The Era Of Music During Beethoven And Dido And Aeneas By...

Music is a crucial part of life. Conducting, composing, or listening to music are things most people do everyday. Music exposes feelings and portrays a part of history. Listeners enjoy different genres. They may like music of different tempos or dynamics. Many composers may only focus on one instrument to perfect. Regardless of taste or need for music, it is all important. Two of the important pieces learned in the beginning music class are Symphony No. 5 in C minor by Beethoven and Dido and Aeneas by Henry Purcell. A major historical event was well underway when Beethoven was born. The Age of Enlightenment was upon the world. The peak of the period was happening right as Beethoven was born. Philosophy, science, and politics were changed. Many believe this helped the Romantic period also (Enlightenment). During Beethoven’s early life, music was mainly classical. However, Beethoven was the main ingredient on changing his era of music. Beethoven studied under Haydn and Mozart, b ut they were not valuable relationships to him. Beethoven was mostly known for his great piano work. After branching out from more than the piano, Beethoven’s work took on a more Romantic feel. He put more emotion and expression in his work than he, or most artists, did previously. This grasp between stages was very productive for Beethoven; most of his best work was completed during this time (Brief). Ludwig van Beethoven was assumed to be born in Bonn, Germany, on December 16, 1770. He died in

Should Public Smoking Be A Smoke Free Campus - 825 Words

This source is published by the University of Illinois; it is the frequently asked question page. It was published this summer, therefore, I have recent information to back up my points. This source will be useful for my research question because it addresses topics about how campuses are continuing to eliminate smokers on campus, one way they eliminate it is by enforcing policies, however, if the polies are not followed there is a fined. In addition, it talks about why campuses are going smoke free, so this will be a great source to refer to when I address why I believe George Mason University should be a smoke free campus. Mostly importantly, the question if secondhand smoking is much of a problem is addressed. Many believe it is not a problem, therefore, when I talk about how it is a major problem I will refer to this site to get information to prove my point. Stansbury, Taryn. No More Smoking on Campus? Fox Business. FOX News, 15 Feb. 2013. Web. 24 Oct. 2015. http://www.foxbusiness.com/personal-finance/2013/02/15/no-more-smoking-on-campus/ This is a news article published by Fox Business. This article talks about how college campuses around the world are becoming smoke free. SO far, according to the article, over 1000 colleges have imposed smoke-free polices. This article is a great source for my research because it talks about the effect, smoke free polices, have had on college campuses. In addition, this articles contains opposing view on smoke free campuses.Show MoreRelatedSmoking on College Campuses1260 Words   |  6 PagesThe days of smoking on college campuses is coming to an end! (Daneman) The Department of Health and Human Services made an announcement, backed by the White house, to act on getting colleges everywhere to enforce a tobacco free campus! (Daneman) Smoking is a choice made amongst an individual and falls within the f irst amendment in the constitution along with eight more! 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According to an article titled â€Å"History of Smoke and Tobacco-Free UAA† (n.d.), â€Å"With the new policy, UAA joins more than 1,500 colleges and universities in the U.S. that are smoke or tobaccoRead MoreSmoking Bans Cut Number Of Heart Attacks993 Words   |  4 PagesSmoking Bans Allyna Reyna Ms. Piazza English IV, Period 1 November 3, 2015 Smoking Bans cut number of heart attacks, strokes smoking bans quickly and dramatically cut the number of people hospitalized for heart attacks, strokes and respiratory diseases such as asthma and emphysema. Heart attack hospitalizations fell an average of 15% after communities passed laws banning smoking in areas such as restaurants, bars and wore places, according to the largest analysis of smoke-free legislation to dateRead MoreCoffee and Cigarettes: Second-Hand Smoke and Smoke Free Law Summary and Questions855 Words   |  4 PagesField, P. (1922, October 10). Coffee and Cigarettes: Second-Hand Smoke and Smoke-Free Laws. National Center for Case Study Teaching in Science. Retrieved October 10, 1927, from www.sciencecases.org/secondhand_smoke/secondhand_smoke.pdf Coffee and Cigarettes: Second-Hand Smoke and Smoke Free Law Summary and Questions Joshua Davenport owned a coffee bar/bistro in the small town of Lackawaxen, Pennsylvania situated on the Delaware River. He wanted to bring the old world elegance to his rural communityRead MoreSmoking Should be Banned in Public Places Essays1464 Words   |  6 Pagescome to light that smoking kills. The federal government mandates that every pack of cigarettes carry a warning on it that smoking can lead to health problems including death. But the messages are rather clinical, for example: â€Å"Smoking Causes Lung Cancer, Heart Disease, Emphysema, and May Complicate Pregnancy.† Smoking is a danger to one’s own health but there is now evidence that smoking can affect others as well. Second hand smoke has been shown to cause cancer. Second hand smoke has been shownRead MoreChange Essay4238 Words   |  17 PagesINTRODUCTION ECU had previously been continually reviewing its smoking obligations in its campuses. In 2009 a formalised program was put in place to explore the opportunities that would create a healthier as well as a safer workplace. A survey was conducted to study student and staff smoking behaviours and attitudes to a smoke free campus which resulted in the ECU council in march 2010 supporting the by-law change to make the campuses smoke free. BACKGROUND Edith Cowan University is located in PerthRead MoreUnited States Should Adapt Tobacco Free Policies On Their University School Grounds Essay2507 Words   |  11 PagesDid you know, smoking causes more than† 440,000 deaths† per year? (â€Å"Effects of Tobacco† 1). That is an overwhelming number of deaths that could be prevented if only the individuals did not use tobacco. 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Failon Ngayon- Panglao Beaches( Reaction Paper) Free Essays

Panglao Island Bohol Beaches It’s an unavoidable fact that somewhere among the Philippines’ 7,107 islands you will find the most beautiful beaches in the world. With a coastline twice the length of that of the United States, the Philippines can claim to be Asia’s Beach Capital. Enjoy the warm crystal blue waters of both the China Sea and the Pacific Ocean. We will write a custom essay sample on Failon Ngayon- Panglao Beaches( Reaction Paper) or any similar topic only for you Order Now Mention the Philippines and images of long, white sand beaches and bodies of water blessed with a variety of marine life come to mind. Panglao is a perfect for a great dive and beach holiday. It is a small island on the Philippines southwest of the bigger island, Bohol. On the southern beach of Panglao there are several resorts that line up on the beach. But Tourism, however, also brings destruction. We’ve seen many beaches get abused and exploited by both residents and tourists themselves. Executive Director Bebot Pinat (Padayon, Bohol Marine Triangle) quote that â€Å"Ang dagat ay isang malaking dumpsite. † She said that she smells the unwelcome odor of the sea where they throw their waste. Panglao Island houses many resorts but if we will examine, where they throw their liquid waste they don’t even have waste water treatment. According to Dr. Abercio Rotor, an Environmental Scientist/ Biologist, all of these wastes will go to the sea. The water is very fertile that it can have algal bloom that which can lead in having a fish kills. The other man said that there are trucks collecting the wastes of the resorts. But he doesn’t know where they drop the wastes but he affirms that throwing of wastes in the island is prohibited. There was also riprap that is so close in the water and reportedly to extensive that it almost consumes the whole sea side, it’s sizable and it’s even expose. Mr. Arthur Arboladura (President, Alona Beach Community Association said that it protects the tourists as well as the area of Alona. Dr. Rotor states that if someone will put up a resort, it will destroy the natural riprap and the refined composition of the soil so that there will be erosion on top. It will destroy the water environment too. Sec. Ramon Jimenez was so shocked seeing the video clip of Failon Ngayon. He affirms that it is so much near the water and it will cause scouring. He also assures that DENR will take immediate action in this issue. Dauis, Panglao Island Bohol has many first class resorts and they all comply in all the policies. Even Mayor Jaime Jimenez said that they all have ECC’s. But Failon Ngayon was informed that Panglao Island Nature Resort and Spa give much damage in the residents nearby. The Panglao Island Nature Resort and Spa has a 531 sq. m. man made island. According to Executive Dir. Bebot Pinat there is a violation and there must no establishment near the shore. Foreshore lease is prohibited in our oceans, the Mayor said. But why all these establishments exist until now? It’s because they are difficult to demolish, according to him. On July 06 2006, EMB issued an order suspending the â€Å"resort† ECC and directing the cessation on any undertaking or project expansion within the area not covered by any tenurial instrument (foreshore lease/ PRA permit) The PINR send a message to Failon Ngayon that although it’s existing, ECC had been suspended temporarily by then, DENR Secretary Angelo Reyes, Management has been issued a temporary restraining order to prevent the DENR from pursuing their order. The Management has defended its positioning the lower court and appellate court. However, the DENR has raised it to the Supreme Court for its ultimate decision. And because the case is currently on trial they refuse to talk about it as well as the officials of EMB Region 7. They don’t want to forewarn the court in giving their sides. Secretary Jimenez quote† Kaninong kasalanan? Kasalanan nating lahat. Hindi posible na magkaroon ng turismo na hindi mamuhunan ng lupa ng mga bahagi ng ganyang kalikasan. Ang importante dyan ay kung sustainable ba? Maitutuloy mo ba? Ubos na ba ang problema? Ay hindi po marami pa tayong aayusin. † Beaches are some of the most unique and enjoyable natural resources on our planet. The beauty and calm are two of the main reasons why the coast continues to be a prime place for fun, and for setting up housing and other developments. But why this is happening? As I watch this episode of Failon Ngayon there is one question in my mind, bugging me. Why there are people who don’t care for the environment even, this â€Å"environment† keeps their life comfort? They don’t put in their mind that if they destroy the environment their children and the future generation will suffer to it. Many of us are greedy in money, power and fame that sometimes we have no morality in our actions at all. We know what is right and wrong. And it is wrong to harm the environment as well as the people that might be affected. The fishermen and their families who have been left behind by the development and the poor folks who have not benefited from the present tourism boom do not have a voice on what they think about the issue. It is wrong to sacrifice the environment for the growth of tourism. We must keep in mind that too much tourists bring harm to the environment. We need to find a balance between satisfying the needs of tourists and reducing to a minimum the pollution it will cause. How to cite Failon Ngayon- Panglao Beaches( Reaction Paper), Papers

Competitive Strategies of General Electric-Myassignmenthelp.com

Question: Discuss about the Strategies that General Electric should Apply to Gain the Competitive advantages over their rival Business Organizations. Answer: Introduction The following paper is about defining and applying strategies that an organization should adapt to in trying to gain the competitive advantage over their rival business organizations. The organization that has been chosen to show the impact of the proper strategies and the motivation given by the leaders through their leadership style is the General Electric (GE). This company was established to merge up the two famous companies, namely Electric Light Company of Thomas Alva Edison and Thomas Houston Company of Charles Coffin. GE was established in the year 1892. This company became a business model by its brave leadership and management style in the beginning of the 20th Century. The later attributes of this company came through the hands of Ralph Cordiner and Peter Drucker (Ge.com, 2017). The purpose of this duo was to turn GE into a complete management system that was capable of innovative corporate management. The strategic planning was of utmost importance in this context because it had to be linked with the financial systems under Reg Jones in the 1970s. After these proceedings, the organization was under the leadership of Jack Welch for almost two decades (Ge.com, 2017). In his hands, the entire working system of the company went through a huge change and its strategy and organizational management gained improvement. In this paper, the purpose of discussion is to explain the core competencies that are needed for an organization to expand it in the international level. The leadership style of Jack Welch and Jeffrey R. Immelt has to be compared as well in order to understand the impact of perfect leadership style on an organization. Leadership style of Jack Welch Jack Welch had been an influential and revolutionary leader in the history of GE. He had made huge changes the entire system by his extraordinary leadership skills and approach. He had a tremendous farsightedness with which he executed his ideas and turned the management system to make innovative changes (Vaccaro et al. 2012). GE had flourished so much under his leadership and it enjoyed the best years in the corporate performance in the industry. GE under Jeffrey R. Immelt Jeffrey Immelt had taken over from Jack Welch as he had taken over from the leadership helm of GE in the year 2001. Just he had taken over the responsibilities; the despicable terrorist attacks on World Trade Centre on 9/11 took place (Keniston and Quinn 2013). After that incident the Enron crash had taken place that questioned the factors of good governance, business ethics and financial management in the corporate sector (Higgins 2012). Core competencies Core competencies are one of the most important elements in the business industry and it is considered as an intrinsic approach (Espinoza and Ukleja 2016). On the contrary, the business operations tool named the Porters five forces is considered as extrinsic approach. Organizational competitiveness is a critical thing to stay alive in the modern challenging business environment. Every organization has to develop and improve its core competencies so that they can stay strong and hold their positions in the business market (Espinoza and Ukleja 2016). Some of the important core competencies include risk taking abilities and providing guidance and directions to teams across countries and cultures. The important factors that have worked behind the success of GE in this century are their continuous efforts to improve the business environment and providing better options to provide the customers with better materials. One of the most important core competencies for GE has been customer focu s (Wilson et al. 2012). In trying to enrich the customer focus and improve the customer satisfaction process by implementing the six stigma process in the 1980s under the leadership of Jack Welch (Pyzdek and Keller 2014). The company workers had to be more effective in providing the consumers with much efficiency and they have to be more productive. The shift of focus came over as Jeff Immelt took over from Jack Welch. The main target of Immelt was the customer orientation in GE. This, he thought, would help to gain the confidence pf the customers at their disposal more and more (Korschun, Bhattacharya and Swain 2014). He used some tricks to implement that. He advised his workers to spend more time with their customers so that a bond of trust and faith could rise. He also said them to work on their various problems with seriousness and thus resulting in the value creation for them. GEs marketing function had to be evolved properly so that more increased investments were made in this scenario. The target gro ups of GE had to be provided with more integrated solutions and services from their parts (Hakanen and Jaakkola 2012). They also offered customer support, customer oriented business solutions by making a strong co-ordination between across its business functions. They introduced a new style of business functioning i.e. to create opportunities for cross-business marketing campaigns so all of their business options could see these options. The leadership style of Jeffrey Immelt S Jeff Immelt was strongly aware of the fact that he would be taking over the responsibilities from the maestro himself, the living legend and the best manager of the 20th century, he was very much cautious about his duties and leading GE to a beautiful future moving from its golden past. He could motivate his employees quite positively as he himself was filled with great energy (Lazaroiu 2015). He was a very friendly and a regular guy as he always encouraged his staff rather than putting heaves of pressure on them. On bases of principles, he is considered as a democratic person and he always encouraged the fact of innovation process (Palacios-Marqus, Merig and Soto-Acosta 2015). One of his best characteristics as the organizational leader was he always craved to keep good and open relations with all the investors and the stakeholders. The idea he promoted to innovate new things was dreaming with customers and to have some imagination breakthroughs was something he thought be essenti al to be a growth leader (Chesbrough 2012). The leadership style Immelt followed gave birth to the new leadership idea of imagination at work. This leadership style proved to be an iconic one on the long run. This was thoroughly an unconventional model of theory but this could easily fit into the transformational leader model if it has to be categorized indeed. Some of the important things that this transformational leader model had a deep impact on are the human capital, global presence of GE, the entire organizational structure and the most important thing was the technology and innovation (Narula 2014). These points have to be discussed in order to look at the entire idea from a better viewpoint. Human Capital The human capital of GE was developed and empowered to a great extent by the leadership style of Jeffery Immelt (Campbell, Coff and Kryscynski 2012). The early culture of the organization helped it to grow a human capital development. It was well-structured as well. Immelt went forward to enhance this and inculcated some aptitudes and skills in the managers so that they can become growth managers. He developed the five growth traits for the development of the organization. This also became an exclusive part of the HR review, the performance management system and subsequent plans for the managers that would lead to development (Buckingham and Goodall 2015). Growth became his personal mission of its human capital. He empowered it through structure, training and direction. Organizational Structure Immelt made many changes within the organization to run it smoothly. Some of these were visible and some were not. The most visible change could be considered in the change of the organizational structure of GE (Guadalupe, Li and Wulf 2013). The purpose of Jeffrey Immelt was to create a more responsive organization. This led him to change some of the structural set-ups made by the Jack Welch in his reign. He gave encouragement for building cross business integration within GE. In order to so, he focused on bundling of services and products so he that he could facilitate his vision to create the growth platforms (Christensen and Raynor 2013). The divisions that GE had were reduced to smaller sectors. The different sectors had to report to Immelt. The number of these business sectors was twelve in 2002. It was reduced to seven in the year 2010. Technology and Innovation The time was turbulent when Immelt had taken over from Welch. He had to face many difficulties as many unwanted series of events were taking place. This was aggravated by the terror attacks on 9/11 (Keniston and Quinn 2013). The entire business industry was shaken by the fall of World Trade Center. The main challenge of Immelt at this point was to secure the profitability within the organization. The innovation in the organization had led to its growth. The innovation projects that were taken were long, time-taking, risky and definitely in need of cooperation among the various business divisions. These innovation processes needed investment and attention of the target audiences. In order to achieve that, Jeffery Immelt had taken up the imagination breakthrough initiative (De Jong et al. 2013). These things would surely lead them to a grand success. Jeffrey Immelt himself used to approve all the imagination breakthrough projects and improvised all the budget related things. The normal budget pressures could not have any severe impact on these projects. Immelt had a firm belief that technology could drive the future growth of GE. The first and one of the most important changes that were made was to revise the RD budgets (Lin et al. 2012). The RD centers were upgraded and product quality was enhanced for customer satisfaction. Some programs that were launched by GE were the ecomagination, product and business development program and others. These programs helped to develop more co friendly products and better business solutions. Global presence The global market was as always competitive and the target for all the organizations was to capture the emerging markets. Immelt took GE to a certain level that they were at the position to compete with the fast emerging global markets. The great market success came for GE in the Beijing 2008 Olympic Games from a coordinated approach across many business sectors (Bodet and Lacassagne 2012). GE had developed a marketing strategy named company to country that helped in the penetration of the local markets by the financial joint ventures that could work with the governments to meet the local markets needs for improvement in the infrastructure. An example can be given about the Abu Dhabi Mubadala partnership and Nigerian investments (Cugurullo 2013). The internationalization strategy was designed to develop the products and services that could help the local market needs. These features were considered to be the simpler, less expensive and de-featured versions of the emerging internation al markets. The demographics that GE had targeted were the aged people and supplied them the products of health care. They also began to address at the global and natural challenges like the global warming and scarcity of water (Dai 2013). These problems were to be solved by the use of technology and innovation. The strategy proposition of the GE can be evaluated by explaining the micro analysis of the business environment through the SWOT analysis (Grant 2016). Strengths GE is a global brand that has a wide recognition all over. It is a valuable brand to many of its customers (Grant 2016). They provide and supply quality products to their products. They have developed ecomagination program that is very effective in strategic innovation process. They provide opportunities for training that leads to the development of its workers. The leadership pipeline of GE is very strong and the role of the growth managers is handled very sincerely (Grant 2016). They are a trusted brand and always given advantage in the competitiveness. They take the contracts from the government that adds to their reputation. Weaknesses GE is too much diversified in the same sectors. Their revenue growths are very low. The working culture they follow is the working in silos. They have very little scope of working in the cross-functional working environment (Turkulainen and Ketokivi 2012). The role of the head office of GE works more as an overseer and interrogator for their works rather than a partner and coordinator. They have an internal competition between their different business units. They have many divisions which compete between themselves. Most of the managers are experts within their own sphere of knowledge only. They have very little knowledge of the entire working space. Opportunities They have a huge opportunity to globalize in their domain. The fact of internationalization can really expand their business market. Some factors that can really improve their business dealings are the mergers, joint ventures and the acquisitions. They can produce environmental friendly products and services. They are keen on technical innovation that could lead to their success. Their company to country program will be able to enhance the coordination between employees and customers (Strohmeier 2013). Their cross functional marketing and product selling can increase their market value multiple times. Threats The size of the company is very huge so that it is difficult to maintain it. The adversities to their expansion program are rapid expansion and the bubble burst syndrome (Prakash 2016). They have a lack of agility that can affect its business reputation. USA and international regulations of business can have a negative effect on GE capital. They face a lot of difficulties when they try to implement the simplicity across its functions. Business Environment of GE (2001-12) Jack Welch had presented GE with a remarkable growth of profits and stock market valuation in the last century. This success was against a backdrop of an economy that was gushed by optimism, confidence and growth. Immelt succeeded to the thrown of Welch and discovered that there was a huge gap in the economic balance in the organization resulting from the downturn of the 1990s and the exuberance of the same time. The results of this extraordinary downfall of the business were the business industries had entirely collapsed, the poor business models were roughly exposed to the world and large companies were almost bankrupt and the corporate credibility was no more beyond question. After taking over, Immelt had initially thought that the diversified portfolio would be able to provide GE stability in the economic part. It was thought that during the financial crisis, the contagion had become the main norm of the business perspectives. The problem is that if any business is affected by the economic factors, other businesses will be affected as well. Whenever, Immelt had always tried to tell them and put emphasis on the fact that his job was not to control the stock market price. Instead, as the CEO of General Electric, he was supposed to manage the company from all the aspects. He had believed that the only way GE can be run in a proper way is to increase its performance and the stock would be driven permanently. Immelt had identified all the potential challenges in the business environment and he had thought that he had to identify the potential resources that could profit GE in a large way. Some strategies that Immelt had taken were he created value cost reduction, eliminated all the underperforming assets and exploited all the opportunities offered for the financial services. The GE equation of 2012 shows the things that GE wanted to do. They believed in the equation that:- They look at what the world needs {A belief in a better way+ A relentless drive to invent and build things that matter} = A world that works matter. There are some factors that are responsible for the probable growth of GE. These factors can be listed as below:- They should invest in software and analytics. The future of the business is doing through the internet and the efficiencies have to be increased. The cost margins of business should be increased (Highsmith 2013). GE should capitalize on bettering infrastructure markets in countries like Africa, Latin America and the Middle East. GE should invest in and grow energy management (Pipattanasomporn, Kuzlu and Rahman 2012). The size of the GE capital should be increased. They should look to invest in their infrastructure more. The resources from financial services should be reallocated. It is, therefore, very essential to develop the infrastructure of the company and the factor of increased financial performance and return on investment (ROI) factors have to be illustrated properly. Increased Financial Performance, ROI to Investors and Shareholders GE should grow dividends and allocate capital on thinking many times (Ingram 2016). The Share Buyback program should be re-introduced in order to buy the shares in critical times. They should maximize their capitals on oil, gas and aviation sectors. They should focus on being the leading lender to middle market clients. The strategies have to be put into action for better results. The academic model named Balanced Scorecard invented by Kaplan has to be used in this regard for implementing the strategies (Kaplan 2012). According to this balanced scorecard, the scorecard is perfectly balanced when there is right measure between the short and long term goals, tangible and intangible metrics being balanced as well. A modern age company like GE must focus on different aspects like customer focus, suppliers, processes, technology and innovation and their target audience. The vertical scorecard has the people, financial aspects, learning metrics and internal processes. There should be a balance between strategic and diagnostic measures and the interests of the stakeholders (Ehrenfreund, Race and Labdon 2013). The other metric is the horizontal scorecard where the elements are the suppliers, leaders, investors, customers and employees. They are the key elements which have to be put into proper action throug h the key performance indicators (KPI). These indicators must have lagging measures (current performance) and the lead measures (long term value). All the things in the balanced scorecard include financial metrics, process improvement, total quality management and other things (Conti 2012). The aspects of service delivery, customer retention, customer satisfaction and strategic innovation must all be linked with the financial metrics and all of these strategic innovations, GE will definitely survive in the competitive structure and claim success in implementation and evaluation. Difference between leadership styles of Jack Welch and Jeffrey Immelt Jack Welch Jack Welch was more of an autocratic and task oriented leader (Rast, Hogg and Giessner 2013). His orientation was on efficiency and he was an iconic leader. He used to work within certain parameters. He focused on productivity and internal communication. He was a great manager and business driver. Jeffrey Immelt Immelt was much more people oriented and a democratic leader (Bhatti et al. 2012). He focused on innovation more. He focused on RD technology. He used to build good communicative relationships with the employees (Bhatti et al. 2012). He was a change manager. He was transformational and focused on marketing. He was a risk taking leader and a regular guy as well. Conclusion This paper can be concluded by saying that GE has been one of the pioneer organization in driving strategies for innovation in the modern competitive industry. The aspect of VUCA business environment that says that businesses in modern days are volatile, uncertain, complex and ambiguous are an indicator of effectiveness of taking risks in the business proceedings. The leaders have to be exceptionally dedicated and be able to take risks in the competitive market. This is why Jeff Immelt had to bring down the silos structure that helped to sustain development. He changed the business relationship between the GE headquarters and the business partners. Thus it can be said that the leadership style of Jeff Immelt is best suited in this modern business environment. His RD innovation strategy, integrated business solutions and other things have helped GE to move forward in order to achieve organizational sustainability. 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Christensen, C. and Raynor, M., 2013.The innovator's solution: Creating and sustaining successful growth. Harvard Business Review Press. Conti, T., 2012.Building total quality: a guide for management. Springer Science Business Media. Dai, A., 2013. Increasing drought under global warming in observations and models.Nature Climate Change,3(1), pp.52-58. De Jong, M., Marston, N., Roth, E. and Van Biljon, P., 2013. The eight essentials of innovation performance.McKinsey Strategy. Ehrenfreund, P., Race, M. and Labdon, D., 2013. Responsible space exploration and use: Balancing stakeholder interests.New Space,1(2), pp.60-72. Espinoza, C. and Ukleja, M., 2016.Managing the Millennials: Discover the core competencies for managing today's workforce. John Wiley Sons. Ge.com. (2017). GE | The Digital Industrial Company | Imagination at Work. [online] Available at: https://www.ge.com/ [Accessed 25 Jul. 2017]. Grant, R.M., 2016.Contemporary strategy analysis: Text and cases edition. John Wiley Sons. Guadalupe, M., Li, H. and Wulf, J., 2013. Who lives in the C-suite? Organizational structure and the division of labor in top management.Management Science,60(4), pp.824-844. Hakanen, T. and Jaakkola, E., 2012. Co-creating customer-focused solutions within business networks: a service perspective.Journal of Service Management,23(4), pp.593-611. Higgins, R.C., 2012.Analysis for financial management. McGraw-Hill/Irwin. Highsmith, J., 2013.Adaptive software development: a collaborative approach to managing complex systems. Addison-Wesley. Ingram, R., Return on Investment.The Dyslexia Handbook 2013, p.103. Kaplan, R.S., 2012. The balanced scorecard: comments on balanced scorecard commentaries.Journal of Accounting Organizational Change,8(4), pp.539-545. Keniston, A. and Quinn, J.F. eds., 2013.Literature After 9/11(Vol. 1). Routledge. Korschun, D., Bhattacharya, C.B. and Swain, S.D., 2014. Corporate social responsibility, customer orientation, and the job performance of frontline employees.Journal of Marketing,78(3), pp.20-37. Lazaroiu, G., 2015. Employee Motivation and Job Performance.Linguistic and Philosophical Investigations,14, p.97. Lin, C., Wu, Y.J., Chang, C., Wang, W. and Lee, C.Y., 2012. The alliance innovation performance of RD alliancesthe absorptive capacity perspective.Technovation,32(5), pp.282-292. Narula, R., 2014.Globalization and technology: Interdependence, innovation systems and industrial policy. John Wiley Sons. Palacios-Marqus, D., Merig, J.M. and Soto-Acosta, P., 2015. Online social networks as an enabler of innovation in organizations.Management Decision,53(9), pp.1906-1920. Pipattanasomporn, M., Kuzlu, M. and Rahman, S., 2012. An algorithm for intelligent home energy management and demand response analysis.IEEE Transactions on Smart Grid,3(4), pp.2166-2173. Prakash, S., 2016. Filter Bubble: How to burst your filter bubble.International Journal Of Engineering And Computer Science,5(10), pp.18321-18325. Pyzdek, T. and Keller, P.A., 2014.The six sigma handbook(p. 25). New York: McGraw-Hill Education. Rast III, D.E., Hogg, M.A. and Giessner, S.R., 2013. Self-uncertainty and support for autocratic leadership.Self and Identity,12(6), pp.635-649. Strohmeier, S., 2013. Employee relationship managementRealizing competitive advantage through information technology?.Human Resource Management Review,23(1), pp.93-104. Turkulainen, V. and Ketokivi, M., 2012. Cross-functional integration and performance: what are the real benefits?.International Journal of Operations Production Management,32(4), pp.447-467. Vaccaro, I.G., Jansen, J.J., Van Den Bosch, F.A. and Volberda, H.W., 2012. Management innovation and leadership: The moderating role of organizational size.Journal of Management Studies,49(1), pp.28-51. 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Capital Budgeting Techniques

Introduction about the topic Capital budgeting is the process by which companies appraise investment decisions, in particular, by which capital resources are allocated to specific projects. It requires firms to give account for the time value of money and project risk using a variety of more or less formal techniques. The decision to invest in fixed assets is one of the major decisions made by managers.Advertising We will write a custom research paper sample on Capital Budgeting Techniques specifically for you for only $16.05 $11/page Learn More Investments in fixed assets impact a firm’s operations for a very long time because they involve large capital outlays. As a result, a variety of quantitative and analytical techniques are applied by managers in the selection of projects to enable them to make good decisions in the area1. Capital budgeting comprises of a number of techniques based on various concepts emanating from projects and investments such as the concept of incremental cash flows. Accounting rules play a very important role in the basis of some particular techniques. The management control process requires the services of budgetary planning and control to provide necessary accounting information. Most of the important information is normally provided through variance reports availed by the accountants in charge. Capital budgeting decisions are influenced by certain factors dealing with economic, social, political, as well as cultural diversity2. There has been tremendous increase in the level of foreign direct investment (FDI) in the last two decades. This has been brought about by the spread of business investment activities across countries of the world. Multinational organisations have faced various challenges due to lack of reliable and accurate methods which could be used in making appropriate decisions within the market place. The paper comprises of various parts the first presenting both theoretical as we ll as practical overview of the given organisation. The second part of the reports gives the methodology, including data collection techniques as well as design of questionnaire. Then there are the findings from the research and finally conclusions and recommendations. However, capital budgeting techniques provide measures through which capital budgeting requests are analysed. Net Present Value utilizes the aspect of time value of money concepts, Payback period has been discovered to be deficient of time value techniques3. Introduction about the company Capital budgeting is applied in the company’s planning process to determine the status of the firm in line with long term investments4. The chamber is one of Saudi Arabia’s oldest and well-established organisations. The promotion of the private sector contribution to the economy is the cause The Chamber is most devoted to.Advertising Looking for research paper on business economics? Let's see if we can help you! G et your first paper with 15% OFF Learn More To that end, it has formulated a lot of services that have significantly helped in development and, especially, promotion with the attempt of giving all the possible support to the beginners of the private sector in such spheres of economy as industry, trade craft and services. The main aim of the company is to have an active and successful development of Eastern Province private sector activities and to be only one service provider and assistant for the business development in the Eastern Province. The main aim is to provide separate and qualitative services that meet all the requirements the expectation of the private sector, and successful association in the social and economic spheres of life. The Chamber aims to provide unique and high-quality services that meet the aspirations of the private sector, thus ensuring continuous development through the optimal investment in available resources, renewable technologies and effectiv e participation in the economic and social development of the region; thus realising the wishes of our members in light of the values and principles of our society. The advancement of the economic growth by means of the full mobilisation of the resources of the private sector to assist the economic development is its final goal. It aims at promoting the private sector’s origin by means of different steps that include detecting all existing possibilities for the business production, searching for all the possible solutions to different problems that may crop up in the process according to the rules of the system and government programs and working out the plan of the international trade in the attempts of getting the main goals. The branch expansion has also served as a tool of promoting membership. The Chamber’s products and services centres around provision of distinct products and services of added value to members, provision of unique preparation and training progra ms, excellence in the segments of research, studies and information for the purposes of supporting business sector within Eastern Province. Also, they indulge in supporting small and medium enterprises and encouraging innovation and creativity and the culture of self-employment.Advertising We will write a custom research paper sample on Capital Budgeting Techniques specifically for you for only $16.05 $11/page Learn More Within the last fifty years, the Chamber has been devoted to the private sector in such areas as contact between the business association and the government, promotional agency and of fellowship amongst businesspeople. Provision of a medium for the private sector, allowing them to perform social obligations as well as provision of information on investment opportunities and changes in economic and commercial policies. Purpose of Research The study seeks to examine the various capital budgeting techniques used in Saudi Arabia’s ch amber and the various factors influencing financial investment practices within the country. The focus is to find out how capital budgeting is used by Saudi Arabia’s chamber. Various techniques used in optimising the financial cash flows and at the same time, computation of effective financial rates are covered within the study. There is also the determination on the manner in which capital budgeting should be applied by the use of Net Present Value (NPV), Internal Rate of Return (IRR), and Profitability Index (PI). Research questions and methodology of collected data The use of an appropriate type of research design ensured appropriate resolution of the research problem and at the same time help in improving effective level of marketing research. The designs applicable in financial researches always focus on three types of research design which include exploratory research, descriptive research and casual research5. Exploratory research is applicable where general nature of the problem needs to be established. The alternative decisions need to be verified in consideration of relevant variables. The research methods are characterised by high flexibility and unstructured means granting application of clues concerning the problem situation. Descriptive research involves the use of speculative hypothesis making the relationships not to appear casual and then finally casual research, which seeks to reveal the relationship existing between variables used within the study6. The study involved the use of both descriptive and explanatory, whereby descriptive helped in identifying the value of capital budgeting within Saudi Arabia chamber. And on the other hand, an explanatory approach used to explain the contributions of capital budgeting towards development of corporations within the country.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The research problem can be solved using various methods such as induction and deduction. Inductive approach focuses on obtaining general conclusions from the observations obtained from empirical investigation. The deductive method, on the other hand, utilised the use of hypothesis and theories subject to testing within the empirical world. However, the more preferable way through this research was the use of abduction method. This method incorporates both empirical and theoretical measures. The study discussed much on theories and frameworks based on capital budgeting framework used in the analysis of the various corporations within the chamber. The study also required to establish and identify capital budgeting intangibles which need the application of observations from empirical studies for the purposes of deducing some assumptions. Hence most of the study focused on abduction method7. The following procedures were incorporated in the solution of the research problems involved. S econdary literature was obtained from books, journals, internet as well as electronic databases. This provided the required literature used in establishing a theoretical framework necessary for the study. The empirical study involved the use of mail survey, where the survey was conducted amongst various corporations within the private and public sector through the use of detailed questionnaire. This was done in order to establish the various methods of restructuring and work design the chamber uses for international markets 8. It is widely accepted that the best way to evaluate capital budgeting proposals are the discounted cash flow methods. More recent studies suggest that firms are increasingly adopting discounted cash flow analysis, although this was not always the case in the past. Much of the empirical research on capital budgeting practices adopted by corporate managers are always drawn from US data research based on different countries is also done by other authors. An appra isal in the application of the capital budgeting in the retail sector was undertaken in the Kingdom of Saudi Arabia as a basis for strategic capital budgeting for the purposes of developing this study. The focus of the study was to address the extent of use of capital budgeting in retail sector in the kingdom of Saudi Arabia in terms of using financial and accounting tools, sales forecast, external factors, benchmarking and feedback mechanism. It also sought to establish the extent to which capital budgeting is applied in retail sector in the Kingdom of Saudi Arabia. This further established employee empowerment, negative effect of branch sales, comparison and application of standard budget for new companies within the SA chamber. Sample Random sampling was used to obtain data, where both private and public companies within Saudi Arabia were chosen at random for the mail survey. Then the statistical analysis was used to analyse and interpret data from questionnaires. Empirical resul ts Capital budgeting of SA chamber presents one of the most important means of making decisions. Capital budgeting is necessary for the purposes of maximising shareholder wealth. The empirical results are presented, and the analysis is given based on the data obtained. The study provided participants from the chamber with relevant techniques allowing them to tick various importances of capital budgeting techniques from the questionnaire given. The companies from both private and public sector that were sampled added up to 124; however, responses were received from only 60 representing 48% response rate. Good percentage of the questionnaires was answered by intended respondents from the chamber. Table1: showing the response rate Number % Undeliverable surveys 10 8 Mail survey responses 54 44 Responses used 60 48 124 100 Respondents were found to be learned since they had considerable academic qualifications. This indicated that they had valuable information concerning the area of study. The size of the capital budget was also identified from each respondent and tabulated as below. The companies within private and public sector differ in terms of size hence vary in annual capital budget. Size of Capital budget Number Percentage R50 million 10 18% Between R50 – R100 23 38 Between R100-R 500 million 10 16% Between R500-R1 billion 14 23% Greater than R1 billion 3 5% 60 100% There were also responses on the frequency of the use of the various budgeting methods. These include; net present value (NPV), profitability index (PI), Internal rate of return (IRR), modified internal rate of return (MIRR) as well as payback. The results were as follows9. Table: Capital Budgeting Techniques Capital budgeting technique % Usage NPV 94% IRR 90% Payback 65% MIRR 50% PI 35% Other techniques 13% The results indicate that the techniques mostly used in evaluation of projects within Saudi Arabia Chamber are net present value and internal rate of return. This is clearly shown by 94% preferring the use of NPV, 90% of the companies use IRR in most occasions while 70% of the participants use payback period method. This reveals that NPV, payback period, IRR are the most preferred techniques with NPV and IRR forming the most popular methods. Table showing number of techniques used by companies within chamber Number of techniques applied for evaluating projects Number of companies using the technique % 1 14 22 2 11 20 3 15 25 4 18 28 5 2 5 60 100% The findings from the table revealed that most companies use multiple budgeting techniques in the process of evaluating their projects. The survey revealed that around 46% of the participants use less than three techniques while the rest utilize more than three techniques. Table showing significance differences of importance between Capital Budgeting Techniques Techniques Not applicable Less important Moderately important important Very importan t Number of participants NPV 3 2 8 30 57 60 IRR 20 1 15 35 29 57 MIRR 47 15 15 17 7 58 PI 43 18 17 16 8 55 Payback 20 15 26 22 17 53 Other 65 0 0 20 15 52 The table above represents ranking of techniques based on their importance value attached by the companies. The ranking places NPV, IRR and Payback at the top of the table showing their level of importance. The results reveal some significant differences between participants based on the importance of the capital budget techniques. Most of the companies rank NPV as the most important technique used in evaluating projects. Conclusion The objectives of the study were eventually met despite the shortcomings encountered. The results revealed the various capital budgeting techniques and how they are utilized by various companies. This gives vital information to companies concerning the best financial strategies applicable within the current market environment. Limitations and recommendations There were various limitation s to this study which included the sample group used in the survey which was only 60 companies within the Saudi Arabia Chamber. This means that more data is required so as to establish the exact trend from both lowly ranked and highly ranked companies in private and public sectors. This would enable adequate understanding on the nature of capital budgeting technique used and the associated impacts on Saudi Arabia chamber. There was high possibility that local meanings of the techniques were lost during the translation process. There were instances where some companies could not allow their capital budgeting practice to be published for the fear of being miss-interpreted. Based on the study’s findings, the following recommendations are proposed: the owners and management of retail family establishments should use these three elements in the preparation of capital budget; Financial statement or profit and loss statement, Cash flow and Balance sheet. They should also empower emp loyees to help them prepare estimates of their cash flow in terms of sales forecast using data gathered from other reliable sources. They should employ management tools such as the break-even analysis, payback analysis, net present value and internal rate of return. The organisation at the same time should consider external factors such as government regulations, price increases, stiff competition and customer’s needs. Multiple sales assumptions should be used along with a standard budget. Comparison of different projects within the organisation should also be done. References Adrian B, International Capital Budgeting, 3th edition, Simon, NY, 1996 Dayananda D, R Irons, J Herbohn P Rowland, Financial appraisal of investment projects. Capital Budgeting. Pitt, New York, 2002 Gray SJ, SB Salter LH Radebaugh, Global Accounting and Control: A Managerial Emphasis, John Wiley and Sons, London, 2001 Leedy, PD JE Ormrod, Practical Research Planning and Design. 8th ed. Pearson Prenti ce-Hall, New Jersey, 2005 Modigliani, F M Miller, â€Å"The Cost of Capital, Corporation Finance and the Theory of Investment†. American Economic American Economic Review, Vol 48 no3, 2003, pp 261–297 Footnotes 1 B Adrian, International Capital Budgeting, 3th edition, Simon, NY, 1996 2 SJ Gray et al, Global Accounting and Control: A Managerial Emphasis, John Wiley and Sons, London, 2001 3 D Dayananda et al, Financial appraisal of investment projects. Capital Budgeting. Pitt, New York, 2002 4 Ibid 5 PD Leedy JE Ormrod, Practical Research Planning and Design. 8th ed. Pearson Prentice-Hall, New Jersey, 2005 6 Ibid 7 Ibid 8 PD Leedy JE Ormrod, Practical Research Planning and Design 9 F Modigliani, M Miller, â€Å"The Cost of Capital, Corporation Finance and the Theory of Investment†, American Economic American Economic Review, Vol 48 no.3, 2003, pp 261–297 This research paper on Capital Budgeting Techniques was written and submitted by user Abbey Ramsey 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.

Free Essays on Violence In My Life

Violence In My Life The truth of the matter is that there hasn’t really been all that much violence in my life so far. I mean where I grew up, and in my community there was virtually no harsh domestic violence. Of course growing up I have seen all different sorts of violence. However these acts of violence were not that serious. I have been involved in a couple of cases of school violence myself. In highschool I was involved in a verbal argument with another kid, in the middle of the hallway. However this act of verbal violence ended up with a consequence. I had to serve a Saturday detention from eight to twelve in the morning. Another case in which I was involved in an act of violence was a fight at school. I got into a little fight with another kid in my highschool over some girl. Now I look back at the situation and realize how stupid and ignorant the whole ordeal was. However at the time I thought that it was the only thing, and the right thing to do. This act of violence ended up in another consequence, imagine that. For fighting at school I had to go through with a three day suspension. I regret ever fighting in school, for the simple fact of the suspension that I was given. Through this experience I have learned not to fight in school, and that fighting anybody is a stupid decision.! I have learned for the most part, to be passive in the acts of a fight. Another example in which I was apart of some kind of violence, happened a couple of years ago. Up till now I have played soccer and baseball my whole life. This incident happened while I was playing soccer. It was winter and we were indoors. The game was knotted up with a score of four to four. I must admit that when I am involved in a very competitive situation I can get violent. Anyways the game was tied and the other team had the ball. This game was a very important game in a national tournament and determined who would go on to the next roun... Free Essays on Violence In My Life Free Essays on Violence In My Life Violence In My Life The truth of the matter is that there hasn’t really been all that much violence in my life so far. I mean where I grew up, and in my community there was virtually no harsh domestic violence. Of course growing up I have seen all different sorts of violence. However these acts of violence were not that serious. I have been involved in a couple of cases of school violence myself. In highschool I was involved in a verbal argument with another kid, in the middle of the hallway. However this act of verbal violence ended up with a consequence. I had to serve a Saturday detention from eight to twelve in the morning. Another case in which I was involved in an act of violence was a fight at school. I got into a little fight with another kid in my highschool over some girl. Now I look back at the situation and realize how stupid and ignorant the whole ordeal was. However at the time I thought that it was the only thing, and the right thing to do. This act of violence ended up in another consequence, imagine that. For fighting at school I had to go through with a three day suspension. I regret ever fighting in school, for the simple fact of the suspension that I was given. Through this experience I have learned not to fight in school, and that fighting anybody is a stupid decision.! I have learned for the most part, to be passive in the acts of a fight. Another example in which I was apart of some kind of violence, happened a couple of years ago. Up till now I have played soccer and baseball my whole life. This incident happened while I was playing soccer. It was winter and we were indoors. The game was knotted up with a score of four to four. I must admit that when I am involved in a very competitive situation I can get violent. Anyways the game was tied and the other team had the ball. This game was a very important game in a national tournament and determined who would go on to the next roun...

Climate effects from historical volcanic eruptions Research Paper

Climate effects from historical volcanic eruptions - Research Paper Example The change in climatic conditions as observed by the scientist was as a result of volcanic activity. The paper will explain the various climatic effects that resulted from volcanic eruption in the past1. The change was linked to the eruption of the Laki fissure system. Laki fissure system was a chain of volcanic activities that results to the movement of lava through several cracks in the ground rather than from a single point. The eruption happened in Iceland. The Laki eruptions took place in more than 8 months and produced about 14 km3 of basalt that was made up thin, black and fluid lava. The eruption also resulted to production of ash clouds that made their way into the stratosphere. The ash clouds formed a dense haze across Europe which resulted to blockage of the sun’s rays from reaching the ground. In addition to the ash, the eruptive clouds that came out of the fissures consisted mainly of high quantities of hydrogen chloride, sulfur dioxide and hydrogen Fluoride gases2. These gases combined with atmospheric water to produce acid rain that lead to death of livestock as well as destruction of vegetations and crops. The effect was however severe in Iceland where seventy five percent of the livestock and twenty five percent of the people died from the toxic impact of the volcanic activities. The impact of the eruption was also felt in places far away from Iceland. During the period the United States recorded low temperatures. In fact, the temperatures in the northern hemisphere decreased by over a degree Celsius. There are various reasons on how large volcanic eruption may have an impact on the global climate. Volcanic eruptions often produce large quantities of carbon dioxide, a gas that is associated with the green house effect. Carbon dioxide is known to trap gases that are been radiated form the surface of the earth forming an insulations around the earth. The green house impact is essential for human survival as it maintains the temperatures

Organisational Information System-Bright Light Limited Essay

Organisational Information System-Bright Light Limited - Essay Example Apart from this there exists a high degree of interdependence between these departments. They need to constantly interact with one another to keep the business running. A lot of information needs to flow from one department to another in order to carry out their transactions. It may so happen that the ignition for the transactions in one department may come from the outputs of another department. Hence this clearly shows that there indeed is a necessity of some means of communication between various departments. The case of Bright Light Ltd is no different. If the transmission of this information among various departments is carried out manually then the maintenance and timely delivery of this information in the expected format would be a highly impossible task. This would be tedious, time consuming and inefficient. It is here that the need for an Information System would be felt. â€Å"An Information system is a formalized computer Information system that can collect store, process and report data from various sources to provide the information necessary for managerial decision making.† (Hicks, 1993) Information system being described here is concerned with not only a computerized application but it also considers the information regarding the organizational activities. An Information system can be specified with the help of the functions it performs. The functions carried out by the Information System broadly fall under five categories. These are namely: (Angell, 1991) Having these things in mind the following report would analyze the Information flow between various departments in the Bright Light Ltd organization. To facilitate this discussion the â€Å"General Systems theory† is chosen. The following discussion would include a brief introduction regarding the systems approach and the concepts used in this approach. This would be followed by identifying the departments in the BLL organization and an information flow

Eco dq Essay Example | Topics and Well Written Essays - 500 words

Eco dq - Essay Example Money is a medium that enables people to forgo the use of goods and service that are less required to them and purchases which are most required. ii. People sell their service (work) to earn money now and to buy goods and services at a later time. Money is essential because it has a value in future and therefore people work to acquire money. The economic system of money functions on the basis of mutual aspects of belief (Moffatt p.2). iii. There are chances when the belief in money is lost or the future value of money is assumed to be low. This happens when the currency is impacted by inflation and people have a tendency to spend their money quickly. But profitable deals are not usually signed during inflation due to the fear of future value of money when it will be actually paid. Inflation can cause various inefficiencies in the economy where shop owners have to change the price of goods frequently and customers have carry loads of money to purchase just a loaf of bread. When people lose faith in money, economic activities are likely to halt. Like any other good, money is also a good which is ruled by the maxim of supply and demand. Money is a good, the value of which is determined by the demand and supply. Money tends to possess less value when there is inflation (when there is an increase in the price of goods) that occurs due to increase in supply of money, demand for money reduces, supply of goods decreases or when the demand for goods increases (Moffatt p.3). When an economy is under recession and there is high rate of unemployment the Fed issues policies to maintain interest rates at low level by purchasing securities. As a result, the price of securities rises and reduces their yields. This action of the Fed increases the amount of reserves with banks and increases the amount of bank credit that ultimately increases the total amount of money in the economy. This is the reason why central banks believe that the

Venezuelan Economy Under Hugo Chavezs Presidency Economics Essay

Venezuelan Economy Under Hugo Chavezs Presidency Economics Essay Venezuela is located in the upper corner of South America and neighbors with Colombia, Brazil, and Guyana. It has been nearly 200 years since Venezuela first gained its independence from Spain (1811). From 1830 onwards, when Venezuela split from the Bolivarian Colombia (1819-1830), the country was governed mostly by military and despotic regimes. That military period lasted until 1958 when the current democratic spell started following the ousting of General Marcos Perez Jimenezs dictatorship.  [1]  Despite that long period of military dictatorships, the Venezuelan economy is considered to be a mixed economy where there is a mixture of command and free market elements  [2]  . These will be discussed in greater depth in the following text. Venezuela had until the 1980s a series of successful periods of economic growth  [3]  . The country had from there on and until 1999 a succession of economic and political crises. The government previous to the election of Hugo Chavez headed by Rafael Caldera was in power from 1994 to 1999. During this time in office he had to deal with high inflation rates and a financial crisis. Due to these severe problems, Caldera was forced to impose an exchange control in mid-1994. This was shortly followed by more stabilization actions that were enforced by the International Monetary Fund agreement. Due to these severe actions taken by the Calderas government (Convergencia) he became severely unpopular among the electorate. This did not help him win his reelection and set the stage for Hugo Chavez  [4]  . The purpose of this essay is to discuss whether or not Hugo Rafael Chà ¡vez Frà ­as regime is moving towards a planned economy due his anti- American stance. Moises Naim states that the rise to power of Venezuelan president Hugo Chavez is often seen as evidence of an impending backlash against globalization, American-style capitalism.  [5]  This statement reflects the change in the governments policies on the Venezuelan economic system. To further explain this transformation it is vital to define what a free market economy and planned economy are. Theoretical Background Hypotheses If the Venezuelan government is moving from a free market economy to a planned economy, one would expect to find evidence of this transition economy. Definitions are needed to be known before explanation of results. A free market economy refers to an economy in which markets, in other words the interaction of buyers and producers, determine price and output.  [6]  In addition, this economic system [relies] on free markets which permit people to engage in economic activities largely free from government control.  [7]  In other words the government must have a hands-off policy in regards to the economy. Therefore, all production is in private hands and companies are able to adjust their wages and prices according to the demand and supply curve. Furthermore individuals are able to make independent decisions regarding the price of products, amount of production, and retailing. The free market economy is one that allows for the best interests of both consumers and producers to be met  [8]  . Advantages of the free market economy include: resources are allocated by market forces and price mechanisms,  [9]  and the motivation of profits provides an incentive to reduce costs and be innovate.  [10]  As William Baumol points out, to some extent, innovation in the economy is important as it indicates the expansion of peoples creativities in businesses and therefore fosters productivity growth in the economy.  [11]  What this makes clear once again is that a lot of the power and decision making lie within companies and the market. Disadvantages can include resources being used up too quickly as firms seek to make high profits and to minimize costs.  [12]  Additionally, large firms can expand and dominate a particular industry; leading to higher prices, and results in excessive power. A planned economy is defined as an economy where decisions are made by the government on the behalf of the people, and in theory, in their best interests.  [13]  This indicates that the state has great ownership of resources in the economy and through this provides social welfare to the people. In this economy the government sets the price of resources. There are thought to be several advantages and disadvantages in a planned economy. The advantages are that the government can directly influence the distribution of income to make it more equal  [14]  . In addition the government determines which [types of goods] are to be supplied  [15]  . This necessarily gives the government the power to decide what goods are considered to be important in the society. A disadvantage of this economy is the government [s dominance which] may lead to a loss of personal freedom of choice  [16]  . Unlike the free market economy there is no incentive for individuals or firms to be innovat iveà ¢Ã¢â€š ¬Ã‚ ¦ goods are often of poor quality and usually a limited choice.  [17]  No competition in the economy and low profit (or absence of profit altogether) can lead to inefficiencies of resources. In short, it is the government, and not the consumers, who make all the decisions. A planned economy is an ideology often used by governments in communist states. Countries like Cuba and North Korea are currently using a planned economy system. An important concept of economic theory in describing a planned economy and free market economy is the understanding of economic growth. Economic growth is defined as an improvement in the standard of living (that) typically occurs when an economy increases its output of goods and services during an expansion  [18]  . This leads to economic development which refers to an improvement in living standards in an economy encompassing material consumption, education, health, and environmental concerns.  [19]  Therefore the use of a production possibility curve (PPC) is implemented to determine economic growth. Looking at the graph below (figure 1), one can see the theoretical downfall of the total goods and services (GDP) as the market moves from free market to planned economy. The PPC1 curve shifts downwards to PPC2 a level where planned economy would function. In moving from a free economy to a more planned economy orientated structure (transition economy), theoretically the output of the countrys total goods and services would decrease because of the inefficiencies. Overall the economic growth diminishes as the governments dominance in the economy increases. Figure 1 The PPC can also be used to better understand the change in government spending in a planned economy. This curve demonstrates the shifting of the government spending. The graph below (figure 2) presents public sector production and private sector production. The PPC curve represents the maximum amount of output possible given the available resources.  [20]  . At point A, there is an equal amount of production from the public and private sector. The total production at point A is on the PPC curve meaning that the maximum level of production is obtained  [21]  . As the government moves closer to a fully planned economy and it begins to invest in the public sector which include schools, health programs, housing, and so forth bureaucracy and inefficiencies increase and production moves to point B.  [22]  As we can see in figure 2, point B is no longer on the PPC curve but below it, signaling that the maximum level of output is not being achieved. Figure 2 Methodology Departing from the following hypothesis If the Venezuelan government is moving from a free market economy to a planned economy, one would expect to find evidence of this transition economy. This evidence would be found in several areas. One would expect to find more government bureaucracy and interferences in private enterprises. This could take the form of increased unjustified fines, paper work, restriction of all kinds, and control, which all result in reduction of business. One would also expect to find an increase in the nationalization of private companies; this could take the form of expropriation of private lands by the government. Further evidence of a movement towards a planned economy would be greater spending on social welfare. This would be clear in areas such as health, education, and housing. Finally, one would expect to find evidence of more interference in the economic structure exemplified by manipulation of currency exchange rates. To prove my hypothesis, this evid ence should be demonstrated as actually present in order to confirm the transition of Venezuelas economy. To prove or disprove my hypothesis I relied both on primary and secondary sources. In investigating primary sources, I met with two local business men  [23]  and one professor  [24]  in Venezuela. I then asked them specific questions  [25]  regarding their businesses in this transition economy. Furthermore, in October 2010 on a visit to Venezuela, I was able to make my own observations of the state of the country. In investigating secondary sources, I researched articles and books written by authors and journalists. In addition, I looked for statistics that represent the movement from a free-market to a planned economy. Results Analysis Evaluation More government interference on businesses When Hugo Chavezs government got into office in 1999, the government slowly imposed new regulations on all sizes of businesses. This policy mainly impacted negatively small businesses and employment. I interviewed one business man, Otto Horn, regarding the increased bureaucracy that his firm, Floritec  [26]  , encounters. In this interview he stated that It is harder to import and export raw materials and finished products abroad  [27]  . Many businesses are required to fill in extra custom paper work for SENIAT (the governments tax collection entity)  [28]  and face crippling fines for even a minor inconsistency in the eyes of custom agents. It gets harder by the day to keep small enterprises in business. This has led to higher cost for businesses as these bureaucratic obstacles force the firms to hire more labor to deal with these issues. As well, it is noticed that waiting for approvals from the government in so many newly imposed demands on small enterprises means los s of time and money which impacts the efficiency of these businesses. To put an example, the government has begun charging firms for the use of their own company logo on their own trucks. Otto Horn stated, If you want to put a company logo, you need to buy a license from the government and this raises costs.  [29]  These examples point to an increased level of government interference. Small businesses are mostly affected by these measures as they dont have enough capital to cover these new expenses. Big businesses have also been affected by these government interferences and even though they are better prepared to cope with it the uncertainty leads to less investment and further instability in the economy as a whole. In early 2009, the economy encountered high inflation  [30]  . This caused a surge in the prices of all products. The Venezuelan government, under Chavez, made several attempts in reducing this high inflation. One of the actions taken was imposing price controls on certain staple foods in an effort to make them more affordable to everyone. However, this action did not have the best outcome, [the] government [`s] attempts to impose price control has had limited effect as big food producers have cut back on production, food distributors have decreased shipments and even hoarded essential goods and retail sellers have traded on the black market  [31]  This control further damaged the food producers by cutting their profit which forced them to reduce the costs, which in one example was achieved by reducing the number of employees. Furthermore, Luis Carmona of Polar states, Forcing companies to produce rice at a loss will not resolve the situation, [and] simply makes it worse.  [32]  In addition, fewer goods could be established on the market. These price controls largely affects food producers and many food processing companies became bankrupt. Hugo Chavez and his government decided to sue or even nationalize dysfunctional companies if they do not follow the governments rules  [33]  . Hugo Chavez said he would take over the control of the food processing industries, as he said in one of his statements, I will expropriate them, I have no problem with that, and Ill pay them with bonds. Dont count on me paying with hard cash  [34]  . This suggests that the government is serious about making food available to the poor but on the other hand, private firms cannot cope with the price changes unless it cuts down on costs. This is all evidence of a planned economy. Government interference was evident in the conversation with another business man named Jorge Redmond, CEO of Chocolates El Rey  [35]  . Mr. Redmond initially wanted to merge his company with the world renowned company, Nestlà ©. He wanted to merge the company to avoid suffocating levels of governmental interference and bureaucratic hurdles brought upon the firm affecting its products exports mainly to its U.S customers. However the government blocked the deal between the potential mergers, as the government did not want more foreign presence in Venezuela  [36]  . The governments move against expansion of global assets limits the choices of private firms. This emphasizes the governments bureaucracy and interference on businesses. Government Nationalization Growing bureaucracy and government interference have led to a failure of private companies as they cannot maintain healthy profitability levels. This has given the government an excuse to nationalize private firms. Common examples are CA Nacional Telefonos de Venezuela (CANTV), the countrys telephone company and Electricidad de Caracas, the largest electric company in Venezuela  [37]  . These nationalizations were linked by Chavez to his pursuit of XXI century Socialism  [38]  . In July 2007, at the start of the high fuel prices, the government nationalized key infrastructures of the Venezuelan economy in an attempt to reach the goals of the government.  [39]   Also in 2007, the government stripped assets from two U.S. oil companies Exxon Mobil Corp. and ConocoPhilips.  [40]  The government seized control of the profits of both companies. In the following year, 2008, Hugo Chavez and his government ordered the nationalization of the cement industry, Cemex,  [41]  a Mexican owned company. Chavezs rationale was to prepare for future building in the housing sector. In addition, in 2008, the Venezuelan steel mill, Siderà ºrgica del Orinoco SIDOR, was nationalized. Chavez complained the companies do not put a high enough priority on supplying the domestic market  [42]  . In 2009, the government for the first time ordered the Venezuelan armed forces to take over a business, in this case a rice processing plant  [43]  . In October 2010 the government nationalized AGROISLENA, the countrys largest producer of goods and services for the agricultural sector  [44]  . According to The Economist, since Hugo Chavez got into power in 1999, almost 400 companies have been nationalized, the vast majority in the past two years.  [45]  This shows the governments movement to take over major industries in order to fix the prices of the goods. All the above actions taken by the government have been sweeping reforms throughout the nation with the aim of reducing the prices of products which would result in massive consumption of the products by the local economy. The nationalization of firms by the government points to evidence of a planned economy as the government begins to de-privatize companies, moving towards a greater control of how the economy functions. More Social Welfare Spending Hugo Chavez came to power by promising the people a reduction in poverty and an increase in quality of life for the masses. This spending was fueled by high oil prices in July 2007, crude had reached the remarkable world market price of $US 147 per barrel.  [46]   This increased spending in the public sector gives more evidence of the move to a planned economy. The graph (figure 3) below shows the statistics of government public expenditure  [47]  . The current regime under Hugo Chavez has increased public spending by a factor of 13 between 1999 (the year Chavez entered office) to 2008. Figure 3 The government has spent money on the educational, health, and housing sectors. With the increase profits from the oil rents and productions, the Ministry of Education has introduced mission programs, Robinson I and II are mission[s] focusing on literacy and primary education for adults, Ribas and Sucre target secondary and university education for individuals who never had the opportunity to attend or those who dropped out.  [48]  This missions are examples of increased spending on the public sector. Hugo Chavezs government has increased public spending on the health sector of the economy. The government has created new mission programs such as, Barrio Adentro [which] provides free health care to the poor through the assistance of tens of thousands of Cuban doctors  [49]  Internet correspondence with Guillermo Buhrkohl  [50]  , a political professor from Venezuela, confirms this in the following, The health programs known as Mission Barrio Adentro and Mission Miracle, are programsà ¢Ã¢â€š ¬Ã‚ ¦ aiming [at]à ¢Ã¢â€š ¬Ã‚ ¦ providing primary medical attention to the shantytown population; however the professor confirms the government is literally asphyxiating both health care provided by private hospitals and the traditional public health system, paradoxically the later is the place where the poor go when a very limited Barrio Adentro cannot cope. This proves that there has been an increase in government spending on healthcare which could be seen as detrimental to both priv ate and public sectors. The government promised the masses to increase the public social welfare to all. This would also include the construction of close to free housing for each family. From my own personal observation while visiting the country in October 2010, the use of the billboards to promote housing plans was clearly evident everywhere  [51]  . This evidence of increased spending in the public sector mostly for political purposes adds up to the motive of the planned economy. Manipulation of currency Hugo Chavezs government has interfered deeply into the currency market. The government has made severe adjustments to currency, starting with the introduction of strict exchange rate controls by pegging the exchange rate to the American dollar in 2005. In 2008, the government changed the numerical currency making 1,000 Bolivars equal to the value of one Bolivar Fuerte (strong Bolivar)  [52]  . This measure could be seen to minimize the perceived inflation due to government action. However, it does not address the inflation that the country faces. In January 8th 2010, the government announced the devaluing of the currency by up to 50%  [53]  . The government believed that the devaluation of the Bolivar would trigger an export boom as Venezuelas exports would become more competitive. In reality, the devaluation had little to no effect on the countrys exports, as can be seen in Figure 4  [54]  . Figure 4 As mentioned above, in 2005, Hugo Chavezs administration made extreme adjustments to the Venezuelan financial system. The governments control over the currency exchange rates is shown in a statement, The introduction of the exchange controls has meant that companies and individuals have to apply to the Comision de Administracion de Divisas (Cadivi, the official foreign exchange agency).  [55]  This is where the government fixed the currency rate at 2.15 to the dollar. This triggered an increase in imports from 2005 which can be seen on the graph above (Fig.3)  [56]  . On January 8, 2010, the devaluation has occurred; from 2.15 bolivars to the [US] dollar to 4.3 bolivars to the [US] dollar  [57]  explained above caused higher consumer inflation on goods thus affecting the total spending on imported goods like televisions. The devaluation of the currency and exchange controls has lead the Venezuelan economy to have extremely high inflation. Consumption in the Venezuelan economy has decreased and business production has lowered to meet their expenditures. For example, Movistar, [in Venezuela] a mobile phone company owned by Spains Telefonica, last month [August 2010] à ¢Ã¢â€š ¬Ã‚ ¦ suspended roaming agreements in 13 countries.  [58]  This indicated that the dollar squeeze is affecting the Venezuelan economy deeply. On the other hand, high inflation means that the government gets more Bolivars from a quick recovery of oil prices, and exporting oil to United States. This money allows the government to satisfy the needs of the Venezuelans to the best interests of the government, and this brings the role of the government into everyday lives as, that gives Mr. Chavez the chance to throw money around: pay rises for the army for example.  [59]  This manipulation of the currency gives solid evidence of interferences in economy by Hugo Chavezs government which adds a new element that confirms the hypothesis of a transition towards a planned economy in Venezuela. Conclusions In this investigation, I found information that supports the transformation to a planned economy from a free market economy in Venezuela. The evidence included: increased government bureaucracy, nationalization of the private sector, increased government spending in social welfare, and increased manipulation of the currency. This has led Hugo Chavezs government to gain greater control of the Venezuelan economic system since his election in 1998. The government is able to decide which goods and services are considered to be important for society. Such examples are the heavily subsidized food distribution firms (MERCAL and PDVAL) created by the government  [60]  . In this investigation, there are a number of difficulties that hinder the gathering of evidence. First, it was hard to gain true statistics regarding the economy. For example, the unemployment rate is hard to determine due to the fact that workers in the informal sector of the economy are included in the statistics which constitutes half of the countrys total workforce  [61]  . It was difficult to find statistical data to support the losses of business budget. Despite my attempts to access this information through internet sources, I was unsuccessful. Secondly there has been a strong political bias in many articles, books, and interviews. These biases affected my research and influenced me deeply, though I made every attempt to remain objective. In addition, it was often hard to separate politics from economics where both are closely linked together. These shortcomings together with a lack of time beg for further and more in depth research to formalize conclusions. Specifically, I would wish to focus on a significant number of concrete business cases where the governments interference in the economy has greatly affected their profitability. I would be interested in confirming the statistical data to support the hypothesis presented. However, the evidence and research presented here demonstrate that there are elements to sustain my hypothesis. It is clear that the government is seriously attempting to impose upon the country a planned economy of the Venezuela. Whether the government is able to complete a transition to a fully planned economy or not, this conclusion stands regardless. In my opinion, the move to the planned economy under Hugo Chavez can have a negative impact on Venezuela as it has negatively limited the freedom of Venezuelan businesses and increased government interference in the economy. Evidence can be found in articles discussing the current brain drain  [62]  ; the educated Venezuelans are more likely to leave the country. Many of these educated people whom are students, professors, doctors, business owners and so forth have either moved to Colombia or to the United States. References Bad news for Venezuelan economy. El Universal 24 May 2010: n. pag. Web. 22 Nov. 2010. . Baumol, Willam. The free-market innovation machine: analyzing the growth miracle of capitalism. Oxfordshire: Princeton University Press, 2002. Print. Blink, Jocelyn, and Ian Dorton. Economics: Course Companion. Oxford: Database right Oxford University Press, 2007. Print. The Bolivarian Brain Drain. Newsweek 1 July 2009: n. pag. Web. 22 Nov. 2010.

Sheltering Sky versus Blood Meridian Essay examples -- Paul Bowles Cor

Extreme circumstances bring about substantial changes in people. At least that is what Paul Bowles and Cormac McCarthy seem to be saying in the writing of their respective books, The Sheltering Sky and Blood Meridian. Both authors place their characters in difficult locations, dealing with difficult people and expect them to emerge changed, for better or for worse. In The Sheltering Sky, Bowles takes his American trio and places them in the desert lands of the African continent where the wide, dry impossibly desolate terrain takes its toll on their minds and bodies. Likewise, McCarthy takes his ragged bunch of marauders, most prominently the Kid, and has them wandering the massive expanse of the untamed west. This convention of forced growth is constant throughout both books, and the reader gets the unique opportunity to observe those changes from an objective point of view.   Ã‚  Ã‚  Ã‚  Ã‚  In The Sheltering Sky, we meet Port, Kit and Tunner initially as continental Americans on a sort of tour for spoiled expatriates. They seem oblivious to the fact that the area and the people who inhabit it are recently war-torn and decimated. The countryside has been ravaged by the war but the three of them seem to ignore that fact and continue through it in a sort of dazed, self indulged coma. The same, or a similar, situation is present in McCarthy's Blood Meridian, his characters, mainly the Kid, are making their way across the Old West, looking for money an adventure. They venture into Me...