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Essay Writing Technique

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Financial Analysis of a Portfolio - 1760 Words

Overview From September 3rd, 2015 to October 28th, 2015, our group was given the opportunity to manage an investment portfolio, with the goal of maximizing the value of the portfolio through acquiring, holding, and selling stock. The beginning cash balance of the portfolio was $100,000, and our group had the ability to make up to 500 trades. During this time period, our group made 20 stock purchases and sold stock twice. At the close of business on October 28, 2015, the value of our group’s portfolio increased from $100,000 to $106,785.33, yielding a return of 6.78% (((106785.33/100,000)-1) x 100)). In comparison to the SP 500 returned at 7.16% and the Dow Jones having a return of 8.65% (Yahoo). Strategy We attempted to build a†¦show more content†¦Home Depot’s stock posted a beta of 1.01, which means the stock moved almost identically with the market. With this blend of volatile and less volatile stocks, the group was able to take some chances while still anchoring our return to the market to ensure a competitive return. Further, our strategy involved paying attention to current events and attempting to use them to generate a return. For example, Horizon Pharmaceuticals’ stock price took a nosedive after an October 19th New York Times article suggested that Horizon was attempting to thwart Express Scripts’ attempts to lower the price of prescription drugs. The decision was made to buy 100 shares of stock in Horizon when its price spiraled down to a measly $14.62 per share, as we expected Horizon would do something to stop the bleeding, and historically has been a pretty volatile stock. Horizon came back with a scorching rebuttal in an open letter later that day, spiking its stock price more than 30% on October 23rd, and by October 28th, this move landed us our greatest return of any stock that we purchased and held until the end of the period: 18% (see appendix). One sale that the group made over the two months was on October 12, when we sold 25 shares of Amazon stock. When the stock was sold it was worth $550.19, which was up $30 from when it was bought. The group decided to sell the stock at this point as, it had netted a decent return andShow MoreRelatedBenefits Of The Financial Services Industry Outweigh The Disadvantages1396 Words   |  6 Pagestendency and a method for people dealing with their income, while portfolio is an important investment vehicle. In the same time, financial services industry has played a critical part in making investment portfolio available to ordinary people. In this essay, the meaning and functions of portfolio will be analyzed and it will argue the advantages of the financial services industry outweigh the disadvantages. Firstly, portfolio theory has become an essential strategy in the modern investment marketRead MoreEssay on Risk and Return Analysis for Efficient Portfolio Selection 892 Words   |  4 PagesRISK AND RETURN ANALYSIS FOR EFFICIENT PORTFOLIO SELECTION Keywords: Efficient allocation, Risk and return, Return on investment, Expectations, Investment 1. INTRODUCTION All investment decisions necessitate consideration of the required return, the expected return, and the estimated risk. Markowitz (1952; 77) states the process of selecting a portfolio may be divided into two stages. The first stage starts with observation and experience and ends with beliefs about the future performances ofRead MoreModern Portfolio Theory Adaptations ( Pmpt )1267 Words   |  6 PagesModern Portfolio Theory Adaptations MPT correlates the distribution of assets to the risk of investments. This theory also acknowledges an investors aversion to risk and required return rates (Geambasu, Sova, Jianu, Geambasu, 2013). Moreover, MPT emphasizes the importance of diversifying as much as possible to eliminate risk. In order to measure the risk of an investment MPT relies on the standard deviation of all returns (Chambers, 2010). However, due to new analysis suggesting that MPT producesRead MoreVertex Case Study1271 Words   |  6 PagesVertex RD portfolio Decision Joshua Boger, CEO of Vertex has to decide on two out of four RD portfolios that are to be fully funded by Vertex and to decide on the fate of the other two portfolios i.e. whether to partner or hold them as backups. In order to decide on the RD portfolio, an objective quantitative analysis might not be suitable considering the high levels of uncertainities and consequently the risks involved in pharmaceutical research projects. It is important to have a qualitativeRead MoreThe National Youth Organization s Change Initiative1729 Words   |  7 PagesOrganization’s change initiative to accomplish the president’s goals. The work will be divided into three sections and present a two-stage plan for successful change. The first section will discuss and provide the concrete groundwork strategy of a portfolio analysis for changes within the organization - as reflected to the organization’s board composition and the organizational culture. The second section will provide examine the two stage of the plan which will present a prescriptive framework of centralizationRead MoreEvaluation Of An Organization s Utilization Of Targeted Recruitment1190 Words   |  5 Pagesconform to, or up set the cultural ecosystem of the All Stars Project (Robbins Judge, 2009). In short, the cultural and financial benefits of the selection practices philosophy and targeted recruitment recommendation will maximize the All Stars Project’s performance ability and financial stability (Hexom, 2015; Robbins Judge, 2009; Worth, 2014). Recommendation 5: Portfolio Analysis Matrix At this stage in the framework the organization’s mission, vision, values, and culture should all be in alignmentRead MoreAnalyzing The Concept Of Zeta Score And The Details It Includes?1582 Words   |  7 Pages1. Expound on credit analysis. Use the concept of zeta score and the details it includes? Credit analysis is the process of examining the creditability, credit history and financial situation of client or potential borrowers. The banks or moneylenders to ensure safety of their money use this process. At the same time, bond portfolio managers or investors to debt issuing companies on the basis of their credit rating and financial situations also define credit analysis as investigation process thatRead MoreProject Portfolio Management1298 Words   |  6 PagesProject portfolio management:- A competitive advantage for organizations now is doing the right projects and making sure that there are resources to complete those projects. Project Portfolio Management (PPM) is a set of business practices and a process that allows organizations to manage projects as a strategic portfolio, ensuring the alignment of programs and projects with organizational objectives. Executives need to regularly review entire portfolios and programs, determine why projects areRead MoreCase Study Of Finance Myntra As A Training Provider For Stock Market Analysis Essay726 Words   |  3 PagesMyntra is a training provider for stock market analysis. Its founders being Gurjant and Dikshita started this institute (earlier it was known with name creating wealths) with a vision and mission in May 2012. Finance Myntra started their financial literacy program from tricity and now they are established in Punjab and himachal along with tricity (Panchkula, Mohali, and Chandigarh). Gurjant Singh, Co-Founder of Finance Myntra gave up his job as financial analyst from a reputed company with a 10+ yearsRead MoreThe Value At Risk Management1219 Words   |  5 Pagespeople who have invested or are considering investing in any financial asset, ask at some point in time the following question: What is the most I can loose on my investment? The Value at Risk, commonly known as VaR, tries to answer this question within a reasonable bound. VaR is used in financial mathematics and financial risk management as a risk management tool to measure the risk of loss of an individual asset or a whole portfolio. Although it provides a good sense of risk one is undertaking

Techniques For Multicell Cellular Networks -Myassignmenthelp.Com

Question: Discuss About The Techniques For Multicell Cellular Networks? Answer: Introduction This report is all about Wombat phone which is a startup mobile company (Scott Davis, 2015). Various customer visiting this new mobile company reviewed that the staffs are behaving in a rude way to their customer and even misleading them with wrong information (Di Silvestre et al., 2013). There are certain areas in the new organization that needs improvisation (Bhagat, Samanta Bhattacharya, 2013). Manager of the help desk of this mobile company that is wombat phone needs certain tools which can help his team leaders to do certain task that sometimes fall outside workflow of the management (Scott Davis, 2015). Asset management mainly involves in support of many groups. Various help desk application offers different type of features to client. Service management mainly focuses to manage configuration and information of asset with the help of desk packages which have feature to manage various kinds of contracts of service and various agreement (Bhagat, Samanta Bhattacharya, 2013). Discussion This report is all about Wombat phone which is a new mobile company (Noh et al., 2013). As the days are passing the firm is reviewed from bad to worse by various customers (Ceipidor et al., 2013). There are certain agents in the help of this company who provide wrong and misleading information to its customers (Ceipidor et al., 2013). The report mainly focuses on the good and efficient management of a help desk by using methods like ticketing everything and maintaining a customer loop (Ceipidor et al., 2013). Asset management Manager of the help desk can help a lot to staff as well as to the customers of this organization named Wombat phone (Du, Darkwa Kokogiannakis, 2013). Asset management can be helpful for supporting various groups as it helps in keeping a track of various things like hardware devices and peripherals, license of various software packages, network components and various equipments related to it. (Du, Darkwa Kokogiannakis, 2013). Help desk application can be helpful as it offers various assets and control of inventory (Noh et al., 2013). These techniques are mainly designed to help the various staff to manage assets of various organization (Du, Darkwa Kokogiannakis, 2013). They are mainly involved in keeping a track of various domains of organization that is hardware devices, packages containing licenses of various software and network component and various task related to it. These techniques are mainly designed to help the various staff to manage the asset of different organization (Scott Davis, 2015). Service Management Many organizations mainly outsource various peripheral hardware and its repairing to many outside vendors (Laudon Laudon, 2016). In addition to the management of asset information and its configuration which can be financial to various desk packages which include various features to manage the contracts of various hardware devices with agreement (Di Silvestre et al., 2013). Many times organization outsource the hardware and maintenance of various peripheral devices and making the repairing to outside vendors. Conclusion From the above discussion it can be concluded that Wombat phone is a new mobile phone company which needs a variety of upgradation in the field of customer service (Rao Fapojuwo, 2014). There are some staff in the organization who provides wrong and misleading information to various customers (Di Silvestre et al., 2013). So the help desk need to be improvised to provide better service to customers. Adopting certain measures like service management and asset management can be proved beneficial to this organization (Rao Fapojuwo, 2014). Transparency with various customer through progress and upgradation can be proved benficial for drawing attention of various customer to ongoing work done by staffs for them (Rao Fapojuwo, 2014). References Bhagat, D., Samanta, S. K., Bhattacharya, S. (2013). Efficient management of fruit pests by pheromone nanogels.Scientific reports,3. Ceipidor, U. B., Medaglia, C. M., Marino, A., Morena, M., Sposato, S., Moroni, A., ... La Morgia, M. (2013, February). Mobile ticketing with NFC management for transport companies. Problems and solutions. InNear Field Communication (NFC), 2013 5th International Workshop on(pp. 1-6). IEEE. Di Silvestre, M. L., Sanseverino, E. R., Zizzo, G., Graditi, G. (2013). An optimization approach for efficient management of EV parking lots with batteries recharging facilities.Journal of Ambient Intelligence and Humanized Computing,4(6), 641-649. Du, D., Darkwa, J., Kokogiannakis, G. (2013). Thermal management systems for Photovoltaics (PV) installations: A critical review.Solar Energy,97, 238-254. Laudon, K. C., Laudon, J. P. (2016). Management information system. Pearson Education India. Noh, J. H., Im, S. H., Heo, J. H., Mandal, T. N., Seok, S. I. (2013). Chemical management for colorful, efficient, and stable inorganicorganic hybrid nanostructured solar cells.Nano letters,13(4), 1764-1769. Rao, J. B., Fapojuwo, A. O. (2014). A survey of energy efficient human resource management techniques for multicell cellular networks.IEEE Communications Surveys Tutorials,16(1), 154-180. Scott, W. R., Davis, G. F. (2015).Organizations and organizing: Rational, natural and open systems perspectives. Routledge

The Woman in black The Fortune theatre Essay Example

The Woman in black The Fortune theatre Paper This is a ghost play by Stephen Mallatratt. The play sees the elderly Arthur Kipps, played by Pip Donaghy, attempt to exorcise the ghosts of his past by having a young actor, Colin Hurley, portray his experiences on the stage of a currently empty theatre. The set and lighting that was used during the play was very basic, this was done purposely because the lay is set in an empty theatre, which is still tidying up after a past production. The main items used during the play were visible from the outset. There was a large wicker basket, a stool, two wooden chairs and a clothes wrack. Seeing as these items had to be used to portray most items and settings, the lighting would have to be used cleverly, and it was. It enhanced the simple set and added to the illusion of place and created an atmosphere. The lighting and sound in the following places was; London office- A low and dull light with sound =s of horse and carriages trotting past outside. A ticking clock was cleverly used to create an office feeling. Tomes had his room down stage right in this scene. Kipps Young Kipps Tomes room Train-Different chairs were used to give us an idea of the three trains comfort. A big comfortable chair and warm lighting was used in London to show optimism, where the wicker basket and cold lighting were used on the final train to create an ominous feeling, this train was ancient and comfortless. A clever piece of lighting was also used in this scene. It was a revolving gobo to create the look of the train going through a tunnel. Tannoy announcements between trains to create atmosphere. Hotel- Busy bar sound effect, which went quiet with the mentioning of Alice Drablows name. We will write a custom essay sample on The Woman in black The Fortune theatre specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Woman in black The Fortune theatre specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Woman in black The Fortune theatre specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Church- A laundry basket was the alter and it was positioned upstage centre. Footsteps of coffin bearers are heard as well as a vicars voice as he gives the funeral sermon. A gobo of a cross is projected upstage centre where it is thrown onto gauze. In the Churchyard a leaf gobo is projected onto the floor to represent the outdoors, sounds of crows are heard which is unpleasant and gives an anonymous feeling, vicars voice is still heard as coffin goes into ground, vicars last words, ashes to ashes, dust to dust. Outside eel marsh house- A gobo of the house has been projected onto the first gauze. The gobo represents an unwelcoming, doted mansion (this gobo is shown every time a scene is set outside eel marsh house) he is quoted as saying A tall gaunt house. Inside eel marsh house- A musty yellow lighting, the sound effects are the door slamming every time Kipps enters, whilst Kipps is looking through the house a grandfather clock is heard ticking, this creates suspension. One of the best scenes for visual acting was scene 7. this was the horse and trap scene. It was good because even though all the actors had to work with was an old wicker basket, they managed to create the image of two people riding in a carriage. They did this by bobbing up and down and swaying from side to side. They also shouted things like giddy up and made a whipping action towards the horse. Everything they did was supported by sound effects. The lighting in all scenes was good as it created the places and made us feel as if we were actually there. These were; the gobo of Eel Marsh House, a tall dark and eerie building that created a feeling of discomfort. And a cross (crucifix) to represent the inside of the church, along with a leaf to represent the outside. The set behind the two gauzes was brilliantly concealed and surprised us when it came into the play. One section behind the play was used to represent two settings. The cemetery and the childs bedroom. Covering the bedroom furniture with old dustsheets that you would have found in a theatre during a production, created the cemetery. The period that child died was late 19th century and the furniture represented this. It was mahogany and very expensive. There was padding on the rocking chair, which was red to symbolise blood. The toys and clothes are neatly stored and folded for the little boy, this shows that even though he was dead, Jennet and Alice still cared for it and one of the dolls was a golliwog, which also shows period as they would probably be banned if brought put now. The Music box played Swanlake. There was an even bigger shock in act two when we saw it in disarray after Jennet had vented her anger at not being able to kill Spider, Kipps canine companion in the marshes. This again told us of Jennets deranged State of mind. Second gauze reveals arched stairway, which he walks up revealing his silhouette. This was also effective as, again, it was a surprise to see it appear. These were made to appear by the use of the lighting from above shining through the gauze. The use of the second gauze impressed me even more than the first one as when used you could not see the nursery in front of it. Both actors did brilliantly throughout the performance, here is a brief itinerary and description of the parts they played; Acting as old Kipps Pip Donaghy- He walks on very shyly with nose in script, not very confident in his own acting ability (and rightly so! ). He speaks quietly with no emotion (monotonously). We realize how boring and rubbish old Kipps is at acting when he comes back on, this time with a pair of glasses, and speaks with real confidence and moves with prowess. Old Kipps looks the actor in the eye, it must be told he says, to show his age the actor leads him upstairs hand in hand. He snorts instead of sniffs, and walks a bit kift, this is because Tomes is a comic character. Arthur old Kipps now becomes the actor young Kipps boss. Hes now well spoken and clips the end of his words, he now becomes joyous, and laughs as this character, making him seem friendly and approachable. He sits casually and blows his nose, a feat not accomplished with any other characters, he also taps his foot, another sign of happiness. In the first part of the play and he is still reading from the script, however. as mentioned earlier he now wheres glasses, and with this he learns his lines and can act. He now speaks in a well-spoken Yorkshire accent. Holding his head high (confidence) he makes eye contact with young Kipps because he is friendly and bobs up and down. As the barman he is not well spoken, and when young Kipps mentions Alice Drablow he acts shocked and moves away and acting shocked again, starts to stutter and talk slowly. Back as old Kipps and he is now going through various emotions as he watches the play progress from the wings of the stage, for instance when the actor says that he doesnt believe in ghosts he holds his head in despair of his own naivety. He acted Jerome by dropping slightly at his knees to show that he is older than Daily but not quite as old as Tomes. The woman in black killed Jeromes child and when the actor asks who the woman with the wasted face is, Jerome wont look. The actor then asks Jerome if he could find him someone to help with the paperwork at Alice Drablows house, Jerome says you will find no-one suitable shudders and walks away. As Keckwick he is non-communicative, he never looks at the actor and grunts occasionally but when the actor (young Kipps) mentions that he is going to the Drablow house he goes uhhh! In a surprised manor, he also holds the reigns differently to when he played Daily. When the actor is explaining of the death of his wife and kids he hugs himself and looks very upset. DOG They acted the dog by ;- 1- looking down at the same time to show the dog. 2- He (the actor) looked down and shouted here Spider and 3- He tilts his head away from the dogs wet tongue. Acting as The Actor Colin Hurley When we first hear Colin Hurley he has a big loud voice, which he amplifies brilliantly from the back of the theatre, when playing the part of the actor, he is also very confident in doing this. When narrating about his family telling ghost stories he spoke as an excited young child, the line he spoke was, were telling ghost stories. When he went back to being Kipps he spoke quietly and with fear, because he was remembering the woman in black, he also sounded angry and resentful of the fact that people were treating ghost stories as light entertainment, he spoke with real bitterness. When he walks onto the train he walks sideways and dodges air to make it look as if it is a crowded railway station with lots of people. On seeing the woman in black at the graveyard he acts cautiously and scared. When he walks from eel marsh house he panics and collapses in horror of the woman in black and when he realizes that the horse and trap sounds are ghosts he looks terrified with his eyes wide open, eyebrows drawn and tensed muscles. On rescuing Spider he lay flat on the floor down stage right and lent over the edge as if the pit was the marsh. He tenses his arms to show that he is struggling to tug Spider out of the deep pull of the marsh, he eventually pulls spider up and collapses on the stage. When hearing music from the jewellery box, he pauses and focuses on the door to create tension. Acting to show his toddler son Joseph, he puts hand down towards the floor and leans slightly to show hes holding Josephs hand, he took small slow childlike steps. He mimed lifting Joseph by bending down low, putting his hands child width apart and smiled as he put his happy child onto the pony and trap. Later in the same scene he describes his childs death as, crumpled on the grass dead! He pauses to show us how difficult he finds it to speak of this tragic event. He then quietly sniffs as though trying not to cry. I really enjoyed watching The Woman in Black and would recommend it to anyone. The quality of acting was superb and with limited resources in the way of props, they portrayed the obstacles brilliantly, especially the horse and trap (see earlier). The Director Robin Herford, who has directed this play for fourteen years and travelled to Tokyo to direct the Japanese adaptation, wanted the audience to experience the fear of this ghost story through their imaginations and not through the use of special effects, which can be seen far too easily on T. V today.

Alcohol vs Marijuana Essays

Alcohol vs Marijuana Essays Alcohol vs Marijuana Essay Alcohol vs Marijuana Essay Alcohol and marihuanas are two drugs normally used and abused in the United States. Alcohol is the figure one abused drug. while marihuana is figure one among illegal drugs. While intoxicant remains legal. and marijuana illegal. this does non needfully intend that intoxicant is better for you. There have been many statements where people suggest that marihuana should be legal because intoxicant is more lifelessly. On the other manus. there are alkies who would state a pothead that smoking weed is bad for you. Both substances are really bad for your wellness and should non be to a great extent used by anyone but we do need to be a small more hapless to the people that do drugs because you don’t cognize what they go through in life. Although. Marijuana has such a bad repute Marijuana is one of the most common drug today and its besides complete. But what precisely is marijuana? Marijuana is a green. brown. or grey mixture of dried. chopped foliages. stems. seed. and flowers of the hemp workss. There are a batch of names for this drug and they are: pot. herb. weed. grass. roar. mary jane. mobster. or chronic. Marijuana has been around for many old ages and has been thought to be illegal and harmful. But marijuana has been used for medical grounds. including: medical specialty. hemp rope. crude cloth and enjoyment. Why do immature people use marijuana? There are many grounds why they do that and most immature people smoke marihuanas because their friends or brothers and sisters use marihuana and coerce them to seek it. others may believe its cool to utilize marihuanas because they hear vocals about it and see it on Television and in films. Some teens may experience they need marihuanas and other drugs to assist them get away from their jobs at place. at school. or with friends. Alcohol is a drug that is classified as a cardinal nervous system sedative. There are three signifiers of intoxicant. beer. vino and distilled liquors. Alcohol is one of the most normally used drugs in the United States and has more inauspicious effects that most other drugs combined. There are many facets to see when believing approximately intoxicant as a drug. There are many myths environing intoxicant. including who uses it. what its effects are on users. societal and sexual state of affairss and the sums people drink. The huge bulk of the American population uses intoxicant and in many assorted ways and this besides causes different effects. Alcohol is besides has a great causing in offenses committed by users. societal. medical. and educational jobs as a consequence of usage as good. Marijuana and intoxicant are similar in many ways because weed and alcohols seems to fulfill most adolescents in today’s universe. Some of there similar effects are that they both make you really hungry and sleepy and they both make you escape from world. When I say they both make you escape from world I mean that most people drink in fume because they are traveling through something and they merely don’t want to believe about it any longer and that’s how they escape from world. If they were to acquire rid of marihuana and intoxicant I think that would be really formidable. As you can see marijuana and intoxicant are the most common drugs used in today’s society but does that do it right for everyone to make them? Should alcohol be illegal since marihuana is illegal or should they both be legal? Those are some of the inquiries you have to inquire yourself because merely because your friends are imbibing and smoking doesn’t mean you have to imbibe and smoke besides. jus be above the influence!

Internet forum should be more strictly controlled for the entries Essay

Internet forum should be more strictly controlled for the entries because internet forum can encourage harmful and misleading news - Essay Example Therefore, there is need to control the internet forums by imposing strict regulations on its usage. However, controlling the internet forum may attract criticism as people may feel that this is one of the laws limiting the public freedom, which the constitution grants. In reality, Internet forum should be more strictly controlled for the entries because internet forum can encourage harmful and misleading news. Internet forums refer to any forms of internet channels that are responsible for providing information to the access of the public. They may include any official internet news sites or even social networks that provide information to the public. The issue of controlling the internet forums is a concept that has for long drawn attention from many scholars. Controlling internet forums refers to the imposition of strict measures against its abuse in providing information. In the era of internet technology, many internet forums have emerged, making it entirely a big challenge to control the information that is relayed through these channels. While there is evidence that these forums are informative, it is clear that they can be used to relay raw information that may be untruthful, hurtful or even misleading. Misleading information refers to any material facts that may influence negatively the reaction of the people or even bring about a controversy. However, several policies have been p ut into place as a control mechanism for internet use. For instance, â€Å"regulations would force Internet companies to apply for a license if theyre running a microblog or forum† (Shalvey 1). Due to the sensitivity of information, it is crucial that every information that is relayed through these channels be reliable and truthful. Misleading information may have far reaching effects to the receiver or even to the world. In many occasion, the news items report different information, putting people in

Proffecional report on ethical behavior and unethical behavior Assignment

Proffecional report on ethical behavior and unethical behavior articles - Assignment Example It studies what factors make the system ethical or unethical. It also aims to highlight the issues which prevail in the society and how they are effecting the environment and system of any nation. The Global business standard code is a code of conduct based on code of ethics. It helps to understand the regulation of any system internally and externally on ethical laws and codes. It is a principle of 8 codes which focus on responsible practice of ethics in any system. It’s not a one sided plan; but a complete code which applies on both authorities and underworkers. Evaluation and Assessment of the Article Article 1 summery (unethical) The Dowager Queen of Belgium is reported to have evaded 70% of bereavement duties by channeling the finances to her relations through a foundation. The Queen, Fabiola, has been getting an annual public reward from Belgium from the time when the King Baudouin, her spouse, passed away in 1993. The unpleasant incident now causes upheaval given the cu rrent economic state of the bulk of European nations. Like the majority of European states, Belgium has laid down plans underway to cut back on public spending and monarchs within the European states have been criticized for their copious public expenditure. The Queen insists that she wasn’t placing publicly funded payment within the charity. She said that fund â€Å"would only include her private money.† She further claimed that the lone costs that were covered by the payment were housekeeping costs, together with salaries. Belgium wants to cut the annual stipend of Queen Fabiola after political leaders learned she had put up a private charity to provide for her nephews and nieces and for her preferred Catholic foundations after her demise. Premier Elio Di Rupo had told MPs he sought to cut the sum to â‚ ¬923,000 (?776,000) back from â‚ ¬1.4 million (?1.18m). As the only widow of the late King Baudouin – a dedicated Catholic who in 1990 did step aside pro visionally to steer clear of signing the nation's abortion bill – insists the cash came from assets inherited from her Hispanic family. The 84-year-old at the moment maintains that she has had to dissolve the charitable vehicle set up in September that let her to forward monies. The surfacing of the plan not many weeks ago aggravated rare fury in both political and media circles in Belgium and has hit the realm to its foundations. The Property Principle and The Citizenship Principle were not respected by the monarch in her dealings with the state. Evaluation over GBS codex: This is an unethical article over the realities of the story when we see it as a system; evaluating it over Global Business Standards Codes we can classify it as an unethical one. Out of eight components of GBS codes which fit over the story are first The Transparency Principle and Fiduciary principle because being the Queen she has the duty to do charity and help poor whereas it has been reported about he r that she had been ignoring about 70% of the bereavement duties she is supposed to do. She furthermore had been controlling and channelizing the finances to a foundation she made and didn’t announce publicly; which basically is going to benefit her own relatives. All this tells that she had been ignoring the Transparency and Fiduciary principles according to GBS codex. The Queen Fabiola has an annual

The Chicago Police Department Essay Example for Free

The Chicago Police Department Essay The organizational situation that will be the focus of this paper is the recent appointment of a civilian Superintendent of Police at the Chicago Police Department. It has been over fifty years since a civilian was appointed as â€Å"top cop’ in the City of Chicago. Unfortunately, three of the last four police superintendents have left their position under scrutiny or an ensuing scandal. In 2006, the mayor of the City of Chicago Richard M. Daley publicly announced that a nationwide search for the next Chicago Police Superintendent will be conducted. After a seven month search, the front runner was a 35 year veteran of the Chicago Police Department (CPD). Mayor Daley’s decision to re-evaluate the participants and continue the nationwide search for the position of superintendent proved to be a major blow to police morale. Ultimately, the mayor appointed retired FBI Director Jody Weis as Superintendent of Police. The Superintendent is the commanding officer for the CPD. Under the direction of the Superintendent, the CPD is organized into the First Deputy’s Office and five bureaus each commanded by a Deputy Superintendent. The five bureaus are Investigative Services, Patrol Division, Strategic Deployment, Crime Strategy and Accountability and Administrative Services. Within each of these major operating units are patrol officers, investigative staff, support staff and administrative staff. There are approximately 120 subunits which work under these six operating units. There are approximately 13,400 sworn personnel and 1,850 civilians employed by the CPD (Chicago Police. org n. d). The Chicago Police Department’s patrol and investigative geographical area are broken down into five Investigative Areas (1-5) and each area is broken down into 25 local police districts (1-25). Each district is broken down into beats numbering anywhere from 12-15 beats per district. The CPD is entering a new era of police administration and will undergo major restructuring as a result of police corruption and misconduct, political pressures, and a loss of community trust. According to Bolman and Deal (2003), â€Å"restructuring is a challenging process that consumes time and resources with no guarantee of success† (p. 83). Organizations usually embark on a path to change when they feel compelled to respond to major problems or opportunities (Bolman Deal, 2003). Unfortunately in the case of the CPD, major problems are the cause for change. Reorganization is often the first step a new leader makes to leave his stamp on the organization. The CPD is an old fashioned public bureaucracy that has remained stagnant in its operation for over fifty years of â€Å"insider† control. Promotion from within the ranks is expected. The appointment of an â€Å"outsider† is an effort by the mayor to shake things up with a focus of weeding out misconduct and corruption. Holloway (2002), defined police corruption â€Å"as the abuse of police authority for personal or organizational gain† (p. 1). The CPD has had its fair share of corruption and official misconduct. Externally, acts of police misconduct can be reported by those affected to a civilian investigative organization or to an internal police unit known as Internal Affairs. Internally, acts of police misconduct and corruption may be dramatically under-reported if reported at all. According to Ivkovic (2003, when a police administrator engages in reform and invests resources for the purposes of corruption control without having all the necessary information regarding the extent and nature of the corruption, the administrator will most likely be fighting a â€Å"losing battle† (p. 594). This losing battle in fighting corruption is the main issue that Jody Weis will encounter in his new position. Weis is seen as an â€Å"outsider† and even worse, an ex-federal employee. When a police officer is accused of committing acts of misconduct or corruption, the officer is likely to face federal charges and placed under arrest by a Federal Agent. Weis is considered an enemy, and unless he is part of the inside police culture, he will never have full access to internal police information on the existence of misconduct or corruption. The complex phenomenon of police corruption needs to be addressed from an ethical and moral standpoint. To truly address the problem, it is necessary to work not only with the officers and the community, but also with professional policing organizations† (Johnson Cox, 2004 p. 67). The lack of community trust is a major factor in restructuring the CPD. Community policing was the first major step in forming a collaborative partnership with the community. It allowed the police and community to work side by side to help each other to save neighborhoods from crime and disorder. Ethics, morals, and professionalism are just a few ways in which the communities trust can be gained. Johnson and Cox (2004), defined â€Å"ethics as the moral behavior of an individual or group in its surrounding† (p. 69). Northouse (2007) further added that â€Å"ethics concerns itself with the morals and values that the society or an individual finds appropriate† (p. 342). A 1996 study by Delattre, (as cited in Johnson Cox, 2004) contends that those who maintain a position of public authority and trust should prescribe to a higher level of moral standards than civilians. The community deserves the right to feel safe and protected. The community is a powerful force that can organize and demand change by putting pressure on the elected officials. Political pressure is the last of the four factors that affected the change needed in the CPD. The appointment of the Superintendent of Police was orchestrated by the mayor of the City of Chicago. The mayor stated that the CPD was in desperate need of a â€Å"change agent. † The mayor was looking for someone that was going to restore the communities trust in the CPD and institute organizational change. The â€Å"politicos† were not happy with an â€Å"insider† being promoted to Superintendent of Police. Political pressures dictated that the search for a Superintendent of Police continue. Following the appointment of Jody Weis, major organizational and personnel changes were instituted. One of the most critical factors that affected the actual implementation of the change was the change of personnel. After approximately two months of being on the job, Weis removed and appointed 21 of 25 new District Commanders and replaced numerous exempt rank Deputies and Chiefs of units. Never in the history of the CPD had anyone made such drastic and unpopular changes. The changes in personnel were made by use of the Chicago Police Department’s meritorious promotion system. This system had for a long time been associated with political clout and nepotism rather than true merit. According to Boseman (2008), leaders are given the opportunity to lead not because they are merely appointed by managers, but because they are seen as leaders. On the contrary, Leonard (2003) contends that many employees select future leadership primarily for their technical skills rather than their interpersonal or people leadership skills. Faced with the current status of the CPD, change was inevitable. With change comes resistance to change. The leader must have a plan to institute change and remedies to quell the fears of change (Kouzes Posner, 2002). Conclusion A basic assumption throughout this analysis has been that the CPD is in need of major policy, procedures, programs, and organizational change. A strong argument in favor of this point is the low police morale and community distrust of the CPD. Adhering to the basic principles of the police code of ethics and moral values, police can create a service based on consent and participation. Overall, the transformational leader must create a vision, get subordinates to buy in, and manifest honesty and integrity. The problems that affect the CPD are not situations that can be easily fixed. Over time, hard work and a dedicated collaborative effort between an enthusiastic leader and the community can bring about change. Further research is needed in the area of the complex phenomenon of police corruption. Change can be a good thing.

Arctic and Alpine Soils Essay -- Argriculture Research Papers

Arctic and Alpine Soils Proposal (Ant)arctic (high-latitude) and alpine (mountain) areas are affected by relatively similar climates, as latitude and altitude produce similar meteorologic effects. In these geographic regions where temperature is at such a pronounced extreme, climate would seem to be the leading factor of soil development. It is my goal in this research paper to answer the following question: How do the soils of arctic and alpine areas differ? This idea, taken largely from an abstract by Birkeland (1975), will be explored through the comparison of the soils of these two geographic regions, and an analysis of the soil development factors in those environments. Introduction Both high-latitude and high-altitude regions are subject to climates that are dominated by extreme cold for at least part of the year. This extreme characteristic creates within these regions a stark environmental contrast to most other geographic regions of Earth, pairing with climate a different and uncommon set of geomorphologic features on the thin surficial layer of the planet. Dokuchaev (1886 & ca. 1900; and 1899, as quoted by Afanasiev (1927); and Gerasimov (1956), respectively) made progressive early studies in soil science in the Caucausus Mountains and in Arctic Russia and applied a theory that drew an analog between vertical and horizontal zonality. He observed that biota and temperature changed drastically at increasing elevations in much the way that the same characteristics vary with increasing latitude. Dokuchaev then extrapolated that the variation in biota and temperature would also indicate similar changes in soil types, but did so without sufficient observed suppor t. While this hypothesis was a brilliant step in ea... ... problem. Biul. Peryglacjalny (Lodz) 22:285--294. _______. 1973b. Soils of the polar region of North America. Biul. Peryglacjalny (Lodz), 23:157-165. _______. 1977. Soils of the Polar Landscapes Rutgers, the State university of New Jersey. 637 pp. Tedrow, J. C. F. et al. 1958. Major genetic soils of the Arctic Slope of Alaska. J. Soil Sci. 9:33-45. Ugolini, F. C. and Tedrow, J. C. F. 1963. Soils of the Brooks Range, Alaska 3: Rendzina of the arctic. Soil Sci. 96:121-127. Walton, G. F. 1972. The high arctic environment and Polar desert soils. Ph.D. thesis, Rutgers University. 479 pp. Williams, P. J. 1957. The direct recording of solifluction movements. Amer. J. Sci., 257:481-490. Zakharov, S. A. 1927. Achievements of Russian science in morphology of soils. Russian Pedological Investigations, Soviet Acad. Sci. (Leningrad), Chap. 2 (47 pp.).

Questions and Answers on Psychological Health

according to Adler, both psychological health and neurosis starts from feelings of Inferiority with the final goal of superiority. In the development path to psychological health, one strives for perfection or completion In accordance to social Interest. They strive to become better people while cooperating with others. In contrast, the path to neurosis Is when one acts In his or her own personal superiority.They see people as enemies or obstacles standing In the way of their goal. This Is the destructive path that leads to neurosis. Adler believes that healthy people strive for perfection/ completion and the only way towards that Is cooperating with others so we all can benefit. 2. What is social interest and how Is It related to psychologically healthy development? Adler defined social interest as â€Å"a striving for a form of community which must be thought of as everlasting, as it could be though of if mankind had reached the goal of perfection. In other words, he believed that all human beings an inborn instinct to live in harmony with others to create a more perfect society. Adler believed that to see this come alive, we must be on a constructive path to psychological health. As previously stated, psychological health involves cooperation with society by helping each other grow into more â€Å"perfect† or â€Å"complete† individuals. 3. What are the four major lifestyles or personality types, and what are the differences between them? The four major lifestyles/personality types are ruling/ dominant, getting/leaning, avoidance, and socially useful.The ruling/dominant type was probably neglected during their early stages of life and as an adult shows intense defense mechanisms to protect their self-image. The getting/leaning type was typically spoiled by their mother and as an adult show high level of aggression. The avoidance type was typically looked down by their mother and showed no support for their goals. These types of people grow up to be socially distant with an Inferiority complex. The socially useful personality will have a high social interest In living in harmony with others.This is the only non-faulty personality type. 4. Based on research, what are some arguments showing that a person's order of birth does have an impact on his/her development? Recent research show that first born are more likely to be national merit scholarship winners, college graduates, graduate students, university faculty, scientists, and US Senators, US Representatives, and state governors. In addition, they are more likely to have type A personalities. Only children are similar to first born except for that they are more sociable and cooperative.The youngest children are more likely to be pampered by their parent's, which leads to a quick gratification pattern. Questions and Answers on Psychological Health By Ernestine 2345 1 . What is a developmental path to psychological health? To neurosis? Inferiority with the final goal of su periority. In the development path to psychological health, one strives for perfection or completion in accordance to social interest. They neurosis is when one acts in his or her own personal superiority. They see people as enemies or obstacles standing in the way of their goal.This is the destructive path completion and the only way towards that is cooperating with others so we all can benefit. 2. What is social interest and how is it related to psychologically healthy differences between them? The four major lifestyles/personality types are ruling/ for their goals. These types of people grow up to be socially distant with an inferiority complex. The socially useful personality will have a high social interest in living in and state governors. In addition, they are more likely to have type A personalities.

Competitive Challenge Nike - Free Essay Example

Sample details Pages: 25 Words: 7539 Downloads: 4 Date added: 2017/06/26 Category Statistics Essay Did you like this example? With widely globalization movement, managers in MNCs have to be continually involved into the challenges that mainly include competitive and collaborative challenge. Facing the challenges, Nike has always been a leading sports product organization. Thus, it is meaningful to analyze Nikes global success which will benefit from obtaining relevant international management issues. The aim of this project is to reveal Nikes competitive advantages in global market and especially focus on company strategies in Chinese market. In order to achieve practical guidance, some theoretical tools will be adopted. Don’t waste time! Our writers will create an original "Competitive Challenge Nike" essay for you Create order The project will firstly introduce a literature review which provides the underpinning and explanation of these analysis tools. In the following, Nike company analysis will be discussed into four aspects. The first aspect will examine the national business environment of Nike in the USA by using Porters diamond. In the second and third section, Bartlett and Ghoshals theory will be used to analyze both the competitive challenge and the collaborative challenge of Nike in China. Hofstede culture dimensions will be adopted to analyze the cultural challenge Nike is confronted. Finally, it comes to the conclusion. 1.2 Company overview Through an investment of $500 each by Phil Knight and Bill Bowerman, the company (then called Blue Ribbon SportsBLS) was founded in 1964.It has evolved from an importer and distributor of running shoes to the world biggest leader of athletic footwear. Our business model today is basically the same as our model in 1964.It is that we invest our money in design, development, marketing and sales and then contract with other companies to manufacture our products. Knight developed Nikes business model when he was attending Stanford Business School in the early 1960s.He realized that most leading footwear companies were still producing their own shoes in higher-cost countries like the United States and Germany while he US consumer appliance and electronic markets, were starting to be taken over by lower-cost, high-quality Japanese producers. Knight believed that Blue Ribbon Sports could sell in a lower price by distributing its production to Japanese producers to break into this market. So Blue Ribbon Sports began to import high-tech sports shoes from Onitsuka Tiger of Japan. BLS began to have its own branches of shoes, as sales increased to almost $2 million in the early 1970s. The company officially changed its name to Nike, Inc. in 1978.At the beginning time Nike developed a strong working relationship with two Japanese shoe manufacturers, Nippon Rubber and Nihon-Koyo, but as a combination of a tighter labor market, the impact of the first Oil. Crisis on Japans economy, and a shift in the dollar/yen exchange rate in the 1970s, Nike began to search for other producers. Nike established its ow n shoe factories in Maine and New Hampshire to develop a reliable and high-quality production to supply its growing domestic market during these same years. The company also began to contact potential suppliers in Korea, Thailand, China and Taiwan. As costs continued to increase in both Japan and the United States, by the early 1980s, and the Korean government created many incentives to develop Koreas footwear industry, Nike closed its US factories and sourced almost all of its production from Asia. In 1982, 86% of Nikes athletic footwear came from Korea and Taiwan. However, costs also began to increase in the two countries. Nike had to urge its suppliers to re-locate search for other owner-cost countries to relocate their operations. Then the company opened up their factories in Indonesia, China and Vietnam. Nike was able to help its lead vendors establish an extensive network of footwear factories throughout Southeast Asia by guaranteeing a number of important orders and by placing Nike employees at these new factories. At the present, Nikes products are manufactured in more than 700 factories, employing over 500,000 workers in 51 countries of which only 22658 are directs employees, the majority working in the United States. Over the years, Nike has broadened its product range. Whereas in 1980, Nike sold 175 different styles of shoes, it offered many different styles in its spring collection. The company has also focused on apparel and sports equipment and expanded its sales to Europe, Latin America and Asia. Last year, Nike made about $9.5 billion in revenues, of which 59% came from footwear sales and 29% from apparel. 2 Literature Review 2.1 Porters national competitive advantage Michael Porter (1990) meticulously introduced a model that intended to answer the questions, why do some nations succeed and others fail in international competition? and why some industries within nations are more competitive than others are in his book The Competitive Advantage of Nations. Porter (1990) states that the sources of competitive advantage can be found in the national diamond, comprising four major economic attributes: factors conditions, demand conditions, supporting industries and firm strategy and structure. Porter believed that the four elements have bilateral impacts, forming a diamond system. Besides, there are two variables: the Government role and opportunities. The opportunity is beyond control, and the impact of government policies can not be ignored. All the determinants comprise a diagram as follow. Factor conditions Factor conditions can be categorized into two forms: Home-Grown resources and highly specialized resources. The first one referred to the original resources from one nation. And the latter one pointed out that a country creates its own important factors such as skilled resources and technological base. In the actual competition, Porter (1990) stated that sufficient in natural resources or low cost factors often result in inefficient allocation of resources. By contraries, local insufficient in factors of production could lead to innovation. Also, resource constraints may encourage development of substitute capabilities. For example, Japans relative lack of raw materials has stimulated miniaturization and zero-defect manufacturing (Grant, 1991). Demand conditions According to Porter (1990), demand conditions in the domestic market provide the primary driver of growth, innovation and quality improvement. A strong domestic market could be seen as stimulation to the firm from being a startup to a slightly expanded and bigger organization. For example, the worlds famous automobile companies like Mercedes, BMW, and Porsche in the case of German have dominated the world when it comes to the high-performance segment of the world automobile industry. However, in German, automobiles with a cheaper price in the market have little competitive advantage. The reasons could be attributed to the demand conditions in domestic market. The Germany market traditionally demanded a high level of engineering performance. Also, the transport infrastructure of Germany such as Autobahns does tend to favor high-performance automobiles. Related and supporting industries The third determinant of national advantage is the presence in the nation of related and supporting industries that are internationally competitive. Based on Porters view, when local supporting industries are competitive, related company will enjoy more cost effective and innovative inputs. Secondly, this effect is strengthened when the suppliers themselves are strong global competitors. Firm strategy, structure, and rivalry Inevitably, the strategies and the structure of the firms play a key role to influence the national performance in particular sectors. Also, competition indeed has a great impact on driving innovation and the subsequent up gradation of competitive advantage. Obviously, domestic competition is more direct compared with the impact of foreign competitors. So the stimulus provided by home national competition is higher in terms of innovation and efficiency. As an example, in the Japanese electronic industry, there are many local competitors (Panasonic, Sony, Toshiba, Mitsubishi and so on) providing intense competition in the domestic market, as well as the foreign markets in which they compete. Governments role Despite the impact from Government policies and regulations do not belongs to the major determinant of national advantage, to some extent, they play an important role on influencing the national system. Porter (1990) pointed out Governments proper role is as a catalyst and challenger. At first, government can provide a basic environment for industry development, since it could invest on infrastructure development, opening up capital channels, training information integration and so on. Also, governments can create new opportunities and pressures through intervene activity. In addition, governmental sourcing could enlarge product demand. What is most important, the government could ensure that the domestic market is under lively competition, avoiding Trust status. Opportunities Opportunities can not be met rectifiable, and one opportunity could influence the four elements to change. Porter (1990) pointed out that, in terms of the enterprise development, there are several circumstances when chances are brought: the basis of scientific and technological inventions, fault emerging in traditional technologies, a sudden increase the cost of production caused by external factors (such as the oil crisis), financial markets or major changes in the exchange rate, market demand surge, the governments major policy decisions and war. In fact, the opportunity is a two-way. It is quite often that new competitors gain an advantage accompanying with an advantage concession of other competitors. And only when enterprise could continually meet the new needs of manufacturers, opportunities will be developed. Flaws in Porters diamond Although Porters model is widely used, it also has a number of critics. Firstly, Dunning (1993) pointed out that there is nothing new in Porters diamond analysis. Dunning commented that a countrys competitive advantages were under the impact of globalization of production and markets. He also pointed out that value generating assets of a country has been taking the form of created assets like human capital instead of the natural assets like land and untrained labor. Thus, Dunning considered that Porters diamond of national competitive advantages was required to be transnational since widespread globalization of the world economy. Secondly, Rugman and DCrusz (1993) stated that Porters diamond underestimated the importance of foreign investment. This model could not adequately explain the competitive advantages of developing countries which heavily depend on foreign direct investment. (Lee, 1998) And they also commented that this model is incomplete for small economics which are not pa rts of the trial nations and is only applicable to triad nations. Thus, they thought Porter only thought over the exports and outward FDI of domestic industries and further neglected the sales abroad by foreign subsidiaries. Whats more, Bosh and Proijen (1992) stated that Porter paid too much attention on the importance of culture while evaluating the international competitive advantages. Meanwhile, Ball and McCulloch (1999) implied that this models evidence is anecdotal without empirical evidence. And it is an ex-post model and has no predictive powers since the number of variables lead to weaken any predictions, in particular inclusion of chance into the equation. To sum up, Porters diamond still is a useful tool to examine competitive advantages although it has insufficient application. 2.2 Competitive challenge MNEs need to create and sustain competitive advantages to overwhelm the competitive challenges from the global competitors. There are a great many of varied prescriptions about selecting strategies to develop advantages. It is argued that one of the successful strategies is to produce products standardized and sell them throughout the market via the same ways (Levitt 1983). On the contrary, some scholars suggest that, rather than single product, a relatively broader product portfolio with products diversity can enable the share of investment (Hamel and Prahalad 1985). In addition, Porter et al (1982) indicted that, to implement global strategy effectively, it needs a number of approaches including exploiting economics of scale via global volume and managing interdependently to achieve synergies across different activities. Two basic types of competitive advantage which are lower cost and differentiation are suggested by Porter (1990) as well. Porter points out that, to achieve competitive advantage, it is necessary for a firm to provide customers with values more efficiently (low cost) or to create greater values and charge a premium price in a more special way (differentiation) than its rivals. By contrary of the above statements, to build up competitive advantage sustainably, MNEs are suggested to achieve three strategic objectives which are global efficiency, multinational flexibility and worldwide learning (Bartlett et al. 2008). However, it challenges almost all MNEs to achieve all of these objectives at the same time. Efficiency can be considered as the ratio of the value of a firms output to the value of its input while Flexibility means the the ability of a company to manage the risks and exploit the opportunities that arise from the volatility of a global environment (Bartlett et al., 2008, p.200). The last objective refers to the ability of a firm to learn from its exposure and opportunities internationally, and to apply the learning in a global environment. For the purpose of building up global competitive advantage, it is suggested three fundamental tools: exploiting differences in sources in sourcing and market potential across countries, exploiting economies of scope and exploiting economies of scale (Bartlett et al. 2008, p.201). Factors which may lead to competitive advantage are indicated by every goals-means intersection indicates (Bartlett et al., 2008). Table 1 shows the varied goals and means to achieve competitive advantage throughout the world. Table 1: Worldwide Advantage: Goals and Means StrategicObjectives Sources of Competitive Advantage National Differences Scale Economies Scope Economies Achieving efficiency in current operations Benefiting from differences in facto costs-wages and cost of capital Expanding and exploiting potential scale economies in each activity Sharing of investments and costs across markets and business Managing risks through multinational flexibility Managing different kinds of risks arising from market-or policy-induced changes in comparative advantages of different countries Balancing scale with strategic and operational flexibility Portfolio diversification of risks and creation of options and side bets Innovation, teaming, and adaptation Learning from societal differences in organizational and managerial processes and systems Benefiting from experience- cost reduction and innovation Shared learning across organizational components in different products, markets, or businesses Source: Bartlett et al. (2008), p203 There are four strategies which can enable exploiting competitive advantage through different goal-means combinations (Bartlett et al., 2008): Multinational strategy achieves most strategic goals by emphasizing national differences. The firms which have adopted this strategy tend to operate business based on local environment. They are flexible and responsive to local environment, but there is a lack of capability to learn globally within these firms owing to the fact that almost all national units operate independently. Based on the worldwide environment, international companies apply all the approaches to create and exploit innovations. This approach is helpful to strengthen the ability of developing innovations and leveraging knowledge on a worldwide basis; however it is challenged by the problem of deficiencies in both respects of efficiency and flexibility. All the means are applied by MNEs which adopt global strategy to realize global efficiency. However, flexibility and worldwide learning this kind of approach may be negatively influenced by this kind of approach. What is more, high sourcing risks may be resulted from the focus of activities of achieving scale economies. The three traditional strategies discussed above respectively possess unique assumptions about how to build up worldwide competitive advantage. Multinational companies emphasize differentiation, international companies focus on innovations, and global companies concentrate on building the best-cost position. It is indicated that a global industry can be more successful than a multinational one in some industries (Yip 1989). Additionally, Yip (1989) also suggested that a balance between overglobalizing and underglobalizing can be found in most successful strategies. Nevertheless, Bartlett et al. (2008) believed that the best strategy should be consisted of syntheses of all these approaches. It suggests that MNEs should adopt the transnational strategies which focus on exploiting each and every goal-means combination to develop layers of competitive advantage by exploiting efficiency, flexibility, and learning simultaneously (Bartlett et al., 2008). Strategic orientation and configurat ion of assets and capabilities vary with the four types of companies, which is shown by table 2. Table 2: Strategic Orientation and Configuration of Assets and Capabilities in Multinational, International, Global, and Transnational Companies Multinational International Global Transnational Strategic orientation Building flexibility to respond to national differences through strong, resourceful, and entrepreneurial national operations Exploiting parent-company knowledge, capabilities through worldwide diffusion and adaptation Building cost advantages through centralized, global-scale operations Developing global efficiency flexibility, worldwide learning capability simultaneously Configuration Of assets and capabilities Decentralized and nationally self-sufficient Sources of core competencies centralized, others decentralized Centralized and globally scaled Dispersed, interdependent, and specialized Source: Bartlett et al (2008), p206 2.3 Collaborative challenge A number of organizations tend to cooperate with other parties such as their suppliers, distributors and competitors, when they believe that it is difficult to develop and enhance the global competitive advantages in the increasingly complex global environment (Bartlett et al. 2008). The strategic alliance is viewed as the most important collaborative strategy, which is to set the cooperative relationships between MNEs and their rivals (Bartlett et al. 2008). Bartlett (2008) stated that strategic alliances had become central components of most MNE strategies The strategic alliances is divided into two categories namely scale alliances and link alliances (Daniels et al., 2007). Moreover, Griffin and Pustay (2005) identified two broad types of the strategic alliance, which includes the comprehensive and functional alliance. The latter one includes production alliance, marketing alliances, financial alliances and RD alliances. The alliances assist of some types such as cooperation agreement, franchising and joint venture (Bartlett et al., 2008). There are some differences between the traditional joint venture and the new forms of strategic alliances. The traditional form seems to be used for a senior multinational firm in an industrialized country and a junior local partner in a less-developed or less-industrialized country. The new strategic alliances tend to serve the organization in industrialized countries. At the same time, the modern alliances concentrate on the development and innovation of new products and technologies rather than t he distribution of existing ones. What is more, the present-day strategic alliances seem not to survive for a long time to contribute for the companies. There are some main reasons that the companies need to set the collaborative arrangement. Daniels et al. (2007) identified two groups of motivations. In the first place, the companies need to consider the general reasons, which involve spread and reduce costs, specialize in competencies, avoid or counter competition, secure vertical and horizontal links, and learn from other companies. The second one is the specific reasons, including gain location-specific assets, overcome legal constraints, diversify geographically, and minimize exposure in risky environments. However, Bartlett et al. (2008) outlined that there are five significant motivated issues to support the building of strategic alliances: technology exchange, global competition, industry convergence, economies of scale and reduction of risk, and alliances as an alternative to merger. Bartlett et al. (2008) also identified the risks and costs of collaboration. The collaborative alliances could create the opportunities for one or both cooperators to enhance the competitive advantages better than other, and there is the risk that collaborating with a competitor might be a precursor to a takeover by one of the final (Bartlett et al. 2008). Therefore, the organizations need to have the capability to manage the cooperated relationship in order to reduce the collaborative risks. There are three dominating challenges namely managing the boundary, managing knowledge flows, and providing strategic directions. However, there are some principles set to estimate which companies benefit most from competitive collaborations. These principles include as: collaboration is competition in a different form; harmony is not the most important measure of success; cooperation has limits; learning from partners is paramount. 2.4 Cultural challenge Understanding culture differences and diversifications is vital for MNCs managers in international business and foreign affairs. In this context, the major task for MNCs is to adapt different culture in different countries effectively and efficiently. 2.4.1 Hofstedes cultural dimensions Hofstede (1980) created five dimensions to distinct countries with their respective culture backgrounds, which are Individualism-Collectivism, Power distance, Uncertainty avoidance, Masculinity-Femininity and Long term-Short term orientation. Power distance Power distance is the extent to which less powerful members of institutions and organizations accept that power distributed unequally (Hofstede and Bond, 1984). Leaders from high power distance countries, for example, Belgium and France, are more likely to enquire the low-level employees to obey their orders blindly. What the subordinates think or achieve for the company is not important. So the authoritarian and paternalistic leadership style could be accepted in these countries. On the contrary, low power distance countries for instance, the US and UK, leaders from these countries should be resourceful democrat. And subordinates expect to be consulted and their advices to be taken seriously. They also consider hierarchy in organizations as exploitation (Yates, 2008). Therefore in these countries participative leadership style could be useful. Uncertainty Avoidance Uncertainty avoidance is the extent to which people feel threatened by ambiguous situations and have created beliefs and institutions that try to avoid this (Hofstede, 1980). In high uncertainty avoidance countries, such as Belgium and Japan, leaders generally do not like uncertainties. They trust on experts and their knowledge, institute many rules to fulfill the high need for security and nearly have no tolerant for deviant ideas (Hodgetts, 2006). Thus, authoritarian and paternalistic leadership style could work in these countries. Conversely, in low uncertainty avoidance countries such as The United States and The United Kingdom, leaders are more of risk takers. Fewer rules are set in the organizations and deviant ideas are to some extent welcomed by the leaders. Therefore, participative leadership style could be popular in these countries. Masculinity Masculinity is defined by Hofstede (1980) to describe a situation in which the dominant values in society are success, money, and things. The other side versus the masculinity is femininity which is also defined by Hofstede (1980) as, a situation in which the dominant values in society are caring for others and the quality of life. Japan has a highly masculinity orientation. (Hodgetts et al, 2006). Leaders with this kind of cultural background are expected to be decisive, firm, assertive, aggressive and competitive culture heroes. Few of them are female. On the contrary, Russia and most of the socialist nations scores low for this dimension, such as China and France (Brandley, 1999). To support the needs of the workers and their families is the most important role of the manager with in these countries. They are employees like others. Individualism Individualism is the tendency of people to look after themselves and their immediate family only. (Hodgetts et al, 2006) The opposite side versus individualism is collectivism which is the tendency of people to belong to groups or collectives and to look after each other in exchange for loyalty (Hodgetts et al, 2006). Most high individualism countries are wealthy countries with high GNP. However, Japan is an exception, Leaders from collectivism countries pays more attention on work in a union. Japan is a typical collective country. For example, the president of Sony Corporation, Akio Morita once said his firm likes a ship; each employee shares the same fate. All staff would suffer if one went wrong (Lee, 1982). In the contrast, individualism focuses on individuals. As an example, the USA leaders usually appraise the performance of the substance individually, because it was found by Earleys study (1989) that, American performed well when they are told their achievement would be measured individually. Long-term orientation Leaders from LTO countries are persistent, ordering relationships by status and observing this order, thrift and having a sense of shame. In the contrast, STO countries leaders are with personal steadiness and stability and reciprocation of greetings, favors, and gifts (Hofstede, 1991). Therefore, authoritarian and paternalistic leadership style could increase the efficiency of management in the LTO countries. On the contrast Participative leadership style could be efficacious in STO countries. In the background of global economics, multinational enterprises are growing rapidly. It has become a common phenomenon that a manager enter into a new countries to lead a group of people with diverse cultural background. Nike is one typical MNC among them. In the following parts, this essay will use the Nike case as an example which manifests that different countries with their respective culture backgrounds require different leadership styles. 2.4.3 Criticism Hofstede derived his data from questionnaires that were distributed among employees of IBM. However, this theory may hide certain dimensions, or values may be wrongly derived because of certain situational influences on the respondents. As a result, Hofstedes research has been criticized by other theorists. Firstly, Tayeb (1996) pointed out that this research was based on attitude-survey questionnaire which could not effectively reflect underlying values of culture. Secondly, IBM as the only sample is not representative. (Robinson, 1983) This is because IBM mainly is comprised of middle-class employees and it has a powerful US-derived organization culture, namely, the respondents may not reflect local national cultures. Thirdly, Hofstede and his associates come from Europe and America and may have cultural bias. (Roberts and Boyacigiller, 1984) Fourthly, Mead (1994) stated that Hofstedes research has been outdated whose research was conducted between 1967 and 1973. Young people have being influenced deeply by the development of globalization and they tend to share a common set of values recently. Generally speaking, despite Hofstedes model has many limitations, it is still a simple and easily comprehensible model to research nations cultural differences. 3 Company analysis 3.1 Sports products Industry relate to American National Diamond 3.1.1 Factor Conditions From the factor conditions view, there is a good home base for sports products companies in US. Firstly, concerning human resources, there are a large number of unskilled casual workers to realize the production of low-end products. However, since the wage of these casual workers is higher than other countries, some companies settle their production base in some Asia countries, just as China and Malaysia. In addition, large number of generalized and highly educated personnel can be seen as a huge treasure in US. American Dream is a motivation for all workforces that America appealed to many technicians and specialists. These skilled workforces contributed many high tech-products and innovation to sports product industry. Secondly, textile industry in US is well known in the world. Owing to this, mass variety of quality textile products is available for sports product industry, particularly for sports shoe and clothes production. Besides, advanced materials ensure the quality of sports products. Thirdly, USA is highly developed nation in terms of knowledge about clothes production. Fashion specialist and advanced physical knowledge resources are beneficial to the innovation of sports products, just like the exploitation of Nike air Jordans shoe. Referring to capital resources, USA is recognized as the first worlds economic power. Capital resources are enough for the success in start-ups of a company which is also encouraged by government. 3.1.2 Demand Conditions America has more than 300 million populations, so it has very strong demanding buyers. Concerning on sports products, most youths tend to wear sports clothes (Locke, 2002). Particularly, under the impact of NBA and NFL, young people will go after star players sports equipment. Therefore, only by motivating innovation, the company could satisfy the higher demands of the customers. The home market is large, encouraging economies of scale and investment in production facilities. As a result, an advantage will be exhibited when it move to smaller nations. As discussed before, the initial target market was youth. So, in order to gain much wider market, it will continually focus on future youth group. All in all, sophisticated home buyers provide experience and indicators of future international needs. So this industry has a potential ability to gain worldwide competitive advantage. 3.1.3 Related and supporting industries Many related and supporting industries enable the sports products industry to realize national strengths, including sports, packaging, textile equipment manufacturers, marketing, media and entertainment. Firstly, the supporting industries give the industry with a high-quality base that ensures it to own a worldwide competitive advantage all over the world. For example, USA has many famous sport unions, such as NBA, NFL and NHL. In the form of sponsorship, these sports union can serve a large platform for this industry to exhibit related sports products. It is obvious that sports product industry is coherent with the development of sports industry. In addition, the related industries support it to a large extent. Take media industry as an example, the United States has long been seen as the home of the most innovative and sophisticated media companies in the world (Porter, 1998). Consequently, such strong marketing force enables sportswear industry to gain competitive advantage and a good reputation at home and abroad. 3.1.4 Firm Strategy, Structure and Rivalry Sportswear industry in the USA exploits diverse strategies to adapt to the domestic business environment. In US, a large number of brands gathered in the sports product market, both from home country and foreign countries. In order to avoid the fierce rivalry caused by using similar strategy and positioning in the market, different companies induce different strategies to seek for their own survive space. As the most famous home sports brand, Nike pay much attention on the shoe innovation. In the early 1990s, Jordan began to show up as the most talented player in the basketball courts, Phil Knight, Nikes executive saw a big marketing strategy possibility (Asch Salaman, 2002). Then he exploits a product development strategy by export the image of Michael Jordan around the globe. And the Jordan air shoe help Nike adopt large portions of basketball shoe market. From then on, Nike continually sign more NBA stars and produce their star series shoes. It creates value for customers with gr eat reputation. Now that it is well-known that the NBA market is huge and profitable in the USA. So that Adidas, a foreign famous sports brand also exploit star strategy that it sign another famous star Kobe Brant to complete with Nike. The same strategy is adopted by Reebok and Converse. However, different from Nike, Adidas pay more attention to football market, even though football may not adopt a large proportion of sports market in USA. Converse intends to comparative low-price product and focus on retro products, so that it will satisfy unique group of customers. The diversity of competition strategies will help the companies to achieve competitive advantage. Nike adopts partly decentralized structure in its supermarket chain. From technology view, Nike master core technology and does not decentralize in production. However, concerning the marketing issue, each store of Nike has a store manager who is responsible to a regional manager. However, they can make certain decisions concerning their layout. Such an organizational structure can benefit the company from two aspects. For one thing, keeping the core technology could maintain its competitive advantage. For another, structure can enable the stores to response to the flexible local demand efficiently, and then can gain competitive advantage. The USAs sports products industry is highly concentrated. From relative statistic, Nike, Adidas, Reebok Converse and Puma are the major operations in this industry that occupy most 88% in the whole market. Notable that Nike it is that it adopt one third share in the market (Locke, 2002). The intense competition leads to the improvement of quality of products to some extent. In the last decade, over, the industry nearly saturated, so that the remarkable growth is extremely difficult to achieve. As a result, it becomes a push factor that encouraged operators to pay more attention to oversea market. 3.1.5 Government role and opportunity Government policies play a significant role of influence and limit the production of this industry. For example, in 1999, Nike reclaim nearly 11,000 kids shoe because the painting of the shoe contain exceed an excessive amount of Plumbum (Nike annual report, 2000). It violates the regulation of the US government. Concerning the opportunity issue, Porter (1998) suggested that chance is out of control. So entrepreneurship should be able to grasp limited chance. As discussed before, Nikes owner, Knight reasonably utilized Jordans reputation. Hence, he gained a large return by producing Jordan Air shoes. Consequently, how to handle the limited chance is important for every entrepreneurial. Overall, the US provides a favorable home base for the sports product industry. 3.2 Competitive Challenges According to the Bartlett and Ghoshals transnational theory, Nike has gained competitive advantages through effectively using the goal-means combinations. There are three major strategies adopted by Nike to achieve worldwide competitive advantages. Firstly, Nike exploiting its technology, experiences and innovations to gain more profits in the different host countries. Nike has always been committed to innovation. In the early 70s, as jogging movement gradually , Millions of people began to wear sports shoes, sports shoes do not Only comfort, but also health and the young elephant Zheng, sports shoes will be popular in the mass market. When , Led by Adidas to the iron triangle not Changes in the grip of this market trend, Nike has run into Income. 1974 Bill Perlman create a new shoes At the end, more flexible than other soles, this looks SR Single-product innovation will push the cause Knight to a New milestone. 1976, the sales from Nike In 1975 the 8.3 million U.S. dollars soared to 14 million U.S. dollars. Companies to develop new styles of running shoes and spend huge amounts of money, 7 O to the end, Nike has nearly 100 researchers, Many of them have biological, chemical, biological experiments, Engineering technology, en gineering design and other school-related school Bit. This strong research forces to develop more than 14 O Different styles of products, many of them products of the market The most innovative and the most advanced technology. These patterns are Depending on the pin-type, weight, Paosu, training programmes, Gender and different technology level. These different styles, different prices and multi-purpose products, suction Reply tens of thousands of running, his 41 ] are resistant G is to provide the most complete variety of running shoes manufacturers, a few Millions of various kinds, all kinds of ability who have run This concept, which is a rapidly growing Industry. Is a very attractive phenomenon. 1979, Nike decided to market it from the field Track and field stadium expansion ordinary family (especially Teenage boy). Create an updated, more Market and development space. In two totally different city Field operations. In order to not lose the traditional formal sports city Market circumstances. Nike to expand the attraction. Its surface A problem is in adapting to popular awareness and promote sports Achievements on how to obtain balance and consistency. To that end. Nike Decided to become an integral part of youth culture and identity as Zheng. As the basis for starting to rethink its advertising strategy Slightly. And the introduction of a new marketing model. If a publicity while Nike ads inflatable insoles, Nike ads in the film instead of blindly publicity Product performance and technological advantages in the usual way. But Adopted a new idea: by the representatives and symbolic play Pishi the famous four shell pest band performances famous songs Revolution. In the rebel plans new rhythm. Melody of. 1 Groups of Americans wear Nike products are to Ruchiruzui A fitness training this ad accurately meet The just the exercise of the changes and when the wind And trendy. To give fresh feeling. This strong Efforts to promote ways. So that Nikes market share To 33% and into the iron triangle. By 1981 Nikes market share reached 5 O%, far ahead in Adidas. This ad so successful. And it Nike to become part of corporate culture. Nike in the marketing of innovation is Sowing. It uses young people worship idols such as the Mai Keqiao Dan such as the transmission, the use of electronic game design tolerance Grams of exclusive games. Whenever the introduction of new models, that is invited A band concert, through the dissemination of entertainment to A change thinking and quality. Such dissemination of Nike Strategy, not only to raise brand awareness quickly, and And also to establish a high degree of identification with the brand equity Secondly, Nike achieved the goals of efficiency and flexibility by examining national differences. In the last several decades, Nike grow at an impressive rate by taking advantage of global sourcing opportunities to produce lower cost products and put these savings into innovative designs(Locke, 2002). In the whole global scale, Nike adopts outsourcing strategy. In Appendix, some major regional and product distribution of suppliers will be listed. Among them, the number of suppliers and contract workers in Asia countries is remarkable, particularly in Indonesia and China. In the 1980s, Nike began to source its products in factories where low wages are usually utilized. For example, in the early 1990s, Nike products were manufactured in six Indonesian factories (Locke, 2002). Many Indonesian shoe factories did not even pay the minimum daily wage: about US$1. Therefore, Nike can gain the cost advantage in its operation in Indonesian. Similarly, in China, the estimated average wage compensation is $0.57 per hour (Giggs, 2007). It is only about 3% of that in the United States. Except gaining the cost advantage, Nike also adopts many other strategies to achieve competitive advantage. Compared the national differences, China has much cheaper materials than USA. So Nike settles its base in Suzhou city in order to make use of enough Chinese cheap materials and labour forces. Besides, since the living standard differs from China and America, Nikes products are always viewed as luxury for common citizens. However, some Chinese local products have price advantage in the market. Like Li Ning and Double stars, they provide relative low price that fit Chinese current economic situation. Despite the reputation and appearance, to a certain extent, has less competitive advantage than Nike, the quality may not be necessarily lower quality than Nike since both of them are manufactured in China. Consequently, high price products s upplied by Nike may not enable to realize an impressive profit in China. But after 2000, Nike adjusts its product price in a certain range (Sun, 2003). Low price products became to access the market. As a result, Nike in 2001 witnessed an increased revenue compared 2000 at 8.7% rate through this strategy (Nike Corporate Responsibility Report, 2001). In a word, Nike recognized these national differences and exploit proper strategy, thus it can gain competitive advantage in those countries. Thirdly, Nike induces three different orientations brands: Nike, Nike 360and Nike kids to achieve flexibility in the global competition. It is well-known that Nike original products orientate the traditional sports products. Through product development and technology innovation, Nike brand has gained international reputation. In order to obtain widely market share, Nike create two new brands: Nike 360and Nike kids. Nike 360mainly provide leisure sports apparel in order to emphasize fashion conception. It adopts the latest technology, but also combines the factors of function and fashion. Whether in the office or at a party, this series clothing is suitable for wearing due to its strongly clothing style and the leisure appearance. Except selling clothes, Nike 360 also serves other accessories such bag, socks and hats. Aperiodically, Nike 360 launched limited products selling plan but only in its permitted franchised store. Nike kids orientates 5-12 year-old group (Nike Corporate Report, 2001). Obviously, it expands customer group which will increase profit. Both two newly added brands will realize high flexibility and deal with the competitive challenge. To sum up, Nike obtains competitive advantage through developing global efficiency, flexibility and worldwide learning capability simultaneously. 3.3 Collaborative challenge Nike formed various collaborative ventures in the global market. In the United State, Nike collaborates with many famous sports unions. For example, Nike has sponsored NBA and NFL for a long period (Nike Corporate Report, 1999). Every season, Nike offers relative sports equipment to NBA and NFL. In fact, it could be seen as product exhibition through NBA and NFL platform. So this collaboration does help Nike gain competitive advantages. As NBA and NFL rapid development in the global scope, Nike could be more competitive in the oversea market. Except collaboration with local sports union, from 1980s, Nike began to expand sponsorship strategy with more international sports activity (Locke, 2002). Particularly, this year, the Olympic game is held in Beijing. Nike values this opportunity and actively exploits Olympic strategy. It becomes one of official China region sponsor. Obviously, the Olympic Games have enormous impact in the world. Thus, it offers a broad platform for product promotion. From other views, collaboration with the Olympic Games testifies Nikes visibility in the international recognition. In a word, cooperation with the Olympic Games provides Nike countless potential values, including: enhancing brand image, product promotion and increasing commercial opportunity. Particularly, Chinese market is unique and complex with wide differences between different regions and towns. Thus, one reason for Nike adopting Strategic alliance is sharing cost and reducing risks. Through strategy alliance, Nike could access to partners assets. By working with a local partner, Nike could learn valuable lessons about the market. For example, Nike cooperate with an Internet distributor found by Miao Hu which focus on Nike ID- service about shoes identity design (CCBOSS, 2007). This Internet distributor offers many creative design plan to Nike, as a return, Nike realizes valuable creation and authorize this distributor to sell. With this interaction, Nike could produce and promote this kind of individual products that lead a new Nike trend in the market, as well as, enlarge scale of economies. Influenced by this fashion trend, many youth began to collect Nike ID products. For instance, Air force love series products are widely sold and it became one fashionable gift on Valentine day. It could be recognized that Nike and its partner share the knowledge and expertise so that they build reciprocal relationship and gain a considerable profit in the market. Certainly, there is a risk in the collaboration. However, Nike can take advantage of this risk to expand its business. As the example above, Nike initially only sign a short term contract with Miao Hus company (CCBOSS, 2007). Then Nike built long term cooperation with it. Hence, Nike could avoid high risk when it exploits this collaborative strategy. 3.4 Cultural challenge As an international company, the significant success of Nike was contributed to its successful strategy of international retailing (Grey, 1991). Home national culture influences this strategy to a great extent. According to Hofstede (), 4 Conclusion 5 Reference Books: Bartlett, C.A., Ghoshal, S. and Beamish, P.W., 2008. Transnational management: text, cases, and readings in cross-border management. New York: McGraw-Hill Companies. Corden, W., 1994. Economic policy, exchange rates and the international system. Oxford: Oxford University Press. Daniels, J.D, Radebaugh, L.H. and Sullivan, D.P., 2007. International business: environment and operations. New Jersey: Pearson Prentice Hall. Finlay, P.N., 2000. 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MIT Sloan Management Review, 31, 29`-41. https://www.ccboss.com/news_Files/hafugli/xingxi/200705180751813004332220.htm 6 Appendix Table 1: Regional Product Distribution of Suppliers Country Factories Apparel Equipment Footwear workers Argentina 4 3 0 1 436 Australia 11 9 2 0 400 Brazil 9 3 1 5 5,488 Canada 21 20 1 0 2,300 China 74 35 22 17 175,960 Dominican 5 4 1 0 3,995 Salvador 8 8 0 0 4,044 Greece 19 19 0 0 5,300 India 23 19 1 3 16,071 Indonesia 30 16 3 11 104,514 Italy 12 8 2 2 5,000 Korea 49 31 10 8 4,000 Malaysia 42 41 1 0 8,044 Mexico 41 39 0 2 12,258 Pakistan 3 2 1 0 9,880 Philippines 22 18 4 0 9,400 Portugal 23 23 0 0 1,872 Sri Lanka 16 16 0 0 10,286 Taiwan 35 24 7 4 15,600 Thailand 62 42 11 9 47,962 Turkey 16 15 1 0 7,944 UK 5 5 0 0 814 USA 131 117 14 0 13,369 Vietnam 12 7 0 5 43,414 Total 673 524 82 67 508351 Source: Nike, Corporate Responsibility Report, FY 2001 Table 2: Number of Contract Workers Region Contract Workers 2001 Asia 467,146 USA 13,369 Americas 37,514 Europe, Middle East Africa 38,693 Total 556,722 Source: Nike, Corporate Responsibility Report, FY 2001. Table 3: Factories per Region Region # of Factories Asia 401 USA 131 Americas 102 Europe, Middle East Africa 102 Total 736 Source: Nike, Corporate Responsibility Report, FY 2001.