4Although Brand tried to keep his process a secret, he sold his discovery to a German chemist, Krafft, who exhibited phosphorus throughout Europe. Word leaked out that the substanc e was made from urine, which was all Kunckel and Boyle needed to work out their own means of purifying phosphorus. 1678 [Johann Kunckel]Knuckel successfully made phosphorus from urine. 1680 [Robert Boyle] Sir Robert  Boyle coated a piece of paper with phosphorus, with a separate splinter of sulfur-coated wood. When the wood was drawn through the paper, it would burst into flame. Phosphorus was difficult to obtain at that time, so the invention was only a curiosity. Boyles method of isolating phosphorus was more efficient than Brands: 4NaPO3 2SiO2 10C - †º 2Na2SiO3 10CO P4 1826/1827 [John Walker, Samuel Jones] Walker serendipitously discovered a friction match made from antimony sulfide, potassium chlorate, gum, and starch, resulting from a dried blob on the end of a stick used to stir a chemical mixture. He didnt patent his discovery, though he did show it to people. Samuel Jones saw the demonstration and started to produce Lucifers, which were matches marketed to the Southern and Western U.S. states. Lucifers reportedly could ignite explosively, sometimes throwing sparks at a considerable distance. They were known to have a strong firework odor. 1830 [Charles Sauria] Sauria reformulated the match using white phosphorus, which eliminated the strong odor. However, the phosphorus was deadly. Many people developed a disorder known as phossy jaw. Children who sucked on matches developed skeletal deformities. Phosphorus factory workers got bones diseases. One pack of matches contained enough phosphorus to kill a person. 1892 [Joshua Pusey] Pusey invented the matchbook, however, he placed the striking surface on the inside of the book so that all 50 matches would ignite at once. The Diamond Match Company later purchased Puseys patent and moved the striking surface to the exterior of the packaging. 1910 [Diamond Match Company] With a worldwide push to ban the use of white phosphorus matches, the Diamond Match Company got a patent for a non-poisonous match which used sesquisulfide of phophorus. U.S. President Taft requested that Diamond Match give up their patent. 1911 [Diamond Match Company] Diamond yielded their patent on January 28, 1911. Congress passed a law placing a prohibitively high tax on white phosphorus matches. Present Day Butane lighters have largely replaced matches in many part of the world, however matches are still made and used. The Diamond Match Company, for example, makes more than 12 billion matches a year. Approximately 500 billion matches are used annually in the United States. An alternative to chemical matches is fire steel. Fire steel uses a striker and magnesium metal to produce sparks which may be used to start a fire.

Limits of Human Knowledge and Experience Essay Example | Topics and Well Written Essays - 1000 words

Limits of Human Knowledge and Experience - Essay Example This essay highlights that  mathematician Leibnitz has contributed to our understanding of human limitations in acquiring knowledge.   He famously coined the term â€Å"human finitude†, behind which were questions such as â€Å"How much can someone possibly know? What could reasonably be viewed as an upper limit of an individual's knowledge--supposing that factually informative knowledge rather than performative how-to knowledge or subliminally tacit knowledge is to be at issue?† To essay an answer to these questions, let us consider a hypothetical attempt by a human to acquire maximum knowledge.   For this thought experiment, we are assuming that this hypothetical person has perfect recall and an infinite memory.  Ã‚  According to the report findings  in the Western intellectual tradition that has evolved over the last two millennia, knowledge was the â€Å"essential resource for those mortal and particular human beings struggling to cope with a world that c ould be imagined as being independent from any observer.† Scientific endeavor was thus directed to make knowledge independent of the observer (subjective) into an enduring truth.  For a human being to ‘know’ something is one way of gaining access to that aspect of the world.   The tradition of ‘reasonable knowledge’ is one that brings into concurrence an individual’s observation through sight, sound and logical analysis with the truth associated with the object being studied.

Three Major Problems in Nigeria Essay Example | Topics and Well Written Essays - 1750 words - 1

Three Major Problems in Nigeria - Essay Example This research will begin with the statement that developing countries face various problems leading to slow economic growth and other tribulations. It is the same problems, which lead to unemployment raising social issues, as well as sophisticated settlements. In as much as different countries employ varied strategies to counter the problems; they remain dominant as the countries lack proficient mechanisms. Majority of developing countries depend on developed countries a factor, which not only slows development but also exploit the available resources in the countries. Nigeria is one developing country, which faces diverse problems. Most African countries have a characteristic of political instability. This underscores the depth of development leaving people midst abundant resources with little development. In the past, many years, stagnation remains evident among many African countries due to political instability creating a rising tide of poverty, poor infrastructure and decaying o f public utilities. Nigeria gets described by scholars as an unfinished state, and a truculent African disaster, this is because of the abundant natural resources present in the country, which instead of improving the economic condition of the country, has propelled the vicious cycle of poverty. Nigeria is rich with enormous oil resources that warrant it a name of a giant African country. On the contrary, it remains a minute country due to the political instability of parochial leadership, which considers personal survival rather than national development.

Reading response Essay Example | Topics and Well Written Essays - 500 words - 3

Reading response - Essay Example The author suggests that when situations of high infant mortality and high fertility exist, the passing away of a young one is the custom for poor households. Mothers do not feel distressed when a frail infant dies, and motherly acceptance of child death may put at risk the life of other children (Scheper-Hughes 324). This illustrates that mothers only invest in children who they expect to survive, detach themselves psychologically from susceptible children and withdraw care and affection. This notion rebuffs contemporary research on the mother-child relation and the view that motherly love is a universal occurrence. The author refers to this as the modern bourgeois view. In the community, it is perceived that motherly love is meaningful and priceless and that the mother’s kindness cannot be repaid. Nonetheless, we cannot be assuming the same thing about women who anticipate and wish for their baby’s demise. It is even more difficult to presume that any woman would want a terrible thing to happen to her young one. The account of the attitude towards child mortality is distressing. This is a demonstration of human adaptability, though not the ecstatic of such demonstrations. A number of communities find motherly love to be stout that it cannot be influenced by anything. A genuine mother can never allow her child or children to pass on without a fight. This stance differentiates mothers from other regular individuals in a way. Nevertheless, it essential to understand mothers are humans first, like the rest of the people. The quality of a person’s life is largely dependent on issues beyond his control or a society. Resources may be the most vital of issues. These make motherly love subject to the accessibility of resources in the society. Over a period, a community that does not have adequate resources must change its view to the situation. Born Jesus is an example of such an occurrence

Organizational structure of the business Essay Example for Free

Organizational structure of the business Essay Businesses can take different approaches on the way they structure the organization of their business. The different types of structures include flat, matrix, and tall. These represent hierarchical, centralized and decentralized forms of organization. These different structures are used in different types of organization relating to the needs the business may require. In a tall structure there are many levels. People of different status within the business take each level. This is hierarchical. As the levels get higher in the structure, the power and responsibility usually increases. In a tall structured organization there would the top layer of the structure but many at the bottom represent few people. This structure would be used in a large business where there would be many members of staff, many groups under different supervision. This form of organization would cause there to be a lack of communication throughout the business as issues would be passed through the levels, supervisors to managers and may never reach the managing director. Elements like this in a tall structure could lead to a lack of control throughout the business. Flat is another style of organizational structure. This is still of a hierarchical form yet there is less layers in the business. This is more of a democratic approach as there is a smaller span of control throughout the organization. As there is less levels in the structure there is less separate sections of power. The reduction in the amount of layers means that communication throughout the business is greatly improved therefore the managing director has a greater level of control over the business as a whole. This would be used in a smaller business. It would consist of a managing director followed by possibly a number of directors then supervisors then staff in a hierarchical fashion. A matrix approach can also be used. This is constructed by the business itself. It can be a democratic, autocratic or lassiez-faire approach or a mixture of the three. Very large businesses, PLC or LTDs use this. As the business is so large a tall matrix would not be appropriate as there would be a lack of interaction and control of the business would not be great. To prevent this happening, Boots designed a structure of its own. These are known as matrix structures. Each level has independent managers and spans of control that do not lead up or down the hierarchy of the business. Each level has independent managers and line supervisors so they are self-contained. The local span of control is the responsibility of the line manager. To keep communication strong within the business there is a strong chain of command throughout the structure. This ensures that any problems; ideas or achievement are known throughout the business. This approach keeps communication and control strong, as although there are a great number of people within the structure it is easy to find out what is happening at present through the chain of commanding supervisors who are responsible at that level. The different sections of the business that are present within the matrix are   Boots the Chemist Wellbeing services   Supply and support services   Boots Healthcare international Each of these sections (levels) of the business has line managers and supervisors. These communicate through the chain of command through out the business. This gives a firm structure of a high level of control and interaction, which is within the best interests of the smooth running of the business. The diagram below shows the set out of the business and how the different sections relate to each other. Within these sections the directing and supervisory structure is set out like this throughout the business This is Richard Baker; he is the chief executive of Boots PLC. He does not work in a store but control along with Howard Dodd Paul Bateman the running nationwide of the Boots Empire. They have control over every structure in every store throughout the country from managers to floor workers however it is rare they interact with any one but senior staff in the department stores. Boots to maximize the benefits created the matrix structure. This shows that they have taken their own approach upon their business and changed with the times. Using a matrix structure as the business expanded to the size it is now has proved beneficial and reaches an objective. Boots aimed to Develop, modernize technology and strategies. Using the matrix structure has been a form of modernizing therefore reaching a set objective. Boots aim of globalization would need to lead from a base of a stable market in the UK business sector. To gain a stable grasp in the UK economy Boots needs a stable business. The matrix structure consisting of effective interaction through out the levels and a hold on control ensures that the business runs smoothly and is stable in doing so. This reaches the objective of taking a strong hold in the UK business field, which can lead, to greater expansion and globalization. Companies can survive at a steady pace without altering too much about the workings of the business. However to expand, as Boots wish to, some of the most beneficial ideas may come from staff low down in the hierarchical structure. It is for this reason that the matrix structure is extremely beneficial as communication and interaction is strong between the levels so ideas can quickly be picked up on along with problems. This benefits the performance of the business and issues are quickly picked up on. This also contributes to the working towards of the objective relevant to expansion and customer loyalty as both business and custom seek to gain return from the matrix structures benefits and overall performance of the business as a whole. The matrix structure has many advantages that would not be applicable if the organization structure was of another form. The chain of command within the business ensures that the communication within the different groups is regular and effective. Within the boots organization there are many different sections that deal with different aspects of the business. The seven sections within the Boots group deal with their specific part of the business whether it is the chemist, retail or health care. The specialization within the business is a great advantage to all concerned. The staff employed in each of the sections are special trained in that area. Specialization is a great advantage to the business as it means that jobs can be carried out informatively and effectively. As staff is specialized in their area they provide great customer service as they are well educated in the fields in which they work. Empowerment enables the staff within the different sections to have freedom to do tasks that they are delegated without supervisions. This increases moral and self-motivation, as the staff feels confident and independent within the business. High motivation increases staff productivity, which improves the performance of the business. The span of control within the individual areas of the business ensures that the business is smooth running and any problems that occur can be dealt with quickly and efficiently. This is an advantage, as problems do not have to travel into other areas of the business through the chain of command. The separate sections of the business are independent in the way they work. This ensures the business has high levels of control throughout the whole business in all sections and all can be accessed quickly through the chain of command. All these are advantages that help a great deal towards improving the performance of the business for the reasons listed. Communication within Boots There are many different types of communication that businesses can adopt. Different forms of communication are used in different situations within a business. The main types of communication that are used now a day revolve around ICT. ICT stands for Information Communication Technology. Communication is used everyday from the second a business opens in the morning till the second that it closes. With out communication a business would never reach its full potential or have the smooth operations it could achieve. Within a large business, like a PLC or LTD like boots communication is essential. Without communication different sections of the business would not operate well together and issues could quickly fall out of hand. Communication through the chain of command is so important in keeping a business afloat and operating efficiently. Good communication ensures that the business keeps control and the top of the hierarchical structure is aware, or can easily find out the major movements from day to day. Between departments and hierarchical levels communication links must be strong as decisions and movements are often made that effect other departments. There are many different types of communication method. The specific sectors include   Written   Non-verbal. Verbal   Electronic Face to face Each of these has specific areas in which it is of most benefit to use. Different types of communication are used dependant on the issue that is relevant, who is sending it, and who is receiving it. It is important that communication towards employees is regular and efficient. This is because employees need to be kept informed of the movement of the business in all aspects. If there is product alterations or price changes employees must be informed straight away so that no problems occur within the business. Also information about extra shifts, overtime, work hours and bonuses, especially over Christmas are very important in the smooth operation and motivation of the staff. Supervisors and managers are usually the ones who would communicate with the staff. There are many methods that could be used. Employees could be informed and communicated with by the use of notice boards. This is a cheap method, which means that everyone can see the information present. This is a good method if everyone is aware there is a notice to be seen. This could easily be ignored or not notice quickly however. Letters with the employees pay slips are a good method to use, as it is likely that a very high majority of the employees will read them. This is good if it can wait till payday for the notice to go out although still staff may not read them. A team meeting at the beginning of the day is a very efficient way of communicating with staff as issues can be raised and the employees can communicate also. This means that everyone can be informed and there are no excuses why staff ignores issues raised. Employees who have computers (not floor workers) such as administration areas and HRM can be communicated with many more forms of modern communication such as email and uses of the Intranet. Managers and supervisors need to be able to receive communication from higher up in the chain of command and also to be able to distribute down the chain. This is very important. Higher levels in the hierarchical structure need to be able to communicate regularly and efficiently in order to hold a strong level of control over the business and make alterations and give advice where necessary. It is very important this area of the business is easy to communicate with so that no time is wasted in trying to do so. Managers in the Boots organization have offices in individual branches and headquarters; some supervisors also have computer access. This enables Boots to provide computers for the staff that is a great benefit when it comes to communication. The use of computers means that these managers can be easily and quickly communicated with via the use of email, Intranet messaging and time tabled events that may be stored and altered on network software that is specific to the Boots store. Different forms of communication are used in different parts of the business depending on different factors. These factors determine the form of communication and approach taken. These are described below.   Formal   Informal   Important   Urgent   Optional   Open to all   Sent to a specific person   Person   Impersonal   Relaxed   Who its aimed towards   Who its from Confidential This all affect what type of communication are used in different situations within the business. The different categories that the forms of communication fall into are know as the channels of communication.