Selection of a Case study organization (Attempt 1) Assignment

Selection of a Case study organization (Attempt 1) - Assignment Example From the very bottom line costs to the increases in service speed and reliability that deliver greater value to organizations and their customers, innovation actually stands at the epicenter of the strategic approaches adopted towards success in the 21st century. Bolstered by the rapid changes in the market structure that powers competition from almost every corner of the globe, organizational emphasis on external as well as internal collaboration as a gateway in accessing the right mechanisms of expediting the incorporation of new ideas is fundamental in leveling the playing field with larger competitors and the numerous aggressive startups. Amway, a direct-selling, family-run organization headquartered in Ada, Michigan, is a perfect sample organization that has grown from a lean structure to operationalize its services in 100 countries courtesy of the numerous radical shifts of strategy that brings on board â€Å"consumer needs, technology and business value† in their search for competitive advantage over the years since inception. A multi-level marketing company with over five decades in business, Amway has built numerous brands within its core product categories [nutrition, beauty, and home], managing to increase its annual revenues from a modest base to a whopping $11.3 billion in the financial year 2012 (APQC, 2013). At the heart of the company’s growth momentum is an innovation culture summarized as 5x5s; a â€Å"five minutes—five slide† presentation for all to showcase ideas for evaluation and further pursuit. Using an Open Innovation Business Model that majorly sources ideas from the external networks, Amway wields a great deal of freedom in pursuing powerful innovations that only serve to propel its strategic needs. The organization long recognized that it does not command as much resources as its forerunner-competitors in the industry, and thus devoted its

The Cyber Shop and Direct Marketing Essay Example for Free

The Cyber Shop and Direct Marketing Essay With the never-ending possibilities of new inventions and innovations in the field of communication technology, much is expected in the future especially in the ever-increasing complex needs of clients and customers of different social segment from service and product providers (Appelbaum et al, 1998). The complex and demanding needs of the information age man will push creative and intellectual minds to continue their quest of improving the available convenient lifestyle of man. As the Vice President of the company, it would be best to choose the direct marketing strategy of Dell Computer because their model excellently illustrates the CSDM business transaction system as a direct marketing company, without distributors or agents that markets its products through the cyber shop. The Cyber Shop and Direct Marketing (CSDM) is a designed virtual trading system operation for the simultaneous practice of operating business transactions via cyber shop and direct marketing. It operates by combining the actual sales through the Cyber Shop and the logistic system through the Direct Marketing. The company will implement a virtual operating system that is directly employed and utilized by other companies like Dell Inc in the transaction mode of the company (Burnes, 1996). In using this model, customers purchase a product unit through the website by using direct online orders and purchases and enjoy the delivery services offered by the company. CSDM is different from that of the traditional purchase system flow wherein customers could not reach the source company directly. Direct reaction and simplified purchase for consumer, direct sell, direct service, and direct support from vendor; these are just a few of the common terms and concepts linked with cyber shop business transaction and direct marketing strategy in the advances in communication technology.

International business Policy

International business Policy INTERNATIONAL BUSINESS POLICY Question: Porters note that â€Å"firms, not individual nation , compete in international market†. How does this statement help to explain some of the major challenges facing MNEs? How do the determinants of national competitive advantage help explain how companies can maintain their economic competitiveness? Answer: International business is a exchanging goods and services , conducted between individuals and businesses in multiple countries. Historically, international business activity first took the form of exporting and importing. Exporting is the selling of product ,goods or services supplied from ones own country for use in other countries . Importing is the buying of products ,goods or services made in other countries for use in ones own country. Exporting and importing activities are often divided into two groups. first, trade in goods ,that is, tangible product such as clothing, computers , and raw materials. Second, Trade in services, that is ,intangible products such as banking , travel and accounting activities http://www.businessdictionary.com/definition/international-business.html International business activity can also take others forms . * Licensing * Franchising * Management contract * International business Licensing is a contractual arrangement In which a firm in one country licenses the use of its intellectual property for e.g. patents, trademark, brand name , copyrights or trade secrets to a firm in a second country in return for a royalty payment Franchising , a specialized form of licensing ,occurs when a firm in one country authorized a firm in a second country to utilize its operating system s as well as its brand name ,trademarks , and logos in return for a royalty payment. For example , McDonalds corporation franchise its fast food restaurant world wide . A Management contract is an arrangement wherein a firm is one country agrees to operate facilities or provide other management services to a firm in another countries for agreed upon fees. For example hotel industries. International business as any organization that engages in a cross-border commercial transaction with individuals ,private firms or public sector organization A firm is a commercial partnership of two or more person , especially, when unincorporated. Also the name or designation under which a company transacts business. Any business , sole proprietorship, partnership or a corporation The term multinational entrepreneurs is used to identify firms that have extensive involvement in international business. An another definition of multinational corporation is a firm that â€Å"engaged in foreign direct investment an owns and controls value-adding activities in more than one country† MNEs generally coordinate their activities from a central headquarters but may also allow their affiliates or subsidiaries in foreign markets considerable latitude in adjusting their operation to local circumstances. Some MNEs , such as accounting partnership and Lloyds of London, are not true corporation, Some writers distinguish between multinational corporations and multinational enterprises . Further , not for profit organization ,such as the IOC and the International red cross , are not true enterprises ,so the term multinational organization can be used when one wants to refer to both for not for profit-seeking organization. Because of the common use of multinational corpora tion in the business press, however , Multinational enterprises facing a major challenges , Some of them are as under: †¢ Economics and Currency conversion †¢ Legal systems or Types of system †¢ Culture †¢ Availability of resources †¢ Market withdrawal Government policy †¢ Political legal environment and Government Power In a domestic business strategy, a single country at a specified level of Economic development in a focus of the firms entrepreneurial efforts. The entire country is almost always organized as a single economic system and has the same currency. Creating a business for a multicounty are means dealing with differences in level of economic development, currency valuation government regulation and banking, venture capital and marketing system. One of the biggest problems entrepreneurs have is raising capital. The amount of private equity capital investment varies greatly by the area of the world, and the amount available is significantly less elsewhere than the united state. In addition, the countries may use different currencies, forcing at least one party to convert its currency for another. So MNEs face currency exchange problem. The legal systems may vary or even be in compatible. In different countries used there own system of business. Like many such barter system or third party ar rangement have been used to increase the amount of business activity of the former U.S.S.R. and Eastern and central European countries, as well as other countries in various stages of development and transition .The cultures may differ and the resources may vary. Culture is encompasses a wide variety of elements ,including a language, social situation, religions ,political philosophy, economic philosophy education, and manners and customs. The availability of resources ,For example, one country may be rich in natural resources, but poor in skilled labor. Also e.g. U K, U S A , AND CANADA are well developed in technologically than developing countries like Africa , India, Pakistan Still, the basic skills and knowledge needed to be successful are generally similar whether one is doing business domestically or internationally. Tax competition countries and sometimes sub national regions must compete against each other for the establishment of MNEs facilitates, and the subsequent Tax revenue- a tax is a financial charge upon an individual or legal entity by a state such that failure to pay is punishable by law, employment ,and economic activity. To compete, countries and regional political districts sometimes offer Incentives is a any financial or non-financial factor that motivate a particular course of work to MNEs such as tax breaks, pledges of government assistance or glowed infrastructure and labor standards enforcement. Foreign direct Investment Foreign direct investment made for the purpose of actively controlling property ,assets or companies located in host countries, such as factories, building, machinery, land and mines, grow up of foreign direct investment can be used as one of improvement of economic globalization. Map below show net inflow of foreign direct investment as a percentage of gros s domestic product. The big flows of foreign direct investment occurs between the industrialized countries like, western Europe and Japan, North America. But flow to non-industrialized countries are grows up sharply. Market withdrawal-government policy- Multinational enterprises having a significant impact on government policy because of its size, basically through the threat of market withdrawal, for example , in order to reduce healthcare costs, some countries have tried to force pharmaceutical companies to license their patented drugs to local competitors for a very low fee, so automatically lowering the price ,when faced with the threats multinational pharmaceutical firm have simply withdrawn from the market. Political-legal environment- the multiplicity of political and legal environments in the international market creates vastly different business problem, opening some market opportunities for entrepreneurs and eliminating others. for example , U S environmental standards have eliminated the possibility of entrepreneur establishing ventures to imports several models of Europeans cars. It also involves the price fluctuations and significant increases in oil and other energy products in the last few years. http://en.wikipedia.org/wiki/Multinational_corporation Determinants of nation competitive advantages Michael Porter tried to explain why a nation achieves international success in a particular industry and identified four attributes that promote or impede the creation of competitive advantage: Factor endowments Demand conditions Relating and supporting industries Firm strategy, structure, and rivalry Factor endowments refer to a nations position in factors of production necessary to compete in a given industry. A nations position in factors of production can lead to competitive advantage. These factors can be either basic (natural resources, climate, location) or advanced .(skilled labor, infrastructure, technological know-how) Demand conditions refer to the nature of home demand for the industrys product or service. The nature of home demand for the industrys product or service influences the development of capabilities. Sophisticated and demanding customers pressure firms to be competitive. Relating and supporting industries refer to the presence or absence of supplier industries and related industries that are internationally competitive. The presence supplier industries and related industries that are internationally competitive can spill over and contribute to other industries. Successful industries tend to be grouped in clusters in countries having world class manufacturers of semi-conductor processing equipment can lead to (and be a result of having) a competitive semi-conductor industry Firm strategy, structure, and rivalry refers to the conditions governing how companies are created, organized, and managed, and the nature of domestic rivalry The conditions in the nation governing how companies are created, organized, and managed, and the nature of domestic rivalry impacts firm competitiveness. Different management ideologies affect the development of national competitive advantage Vigorous domestic rivalry creates pressures to innovate, to improve quality, to reduce costs, and to invest in upgrading advanced features Government policy can: affect demand through product standards influence rivalry through regulation and antitrust laws impact the availability of highly educated workers and advanced transportation infrastructure. The four attributes, government policy, and chance work as a reinforcing system, complementing each other and in combination creating the conditions appropriate for competitive advantage

Gang membership, Drug Selling, and Violence in Neighborhood Context Ess

Smiley is a man who was released back into the society on a parole. He was sent back to live in his neighborhood. Shinichi Suzuki, a famous Japanese violinist who invented Suzuki Method, got the right idea of Smiley’s situation when he said â€Å"Man is a child of his environment†. It means that Smiley is a product of his environment. His neighborhood is a no picnic. The neighborhood is a basically a graveyard of American dreams. Like everyone else in America, Smiley values individualism, achievement, money, and family unity highly. However he is in a hostile society where his rough background is rejected and regarded as a stigma. He does not have education or an escape from his neighborhood where people are under a great strain. The reason for the strain is because American culture sets the bar for gold standards of an ideal lifestyle that in the reality that social structures in some groups cannot follow (Shelden, Brown, Miller, & Fitzler, 2008). According to strain theory, Smiley’s neighbors all want same things but they cannot get them legally so they decide to find illegal loopholes. They go in this state that Robert Merton would call anomie (Shelden, Brown, Miller & Fritzler, 2008). According to him, the state is when â€Å"social structures exert a definite pressure upon certain persons in the society to engage in nonconforming rather than conforming conduct† ( p.78). A gang in Smiley’s neighborhood pressures Smiley into practicing norms that are considered unacceptable legally . Smiley’s gang approves stealing, violence, abuse of drugs, and organized crimes. Smiley had to adapt by conforming to the gang’s values, follow ritualism like wearing certain colors and speaking gang jargon, and view the world as us ( gang) against them.... ..., T. (2009). Gang membership, drug selling, and violence in neighborhood context. Justice Quarterly, 26(4), 645-669. Opsal, T. (2009). Women on parole: Understanding the impact of surveillance. Women & Criminal Justice, 19(4), 306-328. Shelden, R.G., Brown, W.B., Miller, K.S., & Fritzler, R.B. (2008). Crime and criminal justice in american society. Long Grove, Illinosis: Waveland Press, INC. Stickels, J. (2007). The game of probation. Journal of Police and Criminal Psychology, 22(1), 33-43. Wilkinson, D.L. (2007). Local Social Ties and Willingness to Intervene: Textured Views Among Violent Urban Youth of Neighborhood Social Control Dynamics and Situations. Justice Quarterly : JQ, 24(2), 185-220. (Document ID: 1295281001). http://ezproxy.rit.edu/login?url=http://proquest.umi.com.ezproxy.rit.edu/pqdweb?did=1295281001&Fmt=7&clientId=3589&RQT=309&VName=PQD

A visit to the art institute of chicago museum

On South Michigan Avenue, stands the Art Institute of Chicago Museum. One of the first things that I noticed and one problem that I encountered is that The Art Institute of Chicago does not have its own parking lot. Good thing there are public garages nearby.   Ã‚  Ã‚  Ã‚  The Art Institute has an â€Å"H† shape, if one will imagine from a bird’s-eye-view.   It is a three-storey building housing work spaces, study rooms, auditoriums and enclosed galleries. But what will truly stand out are its vast collections of paintings, sculptures, photographs, videos, textiles, and architectural drawings. (The Art Institute of Chicago 2005). I was simply impressed with the exhibits. I marveled at the extensive and interesting collections there. As evident on the other people’s reactions, I think they felt the same way. Different reactions and moods were elicited from each of the art pieces. The exhibit about the Icons of Divinity from South and Southeast Asia caught my interest. This focused mainly on the art of the Hindus and Buddhists. The images display complex ideas about divinity. And it is always appealing to learn about the art of other cultures. Another is the exhibit featuring the different treatments in the works of Harry Callahan, a photographer. (The Art Institute of Chicago 2005). The ‘Portrait of Cardinal Zelada’ by Anton Raffael, for me, presents the subject as someone dignified and regal. Emphasis is given on the position of the subject, sitting upright. The eyes and the small smile forming on the subject’s lips may also signify the graciousness of the subject. The artist may be portraying the righteousness and the nobility of the cardinal. I would also probably choose Anton Raffael to do my portrait. I would like my natural traits to be showed in the portrait, with more emphasis on the good characteristics. ‘Day of the Gods’ by Paul Gauguin and ‘Charity’ by Francesco de Mura both depict female nudes. Gauguin’s work has more eroticism in it than that of de Mura’s. That is because ‘Day of the Gods’ puts more emphasis on the physical beauty of the female, a Tahitian female in particular, than the other work. De Mura’s ‘Charity’, on the other hand, seems to dwell on motherhood and motherly love, thus, less erotic. I think the impact of eroticism is that it makes the visuals more attractive. Most people admire the physical beauty of the woman. Depicting and emphasizing that in the painting will draw more people into looking and appreciating the work of art. And lastly is the seascape, ‘The Beach at Sainte-Adresse’ by Claude Monet. The painting seems to express melancholy. Elements that point to such are the muted colors, the couple seated on the beach watching a regatta sail away, the coarse texture of the sand and the density and grayness of the sky. (The Art Institute of Chicago 2005) Even if only one of these parts is to be deleted, the message of the painting is not as full anymore. For instance, if the colors of the sky are changed into brighter hues, the painting won’t be so gloomy anymore. Or if the silhouettes of the sailboats are rubbed out of the painting, it won’t seem as though many people are sailing away. This just proves that all the elements in a painting contribute to the desired effect that an artist wants to show. Work Cited: 2005. The Art Institute of Chicago. http://www.artic.edu (accessed August 1,2006).      

How and Why Guinea Pigs Were Domesticated

How and Why Guinea Pigs Were Domesticated Guinea pigs (Cavia porcellus) are small rodents raised in the South American Andes mountains not as friendly pets, but primarily for dinner. Called cuys, they reproduce rapidly and have large litters. Today guinea pig feasts are connected with religious ceremonies throughout South America, including feasts associated with Christmas, Easter, Carnival, and Corpus Christi. Modern domesticated adult Andean guinea pigs range from eight to eleven inches long and weigh between one and two pounds. They live in harems, approximately one male to seven females. Litters are generally three to four pups, and sometimes as many as eight; the gestation period is three months. Their lifespan is between five and seven years. Domestication Date and Location Guinea pigs were domesticated from the wild cavy (most likely Cavia tschudii, although some scholars suggest Cavia aperea), found today in the western (C. tschudii) or central (C. aperea) Andes. Scholars believe that domestication occurred between 5,000 and 7,000 years ago, in the Andes. Changes identified as the effects of domestication are increased body size and litter size, changes in behavior and hair coloration. Cuys are naturally gray, domesticated cuys have multicolored or white hair. Keeping Guinea Pigs in the Andes Since both wild and domestic forms of guinea pigs can be studied in a laboratory, behavioral studies of the differences have been completed. Differences between wild and domestic guinea pigs are in some part behavioral and part physical. Wild cuys are smaller and more aggressive  Ã¢â‚¬â€¹and pay more attention to their local environment than domestic ones and wild male cuys do not tolerate each other and live in harems with one male and several females. Domestic guinea pigs are larger and more tolerant of multi-male groups, and exhibit increased levels of social grooming of one another and increased courtship behavior. In traditional Andean households, cuys were (and are) kept indoors but not always in cages; a high stone sill at the entrance of a room keeps cuys from escaping. Some households built special rooms or cubby holes for cuys, or more typically keep them in the kitchens. Most Andean households kept at least 20 cuys; at that level, using a balanced feeding system, Andean families could produce at least 12 pounds of meat per month without decreasing their flock. Guinea pigs were fed barley and kitchen scraps of vegetables, and the residue from making chicha (maize) beer. Cuys were valued in folk medicines and its entrails were used to divine human illness. Subcutaneous fat from the guinea pig was used as a general salve. Archaeology and the Guinea Pig The first archaeological evidence of the human use of guinea pigs dates to about 9,000 years ago. They may have been domesticated as early as 5,000 BC, probably in the Andes of Ecuador; archaeologists have recovered burned bones and bones with cut marks from midden deposits beginning about that time. By 2500 BC, at sites such as the Temple of the Crossed Hands at Kotosh and at Chavin de Huantar, cuy remains are associated with ritual behaviors. Cuy effigy pots were made by the Moche (circa AD 500-1000). Naturally mummified cuys have been recovered from the Nasca site of Cahuachi and the late prehispanic site of Lo Demas. A cache of 23 well-preserved individuals was discovered at Cahuachi; guinea pig pens were identified at the Chimu site of Chan Chan. Spanish chroniclers including Bernabe Cobo and Garcilaso de la Vega wrote about the role of the guinea pig in Incan diets and ritual. Becoming a Pet Guinea pigs were introduced into Europe during the sixteenth century, but as pets, rather than food. Remains of one guinea pig were recently discovered within excavations at the town of Mons, Belgium, representing the earliest archaeological identification of guinea pigs in Europeand similar in time to the 17th-century paintings which illustrate the creatures, such as the 1612 Garden of Eden by Jan Brueghel the Elder. The excavations at the site of a proposed parking lot revealed a living quarter which had been occupied beginning in medieval times. The remains include eight bones of a guinea pig, all found within a middle-class cellar and adjacent cesspit, radiocarbon dated between AD 1550-1640, shortly after the Spanish conquest of South America. The recovered bones included a complete skull and the right part of the pelvis, leading Pigià ¨re et al. (2012) to conclude that this pig was not eaten, but rather kept as a domestic animal and discarded as a complete carcass. Sources History of the Guinea Pig  from archaeologist Michael Forstadt. Asher, Matthias. Large males dominate: Ecology, social organization, and mating system of wild cavies, the ancestors of the guinea pig. Behavioral Ecology and Sociobiology, Tanja Lippmann, Jà ¶rg Thomas Epplen, et al., Research Gate, July 2008. Gade DW. 1967.  The Guinea Pig in Andean Folk Culture.  Geographical Review  57(2):213-224. Kà ¼nzl C, and Sachser N. 1999.  The Behavioral Endocrinology of Domestication: A Comparison between the Domestic Guinea Pig (Cavia apereaf.porcellus) and Its Wild Ancestor, the Cavy (Cavia aperea).  Hormones and Behavior  35(1):28-37. Morales E. 1994.  The Guinea Pig in the Andean Economy: From Household Animal to Market Commodity.  Latin American Research Review 29(3):129-142. Pigià ¨re F, Van Neer W, Ansieau C, and Denis M. 2012.  New archaeozoological evidence for the introduction of the guinea pig to Europe.  Journal of Archaeological Science  39(4):1020-1024. Rosenfeld SA. 2008.  Delicious guinea pigs: Seasonality studies and the use of fat in the pre-Columbian Andean diet.  Quaternary International  180(1):127-134. Sachser, Norbert. Of Domestic and Wild Guinea Pigs: Studies in Sociophysiology, Domestication, and Social Evolution. Naturwissenschaften, Volume 85, Issue 7, SpringerLink, July 1998. Sandweiss DH, and Wing ES. 1997.  Ritual Rodents: The Guinea Pigs of Chincha, Peru.  Journal of Field Archaeology  24(1):47-58. Simonetti JA, and Cornejo LE. 1991.  Archaeological Evidence of Rodent Consumption in Central Chile.  Latin American Antiquity  2(1):92-96. Spotorno AE, Marin JC, Manriquez G, Valladares JP, Rico E, and Rivas C. 2006.  Ancient and modern steps during the domestication of guinea pigs (Cavia porcellus L.).  Journal of Zoology  270:57–62. Stahl PW. 2003.  Pre-columbian Andean animal domesticates at the edge of empire.  World Archaeology  34(3):470-483. Trillmich F, Kraus C, Kà ¼nkele J, Asher M, Clara M, Dekomien G, Epplen JT, Saralegui A, and Sachser N. 2004. Species-level differentiation of two cryptic species pairs of wild cavies, genera Cavia and Galea, with a discussion of the relationship between social systems and phylogeny in the Caviinae.  Canadian Journal of Zoology  82:516-524.

Singapore Facts, History, and Description

Singapore Facts, History, and Description A bustling city-state in the heart of Southeast Asia, Singapore is famous for its booming economy and its strict regime of law and order. Long an important port of call on the monsoonal Indian Ocean trade circuit, today Singapore boasts one of the worlds busiest ports, as well as thriving finance and services sectors. How did this tiny nation become one of the worlds wealthiest? What makes Singapore tick? Government According to its constitution, the Republic of Singapore is a representative democracy with a parliamentary system. In practice, its politics have been completely dominated by a single party, the Peoples Action Party (PAP), since 1959. The Prime Minister is the leader of the majority party in Parliament and also heads the executive branch of government; the President plays a mostly ceremonial role as the head of state, although he or she can veto the appointment of top-level judges. Currently, the Prime Minister is Lee Hsien Loong, and the President is Tony Tan Keng Yam. The president serves a six-year term, while legislators serve five-year terms. The unicameral parliament has 87 seats and has been dominated by PAP members for decades. Interestingly, there are also as many as nine nominated members, who are the losing candidates from opposition parties who came closest to winning their elections. Singapore has a relatively simple judicial system, made up of a High Court, a Court of Appeals, and several types of Commercial Courts. The judges are appointed by the President upon the advice of the Prime Minister. Population The city-state of Singapore boasts a population of about 5,354,000, packed in at a density of more than 7,000 people per square kilometer (almost 19,000 per square mile). In fact, it is the third-most densely populated country in the world, following only the Chinese territory of Macau and Monaco. Singapores population is highly diverse, and many of its residents are foreign-born. Just 63% of the population are actually citizens of Singapore, while 37% are guest workers or permanent residents. Ethnically, 74% of Singapores residents are Chinese, 13.4% are Malay, 9.2% are Indian, and about 3% are of mixed ethnicity or belong to other groups. Census figures are somewhat skewed because until recently the government only allowed residents to select a single race on their census forms. Languages Although English is the most commonly used language in Singapore, the nation has four official languages: Chinese, Malay, English, and Tamil. The most common mother tongue is Chinese, with about 50% of the population. Approximately 32% speak English as their first language, 12% Malay, and 3% Tamil. Obviously, written language in Singapore is also complex, given the variety of official languages. Commonly-used writing systems include the Latin alphabet, Chinese characters and the Tamil script, which is derived from Indias Southern Brahmi system. Religion in Singapore The largest religion in Singapore is Buddhism, at about 43% of the population. The majority are Mahayana Buddhists, with roots in China, but Theravada and Vajrayana Buddhism also have numerous adherents. Almost 15% of Singaporeans are Muslim, 8.5% are Taoist, about 5% Catholic, and 4% Hindu. Other Christian denominations total almost 10%, while approximately 15% of Singapores people have no religious preference. Geography Singapore is located in Southeast Asia, off the southern tip of Malaysia, north of Indonesia. It is made up of 63 separate islands, with a total area of 704 kilometers square (272 miles square). The largest island is Pulau Ujong, commonly called Singapore Island. Singapore is connected to the mainland via the Johor-Singapore Causeway and the Tuas Second Link. Its lowest point is sea-level, while the highest point is Bukit Timah at the lofty elevation of 166 meters (545 feet). Climate Singapores climate is tropical, so temperatures do not vary much throughout the year. Average temperatures range between about 23 and 32 °C (73 to 90 °F). The weather is generally hot and humid. There are two monsoonal rainy seasons- June to September, and December to March. However, even during the inter-monsoon months, it rains frequently in the afternoon. Economy Singapore is one of the most successful Asian tiger economies, with a per capita GDP of $60,500 US, fifth in the world. Its unemployment rate as of 2011 was an enviable 2%, with 80% of workers employed in the services and 19.6% in industry. Singapore exports electronics, telecommunications equipment, pharmaceuticals, chemicals, and refined petroleum. It imports food and consumer goods  but has a substantial trade surplus. History of Singapore Humans settled the islands that now form Singapore at least as early as the 2nd century CE, but little is known about the early history of the area. Claudius Ptolemaeus, a Greek cartographer, identified an island in Singapores location  and noted that it was an important international trading port. Chinese sources note the existence of the main island in the third century  but provide no details. In 1320, the Mongol Empire sent emissaries to a place called Long Ya Men, or Dragons Tooth Strait, believed to be on Singapore Island. The Mongols were seeking elephants. A decade later, the Chinese explorer Wang Dayuan described a pirate fortress with mixed Chinese and Malay population called Dan Ma Xi, his rendering of the Malay name Tamasik (meaning Sea Port). As for Singapore itself, its founding legend states that in the thirteenth century, a prince of Srivijaya, called Sang Nila Utama or Sri Tri Buana, was shipwrecked on the island. He saw a lion there for the first time in his life  and took this as a sign that he should found a new city, which he named Lion City- Singapura. Unless the big cat was also shipwrecked there, it is unlikely that the story is literally true, since the island was home to tigers but not lions. For the next three hundred years, Singapore changed hands between the Java-based Majapahit Empire and the Ayutthaya Kingdom in Siam (now Thailand). In the 16th century, Singapore became an important trading depot for the Sultanate of Johor, based on the southern tip of the Malay Peninsula. However, in 1613 Portuguese pirates burned the city to the ground, and Singapore vanished from international notice for two hundred years. In 1819, Britains Stamford Raffles founded the modern city of Singapore as a British trading post in Southeast Asia. It became known as the Straits Settlements in 1826  and then was claimed as an official Crown Colony of Britain in 1867. Britain retained control of Singapore until 1942  when the Imperial Japanese Army launched a bloody invasion of the island as part of its Southern Expansion drive in World War II. The Japanese Occupation lasted until 1945. Following the Second World War, Singapore took a circuitous route to independence. The British believed that the former Crown Colony was too small to function as an independent state. Nonetheless, between 1945 and 1962, Singapore received increasing measures of autonomy, culminating in self-government from 1955 to 1962. In 1962, after a public referendum, Singapore joined the Malaysian Federation. However, deadly race riots broke out between ethnic Chinese and Malay citizens of Singapore in 1964, and the island voted in 1965 to break away from the Federation of Malaysia once more. In 1965, the Republic of Singapore became a fully self-governing, autonomous state. Although it has faced difficulties, including more race riots in 1969 and the East Asian financial crisis of 1997, it has proved overall a very stable and prosperous little nation.

Can Volunteer Work Help Your Resume

Can Volunteer Work Help Your Resume People who are either in-between jobs or looking to change careers have a lot of work to do when it comes to maintaining or building their resumes. If you’re in-between jobs, you must be engaged in activities that will enhance your resume and show potential employers you are a proactive individual. If you’re looking to change careers, you need to tackle that difficult task of adding experience to your resume when no one will give you the opportunity to do so. The answer to both of these problems is to take on volunteer work. Organizations that hire volunteers are always willing to train people when it comes to new tasks, and they are always grateful to have people with experience working on important projects. There are several other ways that volunteer work can not only help your resume, but also boost your career.It keeps the career fires burning.According to Careerealism.com, volunteer work is a great way to keep your passion for what you do burning brightly. If you are a nurse in-between jobs, then volunteering at the local clinic will remind you how much you enjoy helping others. Anyone looking to change careers can gain a real passion for that new career path by getting involved in volunteer work. Instead of jumping into your new career without really knowing what you are getting into, you can use volunteer work to create a heightened sense of excitement about your new profession.You’ll network with new people.Job hunters who do not volunteer are missing out on an excellent opportunity to network with new industry contacts who  might lead to a new job. According to Monster.com, anyone looking to break into a new career will find the process much easier when they utilize the contacts they make doing volunteer work.Some of the most prominent members of your local corporate community do regular volunteer work, and those prominent professionals are always interested in making contact with new volunteers who show passion and ability. The networking contacts you can make volunteering could significantly boost your resume and put you on the path towards a better career.You can add skills to your resume.One of the biggest benefits of volunteering to boost your resume is the opportunity to add new skills to your professional qualifications. The charitable organization you volunteer for would be more than happy to show you an array of new skills that you can use to create a much more impressive resume. Volunteering also gives you the chance to develop a resume for your career change that would list skills that often take years for people within the industry to learn.Volunteering is not only good for your community; it is also good for your career. The people you can meet, the skills you can acquire, and the experience you can build up through a volunteering position can be invaluable in enhancing your resume, and in making your qualifications stand out to potential new employers.To learn more about volunteering opportun ities and boosting your career, you can sign up with TheJobNetwork today. You will get all of the inside information you need to grow your career and boost your professional qualifications.

A critical analysis of a scenario demonstrating an understanding of Essay

A critical analysis of a scenario demonstrating an understanding of the underpinning theoretical frameworks - Essay Example According to Kubler Ross just before the grief cycle people are stable in their emotions as they begin to take in the information about the individuals death. As they begin to grieve, they experience the following cycle: Although this may not be the case for everyone, it seems that Mr. and Mrs. Green have reached a stage where therapy is needed to get through their grief. Mr. Green is definitely in the anger stage. He wants to strike out at someone and he wants his son back. On the one hand he is in the denial stage because he wants to blame someone else for his sons demise. He doesn’t want to accept that his son could have done this on his on. Unfortunately we dont have a lot of information on Mrs. Green, but it may see that she is still in denial because she wants to keep some of his pictures around. We cant be sure whether this is because she has come to terms with her sons death or whether this is something that she is still holding on to because she is stuck in denial; we would need more information to tell. Mr. Green seems to be the focal point of the therapy session because he is the most vocal. As a therapist, I dont think the therapist in the scenario is doing her job. It doesn’t seem that the individual is helpful to her clients. She seems to want to distance herself from them instead of interacting with them. Although it is important not to hug a client in most instances, it doesnt seem from the information we have that this individual is actually helping them through the process. Some of the most successful therapists show empathy with tears or with a hug to a patient when they are grieving. It is clear that this is not this therapists style and although this is permissible, it doesnt seem like what this couple needs. To sense the clients private world as if it were your own, but without ever losing the "as if" quality--this is empathy, and this seems essential to therapy. To sense the clients anger, fear, or confusion as if

Strategic Management Essay Example | Topics and Well Written Essays - 2000 words - 28

Strategic Management - Essay Example In future, Intel needs to acquire the knowhow of building similar chips. The brand awareness of the firm is high in the industry; and with such strategic changes, Intel would be able to rule out competition of ARM Holdings. The case study examines the strategic management operations of Intel. From 2012 to 2013, the industry has experienced an excellent rate of turnover, which is as high as 4.8%. This industry is dominated by certain giant corporations like, Intel, Samsung and Broadcom. This examination will be done by studying the business environment where the company operates, along with its current business strategies on basis of the case study. Finally, the report will analyze ways through which Intel would be able to sustain competitive advantage in the industry as it has been noticed that companies like, ARM Holdings, are encroaching on large proportion of assured market demand of Intel. The forecasts regarding business of the semiconductor industry are made by the World Semiconductors Trade Statistics Organization (WSTS). Hence the firms in the industry are highly conscious about the reports published by this agency, as it influences their brand images in the market. The royalties and licenses of new technological developments are provided to the firms of semiconductor industry in each nation by public governing authorities. Hence the firm’s operational freedoms are highly manipulated and controlled by the public authorities. The companies within the industry experience high degree of competition among them. Perhaps this is the reason for which the firms like Intel and ARM are found to invest large amount of money for product and process development procedures in business. The degree of communicational integration has enhanced with rise in use of internet. This has spurred demand for technological smart gadgets

Social Media Marketing Assignment Example | Topics and Well Written Essays - 2000 words

Social Media Marketing - Assignment Example The major advantage associated with Social media marketing is that it presents the potential for reaching the customers that other traditional methods of advertising cannot be able to reach. Social media marketing applies technological tools such as the internet, social media platforms and mobile phones to pass and circulate messages regarding a company, brands or products. In this respect, there is no limitation as to the number of people who can be reached by the message, as opposed to the traditional advertisement, where the print or mass media may be limited in accessibility to a certain category of the audience. The other advantage of Social media marketing is that it offers a far easier strategy of building brand loyalty, through allowing the engagement of the customers through every stage of the brand products, such that the final product is tailor-made for customer satisfaction, thus making the customer loyal to the brand. Social media marketing is also advantageous in that i t offers the brand owners and company’s opportunities to improve their products, by learning the customer needs from the feedbacks generated through social media. Nevertheless, the disadvantage associated with Social media marketing is that the effectiveness of social media marketing highly depends on the marketer’s talent and time commitment to developing the advertisement message, as opposed to traditional media which can reach the target audience even without overburdening the marketer with time and talent commitments.

Outline Essay Example | Topics and Well Written Essays - 1750 words - 1

Outline - Essay Example uote: â€Å"Genetic studies have shown that the particular set of weight-regulating genes that a person has is by far the most important factor in determining how much that person will weigh† (The Daily Beast, 2009, p. 1). Obesity is also a result of the activities and habits of an individual. Factors like the type of food one likes, and the amount of exercise one does to burn the fat have an important role in determining one’s body-mass-index. Eating at junk food is a common cause of obesity. Obesity exposes an individual to myriad of problems of personal health and relationships, and socioeconomic risks. Foremost, obese people are vulnerable to potential life threatening diseases owing to a low immune system. These include insulin resistance, high blood pressure, type 2 diabetes, stroke, high cholesterol, heart attack, gallstones, gout, osteoarthritis and cancer. Moreover, obese individuals face a number of challenges such as the risk of losing their jobs. Obesity affects the productivity of an individual as they find it harder to cope with the strenuous work load. Surgery is an effective and better but costlier option of getting rid of obesity for chronic obese patients than drug treatment, but obese people can afford it if health insurance premiums for them are raised. a. Quote info: â€Å"some employers have opened fitness centres, conducted health education programs and even have provided incentives for employees who participate in proven weight loss programs† (Ceniceros 2). Obesity is growing in the USA and is the cause of many health and socioeconomic risks for the people. To fight obesity, several ways can be adopted some of which include raising the insurance premiums for the obese people, and taxing obese people more. These measures are demotivating and discouraging factors for people to gain weight. In addition, surgery can be used to remove fat. Employers must provide their employees with subsidized gyms whose use should be made obligatory upon

Summaries Essay Example | Topics and Well Written Essays - 1000 words

Summaries - Essay Example There is no safety net that ensures the society is not held hostage by a few individuals, and thus is not a fair system for those who are not able to make ends meet. This system satisfies the wishes and objectives of a few in the society who are able to manipulate their way up the social ladder. Feminists believe that the dismantling of the capitalist’s way of thinking will play a decisive role in liberating the underprivileged from oppression (Christian, 2011). Communism, on the other hand, is a revolutionary movement that creates a freer market, and classless, moneyless and stateless society. It is based upon common ownership of the means of production as principles that aim at establishing a social order. This brings together the social, political and economic ideologies. It is centered on the belief in the power of the people and pooling of resources and labor thereby encouraging collective ownership (Christian, 2011). It is a way of avoiding the exploitations that become prevalent through feudal systems. It brings the rights of the poor to the fore with each individual having a chance to exercise their rights. In this system the will of the people becomes the law. It equates all people while ensuring that everyone benefits from communal resources. Feminists see this as their liberation from the oppressive past as the communists built the foundation of the 1950’s and 1960’s liberation movements (Christian, 2011). Qn2: Karl Marx, communism & alienated labor Karl Marx believed in the need for the end of exploitation that was perpetuated by only a few individuals through the oppression of the rest in the society. He designed the communist way of thinking as a way of fighting the evils of capitalism and as a way of ending the status quo conflict (Christian, 2011). He believed communism was one best way of bringing people together and putting them in a position that would make it highly unlikely for humans to exploit fellow beings. Those wit h the private means of production would lose it to the community making it possible for the community to take over. Equity would prevail after oppression is done away with, which, in turn, would provide abundant opportunities with few limitations or barriers for people to achieve their goals. Each would give according to their abilities and receive according to their needs (Christian, 2011). The alienation of labor brought about by the class system would cease to exist as everyone would have a chance to provide for the communal needs. Workers will not be held captive by their bosses as they would become autonomous and self-realized human beings. Alienation made the workers express their social aspect through a production system that was unfairly owned and this meant that their goals would be directed by the highly privatized production system, and communism sought to break this ideology. Qn 3: Nietzsche and the Eternal Return The concept of the eternal return is based on speculation that the universe has been recurring and will continue to do so in a similar form. This process goes on for an infinite number of times within an infinite space. If time and space are infinite, then the world has had experiences that will be repeated over and over in an infinite proposition. Nietzsche posits that what has happened in the past will come to play again in the future. Thus, the cycle of the future emanates from the past cycles and this is a process that recurs more often

Integration of Paperless System in Healthcare Administration Research Paper

Integration of Paperless System in Healthcare Administration - Research Paper Example This paper's aim is to introduce the definition of a paperless environment, its meaning, requirements and components, advantages and benefits, specifically for the medical settings and the healthcare administration. This paper will be focusing on these main topics of interest: 1. Introduction to the paperless workplace 2. Benefits of the paperless workplace A. Environment-friendly impact B. Communication versatility C. Security D. Productivity and effectivity 3. Components and requirements of a paperless workplace in the medical setting 4. Conclusion Introduction to the paperless workplace The idea of a paperless workplace has been around for quite sometime, but its transition from being an idea to actually being implemented took quite some time. According to articlesbase.com in their article â€Å"A Brief History Time â€Å"paperless Office ", the idea of the paperless office â€Å"was introduced in the year of 1975† but the article also stated that it was not until 1993 th at a major software company started to actually introduce the idea and provided tools in order to make it doable in the workplace. In an article by ehow.com, called â€Å"Definition of a Paperless Office†, they described a paperless office as â€Å"Instead of paper, the paperless office would use modern technology to accomplish all of the same goals.† This means that a paperless office would make it so that functions such as internal or external communication, memos and reminders, bulletins, notes and reports would all be done electronically. This means that there would be little to no paper used in such an office setting; only when absolutely necessary. This type of situation has both benefits and adjustments that need to be made on the part of both the business and the employees, which will be detailed in later parts of this paper. The thing to remember is that this type of work environment presents many advantages for all types of workplaces, even healthcare environ ments. In a paper called â€Å"Synthesis of Data from Alabama Board of Nursing† they described that the healthcare industry still relies heavily on paper for documentation. This shows us how much the healthcare industry wastes on paper. The basics of the paperless office or workplaces are quite simple in concept. According to inc.com in their article â€Å"How to switch to a paperless office†, going paperless has lots of advantages, one of them being that the business could potentially save money. The article goes on to say â€Å"Anyone working in the office of a lawyer, accountant, or health care company can tell you: the paperless office is still for many elusive, buried under ever increasing stacks of paper. â€Å" but it does provide steps to follow in order to help a business to go paperless. We must be aware that going paperless is not without cost, but we can think of that initial cost as an investment that will eventually have a return. The next part of this paper will discuss the benefits of a paperless office and break them down into specific benefits and their effects on the healthcare setting. Benefits of the paperless workplace Before we look at what benefits can be gained from converting to a paperless workplace, we must first look at how using paper as a main source of communication and documentation can affect a workplace negatively. Some people feel that new

Group WIKI Assignment Example | Topics and Well Written Essays - 250 words

Group WIKI - Assignment Example Prevention includes recreational treatment methods that will teach them on how to be much more in control of their lives and choices they make including the friendship they keep. The case study of the 12 year old girl with substance abuse problem will also benefit more from having a strong social support system from the parents and guardians as the girl has the mother, she should try to provide a social support after the rehabilitation (Gregg, 2012). According to the journal article, nurses are the first to discover about older people that may be undergoing domestic abuse without them even having the knowledge about it taking place. The best way to handle such situations is for the one that discovers the domestic violence to find ways to address it as soon as they can to protect the one being abused with or without their knowledge. In this case about the elderly couple, the man needs help from the lady as he seems to be undergoing domestic violence (McDowall, 2010). Aradilla-Herrero, A., Tomas-Sabado, J. & Gomez-Benito, J. (2014, April 23). Associations between emotional intelligence, depression and suicide risk in nursing students. Nurse Education Today, 34(4):

Integration of Paperless System in Healthcare Administration Research Paper

Integration of Paperless System in Healthcare Administration - Research Paper Example This paper's aim is to introduce the definition of a paperless environment, its meaning, requirements and components, advantages and benefits, specifically for the medical settings and the healthcare administration. This paper will be focusing on these main topics of interest: 1. Introduction to the paperless workplace 2. Benefits of the paperless workplace A. Environment-friendly impact B. Communication versatility C. Security D. Productivity and effectivity 3. Components and requirements of a paperless workplace in the medical setting 4. Conclusion Introduction to the paperless workplace The idea of a paperless workplace has been around for quite sometime, but its transition from being an idea to actually being implemented took quite some time. According to articlesbase.com in their article â€Å"A Brief History Time â€Å"paperless Office ", the idea of the paperless office â€Å"was introduced in the year of 1975† but the article also stated that it was not until 1993 th at a major software company started to actually introduce the idea and provided tools in order to make it doable in the workplace. In an article by ehow.com, called â€Å"Definition of a Paperless Office†, they described a paperless office as â€Å"Instead of paper, the paperless office would use modern technology to accomplish all of the same goals.† This means that a paperless office would make it so that functions such as internal or external communication, memos and reminders, bulletins, notes and reports would all be done electronically. This means that there would be little to no paper used in such an office setting; only when absolutely necessary. This type of situation has both benefits and adjustments that need to be made on the part of both the business and the employees, which will be detailed in later parts of this paper. The thing to remember is that this type of work environment presents many advantages for all types of workplaces, even healthcare environ ments. In a paper called â€Å"Synthesis of Data from Alabama Board of Nursing† they described that the healthcare industry still relies heavily on paper for documentation. This shows us how much the healthcare industry wastes on paper. The basics of the paperless office or workplaces are quite simple in concept. According to inc.com in their article â€Å"How to switch to a paperless office†, going paperless has lots of advantages, one of them being that the business could potentially save money. The article goes on to say â€Å"Anyone working in the office of a lawyer, accountant, or health care company can tell you: the paperless office is still for many elusive, buried under ever increasing stacks of paper. â€Å" but it does provide steps to follow in order to help a business to go paperless. We must be aware that going paperless is not without cost, but we can think of that initial cost as an investment that will eventually have a return. The next part of this paper will discuss the benefits of a paperless office and break them down into specific benefits and their effects on the healthcare setting. Benefits of the paperless workplace Before we look at what benefits can be gained from converting to a paperless workplace, we must first look at how using paper as a main source of communication and documentation can affect a workplace negatively. Some people feel that new

The Baskivilles so sucessful over 100 years after it was written Essay Example for Free

The Baskivilles so sucessful over 100 years after it was written Essay The fast dynamic is emphasised by the exclamation marks, the short, snappy sentences and the abundance of commas. These three factors also add a lot of suspense to the book. This pacey style to the book was something that was unique in Victorian Times and has become more common in the modern day but because of Arthur Conan Doyles unique writing style it is a book that stands out from the other and is still loved today. As Doctor Watson is the main character it brings out a rather mean and arrogant side to Homes that has not been seen in any of the previous books. This may be because Arthur Conan Doyle by this time (his fifth Sherlock homes book) was so sick of writing Sherlock Homes books that he decided to make him a mean man in order to decrease his popularity in the hope that he would not have to write any more. This contrast to his other books gives the reader a different interest and another portal to explore, thus ironically making the novel popular for all readers. An example of Homes arrogance is seen near the start of the book when Homes says to Watson It may be that you yourself are not luminous, but you are yourself a conductor of light. This rather subtle insult means that Dr Watson gets it so wrong all the time that it helps Sherlock Homes get to the correct answer by a process of elimination. However, ironically Sherlock Homes gets vital things in the book wrong giving him a hypocritical side after he criticised Dr. Watson for always getting things wrong. An example of Sherlock Homes getting it wrong was when he misinterpreted the thickness of the fog putting Sir Henrys in life danger after he was used as bait to draw the hound in. The set is also very important in the success of the book. Dartmoor is unfamiliar countryside that was very similar in 1902. The similarity in Dartmoor between 1902 and the modern day gives both readers a sense of reality and makes the book more realistic, even in the modern day. The unfamiliar, gloomy and mysterious setting of Dartmoor makes it a good place to hide the hound. The many caves and cliff faces also make it easy for the Hound to be hidden and this gives the book another sense of believability. The novel relies heavily on the people of the moor being superstitious and believing in supernatural events. For example the hound itself is believed to be a figure of imagination and superstition. Many people in 1902 were heavily superstitious but nowadays superstition is around in a much milder form. For example many people suffer from Triskaidekaphobia (the fear of the number thirteen) but it has never caused much harm to anyone. But because superstition is still around it makes the supernatural events in the book intriguing and believable thus contributing to the overall success of the book. Overall I feel that the main reasons why The Hound of the Baskervilles is still so successful is because of the reputation of the author Arthur Conan Doyle and the fact that his legacy has been passed down though families. I also feel that his unique writing style makes this particular book stand out from books written by other authors and published at a similar time. His unique writing style adds suspense, drama, unpredictability and believability and I feel that these are the crucial factors in why The Hound of the Baskervilles is so successful over 100 years after it was written. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Arthur Conan Doyle section.

Causes of the Break-Up of Czechoslovakia

Causes of the Break-Up of Czechoslovakia The new world order, followed by the post-Cold War era (Collapse of the Soviet Union in 1991 to present) has developed to a rather stable state. Contemporary Europe, the plural ethnicity region, on one hand, Ishiyama et. al., (1998: 2) argued that military force or â€Å"violence follows ethnic tensions as night follows day.† It is therefore, naturally de facto defined as â€Å"dissensus and pregnant with conflict† (Ishiyama et. al., 1998: 2). On the contrary, different in ethnicity and ideologies do not inevitably translate into violent political action (Fearon et. al., 1996: 715-735), for instance: the dissolution of Czechoslovakia in 1993 underwent peacefully with no bloody ethnic conflict involved between the Czechs and Slovaks. Stated succinctly, Czechoslovakia was regarded by many observers as a stabilising element in Central Europe, and many people hoped that it would become a model for the democratic transformation of multinational post-communist state. Structural violence, moreover, is another form of force, which means the social arrangements that place individuals and populations in a harmful way, Farmer et. al., (2006: 49) described the social arrangements are ‘structural’ is mainly due to the embedded political and economic organisation of the social world. The subtle but oftentimes invisible force plays a vital role on the disintegration of the nation. Particularly from Czechoslovakia’s perspective, the differences of the factors such as: the level of economic development, social, structure, culture, political organisation and traditions, along with the values, attitudes, and beliefs of the population, would have an immense impact on the way in which the communist system and the country were set up. (Welchik, 1991: 1) The ostensible contradiction on military force in Czechoslovakia, and the existence of structural violence have led this essay to endeavour whether force (military and/ or structural) is/ are the main means that the nation covers the same geographic areas as the state. The structure of the essay aims to evaluate the above mentioned statement by analysing the Velvet revolution and structural force such as: different in value orientations and political ideologies, imbalanced division in powers, and role of the political elites. Prior to laying the argument any further, brief historical facts behind Czechoslovakia needs to be mentioned. Czechoslovakia was created with the dissolution of Austria-Hungary at the end of World War I, the philosophy of greater unity and a single nation for the sake of economic development and political stability were proposed, hence the integration. Moreover, the integration was characterised by major discontinuities. Czech and Slovak leaders faced many of the same challenges â€Å"including the formation of a new state, its occupation and dismemberment in the WWII, and the imposition of a communist system, that confronted other states in the region† Prucha (1995: 40). Viewed from Slovak’s perspective, it was an independent country that never existed till the end of WWI, and was pulled from Hungary, which ruled those lands for centuries, by Czechs due to relatively close ethnic similarities of both nations, on the basis of panslavic movement, very popular among Czech s. Welchik (1990: 316). In terms of its population, it was evenly shared by Czechs and Slovaks, each made up to approximately fifty per cent of the initial population, and rest of the population were German, Hungarian, and Polish etc. In spite of the ethnic complexity, in the early 1920s, Czechoslovakia was identified as an island of stability in central Europe, to which its credit abroad was greatly enhanced. After 1989, due to Czechoslovakia’s political habitual moderation and the fact that no bloody ethnic conflict had arisen between Czechs and Slovaks in the past, it was regarded by many observers as a â€Å"stabilising element in Central Europe, and many people hoped that it would become a model for the democratic transformation.† Musil (1995: 1). The widespread set of peaceful protests which became widely known as â€Å"Velvet Revolution† occurred in autumn 1989, and eventually led to the disintegration. Moreover, the dissolution was undoubtedly a surprise for many people because two nations share many similarities, for example: linguistic, cultural and historical background. Wilde (2013) summarised three main factors that caused the revolution in 1989: Gunpoint cement of communism had gone, newly democratic Czechoslovakia came to discuss the new constitution, and emergence of discussion on the new constitution and how to government. The Velvet revolution, a resu lt of fall of communism in Eastern Europe, is extremely significant as it highlights a remarkable distinctive result of the disintegrations in Eastern Europe – Czechoslovakia experienced the disintegration with no bloody ethnic conflict and new states formed without the need for welfare; whereas the bloodshed of Yugoslavia made a stark contrast because the state collapsed into welfare and ethnic cleansing. To conclude briefly, the breakaway of the Soviet Union and the Velvet Revolution are two factors that led to the disintegration. In this case, military force and violence, in Czechoslovakia, were not the main means that had integrated nor disintegrated the state. The break-up of the Czechoslovak federation reflected the influence of many factors. Different in conceptions and opinions concerning the division of powers between Czech and Slovak political institutions are highly accountable for the disintegration. Musil (1995: 2) argued regardless of the extra efforts by politicians in the interwar period (1918-1938) and partly after World War II: â€Å"The idea of a common Czechoslovak state did not put down deep roots in Slovak soil†. Indeed, the abstract, yet tangible force – structural violence such as: different structural (level of economic development) and psychological (ideologies), division in powers between Czech and Slovak political institution, and the actions of the political leaders of two nations, can be attributed to the disintegration. Different in level of economic development led to a paternalistic attitude, which continued to exist since the integration of Czechoslovakia. To explain further, Czech was relatively stronger and more active in economic and cultural progress, whilst from Slovaks’ perspective, the junior partner was expecting an ‘equal’ relationship, with regard to economic and cultural development – â€Å"underestimated, discriminated against and underused in state administration and generally handicapped by the Czechs† as KrejcÃÅ'Å’iÃÅ'  (1990: 225) described. Indeed, some Slovaks believed Slovakia to some extent was exploited by its more developed partner, meanwhile the Czechs, held a thought that the Czech Republic’s economic growth would have had a better performance without being obstructed by Slovakia because an excessive transfer of resources was required. Although Ishiyama et. al., (1998: 41) argued the lack of aggressive hostility between the two communities is an apparent evidence to support the statement that structure force/ violence between Czechs and Slovaks were merely existent. It is, however, obvious that such ill-considered misunderstanding underpinned the roots of the tensions between the two communities. Purcha (1995: 41) explained the already fragile concept of a unitary Czechoslovakia was â€Å"eroded by the attitudes of mutual distrust†. Because of the lack of opportunities and willingness to address to the misperceptions and misinterpretations, it gradually became stereotypes, and led to the dissolution. Prihodo (1995: 130) explained the importance of the role of stereotypes â€Å"the dissolution in 1993 was not provoked by external force, so it (the importance of these stereotypes) may be greater than it seems at first glance.† Apart from different in structural perspective, the reasons for the break-up of Czechoslovakia must be sought in the principles of the development of the modern nation, i.e. â€Å"a (rising) separate national awareness of Czechs and Slovaks† Rychlik (1995: 97)

Physics and Computer Games :: Physics Computers Science Video Games

Computer games have steadily become a form of mainstream entertainment ever since Pong was released back in 1958. Today, it is hard to find an electronics department in any store that doesn't carry some sort of computer game. "Big deal," you say, "Everyone knows about computer games. What does they have to do with physics?" Well, the technology for creating more powerful software is constantly advancing, and since games are a form of software, they too become more and more advanced. As games become more advanced, game developers aim to create games that offer a more realistic experience. The technology has advanced to such a stage that making the games look real is no problem, but making a truly immersive experience is something different. That's where physics comes in. Well, to answer that, you have to have a basic understanding of physics. Physics is the study of matter and energy, and how the two interact with each other. Things such as gravity, sound and light - all involve physics. As you might have noticed, gravity, sound and light are things we encounter quite frequently in our day to day routines. Game developers, in their goal to create a believable, realistic world for the gamer to immerse themselves in, know that in order to do so their game needs to incorporate the laws of physics. After all, their games wouldn't be very realistic if players kept floating away every time they tried to make their character jump or dodge around. Gravity is only a small part of the realism experience. Developers have to incorporate as many laws of physics as they can in order to make their game truly realistic. Collisions play a big part in any game - it wouldn't be very believeable to allow players to move through walls or objects. Some games take the collision and elasticity elements further, and create extremely elaborate physics engines that can handle, say, two cars colliding, and produce a believeable outcome to the collision. Games like F1 Championship Racing and GTA3 have excellent physics engines that feature some really impressive automobile simulations. Many old games simply use gravity and collision detection in their games, but more recent games involve much more complicated physics applications. So How Do They Do It? Game developers use physics engines to simulate the physics effects in their games. What's a physics engine? A physics engine is a specialized piece of software specifically designed to integrate the laws of physics into a game. Physics and Computer Games :: Physics Computers Science Video Games Computer games have steadily become a form of mainstream entertainment ever since Pong was released back in 1958. Today, it is hard to find an electronics department in any store that doesn't carry some sort of computer game. "Big deal," you say, "Everyone knows about computer games. What does they have to do with physics?" Well, the technology for creating more powerful software is constantly advancing, and since games are a form of software, they too become more and more advanced. As games become more advanced, game developers aim to create games that offer a more realistic experience. The technology has advanced to such a stage that making the games look real is no problem, but making a truly immersive experience is something different. That's where physics comes in. Well, to answer that, you have to have a basic understanding of physics. Physics is the study of matter and energy, and how the two interact with each other. Things such as gravity, sound and light - all involve physics. As you might have noticed, gravity, sound and light are things we encounter quite frequently in our day to day routines. Game developers, in their goal to create a believable, realistic world for the gamer to immerse themselves in, know that in order to do so their game needs to incorporate the laws of physics. After all, their games wouldn't be very realistic if players kept floating away every time they tried to make their character jump or dodge around. Gravity is only a small part of the realism experience. Developers have to incorporate as many laws of physics as they can in order to make their game truly realistic. Collisions play a big part in any game - it wouldn't be very believeable to allow players to move through walls or objects. Some games take the collision and elasticity elements further, and create extremely elaborate physics engines that can handle, say, two cars colliding, and produce a believeable outcome to the collision. Games like F1 Championship Racing and GTA3 have excellent physics engines that feature some really impressive automobile simulations. Many old games simply use gravity and collision detection in their games, but more recent games involve much more complicated physics applications. So How Do They Do It? Game developers use physics engines to simulate the physics effects in their games. What's a physics engine? A physics engine is a specialized piece of software specifically designed to integrate the laws of physics into a game.

A Critique of the Juliette Beck Speech -- Argumentative Persuasive Pol

A Critique of the Juliette Beck Speech Juliette Beck's speech, "Reclaiming Just and Sustainable Communities in the Age of Corporate Globalization" neither adequately described the problems of globalization as it is currently structured, nor did it provide any answers to the problems with it, either the real problems that actually exist (labor and environmental exploitation) or the problems that Beck purported (large corporations). Primarily, Beck's speech was flawed in that it was incoherent and empirical incorrect. For instance 1) it purported the idea that globalization was "not inevitable", 2) it called upon the myth of "small is beautiful", confusing the real problem with globalization (Capitalist structure) with a false problem (the scale of the Corporate in a globalized world), and 3) it was often merely incorrect in some of the ideas and statistics that it stated. Also, the speech was not true to its title (well, maybe it was in that both were basically ridden with non-sense), in that it did not give real economic or political alternatives to Corporate Globalization. First, globalization already exists. The world's economic structure is already on a global scale. Although change is possible, the idea that we can regress back into history, destroying a globalized world and making Localism over all is not only a bad idea, but a useless, silly one. Capitalism, by its nature, is acquisitive, as is also imperialism. As long as either exist (usually joint hand and hand, at least in this point of pre-history), they will seek out, with the world's wonderful technology and knowledge, the few unmolested areas left in the world. These forces, by the sheer scale that they exist on, are impossible to overthrow at local levels, a... ...cally flawed, and did not even give many localist alternatives to corporate globalization, in addition to not giving any real alternative to it. However, in spite of this, some people on campus were so inadequately informed about the reality of how globalization is being carried out that it did do some level of good. Under a constant barrage of statistics and moralistic proclamations aimed at revealing the debased practices of institutions such as the IMF and World Bank, some students did leave with a better perspective on how corporate globalization (i.e. Capitalism, if they come to identify it as such on there own) is operating and with more interest with, at the least, becoming much better informed on the issue and, at the best, even becoming involved with political and civil organizations aimed at humanizing and democratizing the process known as globalization.

Public and Private Sector Accounting Essay

Accounting, known by and large to be a skilled, remunerative, but rather dry profession, has a long and fascinating history. In existence practically from the dawn of civilization, in one form or the other, accounting activity has been integral to some of the most important phases of history. Responsible for the invention of writing, accountants have over the ages, (because of their organic and fundamental association with the processes of trade, business, industry, governance, and taxation), been involved in monarchy and empire expansion, the process of colonisation, the industrial revolution, the World Wars, scientific progress, globalisation, and the spread of neo liberal economics across the world. Confucius, as a government official, was responsible for accounting, and much of what we know about the daily lives of ancient peoples comes from accounting records, such as inventories and sales records, found at archaeological sites. Accounting evolution has followed dissimilar routes in different countries and states and has been extensively shaped by the immediate and larger environment. Japan’s accounting processes, for example, which were significantly shaped by western influences, are very dissimilar from that of neighbouring China and have played an important role in the country’s far more rapid advancement in business, industry and international trade in the 19th and 20th centuries. Accounting policies and procedures in the modern day have, in somewhat similar fashion, evolved rather differently for private sector businesses and public sector corporations, being shaped and constructed by the unlike needs of the two sectors, the dissimilar nature of their income and expenditure streams, the different control processes under which they operate, and their diverse reporting requirements. Recent years have however witnessed significant rethinking in and rerouting of the functioning of public enterprises; the steadily increasing application of neo-liberal economic principles and greater accountability for the commercial and financial success of public sector corporations, leading to increasing convergence between the accounting policies and practices of the public with that of the private sector. This essay attempts to investigate the reasons for the differences in their historical evolution, and the current worldwide efforts to bring about greater convergence between the two accounting methods. Commentary and Discussion Historical Overview of Evolution of Accounting Whilst the extent of involvement of accounting activity in historical life across cultures is becoming clearer with the progress of archaeological work, the accounting profession has historically chosen to adopt a low profile, there being very few pioneers who can be identified with major accounting developments. The most important historical name to arise, in this connection, is that of Luca Pacioli, who in 1494 wrote a book on mathematics, in which he discussed the concept of double entry book keeping. The chapter on practical mathematics addressed mathematics in business. He said that the successful merchant needs three things: sufficient cash or credit, an accounting system that can tell him how he’s doing, and good bookkeeper to operate it. His accounting system consisted of journals and ledgers. It rested on the invention of double-entry bookkeeping. Debits were on the left side because that’ s what â€Å"debit† meant, â€Å"the left†. The numbers on the right were named â€Å"credits†. If everything was done right, then the bookkeeper could do a trial balance (â€Å"summa summarium†). Add up all the debits and then add up all the credits, he said. If everything had been done right, the totals should match. If not, â€Å"that would indicate a mistake in your Ledger, which mistake you will have to look for diligently with the industry and intelligence God gave you. † He wrote† It is difficult to overestimate the importance of double entry bookkeeping. Simple and adequate for the needs of business, it caught on immediately with Italian merchants, was central to their success, and contributed towards the impetus that led to the emergence of the Renaissance. Whilst the conceptualisation and implementation of the double entry system of bookkeeping in the 15th century was the first major watershed in the development of modern day accounting theory, the following centuries were also witness to a number of major developments in Europe and Asia in the area of business recording and accounting, many of which contributed to the development of modern day accounting principles and policies. Notwithstanding Pacioli’s seminal contribution to accounting methodology, a number of other renaissance forces also helped in giving body and shape to the discipline; key factors among these being the concept of private property, capital, widespread commerce, money, the use of credit, the development of arithmetic, and the growing use of writing for recording transactions. Although many of these factors did exist in ancient times, they were not found together, until the Middle-Ages, in a form and strength necessary to push for the innovation of double entry. Accounting rules, policies and practices evolved over time in response to the needs of businesses and to a range of developments. The emergence of the Industrial Revolution in the 18th century led accountants to devise accounting methods for finding the cost of production; large scale production of goods in the United States led to the formulation of cost accounting procedures, the arrival of income tax laws saw substantial modifications in the practice of keeping accounting records, and the great depression of the early decades of the 20th century led to the introduction of standards, the establishment of accounting principles and accounting frameworks. Josiah Wedgwood, the famous potter, contributed significantly to cost accounting by studying his books, manufacturing cost structure, overhead, and market structure to avoid bankruptcy during the recession. He became an accounting pioneer and his firm survives even today. Accountancy practices in recent years have been repeatedly scrutinised, modified and clarified through the setting up of accounting standards, the establishment of auditor responsibilities and the enactment of laws for appropriate disclosure. The reputation of the accounting profession has been severely tarnished by corporate scams and frauds like Enron, which has led to the questioning of accounting methods and principles, as well the integrity of the accounting profession. Accounting systems and practices, whilst developing side by side all over the world have followed distinctly different routes, being influenced by institutional and cultural factors. Institutional factors like legal systems, taxation laws, financing norms and methods, credit availability and stock exchange requirements, which have been markedly different for Anglo-Saxon, European, Central Asian, and East Asian environments have shaped the development of accounting systems accordingly. Researchers like Hofstede and Gray have theorised that cultural differences have also played a significant role in the establishment of different accounting systems in different countries. Gray took up Hofstede’s cultural hypotheses and linked them to the development of accounting systems in a meaningful way, stating that cultural or societal values permeated through organisational and occupational subcultures, and vice versa, though obviously the degree of integration differed from place to place. â€Å"Accounting systems and practices can influence and reinforce societal values† Development of Accounting Methods in the Public and Private Sectors The power of various influences to shape the development of accounting systems and methodologies is also evident in the shaping of accounting norms for the public sector and their significant differences from those adopted by or enforced upon the private sector; the public sector, basically implying corporations whose ownership vested with governments, and whose control was accordingly decided by government diktat. Whilst governments had until the 1930s focussed mainly on the controlling of law and order, defence, foreign policy, and similar other areas, the end of the Second World War saw them taking a far greater interest in business and commercial affairs, as well as in infrastructural sectors. Whilst some of these developments were due to the influence of socialist thought and the example set by socialist states, (where all businesses were controlled by the government), they were also influenced by the widespread disenchantment with the capitalist way of governance after the great depression of the 1930s. The huge task of nation building after the devastation caused by World War II made it necessary for governments to actually contribute to infrastructure building, nursing of revived industries, and setting up of new businesses. In the UK, activities like mining and railways were controlled by the government. In Italy the state owned IRI (Institute for Industrial Reconstruction) owned companies engaged in mining, steel, airlines, banking, telephones, and automobile manufacture, and in India the government, apart from controlling all infrastructural activity also controlled the majority of heavy business investment and activity. Substantial governmental control over infrastructural and commercial activity, in addition to its existing control over governmental departments, led to the evolution of a significantly different form of accounting than what was followed by the private sector. The most important of these differences concerned the mode of booking expenditures and incomes, which in the private sector worked on the accrual basis, even whilst the public sector chose to stay with the older method of recording them only after they had been realised in cash or kind. The cash basis of accounting, which records income or expenditure transactions only after such transactions have resulted in the physical receipt or payment of cash, constituted the commonly followed way of accounting for all enterprises, until the adoption of the accrual way of accounting by businesses, changed commonly held accounting perspectives. The cash system records accounting events when they become tangible, e. g. , when a customer’s check arrives, when a shipped product reaches the customer, or when money for a business-related expense is removed from the bank. Cash accounting registers income when money arrives and registers expenses when money goes out of the business. Even today the cash accounting method is a more familiar accounting method because of its use by most individuals in tracking of personal finances. Under this method, one’s income is taxable when it is received, and expenses are deductible when they are paid. Cash accounting remains a straightforward and easily understood method of record-keeping for tax purposes. The accrual method on the other hand approaches accounting events in real time. A sale is registered as soon as a customer receives a consignment even though the actual payment could come much later. Similarly an expense is recorded as soon as the event occurs and a liability recorded as soon as an event occur, whether it is purchase of material, use of services like water or electricity and use of employed or contracted labor, even though such transactions do not involve the simultaneous exchange of money. Over time most private sector businesses, apart from those controlled by small individuals or which were small in size, chose to switch over to the accrual system, forced as much by pressure from regulatory bodies and lending institutions, as by their desire to reflect more logical and realistic business and accounting outcomes. Most tax systems stipulate the compulsory use of accrual systems for private businesses after they achieve a certain size or adopt specified legal structures like those of privately owned or joint stock companies. Most public sector organisations, across the world, however chose to remain with the cash based system of accounting. Such decisions grew out of certain specific circumstances. Governments are essentially different in their nature from businesses, the information required for better understanding and assessment of the financial operations of government organisations extending beyond the reporting of surpluses and deficits. Governments, unlike the private sector, whilst required to run their operations efficiently, are required to provide goods and services to the public, which in some cases becomes more important than making profits. The measurement of surpluses or deficits is in many cases not the primary indicator of the performance of government working. In many countries the public sector continues to retain a separate and different approach from the private sector. Their services are often provided free at the point of use and there is little or no direct link between the cost of these and government income, which is mainly in the form of taxation. The government, in many cases, decides upon the amount of grants required for specific public sector organisations through the formulation of budgets and provides the same on a periodic basis; many such organisations preferring to call their financial statements â€Å"receipt and expenditure† rather than profit and loss statements. The accounting policies of public sector organisations are also shaped by their different reporting requirements. Private sector organisations, especially those that are legally structured as joint stock companies need to provide a true and fair description of their financial performance for the benefit of their shareholders, the tax authorities, and other stakeholders. Even smaller organisations need to necessarily satisfy the requirements of tax departments and their owners, and their accountants routinely adopt the accrual system for recording transactions and preparing statements. Reporting requirements for government controlled organizations is significantly different. Comparison of actual disbursals and expenses with those budgeted is a routine requirement, a need that is more conveniently filled through the use of cash accounting records. The managements of such organisations also have to report on specific information needs of various bodies, including supervisory government departments, parliamentary bodies, and the governmental auditors. Conclusion Recent years have seen extensive debate in public sector accounting and the changes made in many countries for shifting from the cash to the accrual basis of accounting. Public sector working has been influenced during the last three decades by the concepts of New Public Management, (NPM), which expressly calls for enhancement of the efficiency, effectiveness, and accountability of public service delivery through the implementation of a wide range of changes that include deregulation, decentralisation, outsourcing, substitution of input control by output control, result orientation, responsibility assignment and introduction and implementation of private sector management techniques. Whilst the adoption of the accrual system of accounting will lead to the production of more logical and more accurate financial statements, the convergence process will need extensive retraining and education not just of public sector accountants but also of public sector auditors and the users of these financial statements. Such lack of familiarity may lead to inaccuracies in the preparation of financial statements and will need to be addressed through appropriate training and skills upgradation of the concerned people. With the aim of public sector reforms being the dismantling of bureaucracy and more efficient use of resources, increased managerial autonomy and discretion is being accompanied by an emphasis on more extensive accounting practices. Again with accounting playing a key role in NPM implementation and in public sector reforms, the need for greater convergence between public and private sector accounting is being increasingly evidenced. Significant accounting reforms are taking place in many countries, more specifically in the United States, the UK, and West and Nordic Europe. Many public sector companies are changing their accounting policies to institutionalise accrual accounting for budgetary and external financial reporting purposes in order to provide useful information about liabilities, debt, usage of assets, and the cost of public services Whilst change is coming about slowly in public sector accounting, the issue is still being debated vigorously in many countries. The International Federation of Accountants (IFAC) formulated the â€Å"Guideline for Governmental Financial Reporting† in 1998 to help public sector units at all levels to prepare their financial reports on the basis of accruals. The IFAC Guideline, along with the International Accounting Standards (IAS) followed by the private sector, make the basis for the International Public sector Accounting Standards (IPSAS) developed by the Public sector Committee (PSC) of IFAC.

Clearwater Seafoods case Essay

Clearwater Seafood (Clearwater) is a seafood company located on the east coast of Canada, and Clearwater Seafood income Fund with operations around the world. As a result of the increasing importance of the Canadian dollar relative to other currencies of the world, Clearwater recently stopped paying their distributions. The decision faced by the financial director to determine the strategy of the company should take to enable it to recover its distribution. This is due to the choice between various financial and operational resources to hedge currency risks that brought the company to its current situation Background: Clearwater was founded in 1976 at Bedford, Nova Scotia as a local lobster distributer and later in 2002 went public. Clearwater Seafood harvests, processes, and distributes fresh and frozen fish and shellfish to sell worldwide. It holds major offshore rights to harvest clams, crab, lobster, scallops, and shrimp off the north eastern coast of Canada. Clearwater Seafood operates its own fleet of ships, along with off-shore and on-shore processing facilities. Foreign Exchange Risk: Foreign exchange risk is the risk to the value of one’s assets when it is valued in another currency. The exchange rate of a currency to another may be volatile. It is this change in value of the currency that gives rise to foreign exchange risk. Depreciation in the currency in which your assets are denominated will result in a lower value of your assets when measured in another currency compared to the period before depreciation. The majority of Clearwater’s customers are international customers. In 2005, majority of Clearwater’s sales were from overseas customers. The source of their foreign exchange risk is the payment method that the company implements. The customers are billed in their domestic currency rather than in Canadian dollars. Clearwater deals with customers from the US, Japan, Europe and Asia. The company receives payment from its international customers in their respective currency. When the Canadian dollar appreciates in relation to all these currencies, the money that Clearwater receives from their customers loses value. The higher the Canadian dollar appreciates, the less Canadian dollars Clearwater can convert to with the US dollars, euros or yen that  they receive from their customers. Risks associated with foreign exchange are partially mitigated by the fact Clearwater operates internationally, which reduces the impact of any country ­ specific economic risks on its business. Clearwater also uses forward exchange contracts to manage its foreign currency exposures. Clearwater’s sales denominated in U.S. dollars were approximately 55% of annual sales as on December 31st 2005. These forward contracts were such that a one-cent change in the U.S. dollar as converted to Canadian dollars would result in a $505,000 change in sales and gross profit. In addition, approximately 19% of 2005 annual sales were denominated in Euros. Based on the sales and hedges in place on December 31, 2005, a one-cent change in the Euro as converted to Canadian dollars would result in a $285,000 change in sales and gross profit. Also, 8% of 2005 annual sales were denominated in Japanese Yen. Based on 2005 annual sales, every one ­ twentieth of a cent change in the Yen as converted to Canadian dollars would result in a change of  ¥118,087,000 in sales and gross profit. It is clear that Clearwater faces significant foreign exchange risk and the implications of an adverse change in the currency conversions can be too huge for the company to endure. Business risk: Business risk is the possibility that a company will have lower than anticipated profits or the company will incur a loss. Business risk may influenced by numerous factors, including sales volume, per-unit price, input costs, competition, and overall economic climate and government regulations. Clearwater’s business depends on a continuing supply of product that meets its quality and quantity requirements. Water temperatures, feed in the water and the presence of predators all influence the level of the catch and harvesting locations are not necessarily consistently successful from year to year. The availability of seafood in Canadian and Argentinean waters is also dependent on the total allowable catch allocated to Clearwater in a given area. Although the totals allowable catch in these areas and Clearwater’s enterprise allocations have been largely stable, fishery regulators have the right to make changes in the total allowable catch based on their assessment of the resource from time to time. Any reduction of total allowable catches in the areas from which Clearwater sources seafood, or the reduction of stocks due to changes in the  environment or the health of certain species, may have a material adverse effect on Clearwater’s financial condition and results of operations. Resource risk is managed through adherence to the Department of Fisheries and Oceans (†DFO†) policies and guidelines. The guidelines, developed by DFO, are very often a cooperative effort between industry participants and DFO. Clearwater mitigates the risk associated with resource supply and competition through the diversification across species. Clearwater’s operating costs may be negatively affected by increases in inputs, such as energy costs, raw material and commodity prices. Clearwater uses fuel, electricity, air and ocean freight and other materials in the production, packaging and distribution of its products. Fuel and freight are two significant components of the costs of Clearwater’s products and the distribution thereof the inability of any of Clearwater’s suppliers to satisfy its requirements or a material increase in the cost of these inputs may have an adverse effect on Clearwater’s financial condition and results of operations. The seafood industry is highly competitive in all of the markets in which Clearwater participates. Some of Clearwater’s competitors have more significant operations within the marketplace, a greater diversification of product lines and greater economic resources than Clearwater and are well established as suppliers to the markets that Clearwater serves. Such competitors may be better able to withstand volatility within the seafood industry and throughout the economy as a whole while retaining greater operating and financial flexibility than Clearwater. There can be no assurance that Clearwater will be able to compete successfully against its current or future competitors or that competition will not affect Clearwater’s financial condition and results of operations. Recommendations for management: Foreign Exchange Risk: Clearwater did not completely offset the recent currency fluctuations with their hedge positions and they paid the price for it. It is recommended that they fully hedge all their foreign exchange positions. FPI is an example of a competitor in the industry who has benefited from doing so. FPI was largely unaffected by the currency fluctuation that badly affected Clearwater. This is justified by FPI’s increase in sales from 2003 to 2004  where Clearwater had corresponding drop in sales during the same period. It is also recommended that Clearwater switch its short call options to long call options. In its current short call position, Clearwater is the seller of the option and has no right to exercise the option. Clearwater is responsible to meet its obligations in the case the counterparty exercises the option at strike price. In a nut shell, under this short call position, Clearwater does not eliminate uncertainty on currency prices, its counterpart however does. Instead of this position, Clearwater should enter in long call options to hedge its foreign exchange risk. They should lock in prices to buy Canadian dollars in all the foreign currencies that they receive as payment such as US dollars, yen, euro, sterling and others. If the Canadian dollar were to appreciate, they would exercise the call option at the stipulated strike price and this would cut their losses of further appreciation. If the Canadian dollar were to depreciate, Clearwater would merely lose the price paid for the option premium. Overall, Clearwater benefits from this long call position regardless whether the exchange rate appreciates or depreciates as they have removed uncertainty in the exchange rate. Clearwater should also diversify its hedging strategies and enter into a matching receipts and payments strategy. This method involves offsetting receipts and payments. As a major part of their foreign exposure is to the US dollar, it is recommended that they rearrange some of their purchasing arrangement with its current domestic suppliers and switch to suppliers from the United States. By switching to American suppliers, they will be billed in US dollars. The US dollars that Clearwater receives from its American customers can be used to pay the bills that are denominated in US dollars. This directly nullifies any volatility in the US dollar to Canadian dollar exchange rate. Clearwater should enter into agreements with its large counterparties to receive payment in Canadian dollars. This will transfer the risk onto the other party’s head and will allow matching strategy to be implemented. This may not be possible for the smaller parties that owe Clearwater money. Another alternative would be for Clearwater to hedge their currency positions through investing in gold. It has been a common business practice for many years to use gold or other precious metals to hedge currency positions. The company could consider keeping gold in their portfolios to guard against economic downturns. As the seafood industry is  an industry that is primarily based on international trade, the success of any company in this industry will rely on the way the company manages its foreign exchange risk. Clearwater should expand its foreign exchange management program with qualified financial professional who have years of prior knowledge in hedging currency positions. Operating and Business risk: As compared to its competitors FPI and American Seafoods Group, Clearwater offers more high-value seafood products with higher prices. Therefore it is highly unlikely that the company has the ability to pass on any increases in fuel prices to their customers, without a negative impact on their profit margins. It is recommended that the company buys a fuel swap to hedge against fuel prices. In addition to that, the company could also consider buying a fuel call option. If the price of fuel increases, the company will receive a return on the option that offsets their actual cost of fuel. In terms of expanding its market, I believe that Clearwater should look into entering the Chinese market in the future. The increasing demand for high-value seafood in China has been fuelled by its growing middle class. The company could market its seafood products as being fresh and natural to beat the local Asian aquaculture competitors who currently dominate that market. In order to fund the fuel hedge as well as the China marketing cost, it is advised that Clearwater sell off surplus TACs. Clearwater currently owns the highest percentage of TACs in Canada. It is recommended that clam TACs be sold as Clearwater currently has full TAC ownership of clams with the largest quota of 44,000. However clams only make about 15.6% of the company’s sales which suggest that the profit margins on clams is relatively small compared to scallops or lobsters who have sales percentage of 31.3% and 22.5% respectively and TAC quotas of 10,275 and 720 respectively. I believe it is logical to make a small sacrifice to gain funding to hedge volatile fuel cost as well as fund marketing costs into a new segment. Greater good is expected at the cost of a small sacrifice. As the company currently faces difficulty in the foreign exchange market, this way of funding ignores currency rates as Clearwater will be selling their TACs to other Canadian companies which would be paying for the TACs in the Canadian dollars.