Relationship between Trade and Development

Introduction/Background on trade Trade and development relate considerably. They are able to influence the fates and providences of each other. Modern techniques of transportation, transactions, and communications have enhanced the growth of international trade.Advertising We will write a custom essay sample on Relationship between Trade and Development specifically for you for only $16.05 $11/page Learn More Records retrieved from GATT, WTO, OPEC, and other international trade organizations have shown tremendous relationships between trade and development (World Bank 364). This report discusses how trade can be a pro-developmental provision and the relationship between the two groups. Usually, the relationship between a country’s trade and its economic development has always been a subject of interest. For example, developing states possess strong trade relations with other countries globally. Views of Different Schools of Thought According to Ad am Smith in his classical theory, free trade often leads to efficient use of a country’s resources. Contextually, it is important to agree that free trade improves economic performance by increasing competition of the concerned entities. Current prospects for a new WTO agreement are to enhance international trade by uplifting probable barriers, which the GS would like to keep. Different parts of the world will fare well while Africa will benefit through magnificent developments. Additionally, various countries should embrace the aspects of specialization and division of labor in order to enhance their output. For example, it is agreeable that trade and development are linked either positively or negatively depending on how a country establishes and utilizes its trade opportunities. Trade triggers the aspects of development since different entities can attain their respective developmental needs through it. Numerous countries have attained their developmental ideas and materia ls through integrated trade and other relevant provisions. It is possible for a given country to attain what it does not produce through trade (Greenaway 49). For example, these provisions have been supported by GATT/WTO, OECD, OPEC, and other prominent organizations established to promote the aspects of global trade and other concerned provisions.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Different hypothesis, theories, and models Numerous theories exist in order to unveil the relationship between trade and development. Additionally, there are particular theories that explain various aspects of trade and development. These have helped in relating the two factions together and enhancing the relationships alleged between them. Additionally, hypothesis has been formulated to trigger viable research regarding the alleged relationships. It is important to enhance the aspects of trade and development in order to propel the prosperity of the concerned countries, regions, and organizations. Theoretically, trade enhances development in various organizations, regions, and countries. This is a critical concern when scrutinized critically. It is from this context that the entire business prospects and other relevant provisions lie. Additionally, trade models can influence the nature of development, which a country assumes. Arguments for and against the above theories Theories supporting the relationship between trade and development are vital in this context. For example, it is agreeable that numerous countries globally have exploited the opportunities fronted by trade in order to develop tremendously. This has been quite important in diverse contexts. Hypothetically, it is important to illuminate the alleged relationships (UNCTD 65). Nonetheless, there are arguments that might defy the positions assumed by the mentioned theories. It is agreeable that there can be no relat ionship between trade and development as alleged by some theories. Some countries can develop minus the assumed trade. There are various avenues through which organizations, entities, and some countries can develop minus trade. Current issues facing trade and development relationships There are various issues facing trade and developmental relationships. Some of these factors have contributed negatively to the mentioned provisions. Contextually, they have affected the wellbeing of the alleged relationships between trade and development indicated before. Contextually, market access is one of the issues affecting the aspects of trade. For example, access to markets in developed countries can enhance the aspects of development thus help in reducing poverty. This indicates how trade relates positively to development. The current prospects for the new WTO are to enhance the flowage of trade among the member countries globally. For examples, several Asian, American, African, and European countries have joined the organization in order to open up their markets, enhance international trade, and promote their developmental issues. Previously, GATT was signed in 1946 and lasted until 1993.Advertising We will write a custom essay sample on Relationship between Trade and Development specifically for you for only $16.05 $11/page Learn More The organization was then replaced by the WTO in 1995 to open up markets and enhance accessibility. For example, WTO handles the global rules of trade amid nations. Principally, it ensures that trade flows as efficiently, predictably, and liberally. It thus promotes the relationship between trade and development. Additionally, various countries are influenced by varying political factors. This eventually affects the aspects of development in case such factors are unconstructive. The situation is critical in various contexts (Babkina 84). The political situation of any given region can affect the mentioned de velopment besides the ability to hinder the needed universal trade provisions. It is recommended that the concerned countries endeavoring to enhance their trading opportunities should adopt substantial political provisions in order to favor their trading endeavors. Nevertheless, for the least-developed countries (most of the African countries for example), the principal problem is not market access, but inadequate production capacity to attain new trading opportunities. Another issue influencing the relationship between trade and development is the trade barriers. For example, high tariffs imposed on agricultural goods and other prominent commodities have discouraged diversification and developmental endeavors. Additionally, strong and complex tariffs have blocked the mentioned market access and development provisions. Another hindrance to the mentioned relationship is the lack of capacity. For example, some countries have poor infrastructures. This eventually hinders the aspects of trade and other relevant developmental issues. Another issue facing the trade and development relationships is the legal matters governing the aspects of trade. These can be enacted locally or internationally as evident in the GATT and WTO’s contexts. Uncooperative legal matters can hinder the aspects of trade. This will eventually affect trading provisions. It is crucial to consider these cases in the context of trade and development (Lee 36). Similarly, the rules set by international trade organizations have influenced the relationships between trade and development (Narlikar 59). There are some countries which are barred by such legislations in the context of trading. Some countries have been banned from international trade due to misconduct or failure to adhere to some stipulated rules and regulations.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This provision has eventually affected the aspects of development in such countries. Additionally, independence attained by various countries has also influenced the aspects of trade. For example, development was historically perceived as a problem to be solved by foreign aids and loans from developed countries in the East and West. Another considerable issue in this context is the aspects of technology. Technology has enhanced transactions, international cash transfers, communication aspects, and transportation of commodities from one region to the next. This provision has eventually influenced development as alleged earlier. Through technology and trade, it is possible to attain development (OECD 63). Any factor that influences the provisions of trade eventually influences developmental issues. Another issue is globalization. It is evident that globalization has enhanced the aspects of international trade hence eventually influencing developmental issues in various countries, regi ons, and organizations. Globalization has massively influenced the relationships between trade and development by expanding their provisions and elaborating the nature of the concerned relationships. Concurrently, social and cultural issues can actually influence the relationship between trade and development (Ajami 46). Various communities, regions, and countries have their social and cultural provisions, which can influence their participation in trade and other relevant provisions. Negative social and cultural provisions have always hindered trade and developmental issues. Personal Opinion Critically, it is important to agree that trade and development have considerable relationships as indicated earlier. It is obvious that the promotion of trade will eventually enhance developmental provisions despite the challenges. This is a critical provision as exhibited before. The approaches given to these factors have influenced their fates in the trade and developmental contexts. This is a critical provision indicating the relationship between trade and development. The schools of thought bestowed to this topic have considerable disparities in their provisions. No approach is appropriate as alleged; nonetheless, it is important for each provision to discern prospected relationships between trade and development. Various opening markets have influence the aspects of trade and operations of WTO. Continents like Africa have benefited considerable from the aspects of trade and development. Conclusion Conclusively, there is substantial relationship between trade and development. Several schools of thought have tried to discern this allegation. Nevertheless, theories, hypothesis, and models endeavoring to discern the relationship between trade and development are evident in this context. Concurrently, there are current issues facing trade and developmental relationships. Evidently, trade can be a pro-developmental provision. Works Cited Ajami, Riad. International Busines s: Theory and Practice. Armonk, NY: M.E. Sharpe, 2006. Print. Babkina, Ankras. World Trade Organization: issues and bibliography. Huntington, NY, Nova Science Publication, 2000. Print. Greenaway, David. The World Economy: Global Trade Policy 2011. Oxford: Wiley-Blackwell, 2012. Print. Lee, Byung-Hwa. Fdi from Developing Countries: A Vector for Trade and Development. Paris: OECD Publishing, 2002. Print. Narlikar, Amrita. The World Trade Organization: A Very Short Introduction. Oxford: Oxford Univ. Press, 2005. Print. OECD. World Economic Situation and Prospects 2010. New York, NY: United Nations, 2010. Print. UNCTD. Commodity Prices, Capital Flows and the Financing of Investment. New York, NY: United Nations, 2008. Print. World Bank. World development indicators 2010. Washington, DC: World Bank, 2009. Print. This essay on Relationship between Trade and Development was written and submitted by user D'KenNeraman1 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.

Valuation by Discounted Cash Flow (DCF) Essay Example

Valuation by Discounted Cash Flow (DCF) Essay Example Valuation by Discounted Cash Flow (DCF) Essay Valuation by Discounted Cash Flow (DCF) Essay As shown in Exhibit A, the revenues for USG were projected to be $2. 1 billion in 1988. Revenues were then projected to grow at 4% to 7% for the next four years from 1989 to 1992. Revenues for the terminal year were projected to grow at 4. 5% to $2. 7 billion, largely based on inflation as well as with consistent growth rate. EBITDA for 1988 was projected to be $396 million, versus the actual of $531 for 1987. The significant drop in EBITDA was attributable to the restructuring expenses, coupled with the decrease in sales. EBITDA would then gradually increase to $617 million in 1992 with EBITDA margin of 24. 2%. With the same EBITDA margin as 1992, EBITDA for the terminal year was projected to be $645 million. Depreciation and amortization for the projected period were in the range of $71 million to $84 million, and $70 million for the terminal year. The Company would invest between $58 million and $121 million in capital expenditures for the projected period. The terminal years capital expenditures were assumed to be at the same level as depreciation, which amounted to $70 million. With a 36% tax rate, the debt-free net income increased from $200 million in 1988 to $349 million in 1992, with $368 million in the terminal year. Total free cash flow ranged from $248 million to $315 million for the projected period except for 1989 with $785 million primarily due to asset sales realized. As illustrated in Exhibit B, with a risk free rate of 8. 9%, risk free premium of 6. 0% and the beta of 1. 37, the cost of equity for USG was calculated at 17. 2% by using the CAPM equation. The cost of debt was 10. 97% based on the Baa bond rating. Taken into account the 36% tax rate and the debt weighting and equity (market) weighting of 28. 5% and 71. 5%, respectively, the weighted average cost of capital (WACC) was calculated to be 14. 3%. Based on the WACC of 14. 3% and the long-term growth rate of 4. 5%, the terminal value for USG was $3. 6 billion. By discounting each periods free cash flow by the WACC of 14. 3%, the sum of the present value of free cash flows for the 5-year period 1988 to 1992 was $1. 3 billion. The present value of the terminal value was $2. 0 billion, also by discounting it by the WACC. As such, the enterprise value for USG was $3. 3 billion ($1. 3 billion + $2. 0 billion). To calculate the stub value, total debt at closing has to be subtracted from the enterprise value. With the total debt at closing as high as $3.1 billion, the stub value was computed at $188 million, or $3. 65 per share. Therefore, the value per share of the leveraged recapitalization was considered to be approximately $45. 65 ($37 + $5 + $3. 65). However, this value might have been too optimistically represented because the debt on the Company was evidently too high and the $5 of junior subordinated debentures might only be worth $1 to $2 per share while the stub value might be diluted to almost nothing, or worthless. Valuation by Multiples From the information available in the case, the transaction P/E multiples in the building products industry were between 11.6x and 13. 4x, with a median of 12. 8x. Multiplying USGs projected 1988 EPS of $3. 46 by the median P/E multiple of 12. 8x gave a $44. 29 value per share. The trading P/E multiples in the building products industry were between 10. 4x and 15. 7x, with a median of 11. 6x. Multiplying USGs projected 1988 EPS of $3. 46 by the median P/E multiple of 11. 6x gave a $40. 14 value per share. Please refer to Exhibit C for more details. It can be concluded that based on the valuation by market multiples (averaging transaction and trading), USGs value per share was worth approximately $42.22. Advantages of Leveraged Recapitalization USGs leveraged capitalization was intended to provide shareholders with a significant distribution of cash and securities and permit them to retain their proportionate long-term equity interest in the Company. As in this case, shareholders would be receiving $37 in cash for each share of common stock, $5 in stated face amount of 16% junior subordinated pay-in-kind debentures, and one share in the newly recapitalized company. The purpose of leveraged capitalization for USG was to defend against the hostile takeover by Desert Partners. To finance the leveraged recapitalization, USG had to raise approximately $2. 5 billion; a majority of that would be used to pay the shareholders. The substantial increase in leverage would discourage outside bidders. In addition, USGs leveraged recapitalization represented a continuation for the Companys long-term decentralization program and an attempt to get each subsidiary to focus on growth opportunities with their specific markets. The Company proposed selling three subsidiaries which was expected to generate $519 million after taxes. The Company would also discontinue any products and distribution channels that failed to pass certain stricter investment criteria. USG would also reduce capital expenditures by up to $100 million per year and operating expenses by $70 million per year. Another good point of leveraged recapitalization is that it stimulates management to perform well as a company. It alerts the Company to cut costs and improve its overall operations. Since USG would be burden with a large amount of debt, it created pressures for the Company to execute its business model and hit performance targets in order to develop cash flow to service its debt. Further, as discussed above, relatively large issue of debt is intended to use for the payment of a large cash dividend to non-management shareholders, and for the repurchase of common shares. The end result is an increase in the ownership share of USGs management. A defensive leverage recapitalization might succeed by returning cash to shareholders that is close to or more than the takeover offer. In the case of USG, we will be discussing and comparing the USG leverage recapitalization value and the Desert Partners offer.

Lebanese Security Issues and Solutions - Syrian Involvement Essay

Lebanese Security Issues and Solutions - Syrian Involvement - Essay Example Other groups that worsen the complication are the participation of the Libyans, Iraqis, Americans and the Russians ("The Lebanese War", 2005). The 15-years war in Lebanon (1975-1990) has begun from the disputes and political clash since the colonial period. One of the factors that aggravated the war was the conflict between the Christian and the Muslim. Added to these are the nearness of the country to Syria, the political revolutions and many other events in Israel and the Palestine Liberation Organization. The growing Arab Nationalism and Socialism in the perspective of the Cold War are the other contributing factors to the conflict in Lebanon. Also included were the trouble between Arab and Israeli, the revolution in Iran and the Palestinian terrorism. To complete the list, the Black September in Jordan, Islamic fundamentalism, and the war between Iran and Iraq are the rest of these factors. The war brought countless of victims. More than 100,000 people were killed and almost 100,000 persons were injured and added to this were the thousands who lost their limbs resulting from the explosion of land mines. More than 900,0 00 innocent civilians were dislocated. More than double of this number migrated to other countries to keep away from the trouble. The Lebanese war can be divided into a number of periods. The outburst of the war was in the middle of 1970s then in late 1970s came the intrusion of the Syrian together with the Israeli. It was then followed by the intensification of the war between the PLO and the Israeli that occurred in early 80s. The invasion of Israeli in 1982 and the involvement of the multinationals were the added factors to the conflict which happened after was the resolution of the Syrian occupation ("History of Lebanon", 2006). Large contingent of Syrian Army was remained in Lebanon as early as 1976. Although the war has ended, the Syrian keeps a total of 14,000 soldiers to maintain the peace and order in the country. With their presence and involvement in Lebanese political affairs, the major political decisions are mostly made in Damascus ("Young in the Arab World: Lebanon", 2005). At first, the Syrian's presence in Lebanon is supported by America for more than 30 years together with the Israelis they favored the stay of the Syrian forces to keep the control of the 300,000 Palestinian refugees in the country. At present, the continuous stay of Syrian troops and its domination to the internal affairs of Lebanon is becoming the concern of U.S. President Bush (Fisk, 2005). Growing number of Lebanese are becoming displeased in long stay of the Syrian troops in the country. The Christians are believed to be the most affected group in the peace and security situation. The presence of checkpoints can be noticed in many parts of the country. Large posters of former President Hafez Assad can be seen everywhere. Spies or undercover agents who are dispersed anywhere brought fear to the people. The Lebanese Government is largely influenced by the Syrian particularly in their major decision making and political exercises. Tension are felt during election, the officials to be elected should be endorsed by Syria. It was only until last year

Strategic Management Accounting Essay Example | Topics and Well Written Essays - 2250 words

Strategic Management Accounting - Essay Example Current Situation Electronic Boards plc is electrical engineering company and it has been in the business since 1970’s. Company has almost 200 employees and it has been profitable over the last several years. Since establishment to 1985 company has been conducting operations without maintaining true accountancy systems. However, financial crisis has hit the company and it recorded a loss of ?1.7 million. This loss also had an impact the liquidity position of the company. The company’s management director Jack Watson has recently decided to develop the management accounting system for the firm to keep the track record of entire operations and to make sure that the company is able to understand how different products are performing. This report will analyze and outline the main factors that the company needs to consider in establishing a useful management accounting function within the company. ... Investing In Different Projects It has been found that the company directly purchases new technology or equipment in order to improve the productivity without analyzing the cost and benefit ratio of the investment. Therefore after establishing accounting system, the management would be able to make decisions by analyzing the cost and return of the investment and thus it can be helpful in increasing the profitability as only profitable investment will be accepted and others will be rejected (Jaffe, 2007). Moreover, it will be helpful in reducing the interest charges and high bank charges as the company will not be investing in every other technology that comes up. Identifying Areas Of Improvements As the company will have proper management accounting system, so with this the company will be able to identify areas where it can reduce costs and thus it can be helpful in increasing profitability. CONCLUSION Management accountings system, once developed, will provide more insight about th e current status of business and would enhance its capacity to ability to develop and enhance its capacity to compete and forecast its future needs. Moreover, the company would be able to improve its profitability and at the same time manage situations like recession in a better way. References Jaffe, J. (2007). Corporate Finance, Pashupati Printers Pvt Ltd: Delhi. Keown, A., Martin, J., & Petty, J. (2011). Foundations of finance (7th ed.). Boston, MA: Prentice Hall. Johnson, G., & Scholes, K. (2001). Exploring Corporate Strategy: Text and Cases. 6edition, Prentice-Hall:

Slave resistance Essay Example | Topics and Well Written Essays - 750 words - 1

Slave resistance - Essay Example the behaviors exhibited by individuals are observable and does not necessarily require the observation of their mental states in order to explain their behaviors in the environments that they live in (New & Cochran, 2007). However, Watson indicated that observable behaviors are the only ones that can be included in the observation rather than those that include subjective emotions. Drawing on this, this essay will delve into the concept of behaviorism with a focus on learning behavior based on the research findings of Pavlov’s dogs and Skinner’s rats. Essentially, behaviorists deem that people can receive training in order for them to execute various tasks irrespective of their genetic composition or their personalities as long as the conditioning is the right one. In this regard, the two types of conditioning are classical and operant conditioning in which most of the adherents of behaviorism abide by. In essence, operant conditioning is a learning method that involves the inclusion of rewards or punishments depending on the behavior exhibited. On the other hand, classical conditioning is another form of behavioral training method whereby there is a natural response in terms of behavior to the stimulating factor applied (New & Cochran, 2007). The terms used to define the two factors applied in this form of conditioning are conditioned stimulus and response. Based on this school of thought, Russian Psychologist Pavlov applied the conditioned response drawing from the behavior that his dogs portrayed when it came to them salivatin g whether or not their master brought food during his entry into the room that they were in. Through research, Pavlov discovered the salivating behavioral trait that dogs tend to have is not a trainable behavior, meaning that the response is unconditioned indicating food is not the only stimulant that provokes this response. In the course of Pavlov’s research, this psychologist unearthed that dogs salivated or exhibited the same

Business Model For Ebay Marketing Essay

Business Model For Ebay Marketing Essay Innovation is not a single but a total process of interrelated sub processes. It is not just the conception of a new idea, nor the invention of a new device, nor the development of a new market but all of these things acting in an integrated fashion (Myers and Marquis, 1969). Innovation can as well be explained with the following equation: Innovation = theoretical conception + technical invention + commercial exploitation. EBay is the online trading community between person-to-person and is one of the few profitable internet companies. EBay effectively created a new business model never before possible with efficient one-to-one trading in an auction format. Individuals use 4,300 categories in eBay to buy and sell items of wide range, from collectibles and antiques to electronics and toys. Sellers pay a nominal fee for placing an item up for sale, and eBay receives a transaction fee ranging from 1.25% to 5% of the final sale price on any item sold. The buyer and the seller work out the logistics of the transport (e.g. shipping, payment) between themselves, and eBay never takes possession of the item being sold, or the payment for the item removing the need for inventory, transportation and other overhead costs. Business Model Business model defines how a firm will define and promote its brand (plans to operate), produce and distribute its product (generate revenue) and build or attract its market (compete). The success of business depends on selecting the appropriate business model. Business models convert new technologies to economic value. For some start-ups, familiar business models are not always applicable so a new model must be devised. In some cases, the importance of business model far exceeds the innovation of the product or service itself. Role of the Business Model Technical Inputs Business Model Economic Outputs A business model bases on a multitude of business subjects including economics, entrepreneurship, finance, marketing, operations, and strategy. The business model itself is an important determinant of profits to be made from an innovation. A mediocre innovation with a great business model may be more profitable than a great innovation with a mediocre business model. EBays business model was based on creating and maintaining a person-to-person trading community, providing millions of auctions, and hundreds of thousands of new items every day from which bidders may choose. After implementing their model, EBay has been able to build strategic partnerships, continue making innovative changes and progressions, and supervise its internal and external environments for possible future opportunities which have made them the worlds largest online auction company. Since the site provides plenty of reasons to stay for longer period of time and revisit on a regular basis, eBay has become hugely successful. The longer they stay on eBay, there is more chance to complete a transaction and generate revenue for eBay. The other reason for eBays success is their highest bidder wins style auction mechanism as a means of earning profit from charging a premium for mediating between buyers and sellers as a third party. In using this mechanism, a history of prices exist s (price points), creating increased inter-play between competitors in the marketplace. EBays business model recognizes these specific elements as a key to its success. They are (as given in the case study): It is the largest online trading forum with a huge mass of buyers and sellers, and varied range of items listed for sale Its compelling and entertaining environment with strong values and established rules hence facilitating communication between buyers and sellers. It has programs such as Safe harbor to aid in disputes and to punish users who violate eBay Cost effective and convenient trading Strong community affinity An intuitive user interface that was easy to understand, arranged by topics, and fully automated The founder of eBays vision was to create the environment and provide users ways to interact. Rather than finding various ways of making money, eBay has focused on creating a community of users by which they ended up making lots of money. According to a survey, the average eBay user spends an average of one hour, 26 minutes and eight seconds on eBay (http://www.marketingcharts.com/direct/ebay-aol-benefit-from-increased-us-web-usage-12765/). In contrast, visitors to catalogue stores and other commercial websites might spend only ten or twenty minutes there. EBay is maintaining their position since they are continuously improving to become better. When compared to amazon.com and other sites, eBay turned out to be far better since their expenses are low and doesnt hold any stocks like the others do. Creating New Markets Through Service Innovation For decades, since the evolution of internet, the importance of services has grown steadily to the global economy whereas the importance of goods has declined. Naturally, companies are constantly seeking to provide better services, regardless of whether they are in a pure service business or in a manufacturing industry that must increasingly rely on its service operations for continued profitability. However, most improvements to service activities are incremental. Stores stay open longer; producers establish websites with e-commerce functions; airlines, casinos and supermarket chains introduce loyalty card programs. These improvements are useful and indeed necessary, but their returns are somewhat limited. Only rarely does a company develop a service that creates an entirely new market reshaping the market providing company with unforeseen profits for a longer period of time. EBay is one of these rare companies. It has created new markets through its unique model of innovation. For example, in the online auction concept, eBay was not the first but it gradually became the dominant player. In the early 1980s, CompuServe (nee MicroNET) and The Source were sponsoring auctions. Specifically, Comp-U-Card Online/Comp-U-Store held weekly auctions for consumer goods like the brand-new Sony Walkman in 1983, and CompuServes first eBay-style automated online auctions were held in 1982. Due to limited use of the internet technologies and lack of awareness, these companies were not much success. Later when the trend changed, new technologies developed, and online business grew, eBay introduced its business totally focussed on service which led them to create successful new markets domestically and globally. Ansoffs growth matrix identifying opportunities for growth for eBay Current Products/ servicesNewProducts/ servicesCurrentMarketsNewMarkets 1. Market penetration strategy Attempt to get existing users to spend more 3. Product development strategy Wireless Develop sectors such as introduce car sales, boat, sales etc. Fixed-price shops Paypal: payment system Providing commission on sales 2. Market development strategy Attract new vendors such as large corporations Develop international sites in significant markets such as Germany, Japan 4. Diversification strategy Skype: VOIP Enabling communication among community EBay is one of the most successful e-commerce website in the World Wide Web. The strategic direction of the company is market penetration. The main aim of a market penetration strategy is to increase the market share by using the current products within the existing markets. This involved the actions and programs to be done in order to enhance the current core competencies or build a new one. In the case of e-Bay, the company focuses on improving the quality of their service in order to improve the reputation of the company compared to its direct and indirect competitors. EBay is focusing on the improvement of its service by using updated and high-tech Information System, which will help to improve the visitor log, improve the quality of service and the security and safety of its online users. Beside that EBay has continued to innovate and connect people. The most important points in their innovation are acquisitions of PayPal in 2002 an online financial service, and Skype in 2005 an internet communication company. With these acquisitions, EBay provides customers with the most convenient methods so that buyers can make low cost contact with sellers easily and make all transaction swiftly. Although there are several disputes that EBay is doing a real value chain, its characterization proofs that EBay performs a virtual value chain. It provides platform for trading on the internet in virtual market where it operates and the value of goods sold in this site is determined by auctioning of buyers. It performs as a self-regulating global economy. Lesson to a new internet business from eBay Figure from www.ebay.com On a normal e-commerce site, customer does some shopping, picks out one or more items, and heads to the checkout area as quickly as possible. But in eBay, members can do other thing than just buy or sell. They can Post feedback: In business, feedbacks are crucial and help the company to improve their mistakes. Here, both consumers and sellers can post their feedbacks in the forum describing their deal of the product. Communicate with others in message boards: Consumers such as Antique hunters, collectors, and bargain hunters like talking about their common interests. This leads them to meet and greet each other in the same spots on eBay, either in a weekly or prearranged chat, just to say hello and share opinions. Post secondary information: eBay sellers and buyers can create About Me pages to inform people about themselves. Sellers can open eBay Stores. This gets them personally involved with the sales they open this site not only for business but it has become part of their daily lives. In other words, loyalty, the desire of finding a bargain, and the love of making some extra money are what keep eBay users returning on a regular basis, which makes eBay a lovely and a successful venue. Its the human touch that means so much on the auction site. By implementing their business model, eBay employed three main tactics. First, they looked to build strategic partnerships. Second, they looked for customer feedback to constantly make changes and improvements. Finally, they monitored its internal and external environments for possible opportunities. By doing all of these sorts of things, eBay is being able to adapt to the changing ways and keeping their customers satisfied. To be successful eBay continue to mould and change their business model to satisfy its customers and keep the level of quality they employ to the highest degree as possible. eBay has created a one-stop-shopping experience that is appealing to large corporations, independent entrepreneurs, and individual buyers and sellers. They have created value through many facets of their business that appeal to their customers and differentiate them from the competition. The main ways that eBay differentiates themselves is through: Variety of products offered When customers visit eBay they can search for virtually any product. EBay boasts a category variety not matched by any competitor with over 27,000. The eBay Community EBay wants their customers to feel like they are a part of a community. This community feel gives customers the sense that they are branch of something and cared about. By showing the customers that their feedback, opinions, and feelings are important eBay has gained tremendous ground with their customers. The eBay Website EBay has created an auction and retail website that is unique and interesting. This creative site sets them apart from their competitors. The site is set up with many facets that reach a broad span of visiting buyers and sellers. The site is also entertaining and easy to use making it very appealing for online shopping and trading. The eBay Brand Name EBay was the creator of the online auction industry. When customers think of online buying the immediately think of eBay. This has given them a competitive advantage that sets them apart from other online auctions. eBays Global Reach The global reach of eBay is not achieved by any other online auction site. For large corporations international selling and buying is done everyday. Even for an individual buyer or seller, having the option of searching throughout 150 countries with a span of 94.9 million users is very appealing. Conclusion eBays compelling value proposition, their ability to create a new market using Internet technology, and their first-mover advantage, have been key factors that have contributed to the success of the brand, however, their ability to cultivate a distinct sense of community has been the defining characteristic which differentiates them from other online auctions. As a result, eBay attracts a broader selection of buyers, which in turn attracts more sellers the ultimate network effect contributing to its strong lead and competitive advantage. Their focus on heavy users and targeted promotions, have been instrumental in building a quality customer base, which has established eBay above other online auction communities. eBay has also faced difficult challenges in scaling the organisation fast enough, as they could not opt for a go slow strategy.

Shakespeares Macbeth - The Transformation of Macbeth and Lady Macbeth

The Transformation of Macbeth and Lady Macbeth      Ã‚   In the play Macbeth, by William Shakespeare, the characters  Macbeth and Lady Macbeth decide, in a great fit of ambition, to kill King Duncan.   Later in the play we see the same two characters undergo a transformation in their personalities after murdering the King.   Macbeth begins the play as a noble soldier and gradually changes into an ambitious and murdering tyrant.   Lady Macbeth begins as a strong, ambitious woman who dominates her husband and gradually changes into a weak and guilt-ridden woman.   This essay will explore the characters of Macbeth and Lady Macbeth before and after the murder of King Duncan. Macbeth begins the play as a noble and trustworthy soldier, with a placid and honest personality.   Unfortunately he is told three prophecies by three witches and it is these prophecies that gradually change Macbeth into a greedy, untrustworthy, ambitious tyrant.   Similarly, like Macbeth, Lady Macbeth is also overruled by her ambitious nature and not only encourages her husband to kill the king, but plans it herself.   Lady Macbeth begins as an ambitious, overpowering and domineering woman, particularly towards her husband.   Though as time passes we see Macbeth become domineering and unbearably ambitious, while Lady Macbeth becomes the lesser of the two and her guilt becomes too much to bear, hence leading her to death.   Macbeth is obviously gullible as he believes the witches after a while and relies on their prophecies constantly.   This changes not only his life, but also Lady Macbeth's life and the lives of those living in Scotland at the time.  Ã‚   However Macb eth and Lady Macbeth believe that the witches are good luck, this proving to be quite the opposite. ... ...on Shakespeare s Tragedies . A Course  Ã‚  Ã‚   of Lectures on Dramatic Art and Literature. London: AMS Press, Inc., 1965.  Ã‚   Shakespeare, William.   Tragedy of Macbeth . Ed. Barbara Mowat and Paul  Ã‚   Warstine. New York: Washington Press, 1992.  Ã‚  Ã‚   Steevens, George. Shakespeare, The Critical Heritage. Vol. 6. London:  Ã‚   Routledge & Kegan Paul, 1981.  Ã‚   T.W. Shakespeare, the Critical Heritage. Vol. 5. London: Routledge & Kegan  Ã‚   Paul, 1979.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Wills, Gary. Witches & Jesuits. Oxford: Oxford University Press, 1995.      Epstein, Norrie, The Friendly Shakepeare, New York, Viking Publishing, 1993. Harbage, Alfred, Macbeth, Middlesex England, Penguin Publishing, 1956. Magill, Masterplots- Volume 6, New Jersey, Salem Press, 1949. Staunten, Howard, The Complet Illustrated Shakespeare, New York, Park Lane Publishing, 1979.   

Case Study on Hr Planning Essay

It is the country†s best recognised energy brand. Centrica is a multinational company, with businesses in many countries. Centrica was formed in 1997 and consists of eight separate energy-related businesses, ranging from the supply of gas and electricity to consumers and organisations in the UK and Europe, to storage of gas for other providers, and drain and pipe work maintenance. The UK energy market is highly dynamic. Customers look for the best deals and are increasingly prepared to switch suppliers. In 2007, 900,000 customers switched energy providers. An energy company needs to show it is not just competitive on price, but that it can also provide the right levels of customer service to attract and retain customers. British Gas does not only supply gas but also deals with the installation and maintenance of domestic central heating and appliances. It provides a maintenance and breakdown service for electrical white goods and home wiring. Through the Dyno brand, British Gas also offers drain clearing services, plumbing and home security services. To deliver these services, British Gas needs high calibre staff. It employs more than 9,000 trained gas engineers to install and maintain central heating and gas appliances. This case study explores how British Gas manages the recruitment and selection of new employees. Page 2:  The role of human resource management Managing a successful large business involves acquiring, developing and maintaining a wide range of resources. These resources include materials, buildings, land, equipment, technology and, crucially, people. Any organisation needs good employees who have the right skills to achieve the company†s aims and objectives. Human resource management (HRM) is the business function that focuses on the people aspects of an organisation. It ensures the efficient management of people in the business. It is responsible for ensuring that an organisation has the right people to deliver its overall business plan. Meeting customer needs Centrica, the parent corporation of British Gas, has to deliver long term profitability. Its shareholders expect the business to show a return on their investment by making profits, now and in the future. British Gas needs to contribute to these profits. This means consistently meeting the needs of its customers with competitively priced products and services that give good returns to the company. Residential consumers across the country are the core customer base of British Gas. These customers expect top-class service at keen prices. If British Gas does not meet this standard, the company may lose business to competitors. To ensure customer satisfaction, British Gas engineers must have the technical skills to undertake work to the required standard and the people skills to deliver good customer service. Through its engineer recruitment team, the British Gas Academy must therefore ensure that the company attracts and retains the best engineers. This involves several complementary tasks. It requires planning to assess the future needs for skilled employees at British Gas. It requires a recruitment and selection programme to bring new people into the business. It requires a training operation to equip new recruits and existing employees with the right skills. Retaining people Importantly, British Gas must also ensure that it retains its best people. It is much more cost effective to retain trained and highly skilled staff than recruit and train up new people. British Gas seeks to retain people by offering a mix of financial and non-financial benefits. As well as good pay and a pension scheme, the company provides employees with the opportunity to buy shares in Centrica and it offers a great place to work and high-class training. Page 3:  Training As an expanding business, British Gas needed to increase its workforce to meet customer demand. At the end of 2002, British Gas established the British Gas Academy. The Academy has helped to develop and refocus training facilities to handle the extra training requirement in recruiting an additional 5,000 employees into the engineering workforce. * British Gas runs an intensive apprenticeship programme. This is delivered in training centres. Trainees should expect to qualify by year five. All domestic gas engineers become fully acquainted with the latest computer-aided diagnostic technology. There are also traineeships, which provide a way for new recruits to learn about the gas industry and gain relevant skills and qualifications. British Gas provides technical training for all its engineers throughout their careers. This ensures that its employees are kept up-to-date with new information and technologies to enable them to provide the best service possible. Training does not simply focus on technical skills and knowledge. Most employees have direct contact with customers, so it is important that they have good people skills. Awareness training is provided for employees across British Gas through an online learning package. Another programme is improving staff†s cultural awareness, particularly to support the growing international operations at British Gas. Page 4:  Workforce planning Workforce planning is the process of assessing a company†s current and future labour needs. The British Gas Academies must consider not just overall employee numbers but also the skills that will be required within the business. Workforce planning also involves managing any training and recruitment process to ensure the organisation has the right staff in place. Managers at British Gas conduct a programme of forecasting to predict how much the UK market for domestic gas engineering services will grow. This helps the company decide how many additional engineers it will need in the future. British Gas makes detailed forecasts of its demand for engineering personnel for one year in advance and makes more general estimates for a further two years into the future. Factors affecting workforce planning At British Gas, workforce requirements are driven by two different demands. First, there are contract customers that have service agreements with the company. Second, there are customers who call for one-off assistance if they have a specific problem. Demand for both these services has grown. In the last three or four years, the need for engineers has expanded accordingly. This has meant that it has had to recruit more staff. There are several other factors that influence workforce planning for British Gas. Engineering skills need to be constantly updated. Health and safety issues are also critically important in the gas industry. Health and safety regulations are changing all the time and EU regulations must also be considered. Apart from regular formal training to close skills gaps to ensure engineers stay up to date with technical matters, British Gas can alert engineers about technical changes via field radio or text messaging. Engineers can work all their careers in the field until they retire. Qualified engineers may spend up to 10 years gaining their skills, qualifications and experience. They have valued practical skills that are needed to deal with equipment and customers. However, British Gas also needs suitable people for promotion to higher roles, such as management jobs. It needs managers to plan, organise and co-ordinate the teams of engineers. It therefore needs to attract and recruit a wide range of people into the organisation. Page 5:  Recruitment As part of its workforce planning, British Gas implements a diversity and inclusion strategy using tailored action plans. This means it actively seeks new recruits from a wide range of backgrounds. The need to recruit a diverse engineering workforce is seen as critical by British Gas. It plans recruitment to ensure it has a socially inclusive workforce. This is important as it will enable British Gas to reflect the diversity of its customer base. For example, it is useful to have employees from different nationalities and backgrounds to communicate with customers that do not speak English as a first language. Recruiting more women engineers may help to attract female customers. British Gas has won a national award from the Council for Registered Gas Installers (CORGI) for its efforts to encourage and attract women into the engineering workforce and into plumbing and associated trades. To dispel the myth that only men can be good engineers, British Gas runs a Georgina and the Dragon campaign for children. What British Gas’ recruitment programmes  have achieved  is demonstrated by various awards during 2009: * British Gas  won awards from the Local Employment Partnership in the East Midlands. The awards for â€Å"Unlocking Talent†Ã‚  and the  Ã¢â‚¬Å"Outstanding LEP Achievement Award†Ã‚  recognise  the company’s recruitment work with the LEP and Jobcentre Plus in the region. * British Gas has been named in the 2009  Sunday Times’s 20 Best Big Companies to Work For. * The British Gas Academy won an award from Women into Science and Engineering (WISE). The award – Investor in WISE  Ã¢â‚¬â€œ rewarded the efforts British Gas makes  to promote science,  engineering and construction  to girls and young women. Advertising British Gas tries to appeal to a varied and diverse audience when promoting its apprenticeships. To advertise opportunities widely, British Gas uses specialist Sky channels like Parliamentary Projects TV, which focuses on careers, and Passion TV, which is aimed at the black community. In print media, it uses women’s magazines, publications targeted at ethnic minorities such as The Muslim Weekly as well as other careers directories for the same reason. Other channels include radio, newspapers,  British Gas website  (www. britishgasacademy. co. uk) and a DVD for schools. Recruiting gas engineers of the right level is important. Candidates for a British Gas apprenticeship must be at least 16 years old, and have a minimum of four GCSEs at grade C or above or equivalent (e. g. NVQs). However, they need more than academic qualifications, they must be able to show some aptitude for customer service, such as being able to listen to customers and understand their requirements. Application British Gas uses an online application form. To help British Gas decide an applicant’s suitability, this includes a value-based questionnaire. This requires responses to a series of statements about attitudes to work. There are 90 statements in all, and an applicant’s overall responses are rated green, amber or red. The colour reflects the attitudes the applicant has about work and people. This helps to show which roles a person is best suited to. British Gas does not take applicants with red ratings further as they may not show a ‘fit’ with the company requirements. However after an initial screening, green and amber applicants are invited to an interview and assessment centre for the final selection process. Here, candidates must show evidence of qualifications, ID and driving licence. Page 6:  Selection At the British Gas assessment centre the emphasis is very much upon ‘core competencies’ and ‘life skills’. Life skills are personal skills that are likely to affect the customer experience when someone is working in the field. British Gas engineers needs to show courtesy and politeness, for example. These are personal qualities that have a direct impact upon customer perception. Core competencies involve team working, interpersonal skills (such as dealing with people), motivation and responding to change. These are crucial skills that can affect the way an individual fits in and works within an organisation. Candidates attend the centre for a half-day assessment. This has three elements. The total scores from the three-part assessment help British Gas to decide who receives a job offer. Candidates are notified of the outcome within 14 days. All candidates can receive feedback. For those candidates offered a job, British Gas provides the usual job benefits including a van from the outset and a competitive starting salary. The new recruits then go on to benefit from the comprehensive programme of training through its Academy. This ensures that they are given the best start in their new careers. It also builds employee motivation and commitment to the company. Recruiting and selecting staff is an expensive process. By following a robust selection programme in this way, British Gas is able to ensure it gets the right people with the right skills. It also means it maximises the benefit from its investment. Page 7:  Conclusion Recruitment and selection at British Gas is driven by the need to maintain the competitive position of the company within the energy market. Domestic gas customers demand the very highest standards of service. They can be assured that British Gas engineers have high-level skills and expertise through its careful specification of entry qualifications followed by top quality training. British Gas also assesses the personal attributes of staff through role play and questionnaires as these influence customers’ perceptions of the service and the company. Great care is taken in determining the organisation’s future staffing needs. This drives the recruitment and selection process to ensure British Gas is seen as offering dynamic and exciting career paths for people of all backgrounds. By developing and nurturing its people, British Gas ensures that new recruits have the right qualities to help the business to compete.

s First Dialogue

Berkeley’s First Dialogue is one of the three dialogues between Hylas and Philonous, in opposition to skeptics and atheists. The dialogue commences with an unexpected meeting between Philonous and Hylas. Philonous comments that he is surprised to see Hylas in the garden, so Hylas replies that he is there because he could not sleep. The reason for this being that he had a problem which could only be cured with nature’s sensational beauty. His problem was of â€Å"considering the odd fate of those men who have in all ages, through an affectation of being distinguished from the vulgar, or some unaccountable turn of thought, pretended either to believe nothing at all, or to believe the most extravagant things in the world† (Philosophic Classics, 653). In addressing Hylas’s burden, Philonous sought to prove his own â€Å"absurdity,† maintaining that â€Å"no such thing as material substance [exists] in the world† as a rational deduction. After a series of rational conundrums leading to the glorification of his philosophic theory, Philonous continues his discourse: But, for your farther satisfaction, take this along with you: that which at other times seems sweet, shall, to a distempered palate, appear bitter. And, nothing can be plainer than that divers persons perceive different tastes in the same food; since that which one man delights in, another abhors. And how could this be, if the taste was something really inherent in the food?† (659) The above quotation basically means that â€Å"one man’s trash is another man’s treasure.† Philonous’ (Berkeley’s) view (of pleasure and pain) is especially reasonable, for it is a universal clichà © that is still be applied to modern man. Pleasure and pain are two different emotions or sensations, yet they are one and the same. One man might derive pleasure through seeking bloody revenge, while another man may mourn the death of his beloved comrade. â€Å"Warmth is as great a pleasure as h... 's First Dialogue Free Essays on Berkeley\'s First Dialogue Berkeley’s First Dialogue is one of the three dialogues between Hylas and Philonous, in opposition to skeptics and atheists. The dialogue commences with an unexpected meeting between Philonous and Hylas. Philonous comments that he is surprised to see Hylas in the garden, so Hylas replies that he is there because he could not sleep. The reason for this being that he had a problem which could only be cured with nature’s sensational beauty. His problem was of â€Å"considering the odd fate of those men who have in all ages, through an affectation of being distinguished from the vulgar, or some unaccountable turn of thought, pretended either to believe nothing at all, or to believe the most extravagant things in the world† (Philosophic Classics, 653). In addressing Hylas’s burden, Philonous sought to prove his own â€Å"absurdity,† maintaining that â€Å"no such thing as material substance [exists] in the world† as a rational deduction. After a series of rational conundrums leading to the glorification of his philosophic theory, Philonous continues his discourse: But, for your farther satisfaction, take this along with you: that which at other times seems sweet, shall, to a distempered palate, appear bitter. And, nothing can be plainer than that divers persons perceive different tastes in the same food; since that which one man delights in, another abhors. And how could this be, if the taste was something really inherent in the food?† (659) The above quotation basically means that â€Å"one man’s trash is another man’s treasure.† Philonous’ (Berkeley’s) view (of pleasure and pain) is especially reasonable, for it is a universal clichà © that is still be applied to modern man. Pleasure and pain are two different emotions or sensations, yet they are one and the same. One man might derive pleasure through seeking bloody revenge, while another man may mourn the death of his beloved comrade. â€Å"Warmth is as great a pleasure as h...

Jennie Phan Essays

Jennie Phan Essays Jennie Phan Paper Jennie Phan Paper Board Essay Task Mark could never imagine that this telephone call could change his life forever. â€Å"Whenever I think about what happened, I always think that it is a miracle that changed my life. It’s like my accidental destiny! † Mark said. Twenty years ago, when Mark was a twenty-five-year-old man, he was still living in a garret of one of the oldest building in New York City. He used to work as an effective worker of a small chocolate factory. He specialized in making the confectionery from chocolate and cocoa. He then quit his job because of his dissatisfaction with the treatment of the manager and the poor condition of working there. He was unemployed for the time being and lived on very little. However, he still continued carrying out experiments to find and create some new flavours of candy with the help of his closest friend Annie – a professor of chemistry in Boston University. They cooperated with each other in developing some flavours of the confectionery. Contrary to Mark’s expectation, it did not worked out as they were having many trouble with finding such an excellent flavor that could attract the producers. One day, as usual, Mark sat on his desk and started working. Ten days had passed but his research still went nowhere. Suddenly, an idea crossed his mind. He immediately stood up, ran to his â€Å"laboratory† – a large space near the corner of the room where he used to do experiments – and then spent a whole day in there. It was not until the nightfall that he stopped to find something to eat and right after that, he came back to work again. After many hours conducting experiments, he finally felt an incredible sense of relief. With a new research on his hands, Mark went towards the telephone and made a phone call to Annie. He hurriedly dialed her telephone. Mark was so excited that he spoke right after the receiver had picked the phone up. Hi Ann! I know that it is very late now but I really want to tell you an important thing. † Mark went to the point â€Å"I have just found a new flavor of candy. I’m sure that you will be surprised a lot when you taste it. It is very strange but simple as well. Do you ever think about making chocolates with aromatic wine inside? Of course we just use a little amount of wine to make the chocolate smell attractive and tasty. We also can add a few cashew nuts along with almond, a little milk and button in the chocolate candy. I’ve just tried and I think it is perfectly wonderful! You should try once†¦Ã¢â‚¬  Mark talked a blue streak. After that, Mark stopped to wait for the reaction of his partner. The receiver was silent for nearly a minute and then suddenly exclaimed: â€Å" Oh! It’s extremely amazing! Why have I never thought about it before? You are truly a genius! † Mark was very surprised as the voice he had just heard did not belong to Annie. It belonged to another man. He realized that he had accidentally dialed the wrong number and worse, he had just told a stranger his biggest invention. â€Å"Who are you? † Mark worriedly asked. â€Å"Oh! I’m so sorry for my rudeness. † The stranger said â€Å" My name is Steven Springfield. I’m the CEO of ChocoChips Company. Can I have your name? † Mark was so surprised that he could not speak a word. He could not believe his ears. ChocoChips Company was one of the biggest companies in the world where they specialized in producing the confectionery. Mark had known Mr. Springfield and his company since he was ten and he had been always dreaming of working in there and becoming a person like him. â€Å"Hi†¦ My name is†¦ Mark†¦ Mark Potter. Nice to meet you, Mr. Springfield. †. â€Å" Nice to meet you, Mr. Potter. I am surprised a lot when I listen to what you said. I really like your ideal. It is incredible! And if you don’t mind, I want to copyright it. I will pay it at any cost. What do you think about my request? Or may I meet you some time? We can talk carefully about it. † said Mr. Springfield. â€Å"That’s a great idea. I will be free tomorrow. We can meet tomorrow morning. Is it good for you? †. â€Å"Certainly, please come to my office any time you want. I will wait for you. You know its address, don’t you†. â€Å"Yes, I do† Mark said â€Å"I will meet you at 8 a. m. † The next day, Mark came to ChocoChips Company to meet Mr. Springfield. They had a long conversation. Not only Mr. Springfield but also all of the other board members of the company were very impressed by Mark’s idea. As a result, he was employed and in charge of product development. Since then, his life has changed completely. By his excellent abilities, Mark made the board, especially the CEO, feels so satisfied with his work. He has created many excellent flavours of the confectionery which have been loved by children all over the world. The sales of the company has raised a lot accordingly. Within ten years, he got a lot of promotions and became a very famous man. Mark is not a poor unemployed man anymore. He now is the CEO of ChocoChips Company. He took over from the previous one – Mr. Springfield – after his retirement. He has moved to live in an extremely luxurious apartment in Manhattan, New York. Many people want to be like Mark Potter. He is praised for his succession and his great career. Somebody even said that Mark had changed the face of the confectionery industry of the USA. However, whenever Mark was asked about his secret of succession, he just says: â€Å"If it had not been for that accidentally wrong call, I would not have had the career like I have today. That phone call did change my life forever! †

Dear Mrs. Ghosson Essay Example | Topics and Well Written Essays - 1000 words

Dear Mrs. Ghosson - Essay Example Our main concern is the registration of Xella at the Kuwait Stock Exchange. The registration process has not been completed since November although all documents have been provided by us in time. We are very concerned as to when the registration will be completed. You will kindly recall that the registration was a precondition for further dealings between us. Our experience in the past on similar projects has been that the 'as-built' situation sometimes differs from the drawings. This happens due to constraints on the site which were not foreseen while preparing the drawings and the drawings were not updated. These differences can lead to major complications during erection. Therefore, two of our engineers will visit the site in Taiwan next week to check the actual as-built situation against the drawings supplied by them. We had some misunderstanding with our contractual partner in Taiwan and had to postpone this site visit several times. Despite confirming to us that all required drawings have been sent it is only now that the drawings are adequate for preparation of final drawings. The general layout, equipment arrangement drawings and floor plans are 90% ready. If our engineers find the as-built situation to be very close to the drawings, and no major alterations are required we shall be able to send the drawings by the 9th December, 2005. If changes are required we shall send the drawings a couple of days later. During their visit to Taiwan our engineers will also discuss, in detail, the dismantling of the equipment and its transport to Kuwait. Thereafter the dismantling program will be executed jointly with our contractual partner on site. The goal, of course, is to adhere to the scheduled key dates for delivery. We are very sorry for the situation which has arisen due to factors totally beyond our control and assure you that we will make all efforts to ensure that the project schedule remains unchanged. Best regards Olaf Michelswirth Deputy General Manager *************************************************************** Intercem Engineering GmbH Simmeriss 59302 Oelde Germany Tel. 0049 2522 920 58 14 Fax. 0049 2522 920 58 20 Mobile 0049 170 73 41 275 Email O.Michelswirth@intercem.de *****************

The Alternative Solutions for Emerson Ross and Partners Essay

The Alternative Solutions for Emerson Ross and Partners - Essay Example Other alternates pertain to employing motivational programs to reduce employee turnover and increasing their commitment to the company. Employee empowerment and an evaluation of the company resulting in the organizational change has also been suggested. Â  The recommended solution that best solves the problem faced by the company is that of organizational change and the implementation of increased communication, collaborative decision making, and employee empowerment programs. The specific strategies for implantation of these programs have been provided. Â  The Emerson Ross and Partners is primarily a partnership which has been operating in the industrial design industry. The company was initiated by its two main partners Peter Emerson and Andrew Ross. However, over the period of years, the company has grown considerably which has resulted in more partners being inducted and the expansion of the scale of operations of the company in different regions of Australia. Lately, the company has been facing major problems which are creating obstacles for the company in terms of its competitiveness in the market and the future growth of the company. Â  The problems that have been identified through the case analysis pertain to control and communication issues. The two partners Emerson and Ross have been running the business for a long time and find it hard to trust the other partners to be able to run the company on their own.