Tort Coursework Resit Case Study Example | Topics and Well Written Essays - 1500 words

Tort Coursework Resit - Case Study Example Derek excused them. The Court of Appeal the choices and explanations behind the equivalent were maintained. The court didn't upset the discoveries of actuality as the equivalent were conceded. The significance of the choice lies in the court's announcement of standard might be expressed as the coastguards were under no enforceable private law obligation of care to react to a crisis call and under no obligation of care. In spite of the fact that the issue is communicated in this general way, the particular right being referred to in these interests, is whether an activity for break of legitimate obligation to fare thee well while performing obligations by coastguard can be brought against the Secretary who is liable for Coastguard. law with respect to what is the obligation to fare thee well. Educator Sir Percy Winfield (1933) (1) characterized a tort as 'the break of an obligation essentially fixed by the law, where the obligation is one towards people for the most part and its penetrate is redressible by an activity for harms.' This fundamentally infers to prevail in an activity the offended party must demonstrate that Without such lawful obligation carelessness has no lawful outcome. In Brett M.R. in Heaven v. Pender (2) it was set up that in specific situations, one man may owe an obligation to another, despite the fact that there is no privity of agreement between them. Dicta of Brett M.R. in Heaven v. Pender as considered in 1932 by Lord Atkins J. in Donoghue v. Stevenson (3) set out a significant rule of deciding an obligation. He held that The risk for carelessness, whet... Dicta of Brett M.R. in Heaven v. Pender as considered in 1932 by Lord Atkins J. in Donoghue v. Stevenson (3) set out a significant guideline of deciding an obligation. He held that The risk for carelessness, regardless of whether you style it such or treat it as in different frameworks as a types of culpa, is no uncertainty dependent on an overall population feeling of good bad behavior for which the guilty party must compensation. Be that as it may, acts or oversights which any ethical code would reproach can't in a useful world be dealt with in order to give an option to each individual harmed by them to request alleviation. Along these lines rules of law emerge which limit the scope of complainants and the degree of their cure. The standard that you are to adore your neighbor becomes in law, you should not harm your neighbor; and the attorney's inquiry, Who is my neighbor gets a limited answer. You should take sensible consideration to stay away from acts or oversights which you can sensibly anticipate would probably harm your neighbor. Who, at that point, in law is my neighbor The appropriate response appears 1. Winfield on Tort, eighth Ed. (1967) 2. (1883) 11 Q.B.D. 509; see likewise, Thomas v. Quartermaine, (1887) Q.B.D.685, Le Leiver v. Gould (1893) 1 Q.B. 491; Mogul Steamship Co. v. Mcgregor, Gow and Co.Ltd. (1889) 28 ABD 598; Mcrone v. Riding (1938) 1 E.R. 157; Heley v. London Electricity Board (1965) A.C. 778; Phillips v. William Whitely (1938) 1 A.E.R. 566 3. [1932] A.C. 562 to be - people who are so intently and straightforwardly influenced by my demonstration that I should sensibly to have them in consideration as being so influenced when I am guiding my psyche to the demonstrations or oversights which are brought being referred to. This appears to me to be the teaching of Heaven v. Pender (11

How Did Hitler Establish a Dictatorship in Germany free essay sample

This paper will take a gander at what a fascism is and how it works, how the populace is brought to a point where they acknowledge a tyranny, and look at and break down the crucial occasions that occurred in Germany which lead to Hitler expecting authoritarian force: the Reichstag fire, the Emergency Decree, the Enabling Act, the prohibiting of worker's organizations and other ideological groups, the Night Of The Long Knives, the demise of President Hindenburg, and the German army’s promise of steadfastness to Hitler. It will be contended that while all the referenced occasions were critical, at last, the absolute most significant factor to Hitler’s achievement was the Enabling Act. What is a despot? A despot is a ruler who has supreme control over a nation, power that is, normally, acquired through power. Hence, an autocracy is when â€Å"a single person†¦ rule over a whole nation and spot extraordinary limitations on close to home and financial freedom†¦ relying upon how close of a hold the administration has, it can oversee where you will work†¦ what religion you may have a place with, and what schools your youngsters will attend†. We will compose a custom paper test on How Did Hitler Establish a Dictatorship in Germany or on the other hand any comparable theme explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page The event of the Reichstag fire was Hitler’s initial step to autocracy. Multi week before the general races, on February 27th, 1933, the Reichstag structures went up on fire. Marinus Van der Lubbe, a Dutch Communist, was found in the structure with lighting gear, and was captured and hung. Hitler guaranteed it was â€Å"the start of a Communist uprising† he requested crisis forces to â€Å"deal with the situation† 2 from Hindenburg, who offered them to him. These forces were known as the Emergency Decree. Taking everything into account, the Emergency Decree removed German people’s fundamental freedoms †the right to speak freely of discourse and get together, opportunity from subjective capture and opportunity from detainment without preliminary †it supplanted protected government by a changeless highly sensitive situation. The Emergency Decree, as expressed prior, set generous limitations on the people’s individual flexibility, outlining Hitler’s step toward a tyranny. Taking into account how brutal Hitler’s tyranny was, it is hard not to consider how and why the populace acknowledged his fascism. Hitler carried the populace to this point for the most part by the utilization of purposeful publicity, the control and indoctrinating of German youth, and, in particular, the utilization of dread . Given on March 24th, 1933, and authoritatively named the â€Å"Law for Removing the Distress of the People and the Reich†, the Enabling Act basically implied the finish of vote based system in Germany, setting up the legitimate autocracy of Hitler, by giving him â€Å"the capacity to make laws without the endorsement of either the Reichstag or the President† . Be that as it may, for what reason would the Reichstag vote in favor of a despot, and in actuality, vote themselves out of presence? So as to guarantee that the Reichstag casted a ballot for the Enabling Act, Hitler utilized the technique for terrorizing and fear to force them †when the individuals from the Reichstag met in the Kroll Opera House to cast a ballot, â€Å"the [armed] SA and SS men arranged at the exits† 4 menacingly. Continuing the Enabling Act was the forbidding of worker's organizations and the Nazis’ political rivals. On May second, 1933, worker's organizations were shut †their pioneers were placed in jails, and their cash was reallocated. Supplanting the worker's guilds was the German Labor Front. The GLF decreased workers’ pay rates, however removed their entitlement to strike, indeed showing Hitler’s ascend to autocracy by incredibly constraining the publics individual and financial opportunity. Not long after this, on July fourteenth, a law was passed against the arrangement of ideological groups. A fascism is â€Å"the overseeing power where no restriction is tolerated† 1. After the Reichstag Fire, Hitler had just killed his most undermining adversaries †the Communists †however until this law was passed, other ideological groups had been acknowledged. â€Å"The Law against the Formation of Parties announced the Nazi Party the main ideological group in Germany† . Hitler managed adversaries to the Nazi’s by opening up death camps, just as passing control laws â€Å"to forestall against Nazi perspectives being published† . The Night Of The Long Knives was another significant occasion that happened in those year and a half. It was, basically, a cleanse of the Sturm Abteiling (the SA) and individuals who had incensed Hitler in the ongoing past. By June of 1934, because of a creating power-battle in Nazi-initiative, â€Å"Hitler needed to settle on a decision between the military and the SA† . Every one of the two gatherings had their advantages and disadvantages: The military, while being, all around prepared, effective, and critically, the main association with the ability to evacuate Hitler, was constrained to 100,000 men (results of the Treaty of Versailles), and had numerous Generals who despised Hitler and the Nazis, thusly its reliability was undisclosed. The SA were submitted Nazis who had battled with and for Hitler before, and comprised of 2,500,000 men †multiple times bigger than the military †however Rohm, while being an old companion of Hitler’s, had made foes with some driving Nazis, the SA was starting to gain out of power, and was â€Å"interfering with the running of the nation and the law courts† 7. Additionally, Hitler was in a condition of neurosis, because of bits of gossip being spread about Rohm needing to complete an upset. At long last, Hitler picked the military over the SA, and throughout the following two days, June 29th †30th, around 200 men were executed for ‘treason’, and the SA went under the order of the military. It is important that the military didn't care for Rohm or the SA (as he had straightforwardly said that he needed to retain the military into the SA), in this manner Hitler’s decision picked up him wide-spread prevalence among the military. Only weeks after the Night Of the Long Knives, President Hindenburg kicked the bucket, and very quickly, Hitler pronounced himself President, implying that he involved the situation of Chancellor, Head of State, and Commander of the Army . Prominence in the military was not by any means the only thing that he picked up from his choice of the military over the SA: Hitler had concurred with the military that in the event that he expelled the SA heads and the SA went leveled out of the ordinary armed force, the military would need to swear an individual promise of faithfulness, not to Germany, yet to Hitler. This exhibits the army’s pledge of devotion, on the 24th of August, 1934, was not a demonstration of enthusiasm; the promise expressed, â€Å"I depend on God this hallowed vow: that I will render unlimited submission to the Fuhrer of the German Reich and individuals, Adolf Hitler†¦ and will be prepared as a fearless officer to chance my life whenever for this oath† . Through the entirety of the referenced occasions, obviously gradually, bit by bit, Hitler was changing Germany, supplanting popular government with a fascism.

Early Action Deadline Approaching - UGA Undergraduate Admissions

Early Action Deadline Approaching - UGA Undergraduate Admissions Early Action Deadline Approaching The Early Action deadline is approaching, so here are a few suggestions as we approach the deadline: Dont wait until the last minute. Even though the deadline is October 15, you should not wait until the last minute to submit your application. We do not hold it against you if you wait until 11:59PM on October 15 to apply, however if you do this you are not giving yourself any time to account for issues that could occur to prevent you from submitting. For example internetconnectivityissues, computer problems, etc. The deadline is the deadline, so you should always plan to apply earlier than the last minute. Also be sure to take time to review your application before you submit it. Please note while the application is available 24/7, the credit card payment option is only available from 7AM to 11:00 PM EST. You can still select the check/fee waiver option after 11:00 PM. Be patient. After you submit your application, please be aware that things will not happeninstantaneously. We are likely to have around 11,000 Early Action applicants and the majority of the supplemental material will be sent within the next three weeks. We will be vigorously matching material, but please give things time to get here (both mailed and electronically submitted documents) before contacting us. If an item is mailed, allow time for the postal service to deliver it. If a test score is sent, allow time for it to be both uploaded by the testing agency and downloaded by UGA. Our deadlines are postmarked/submitted deadlines. The next few weeks will be a little hectic in our office as we pull together all of the materials for each application, so we may be a little slower in responding to voice mails, emails, etc. As well, we have a new student system we are bringing up, so this adds an additional challenge to our process. Do not send a fax. If you or your counselor faxes something in, it will be shredded. We place the shredder next to the fax machine for a reason. Check your myStatus. It is the applicants responsibility to get in all required documents. The myStatus page is updated once a day Monday through Friday, generally in the morning, so you do not need to check it multiple times a day. We have also extended the deadline for admissions documents to 10/22, so documents do not need to show up on the myStatus by 10/15. If it has been over 10 business days since you both applied and any missing documents have been sent in, you should begin to inquire about the missing document. If it is a GACollege411 transcript, we occasionally have one that does not come through. However, it is easy to go back into the system and access it again. Missing SAT/ACT scores. If you sent your SAT/ACT scores a while ago and they have not matched up yet, verify that they were sent to UGA through College Board/ACT. Then verify that the name, social and birth date on the test scores are the same as the admissions application as these are important matching fields. If you have given us enough time to receive them and they are not showing up on myStatus, email admproc@uga.edu with your situation and we will work on manually matching your scores. Please be patient as it takes longer than a day for scores we receive to get into our system.We will accept test scores that were taken and requested to be sent to UGA by the 10/15 application deadline, as these will have time to get to us by our decision date. In addition, there is an odd glitch with our new system displaying the highest subscore at times, but we hope to have this corrected in a few days. School Evaluation. Your counselor will have additional time to submit the school evaluation as their EA deadline for materials is 10/22. We will leave the online school evaluation open for at least a week beyond the deadline so your counselors should not have to stress about any last minute applicants. Go Dawgs!

Hrotsvitha von Gandersheimâ€Dramatist, Poet and Historian

Hrotsvitha of Gandersheim wrote the first plays known to be written by a woman, and she is the first known European woman poet after Sappho. She was a canoness, poet, dramatist, and historian. Surmised from internal evidence of the writings that she was born about 930 or 935, and died after 973, perhaps as late as 1002 The German Dramatist is also known as Hrotsvitha of Gandersheim, Hrotsvitha von Gandersheim, Hrotsuit, Hrosvitha, Hrosvit, Hroswitha, Hrosvitha, Hrostsvit, Hrotsvithae, Roswita, Roswitha Hrotsvitha von Gandersheim Biography Of Saxon background, Hrotsvitha became canoness of a convent in Gandersheim, near Gà ¶ttingen. The convent was self-sufficient, known in its time for being a cultural and educational center.  It had been established in the 9th century by Duke Liudolf and his wife and her mother as a free abbey, not connected to the hierarchy of the church but to the local ruler.  In 947, Otto I freed the abbey completely so that it was also not subject to a secular rule.  The abbess in Hrotsvithas time, Gerberga, was a niece of the Holy Roman Emperor, Otto I the Great.  There is no evidence that Hrotsvitha was herself a royal relative, though some have guessed that she might have been. Although Hrotsvitha is referred to as a nun, she was a canoness, meaning that she did not follow the vow of poverty, though she still took the vows of obedience and chastity that the nuns did. Richarda (or Rikkarda) was responsible for the novices at Gerberga, and was a teacher of Hrotsvitha, of great intellect according to Hrotsvithas writing.  She later became an abbess. At the convent, and encouraged by the abbess, Hrotsvitha wrote plays on Christian themes. She also wrote poems and prose. In her lives of the saints and in a life in verse of Emperor Otto I, Hrostvitha chronicled history and legend. She wrote in Latin as was usual for the time; most educated Europeans were conversant in Latin and it was the standard language for scholarly writing.  Because of allusions in the writing to Ovid, Terence, Virgil, and Horace, we can conclude  that the convent included a library with these works.  Because of mention of events of the day, we know that she was writing sometime after 968. The plays and poems were shared only with others at the abbey, and possibly, with the abbess connections, at the royal court. Hrotsvithas plays were not rediscovered until 1500, and parts of her works are missing.  They were first published in Latin in 1502, edited by Conrad Celtes, and in English in 1920. From evidence within the work, Hrostvitha is credited with writing six plays, eight poems, a poem honoring Otto I and the history of the abbey community. The poems are written to honor saints individually, including Agnes and the Virgin Mary as well as Basil, Dionysus, Gongolfus, Pelagius and Theophilus.  Poems available are: PelagiusTheophilusPassio Gongolphi The plays are unlike morality plays that Europe favored a few centuries later, and there are few other plays extant from her between the Classical era and those. She was obviously familiar with the classical playwright Terence and uses some of his same forms, including satirical and even slapstick comedy, and may have intended to produce more chaste entertainment than Terences works for the cloistered women. Whether the plays were read aloud or actually performed, is unknown. The plays include two long passages which seem out of place, one on mathematics and one on the cosmos. The plays are known in translation by different titles: Abraham, also known as The Fall and Repentance of Mary.Callimachus, also known as The Resurrection of Drusiana.Dulcitis, also known as The Martyrdom of the Holy Virgins Irene, Agape and Chionia or The Martyrdom of the Holy Virgins Agape, Chionia, and Hirena.Gallicanus, also known as The Conversion of General Gallicanus.Paphnutius, also known as The Conversion of the Thais, the Harlot, in Plays, or The Conversion of the Harlot Thais.Sapienta, also known as The Martyrdom of the Holy Virgins Faith, Hope, and Charity or The Martyrdom of the Holy Virgins Fides, Spes, and Karitas. The plots of her plays are either about the martyrdom of a Christian woman in pagan Rome or about a pious Christian man rescuing a fallen woman. Her Panagyric Oddonum is a tribute in verse to Otto I, the abbess relative.  She also wrote a work about the abbeys founding, Primordia Coenobii Gandershemensis.

The Promise By C. Wright Mills Essay - 1932 Words

In C. Wright Mills essay, â€Å"The Promise†, he speaks about the sociological imagination and the impact that the 20th century has on men and woman. When one thinks about their life; the people they hang out with, their career, schooling and the decisions that they have made which have shaped their lives. Most people don’t consider the external forces which are just as responsible for these characteristics as one’s personality and talents. In my life, many things have shaped my current status, a college student and a high school graduate. When thinking about how I got to where I am today, my initial thoughts would be through hard-work, good grades, and motivation from my parents. However, most people don’t look behind the obvious and at the†¦show more content†¦This is since those who are wealthy don’t need the extra money that they will make from having a career, and will instead inherit money, as well as a company. In middle-class famili es, both parents, or just one is required to work hard to make a living and supply their family with all the basic needs, and then some. As I was growing up, both my parents worked, as well as my siblings. This enabled me to take a similar path so that I could eventually live in comfortable living standards. The class in which I am associated with has also caused me to have a productive high school experience and in return get me to where I am now. I attended a wealthy high school where I was provided many opportunities to succeed. In my school, I had the ability to take 6 AP courses (much more were provided to all students), and participate in various clubs and sports teams. This helped me to build up my resume and have a better chance to get in to a college. Because of my class, I also had the opportunity to hire tutors, and take classes where I could be taught to understand things I formally didn’t. Many people don’t have this opportunity, which enabled to me to do better in school and get my work done. Aside from all the help I could provide for myself, nearly 100% of students from+ my high school are attending a university after graduating. This statistic made it almost aShow MoreRelatedSociological Imagination s Critical Review1319 Words   |  6 PagesThe Sociological Imagination Critical Review Essay â€Å"The sociological imagination enables us to grasp history and biography and the relations between the two within society. This is its task and its promise.† C. Wright Mills writes about the sociological imagination in an attempt to have society become aware of the relationship between one’s personal experience in comparison to the wider society. 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Though the definition of the word â€Å"stipulation† in the act is not been given, but when refer in Halsbury’s Laws of England, ‘stipulation is said to include only promises and not collateral contingencies beyond the control of either party e.g., in sales of goods â€Å"to arrive†. A bare ‘representation’ will not amount to a stipulation. Such stipulation maybe of major terms/conditions and minor terms/warranty. ConditionRead MoreResearch Methodology Essay4336 Words   |  18 Pages. Let us admit the case of our critics from the humanities and from the experimental sciences: Social science as a whole is both intellectually and morally confused. And what is called sociology is very much in the middle of this confusion.† Wright Mills Images of Man Abstract The quest for knowledge has always been at the forefront of societies mind. What makes us tick as a society or an individual, what circumstances have to come about to lead to different phenomena to occur? Sociologists

Creativity Is The Process Of Being Creative Education Essay Free Essays

string(27) " the act of contemplation\." Your Creativity accomplishments expanded Everyone has a demand to be able to accommodate creatively and therefore maintain up with the of all time changing universe. Although it has been said that ground could be used, now there is an apprehension that this can hinder people from fast and ignorant alterations in a state of affairs, and to profit in job work outing people need to see things in new ways, expand bing ideas and develop accomplishments which enable them to go a benefit to any undertaking group or administration. More late administrations have had to do drastic originative alterations in working ways, unlike the smooth, formulated easy alterations of the yesteryear. We will write a custom essay sample on Creativity Is The Process Of Being Creative Education Essay or any similar topic only for you Order Now The logic and the ground are limited when puting up for difficult to think discontinuous alteration, so there is a demand to travel beyond them. It is all about how to travel off from limited thought, traditional mentalities, premises, and that deep rooted manner of nearing jobs. It is suggested that intellectual hemispheres are responsible for different ways of activities: the left one is responsible for logics, scientific and practical ways while he right one is used for more originative activities. Whether you are used to treating one manner over the other it would be of great benefit to go familiar with both, as there has been grounds demoing the more a certain portion of the encephalon is used the more it will develop physiologically. Constraints ‘ being removed before nearing jobs is critical in order to happen the best solution, and people need to alter the end to avoid remaining in a position quo. Predicting alterations in the environment, continually redeveloping it is of import, utilizing creativeness is indispensable in conveying about a different hereafter. The ICT invasion is a all right illustration where some administrations were non originative plenty to travel fast and benefit. When making possible solutions the more options the more likelihood that a solution will come to light, particularly when there has been opposition in the yesteryear. Idea coevals from consecutive divergent and convergent phases is an ideal tool for this. In short the usage of both types of thought is valid, in respects to the left and right cerebral hemispheres mentioned earlier. Creative execution has scope when there are a broad scope of options, and in order to convey creativeness about restrictions need to be forgotten and originative thought must take over, this is the lone manner to convey approximately great alteration. Creative thought is a procedure which improves the ability to be originative and being in a all right province of head for bring forthing new thoughts. It means besides believing deliberately in ways that improve the likeliness of original ideas happening, it maximises the ability of the encephalon to believe of new diverse and complex thoughts ; a series of mental actions which produce alterations and developments of idea ; the procedure of researching multiple avenues of actions or ideas, ( sometimes calledA divergent thinkingA because idea forms and countries of belief are expanded. ) . Creative Tools for Problem Solving A squad ‘s work requires creativeness and one of the best known originative tools is brainstorming. Brainstorming is an advanced tool ; it helps team creatively and competently bring forth a high degree of thoughts on any subject by promoting free thought ( Basu 2008 ) . There are several fluctuations of the procedure itself ; two of them are more common- structured and unstructured methods. In the first method each member is asked to come up with an thought, whilst in the 2nd one thought is produced at any clip by anyone. Brainstorming is frequently used when logical tools can non work out a job. Another tool for effectual job resolution is Mind Map. Mind Map is non-linear, spacial, graphical technique. There is a cardinal image which is the chief topic and thoughts are spread out of it like subdivisions. Besides subjects of secondary importance are distributing out like subdivisions from chief subjects ( Malone 2004 ) . Rich picture- at first sight these images are deceptively fiddling. However, this conceals the complicated manner of garnering information, thoughts, experiences and all other beginnings which helps to make ( Kazi 2005 ) . The rich image is a communicating channel which articulates the state of affairs through aggravation. Ocular thinking- it is a portion of believing procedure, which is extremely valuable and used widely. When ocular information is presented, rather frequently it is much easier to obtain the significance ( Paterson 1993 ) . Collaboration- it is a vivacious and interpersonal procedure which involves committedness, ends, shared values. It requires that squad members act together, portion the power and are unfastened to possibilities of personal and/or professional dealing ( Hamric et al2005 ) . Journaling- it is a inveterate dated events and thoughts. Journal besides includes contemplations and responses of author ( authors ) of those thoughts ( Stevens and Cooper 2009 ) . Journaling ‘s chief characteristics: it is written, entries are dated, it is written in informal linguistic communication and it is flexible- type of entries, intents for maintaining it etc ; flexibleness is the cardinal property of diary. Persistence- it is a uninterrupted force per unit area, careless troubles. It is really of import to maintain with a work despite the complexness of it. Brooding study on CPS On the 1st twelvemonth in university pupils had to present a group presentation for PPD[ 1 ]category. Students had to fix concern presentation alas promotional run, to inform and carry the young person from borough of Greenwich to take a portion as voluntaries in London 2012. The command was ?1m contract, so pupils had to come up with a really good run program. This was a great squad exercising ; although, tonss of difficult work had to be input. This is a brooding study on originative job work outing while fixing this presentation. It is identified that larning through the contemplation is more powerful if there is an apprehension of models which helps to construction and steer the act of contemplation. You read "Creativity Is The Process Of Being Creative Education Essay" in category "Best process essays" There are many different theoretical accounts to utilize as a model for reflection- Kolb ‘s learning rhythm ( Appendix 1 ) , Gibb ‘s rhythm ( Appendix 2 ) etc ; there is no incorrect or right theoretical account, the key is to take one which feels the most comfy and best aids in larning from ain experiences. For this work pupil decided to utilize Jasper ‘s ( Jasper 2003 ) theoretical account ( Appendix 3 ) which is further clarifying of Gibb ‘s rhythm into simple phases. Phase one: Description of the event Students were fixing presentation over 2 month. On hebdomad get downing on 10th January 2011, pupils had a briefing on the Olympic Jobs Team Exercise every bit good as category argument. Briefing ‘s intent was to fix pupils for squad presentation and to guarantee pupils understand the demands and purposes of the squads exercise. At this point groups were established and pupils could travel over the briefing sheet for Olympic Jobs squad exercising. First, groups had to come up with a name for their squad and allocate squad members to different positions- Finance, Human Resources, Selling and Operational directors. Although, it seems really simple, it was non. Everyone had different thoughts and members spent most of the clip debating and brainstorming. The group decided to utilize creativeness tools such as: Get downing with known values- journaling ( Appendix 4 ) Geting other points of view- ocular thought Non-linear thinking- brainstorming ( Appendix 5 ) , ( Scholtes et al 2003 ) . As a consequence group came up with a name TFH which stands for Take your Future in your Handss and functions were allocated. Because there were merely three members in this group, Operational director ‘s function were decided to divide between all three of them. Group decided to hold five meetings ( Appendix 6 ) and scheduled them on Tuesdays as it was most convenient for everyone. Phase two: Feelingss The job ( exercising ) was given but pupil struggled to specify it as without specifying, job can non be solved. Student was experiencing unconfident because remainder of the group seemed to pick up on exercising. With a aid from other group members student managed clearly to place job and could get down bring forth possible solutions. After specifying job pupil felt rather confident and actively joined group meetings and came up with some really good thoughts. Since pupil is good organised, she was the 1 who kept diaries and it made her proud. In wide footings, people who feel confident about what they are making, can give a higher public presentation. Phase three: Evaluation Using earlier agreed creativeness tools pupils learned to develop their imaginativeness and CPS[ 2 ]accomplishments. These accomplishments are movable accomplishments, which can be used besides in personal and work life. Brainstorming helped members of group to work as a squad and really bask the clip spent together. Besides, utilizing ocular thought tool, pupils realised that they really enjoy pulling, utilizing color codifications etc. Phase four: Analysis In general, preparing of the presentation went really good. Comparing with old presentation[ 3 ], which was more about squad functions and less about creativeness, this one was more restful, group members realised their potencies thanks to CPS. Students did non realised how their assurance had grown and that they really enjoy showing their thoughts about solutions to the challenges ( Frigard 2008 ) . Phase five: Decision Overall, fixing and presenting presentation could be described as a difficult work and much of merriment. Teamwork is ne’er easy because of different people coming together and seeking to happen optimum solution to the job. In this instance CPS encouraged squad members think otherwise, â€Å" out of the box † . Rewarded grade is the best contemplation on presentation and it was high- 85 % ( Appendix 7 ) ; of class, there were some minor errors during the procedure and existent presentation, but pupils learned a batch. Phase six: Action program Looking back at the procedure of creative activity, it went good and likely pupil would utilize the same CPS tools once more if the similar undertaking came up once more. After this undertaking, pupil completed Self-evaluation of Creativity trial and scored rather high- 92points ( Appendix 8 ) . Contemplation on PPD presentation This is a contemplation on PPD presentation ( Appendix 9 ) , based on Jasper ‘s ( Jasper 2003 ) theoretical account of the Gibbs rhythm. Students received an assignment to present power point presentation about promotional run for Olympics 2012 volunteering occupations for young person. Groups were self selected and this group consisted of three people: Ieva, Tom and Denis. The group had to research information on volunteering undertakings and occupations offered, and measure the best possible ways to choose the right campaigners for the occupations. They besides had to fix a selling run and measure the resources to procure a positive action program. Ieva was working on the HR side of the undertaking, she had to research occupation chances, fix the enlisting program and preparation and development plans. Tom was making Marketing side of the undertaking fixing promotional run. Denis was responsible for fiscal side of work, he prepared the fiscal program. The whole group invested every bit in operational side of run. The pupils used PowerPoint to present the presentation. Ieva opened the presentation with a brief debut about the company and so moved on to the enlisting program. It was a great challenge for her as she has ne’er felt confident speaking in forepart of group of people. Tom delivered really convincing promotional run ; he covered all the necessary stairss for a professional and sophisticated selling program. Denis delivered a really good prepared fiscal program for the undertaking, which was an of import portion of the successful run when command for the ?1m undertaking. Ieva felt rather confident about this undertaking, the group had spent a batch of clip on it and everyone was working hard. However, this was 2nd group presentation in this twelvemonth, so they knew, they would be marked stricter, the coach will anticipate pupils to larn from the old errors. Overall this was a really good squad exercising, which tested in deepness the strength and failings of each squad member and gave them new get downing points and infinite for betterments. Based on the coach ‘s feedback, the presentation went instead good. Students emphasised their professional attack by have oning smart frock ; showing mode and the use of PowerPoint was really good. As per coach ‘s feedback, there was merely little unfavorable judgment on deficiency of press releases, which would hold been utile. All in all pupils were really satisfied as they achieved a grade of 85 % . The work and clip invested in this undertaking had been paid back. Looking back to the readying procedure and the work load that was used, the group all believe that – following clip they will near the undertaking with the same bravery as this one and they would take into history all the errors that they made and unfavorable judgment received from coach and other pupils. Understanding â€Å" millennials † and Generation Y Generation Y is a label for people who were born between early 80s and early 90s, following coevals X.A Quite frequently members of Generation Y are referred to as â€Å" echo boomers † , for being kids of parents born during so called babe roar, or Following Generation, Millenials Internet Generation etc. One of the chief features of Generation Y members is the deep cognition of modern communications and digital engineerings, so in response to it employers have to update their hiring scheme to incorporate modern-day signifiers and usage of these engineerings. hypertext transfer protocol: //www.businessdictionary.com/definition/Generation-Y.html. After reading the Generation Y article ( W. Stanton Smith, 28 October 2009 ) ( Appendix 10 ) , pupil summarised four chief statements: Non- traditional household unit makes up the bulk of families Flexibility and alteration of career is a demand Workers are reconsidering the function of the work in their lives Three things which left the immense impact on the Generation Y life doctrine are engineerings, attack towards concern, consumer ‘s attitude. There is grounds demoing that alternatively of 60 % in the 50s, nowadays merely 17 % of families run into the definition of traditional, but it should be kept in head that in today ‘s footings it is an arguably narrow definition. That means that there is a demand for more flexibleness in nowadays work-life issues than it was earlier. There is a stereotype about adult females and their function within a household. For 100s of old ages their function was homemaker and female parent ( Cheal 2008 ) , adult females premier duties have been looking after house, kids and taking attention of hubby ‘s well-being. Another stereotype is that the biggest part of families ‘ income is brought in by work forces ( Rapoport et al 1978 ) . Even today adult females are expected to go on to hold a chief responsibility for child care and eldercare, but because of increasing Numberss of female alumnuss, there is a demand for customisation of career and general flexibleness in work. Along, with all the alterations within the household, the traditional corporate theoretical account is altering every bit good. Not merely are female parents concentrating on their work they are besides concentrating on their households, male parents are keener to pass more clip with their kids ; they want to take a portion in their upbringing. As a effect, the traditional corporate ladder is giving topographic point to a corporate lattice theoretical account where the sum and celerity of work can be diverged depending on the life style. Generation Y is a coevals of engineerings, therefore it is taking computing machines, electronic mails, nomadic phones and suchlike for granted ( Savage and Collins-Mayo 2006 ) , which wholly changes how members of this coevals view the universe every bit good as brings an changes within the labour market. Research on Generation Y assumes that consumers of this coevals are all likewise, but this coevals includes 15-32 twelvemonth olds, so their behavior as consumers will be different ( Benckendorff et al 2010 ) . However, this coevals has been raised to be consumers who question value and demand high quality and therefore, it is apprehensible that they carry these outlooks with them everyplace, including callings. Paul Redmond[ 4 ]has said that this combination of influences ( engineering, attitudes towards the concern and a consumer mentality ) , had created really confident and commercial coevals, members of which are success driven, fed up with everyday and are ready to go forth work if employer does n’t react their values and concerns ( hypertext transfer protocol: //business.timesonline.co.uk/tol/business/career_and_jobs/recruiter_forum/article4275460.ece ) . Overall there is valuable information for recruiters whose connotation is to pull the top new alumnuss and non entirely. In general pupil agrees with the article as it is really realistically written and most of the facts are backed up with grounds. Brooding study on PDC As a portion of PPD class, pupil had to take a challenge anterior pupil ‘s personal and professional development advancement. Conferences present legion possibilities for pupils. They find out about new developments in the field, can web with co-workers, and do indispensable contacts etc ( Curtis 2002 ) , so pupil decided to go to the conference when the chance came frontward. Phase one: Description of the event It was three yearss event, taking topographic point on March 21st-24th in Great Connought Rooms ( Appendix 11 ) locale, in London. Events name was International SAP Conference for Financial Services 2011. Because pupil plants within conference industry, on the first twenty-four hours of conference she had to execute work responsibilities, stake on 2nd twenty-four hours ( Appendix 12 ) she was given an chance to take part in the conference. Besides the professional involvement in conference[ 5 ], pupil was peculiarly interested in some of the cardinal talkers and their presentations as it was relevant to her concern surveies. Because of the planetary recognition crunch, a rather few presentation were contributed towards after-crunch period and redresss for European states to utilize. Another peculiar involvement in go toing this conference for pupil was presentations. As this is the pupils weakest nexus, it was really good experience to watch professionals to give presentations and me asure those. During the breaks pupil had an chance to run into concern people from around the universe, talk with them and hear their positions on current and future state of affairs in concerns. Phase two: Feelingss Because of the magnitude of the event and large concern figures go toing, pupil was afraid that result from go toing event will non be really good. However, after first two presentations pupil realised that subjects of presentations were really interesting, presentations themselves were great and she gained assurance, because she knew that she will be able to fall in conversations about it. Because pupil did non hold a clip to fix for the conference, she missed out the workshops which she did non experience good about. However, fall ining conversations during interruptions, she felt confident and even involved herself in one of the arguments. Looking back at the event, it was a great new experience which will assist her with her personal and professional development. Phase three: Evaluation By and large talking, event was successful for its intent. For pupil ‘s acquisition purposes the most relevant portion was forenoon session ( Appendix 13 ) . Even these presentations were more aslant towards the new SAP engineerings inventions in banking systems, there was batch about economic growing and falls and how to cover with it. Particularly Prof. Dr Hans-Gert Penzel ‘s presentation was in involvement because of movable cognition about fiscal crisis and economic sciences growing slope[ 6 ]. In the center of this presentation it was disturbed by fire dismay and everybody had to go forth the edifice. There was non echt fire but it still took clip for fire brigade to come and look into. Nevertheless the presentation was disturbed, Mr Penzel used it as an illustration, he adapted state of affairs to the concern scene and turned the perturbation into utile tool. Phase four: Analysis Event was split into four chief parts: two forenoon Sessionss, from which foremost was devoted to general information about SAP engineerings and how it may assist to better concerns and fiscal crisis ; 2nd forenoon session was about SAP systems transmutation and invention in banking, current Sap clients were sharing their experience about utilizing SAP engineerings. After 2nd forenoon session was tiffin, pupil had an chance to speak to attendants while basking lovely nutrient. There was besides clip for researching exhibition, which was largely devoted to banking engineerings, but it was a good for networking and looking for new chances. After tiffin other SAP clients continued to speak about advantages of SAP systems. Afternoon interruption was followed by really interesting presentation given by Mr Andy Hirst, Senior Director Industry Marketing for SAP. It was about concern analytics, new developments and the best pattern attacks. Then two more presentations from SAP clients and sh uting remarks from the Chairman of the SAP. Phase five: Decision Overall the result of the event was successful, pupil learnt a batch. The biggest part from this event towards pupil ‘s acquisition development was tonss of different presentations. One of the grounds why pupil does non experience confident making presentations, is that English is non her first linguistic communication and she is afraid to do errors, although she is ever lending a batch during the originative procedure. Because a half of the talkers at the conference were non-native English talkers, it was valuable experience to see them on the phase. Although, they are professionals and likely giving presentations on at least hebdomadal footing, some of them still made minor errors, but that did non halt them to transport on. It was valuable lesson for pupil, carry on, despite the errors, be able to rectify herself and after travel on with presentation. Phase six: Action program As this was the last minute call, pupil did non hold a clip to fix herself for the conference, so if the similar event encountered once more, she would seek to make some research before go toing it, which would give her more assurance and would give an chance successfully take part in workshops, which she missed out this clip due to the deficiency of cognition and as a consequence- assurance. Contemplation on Class Debate Argument is practically an statement, a constructive treatment which allows everyone to fall in in with their positions and sentiments. Debate is an of import portion of larning procedure, it helps to understand argumentative schemes and expect the responses from opposite squads ( Lyon 2008 ) . Phase one: Description of the event Students had to set on docket to hold a category argument. Topic was about the world Television consequence on society. It seemed that everyone had their sentiment, and this is when it all went incorrect. The best word to depict it is chaos. Students were non debating ; they were quibbling about their sentiments on the format of the argument. Rules of the argument were non followed and as a consequence argument turned into coarse statement with some pupils being peculiarly chesty and violative. Phase two: Feelingss Student felt confused at first, she did non anticipate grown up people to be so superior and cocksure which was on the border with unfastened discourtesy. Phase three: Evaluation This was group ‘s first argument, but pupils were informed about regulations of argument etc. However, it turned into het difference, pupils were cutting off each other and in general it was a one large catastrophe. Phase four: Analysis It all went so incorrect that there is no manner to interrupt this event into constituent parts and analyse. Students did non follow regulations and phases of argument, they were ill prepared. There was no logical way and argument turned out to be wholly useless. Phase five: Decision It is truly difficult to happen a good thing to state about this argument, as it went so incorrect. However, people learn from their experience, and bad experience in larning procedure is every bit utile or sometimes even more utile as a good one. Phase six: Action program If there will be other arguments in the category, pupil will fix herself better beforehand and will suggest to hold short meeting before the argument, so pupils could hold on regulations and seek to command their self-importances. Appendix How to cite Creativity Is The Process Of Being Creative Education Essay, Essays

Corporate Law Section 6 of Partnership Act

Question: Discuss about the Corporate Law for Section 6 of Partnership Act. Answer: Introduction In accordance with the information provided in the case, a successful business is being operated by Jack, Jill and Max from the last one year and it deals with truck sale. But for future growth and sustained progress, the formal definition of business structure is mandatory as the underlying liabilities associated with each are different. There are a host of options with regards to business structure ranging from sole proprietorship to partnership, however considering that there are three owners, hence the choice gets constrained to company or partnership (Latimer, 2005). A brief discussion on the two options and their potential benefits and limitations has been carried out below. Partnership Section 6 of Partnership Act, 1963 defines partnership as any relationship where atleast two people (known as partners) provide agreement with regards to engaging in an activity with the profit intention. As highlighted in the Birtchnell v. Equity Trustees (1929) 43 CLR 384, the partners owe each other fiduciary duties as a result of the partnership relation. Also, indicated in the verdict of the Green v. Beesley (1835) 2 Bing N C 108, partnership structure is governed by the concept of mutual participation. Benefits The potential benefits associated with running a business as partnership are mentioned as follows (Davenport Parker, 2014) The structure can be put in place without time delays and at minimal cost as only a partnership agreement is required to be signed between the partners. There is division of work as compared with sole trader where all the functions have to be discharged by the owner. Also, due to presence of more people, higher sharing of knowledge occurs which deals to better decision making. The partnership agreement tends to define the profit sharing and also liabilities in an objective manner.. Limitations The partners are liable for the actions and decisions made by the partners on an individual basis as indicated in the verdict of the Lang v James Morrison Co Ltd (1911) 13 CLR 1 at 11 case. In the event, that an individual partner wants to exit the business by stake sale, it cannot be executed without prior approval of the other partners. The potential liabilities of partners in this structure theoretically is infinite as partnership firm is not a legal entity as indicated in the arguments of the Re Buchanan Co (1876) 4 QSCR 202 case. Company A company legal structure gains legal sanctity in accordance with Corporations Act 2001 and is one of the most popular structures which has the following implications. Advantages As highlighted in Section 124, Corporations Act 2001, a company is a legal entity and hence business is conducted in the nature of the company and not the shareholders. The above ensures that the company is held liable for its activities and actions and the personal liability of the shareholders is minimized except is cases where there has been extension of personal guarantee. It is easier for this structure to dilute equity and raise capital from the financial markets where the shares of certain companies is frequently traded. Limitations The company structure for inception has higher formalities and these are typically time consuming and also costly. The financial reporting norms tend to be more stringent for this legal structure in comparison with other forms such as sole trader and partnership. Recommendation Conclusion While both the above legal structure have potential benefits and limitations, it is advisable for the current truck business to prefer the company option. This is justified on account of the following reasons. The truck business typically has high requirement of capital and hence company structure could allow raising incremental finance required for business expansion. (Harvey, 2009). Also, considering the nature of the business, the liabilities could be potentially significant and hence to ward off the personal liability of the owners, the company structure would be preferred. Going forward, the corporate tax rate would result in lower tax liability as compared to the personal income tax rate applicable in the partnership structure (Lindgren, 2011). 2. Issues To opine on the existence of any corporate liability that arises for the employer (Child Toys Pty Ltd) due to actions undertaken by Betty. To opine on the course of action that the employer (Child Toys Pty Ltd) can pursue in wake of actions taken by Charles. Rule: There is an agency relationship which tends to exist between the employers and employee where employees tend to act as the agent of the employers who in turn act as the principal. With regards to actions taken by the employees, the employers are bound by those actions irrespective of the fact whether those actions were in line with the instructions extends by the employer or not. This is clear from the arguments made in the Amaba Pty Ltd v Booth [2011]. The employees as agents are immune to the liabilities arising from their conduct even though the employer in case of misconduct may initiate legal action against the employee who acts in a manner that is detrimental to the interest of the employer (Paterson, Robertson Duke, 2015). Also, the employer tends to be superior party in the relationship as is apparent from the verdict of the Keramianakis v Regional Publishers Pty Ltd, [2009] and hence would be held accountable for the actions of the employee (Lindgren, 2011). In accordance with the Section 5Q, Civil Liability Act, 2002, if any work of delegable nature is being done than any liability on account of the same would rest on the party delegating the work (Pathinayake, 2014). Besides, as is apparent from Maxwell v Highway Hauliers Pty Ltd, [2014] case, in case of execution of contract by the employee or agent with an external party due to misrepresentation , the external partys interest are safeguarded and any liability on account of the contract would have to be borne by the employer. In relation to the restrictive covenant that are applied, the basic intent is to ensure that the employee leaving the firm should not start a comparable business by exploiting the confidential information that employee may have on account of the privilege position that he/she occupied with the previous employer. This is ethically and principally justified since the agent owes responsibility towards the principal even after the relation has terminated (Latimer, 2005). Based on the verdict of the Aristocrat Technologies Australia Pty Ltd v Allam, [2013], it is apparent that every business has come confidential information and the employee should not act in bad faith and hurt the legitimate business interests of their previous employer. Even though restrictive covenant has limited utility but in case where the employee tends to act in bad faith, the covenant is considered to be enforceable as is apparent from the decision reached in the Wingfoot Australia Partners Pty Ltd v Kocak, [2013] case. Thus, while the scope of restrictive covenant is not expansive, it does provide protection to the business interests of employers which may be harmed due to actions by ex-employee which are enacted with the intention of harming the employer (Pathinayake, 2014). Application: The given information indicates that Betty is a salesperson with Child Toys and has executed a contract based on fraudulent misrepresentation since she knew that she was conveying false information. As a result of the contract being enacted, serious injuries were sustained by a child s the toys had chemicals present. Even though Betty did not consult the employer before entering the contract and misrepresenting information but still liability due to the injury would be borne by the company. However, the company may initiate action against Betty for she is in violation of the fiduciary duties directed towards the company. The given information indicates that Charles was occupying a senior position in the company and therefore had information about the major customers and their respective requirements. When Charles leaves the organization, the company enacts a restrictive covenant with him whereby he could open a similar business to Child Toys only after the passage of two years. Still Charles went ahead and established a business in the same field and is also approaching the major clients of Child Toys. Clearly, this amounts to the restrictive covenant being violated and also Charles is acting in bad faith as he has decided to exploit the contacts he built due to the position occupied at the ex-employer Child Toys. Hence, in the situation presented, the restrictive covenant will be held enforceable by the court and the company can initiate legal action to prevent Charles from approaching the clients of Child Toys and also damages may be claimed in case of losses. Conclusion: The employer Child Toy would have to bear the liability arising out of contract enacted by their employee Betty. In this case, the restrictive covenant enacted with Charles will be legally valid thus allowing the previous employer Child Toys to take reasonable actions for ascertaining the firms interests. References Statutes and Case Laws Section 20, Partnership Act, 1963 Section 6, Partnership Act, 1963 Section 124, Corporations Act, 2001 Amaba Pty Ltd v Booth [2011]. 283 ALR 461; Aristocrat Technologies Australia Pty Ltd v Allam (2013) 297 ALR 406 Birtchnell v. Equity Trustees (1929) 43 CLR 384 Green v. Beesley (1835) 2 Bing N C 108 Lang v James Morrison Co Ltd (1911) 13 CLR 1 at 11 Keramianakis v Regional Publishers Pty Ltd(2009) HCA 18. 237 CLR 268 Maxwell v Highway Hauliers Pty Ltd (2014) HCA 33 Re Megevand; Ex parte Delhasse (1878) 7 Ch D 511 Wingfoot Australia Partners Pty Ltd v Kocak (2013) HCA 43 Books Davenport, S Parker, D 2014, Business and Law in Australia, 2nd eds., LexisNexis Publications, Sydney Harvey, C. 2009, Foundations of Australian law. 3rd eds., Tilde University Press, Prahran, Victoria Latimer, P 2005. Australian business law, 24th eds., CCH Australia Ltd. Sydney Lindgren, KE 2011, Vermeesch and Lindgren's Business Law of Australia, 12th eds., LexisNexis Publications, Sydney Paterson, J, Robertson, A Duke, A 2015, Principles of Contract Law, 5th eds., Thomson Reuters, Sydney Pathinayake, A 2014, Commercial and Corporations Law, 2nd eds., Thomson-Reuters, Sydney

Limitations / Problems Of Bcg Essays - Strategic Management

Limitations / Problems Of Bcg Limitations / problems of the BCG Matrix 1. The problems of getting data on the market share and market rate 2. There is no clear definition of what constitutes a market 3. A high market share need not necessarily lead to profitability all the time. 4. The model employs only two dimensions market share and growth rate. This may tempt management to emphasis a particular product or divest prematurely. 5. Low share businesses can be profitable too. 6. It considers the product or SBU only in relation to one competitor: the market leader. It misses small competitors with fast growing market shares. Critiques of BCG Matrix 1. In another word: by definition, only a single company can have a share greater than 1.0 in any given market. Thus, in the BCG matrix, there can be but one cash cow or one star per market. 2. The BCG model implies resource allocation rules regarding cash usage. Assumptions of BCG 1. This matrix assumes that a larger market share in a growth market leads to profitability. An effort to obtain a large market share in a slowly growing market requires too much cash. 2. The higher the growth rate, the easier to gain market share Uses / Application of BCG Matrix 1. If a company is able to use the experience curve to its advantage, it should be able to manufacture and sell new products at a price low enough to get early market share leadership. Once it becomes a star, it is destined to be profitable. 2. BCG model is helpful to management in evaluating the firms current balance among stars, cash cow, problem child and dogs. 3. BCG model is applicable to large companies that seek volume and experience effects. 4. The model is simple and easy to understand. 5. It provides a base for management to decide upon and prepare for contingent future courses of action. BCG as a planning tool 1. The BCG growth share matrix is widely used as a strategic planning tool giving planners a sense of direction. 2. The matrix facilitates the strategic planning process and service as a rich source of ideas about possible strategic options. 3. In multi-product organizations, management can use this matrix as a guide to allocate limited resources. BCG MATRIX 22% 10% market growth rate 0% 10x 1.5x 1x 0.1x Relative market share 1. The BCG matrix is plots the businesss relative competitive position as expressed by the market share and the growth rate of its industry on the vertical axis. The company is represented by as a circle on the matrix. The diameter of the circle represents the size of the business (usually in terms of the sales) in relation to the sizes of other businesses in the portfolio. 2. Market growth rate: represent the annual growth rate of the market in which the business operates. 10% is considered high. 3. Relative market share: refers to the SBUs market share relative to that of its largest competitor in the segment. It serves as a measure of the companys strength in the relevant market segment. 0.1x means that the companys sales volume is 10% of the leaders sales volume. 4. Question marks: - - business that operate in high-growth market but have low relative market shares. Most business start off as question marks. A question markets requires a lot of cash to spend on plant, equipment to keep up with the fast-growing market. 5. Stars: if the question marks are successful, it becomes a star. A star is the market leader in a high growth market. A star does not necessarily produce a positive cash flow for the company. The company must spend substantial funds to keep up the high market growth and fight off competitor attacks. 6. Cash cows: When a markets annual growth rate falls to less than 10 percent, the star becomes a cash cow if it still has the largest relative market share. A cash cow produces a lot of cash for the company. The company does not have to finance capacity expansion because the markets growth rate has slowed down. Because the business is the market leader, it enjoys economies of scale and higher profit margins. Cash cows can be used to support other businesses 7. Dogs: Dogs are businesses that have weak market shares in low growth markets. They typically generate low

Huey Newton, Co-Founder of Black Panther Party

Huey Newton, Co-Founder of Black Panther Party Huey Newton was an African American political activist who co-founded the Black Panther Party in 1966. When Newton was convicted for the fatal shooting of a police officer, his imprisonment became a common cause among activists in the United States. The slogan Free Huey appeared on banners and buttons at protests across the country. He was later released after two re-trials resulted in hung juries. Fast Facts: Huey Newton Known For: Co-founder of the Black Panther Party for Self DefenseBorn: February 17, 1942 in Monroe, LouisianaDied: August 23, 1989 in Oakland, CaliforniaEducation: Merritt College (A.A.), University of California at Santa Cruz (B.A., Ph.D.), Oakland City College (law classes, no degree), San Francisco Law School (law classes, no degree)Notable Quote: Political power comes through the barrel of a gun. Early Life and Education Huey P. Newton was born in Monroe, Louisiana, on February 17, 1942. He was named after Huey P. Long, the former governor of Louisiana who became notorious as a radical populist in the early 1930s. In 1945, Newtons family moved to California, drawn by the job opportunities that arose in the Bay Area as a result of the wartime industrial boom. They struggled financially and moved around often throughout Newtons life. He completed high school- which he later described as an experience that nearly killed [his] urge to inquire- without being able to read (he later taught himself). After high school, he earned an A.A. degree from Merritt College and took law school classes at Oakland City College. Starting in his teen years and continuing through college, Newton was arrested for crimes like mostly petty crimes such as vandalism and burglary. In 1965, when he was 22 years old, Newton was arrested and convicted of assault with a deadly weapon and sentenced to six months in jail. Most of his sentence was served in solitary confinement. Founding the Black Panther Party During his time at Oakland City College, Newton joined the Afro-American Association, which inspired him to become politically and socially conscious. He later said that his Oakland public education had made him feel ashamed of being black, but that his shame began to transform into pride once he encountered black activists. He also began reading radical activist literature, including works by Che Guevara and Malcolm X. Newton soon realized that there were few organizations advocating for lower class African Americans in Oakland. In October 1966, he joined up with Bobby Seale to form a new group, which they called the Black Panther Party for Self Defense. The organization was focused on fighting police brutality in Oakland and San Francisco. With Seale as chairman and Newton as minister of defense, the Black Panthers quickly assembled a membership and began patrolling Oakland neighborhoods. When police were spotted interacting with black citizens, the Panthers would approach and inform the civilians of their constitutional rights. Newton took part in such actions, sometimes while brandishing a law book. The organization adopted a uniform of black leather jackets, black berets, and sunglasses. This distinct uniform, as well as their prominent display of guns and bandoliers of shotgun shells, made the Black Panthers highly noticeable. By the spring of 1967, stories about Newton and the Black Panthers began appearing in major publications. Guns and Political Power The Black Panthers encouraged black citizens of Oakland to begin carrying firearms, citing their Constitutional right under the Second Amendment, and tensions between police and the Black Panthers continued to grow. An article published in the New York Times on May 3, 1967 described an incident in which Newton, Seale, and about 30 other Black Panthers strode into the California capitol in Sacramento with their weapons prominently displayed. The story was headlined Armed Negroes Protest Gun Bill. The Black Panthers had arrived in dramatic fashion to voice their opposition to a proposed law against carrying firearms. It seemed the law had been drafted specifically to curtail their activities. Weeks later, in another article in the New York Times, Newton was described as being surrounded by armed followers in an apartment in San Franciscos Haight-Ashbury neighborhood. Newton was quoted as saying, Political power comes through the barrel of a gun. Arrest and Conviction About a year after the Black Panthers first rose to prominence, Newton became entangled in a high-profile legal case. The case centered around the death of John Frey, who died after pulling over Huey Newton and a friend for a traffic stop. Newton was arrested at the scene. In September 1968, he was convicted of voluntary manslaughter and received a sentence of two to 15 years in prison. Newtons incarceration became a major cause among young radicals and activists. Free Huey buttons and banners could be seen at protests and anti-war rallies nationwide, and rallies for Newtons release were held in numerous American cities. At the time, police actions against Black Panthers in other cities made headlines. In May 1970, Newton was granted a new trial. After two trials were held and both resulted in hung juries, the case was dropped and Newton was released. The specific events, as well as Newtons potential culpability, surrounding John Freys death remain uncertain. Later Life Following his release from prison in 1970, Newton resumed leadership of the Black Panthers and began studying at the University of California at Santa Cruz, where he earned a B.A. in 1974. After a period of relative quiet, Newton was charged with the murder of a teenage sex worker named Kathleen Smith. He was also arrested for assaulting his tailor. Newton fled to Cuba, where he lived in exile for three years. In 1977, Newton returned to California, asserting that the political climate in the United States had changed enough that he could receive a fair trial. After juries were deadlocked, Newton was acquitted of the murder of Kathleen Smith. He returned to the Black Panther organization, and also returned to college. In 1980, he received a Ph.D. from the University of California at Santa Cruz. He wrote a thesis about the repression of the Black Panthers. Death and Legacy In the 1980s, Newton grappled with drug addiction and alcohol abuse. He remained involved with neighborhood programs pioneered by the Black Panthers. However, in 1985, he was arrested for embezzling funds. He was later arrested on a weapons charge, and was also suspected of being involved in the drug trade. In the early hours of August 23, 1989, Newton was shot and killed on a street in Oakland, California. His killing was reported on the front page of the New York Times. Tyrone Robinson confessed to the murder, and it was concluded that the killing was connected to Newtons significant debt caused by his cocaine addiction. Today, Newtons legacy is one of leadership within the Black Panther Party, as well as his controversial convictions and allegations of violence. Sources Nagel, Rob. Newton, Huey 1942–1989. Contemporary Black Biography, edited by Barbara Carlisle Bigelow, vol. 2, Gale, 1992, pp. 177-180. Gale Virtual Reference Library.Huey P. Newton. Encyclopedia of World Biography, 2nd ed., vol. 11, Gale, 2004, pp. 367-369. Gale Virtual Reference Library.Spencer, Robyn. Newton, Huey P. Encyclopedia of African-American Culture and History, edited by Colin A. Palmer, 2nd ed., vol. 4, Macmillan Reference USA, 2006, pp. 1649-1651. Gale Virtual Reference Library.Associated Press. Huey Newton Killed; Was a Co-Founder Of Black Panthers. New York Times, 23 August 1989, p. A1.Buursma, Bruce. Newton Slain In Drug Dispute, Police Say. Chicago Tribune, 27 August 1989.

Bank liquidity risk Essay Example | Topics and Well Written Essays - 1250 words

Bank liquidity risk - Essay Example The ability of the financial firm to meet its debts requirement without suffering large losses is known as liquidity (DrigÄÆ' & Adela, p.46-55). Financial firms must, therefore, maintain a liquidity management system to assess their respective funding needs and to ensure funds are available at the appropriate time. This paper aims at analyzing the liquidity risks by considering its measures and its relationship with the bank stock returns. The historical episodes of the financial and economic woes of the 2007-8 have been highlighted and critical to the funding of the liquidity for banking crises. It created unforgettable mark of the funding liquidity crisis when the interbank markets collapsed and the central banks in the world had to intervene in the monetary processes (markets) at unwarranted levels (DrigÄÆ' & Adela, p.46-55). The situation led to the realization of the gap through development of measures based on the banks’ bids in open market operations. The measure to the liquidity risk helps in assessing the interactions of the market liquidity and the funding liquidity risk that are key concerns to most economic policy makers. According to Hull (2012), funding liquidity is the ability to settle immediate financial needs of a firm. Conversely, a bank becomes illiquid in the event that it is unable to meet its financial risk on time. In this case, therefore, it is paramount to realize that funding liquidity risk for the bank is driven by the possibility that a bank may find itself at a position where it is unable to settle its financial obligations on the due time. Funding liquidity depends on the risks magnitude and is an instant concept as the risk is a future-oriented concept. In the bank operations, illiquidity and liquidity is a reality, and the likelihood of either is a function of the time and nature of the funding position of the bank. Thus, the concerns of

Interpretation of the Enron Story Essay Example | Topics and Well Written Essays - 1000 words

Interpretation of the Enron Story - Essay Example Considering the unpredictable circumstances and calculated risks, Enron was successful on paper. This was reflected in the financial reports suggesting the extent of growth in the financial capability of the company. Specifically, the level of stocks reported by the company has skyrocketed. The information provided by the Enron 10-K annual report suggests that it was only in 1997 that the company experience a decline. The growth, however, can overcome such deficit. The best years of the company was observed from 1998 to 2000. Based on the information, the stock performance of Enron illustrated a positive growth of 37%, 56%, and 87% positive growth during the years mentioned in succession. Positive growth was also recorded from 1993-1995 which showed increase in stock ranging from 5%-25% (Healy and Palepu, 2003). The growth in stock is generally perceived as an advantage for the company. Increasing the stocks means that more investors become willing to invest in Enron. This will improve the financial resources of the company because the market capital also expands. Accordingly, this performance was fuelled by the intricate schemes of Enron in managing its operations. By 1995 accountants at Arthur Andersen knew Enron was a high-risk client who pushed them to do things they weren't comfortable doing. James Hecker wrote a parody to that effect in 1995. Discuss and analyze this parody and how it applies to Enron Accounting and Arthur Anderson. James Hecker was a partner of Enron based in Houston. Hecker became known for the parody of the Eagle's song Hotel California. Hecker made an analogy of the song as the likely situation that is observed between Andersen and Enron. Although the parody was written in 1995, it became an immediate source of reasoning for investigating Andersen for the Enron debacle. It has to be noted that Hecker also testified against Andersen further strengthening the evidences against the trouble auditing firm. According to Hecker, Andersen had knowledge on the nature of Enron's operations. The company even branded Enron as a high risked firm that is willing to do all means required to achieve its goals. Moreover, Hecker described the relationship of the Andersen employees to Enron. In the exact words, Hecker said: "Managers in the doorway, thinking out of the box. And I was thinking to myself, I'll bust by butt and then I'll bust my rocks (Schepp, 2002)." This satire showed how generously the employees of Andersen working for Enron were compensated and provided with great incentives. Moreover, Hecker described Enron as a lovely face and a fragile place. Basically, Hecker has knowledge on the true status of the company. Physically, Enron appears to be growing as it's financial reports suggest growth. On the other hand, Hecker had a premonition that the company was troubled inside. Hecker even mentioned in the satire that the managers will soon bring their alibis to court. Precisely, Hecker highlighted the events that will happen years later. Enron's malfeasance led to the creation of the Sarbanes-Oxley Act. Please briefly describe the law and discuss its implications. Do you think it will eliminate future "Enron Like" scandals As U.S. witnessed the biggest corporate downfall in Enron, several policy makers have exerted efforts to prevent such from happening again. In response to the situation, the Sarbanes-Oxley Act was passed to emphasise management accountability. The Act

A Case Study Of The Food Company Nestle Marketing Essay

A Case Study Of The Food Company Nestle Marketing Essay With reference to the Nestle case study, provide one example which clearly illustrates a link between topics or concepts drawn from at least two pre-requisite modules. Nestle is one of the oldest of all multinational business. Nowadays, Nestle is one of the biggest food and nutrition companies in 86 countries in the world. (Hill, 2009 pp). Nestle was involved with a range of acquisitions in the last years in order to extend its line of products and try to expand on a geographical scale. Since its sales are reducing in developed markets, Nestle has the opportunity to expand business in up and coming countries, which is going to generate more profit for the company. Up and coming countries is one sector that Nestle is going to invest money in because it has the potential to be a strong and attractive market. Nestle feels confident in doing so because in such countries population economy and technology has experienced a rapid growth. (Datamonitor, 2006). Nestles long-term strategy is to identify the quickly expanding countries first and get into the market as soon as possible in order to take advantage of other competitors. However, it first has to hold the leading position in the developed markets where it is currently placed. Also Nestle has to hire local managers and staff in the developing markets that understand the local market dynamic and culture. As explained above there is a link between Nestlà ©s strategy and the Strategic management, because companies employ managers from respective countries in the local companies due to the fact that they understand the local market dynamics. By hiring local manager they can take advantage of the local knowledge and own culture of the country. FIGURE 1 Figure 1 Source: Own diagram It is a huge advantage that Nestle works with local managers in fast rising emerging countries. As a result, Nestle will have quick results which lead to quick profits. As we can see in FIGURE 1 above, Nestle is closely related to the Strategic management module because companies will have a range of research(reports) on fast growing countries. Therefore, they will have the ability to balance the services they are able to provide (food, cereals, coffee, chocolate, drinks, ice cream, etc) (Nestle 2011), with the price that customers are willing to pay. For example, if people cannot afford the Nestle products then they will not expand in such countries but focus their attention and invest in countries where people are able to buy their products. Also, Nestle is connected with methods of enquiry with Emerging markets. Companies will have less space to roam around and make decision considering that much of their movements are controlled by the market reaction. This means that emerging markets are countries with social or business activities in the process of rapid growth and industrialization. The Nestle case study as clearly explained above illustrates a good link with the Strategic Management/Methods of Enquiry and the Market dynamic/Emerging markets respectively. Does it make sense for Nestle to focus its growth efforts on emerging markets? Why? The recent financial crisis that reverberated throughout the globe was a clear indicator of the interdependence and the codependence that globalization has created while simultaneously making it clear to everyone that the emerging economies, especially those that make up BRIC (Brazil, Russia, India and China) are more resilient than western economies, thus making them engines of growth that have helped the recovery effort in the last few years. Therefore from that point of view alone it can be stated that yes, Nestlà ©s strategy to focus its growth efforts in developing or emerging markets is indeed a sound one. However this does not mean that the ability of these markets to recover faster than the western economies should bebe sole reason for such a decision. Rather there are many more and varying reasons that need to be taken into consideration. The onset of globalization for one thing has helped uplift the living standards of many in China and India and millions of families have climbed out of poverty and are able to aspire to better life styles and a better standard of living, thus creating new markets companies like Nestle (Latshaw and Choi, 2002, pp. 27). Next as has been stated in the case study, the number of individuals who can be considered as middle class in these two economies alone will exceed 700 million in the coming decade, which is more than the entire population of 500 million in the European region or the 300 million in the United States, thus making this a very lucrative market for Nestle and one that needs to be exploited with immediate effect (Crook, Bratton, Street Ketchen, 2006, pp. 409 412). Besides the above Nestle as a multi national company has a decentralised structure and has often emphasised the need for attracting, recruiting and selecting host country nationals to be employed in its manufacturing plants across the world and this again is a very strategic and wise decision (Cesnovar, 2006, pp. 227 229). By decreasing unemployment rates, being socially responsible corporate citizen and helping to uplift the standard of living in these regions of the world, the company is earning the respect of the populatio n, which can soon be converted to public relations win, thus it can be stated that this strategy makes immense sense at the present time (Mclean, 2006, pp. 36). Last but not least it should also be stated that by gaining first mover advantage of providing basic food stuffs through which brand loyalty is created the company stands to gain much as most consumers will not switch to other brands but rather decide to stick with the trusted brand even when they are ready to move to the more upscale and upmarket products that are provided by the company (Gratton, Hailey, Stiles Truss, 1999). Therefore it can be stated that from every point of view, whether it is as a consumer products manufacturer or an employer, Nestle stands to gain much through this growth strategy of focusing on emerging markets. What is the companys strategy with regard to business development in emerging markets- Does this strategy make sense- From an organizational perspective, what is required for this strategy to work effectively? As is clear from the information that has been provided in the case study, Nestle uses a variety of different strategies to develop its business activities and markets in the emerging markets. While many maybe of the opinion that only one or two strategies should be used in order to ensure that synergies of scale are gained and that there is consistency across the operations, such a customization of strategy to meet the specific needs of an economy is highly commendable (Marshall, Smith Buxton, 2009, pp. 14 18). For instance in countries like India and China, Nestle has entered the market by providing low cost brand name basic food stuff like condensed milk and infant formula, in doing so the company has also located its manufacturing plants within the countries and the regions, employed host country nationals and helped uplift their living standards. Thus not only has the company provided them with a livelihood by employing them and purchasing local produce from local farmers and businessman, but in doing so has also created loyalty to its brand, which is something priceless (Karake-Shalhoub, 1999). As the living standards and the income levels of these individuals and entrepreneurs increase, they will no doubt continue to be loyal to the Nestle brand and purchase the more upscale and products that are sold by the company, when they are ready to move from basic food stuffs to more branded and upscale foods stuffs like cookies and chocolate. Likewise another strategy that is being used by the company is to enter markets like Nigeria and China and invest in basic infrastructure to ensure smooth distribution channels, while many may see this as a waste, in the long run, the company has gained a strong foothold in the marketplace, created job opportunities and further increased the visibility of its brand and thus increased entry barriers for the competition (Sims, 2003), thus it can be stated that this is indeed a very good business development strategy that is being followed by the company at the present time. From an organisational perspective for an a strategy to work effectively it is necessary to ensure that the strategy is developed in such a manner that it would fit the market needs and help the company to gain a comparative advantage (Oladunjoye Onyeaso, 2007, pp. 592 598). Based on everything that has been stated above and the manner in which Nestlà ©s is currently operating in China, India, Africa, the Middle East and Eastern Europe, it is clear that the company has adopted many different successful strategies that are helping it to gain a competitive edge in these markets while continuing to benefit from the first mover advantage that it has created for itself. Through research on NESTLE, identify appropriate performance indicators. Once you have gathered relevant data on these, undertake a performance analysis of the company over the last five years. What does the analysis tell you about the success or otherwise of the strategy adopted by the company? An analysis of Nestlà ©s performance indicates that the Company has been able to improve its performance over the years. The sales of the Company reached a record of US $73 billion, and growth in profits was 20.7% in 2005. In 2005, Europe amounted to 30% of sales, Americas 34%, and Asia, Oceania and Africa 17% of the sales. Nestle is aware that it need to adjust its offering if it is to reach its target of 5-6% growth per year. (Country Monitor, 2006). Public Image In a world that is becoming increasingly complex, consumer needs and wants continue to become more sophisticated on a daily basis. Unlike in the past when companies could simply mass produce and sell products to the end user, today, consumers are demanding more not only in terms of pricing and quality but also in terms of corporate social responsibility. Therefore it is necessary for Nestle to continuously monitor and manage its public image and it is also very important from a strategic perspective that the company is seen as a socially responsible corporate citizen (Niederhut-Bollmann Theuvsen, 2008, 63 68). Compared to many other multi national companies, Nestlà ©s has not earned the public ire for being irresponsible socially, however as the global slave trade for chocolate manufacturers comes to light it is essential that Nestlà ©s looks at ways and means to ensure that it is not ensnared in such a public relations nightmare. Sales Growth This is a very important performance indicators and should give the company a sense of its successes and failures in terms of strategy. Currently the company has been doing very well on this front and should carefully monitor the external and the internal environments for any factors that may pose a threat to its continued success in this area (Roberts, 2001, pp, 25 28). Following a growth strategy in emerging markets is actually a very good strategy that has paid off and continues to pay off, however this does not mean that the company can afford to be laid back on this score. Market Share By gaining first mover advantage the company has been able to gain and retain its market share through the years, however it is also necessary that the company continues to learn from its past mistakes in Japan and other countries, where it did not take the competition seriously and therefore has lost much in terms of market share that it could otherwise have gained (Odagiri, 1992). Blue Ocean Strategies As markets continue to mature and other markets continue to develop it is imperative that the company focuses its attention on research and development and creates blue oceans in order to find new markets (Gubman, 2004, pp. 13). This is something that Nestle is currently lagging at and needs to pay particular attention to with immediate effect. Based on everything that has been stated above it is therefore clear that while the company does excel in areas such as managing its public image and sales growth, there is much more improvement needed to be made in the search for innovative market strategies that will help force it to success in the future. How would you describe Nestlà ©s strategic posture at the corporate level; is it pursuing a global strategy, a multidomestic strategy an international strategy or a transnational strategy? Figure 2 Which Structure to Choose? Source: http://www.wiziq.com/tutorial/380-International-Strategy Illustrated above is a depiction of the different corporate level strategies that can be adopted by multi national companies the world over. Such strategy is often chosen on the degree of need for global integration and local market responsiveness (Kaplan and Norton, 2001, pp. 87). Based on the information that has been provided in the case study it is clear that Nestle is a company that need to gain a high level of local market responsiveness due to the variety of different business development related strategies that is pursuing in different parts of the world. For instance while in the Middle East it has entered the markets by building five different lines of products that it hopes will be distributed across the region as trade barriers fall, in countries like China and India, it is pursuing a different strategy of meeting the basic food needs of the population with items such as infant formula and condensed milk. It is the intention of the company in these markets that once stand ards of living increase, they can leave these Niche markets and provide consumers with more upscale and upmarket products like chocolates and cookies. Further it can also be stated that as a company with only 1% of its revenue being earned in the home country and 8000 different brands, global integration is a must (Lowson, 2002). Therefore it is the opinion of the writer that Nestle need to choose between the multi domestic strategy and a transnational strategy and not swing from one to another, because doing so would only result in the company loosing focus of its final aim, which is to be a global consumer food products leader (George, 2007, pp. 66 71). Based on the information that has been provided in the case study it is the opinion of the writer that Nestlà ©s should choose a transnational strategy because it balances both the global integration needs of the company and the local market responsiveness that is necessary to ensure that the companys products will be competitive and continue to meet the needs of the local population in the emerging markets that it is operating in (Marks, 2005, pp. 1). While many maybe of the op inion that the company should continue to pursue its multi domestic strategy as it has worked well for it in the past, the changing needs of the global environment and the development taking place in the emerging markets make it necessary to gain synergies of scale and global integration for the many brands that it has under its belt and therefore a transnational strategy is the best option for Nestlà ©s in the future (Barney and Hesterly, 2008). Does this overall strategic posture make sense given the markets and countries that Nestle participates in? Why? The overall strategic posture of Nestlà © makes a lot of sense given the fact that it is operating in virtually every country in the world, with a huge presence in the emerging markets. According to Hill (2006), that multidomestic strategy is appropriate in a market where the pressures for local responsiveness is very high and as a results the pressures for the cost reduction is low. Especially, pressures for local responsiveness can be very high in some productions, such as food, chocolates, dairy nutrition and etc. From the time when consumers have many national differences in tastes and preferences, distribution channels, competitive conditions, business practices, culture and government policies in the markets in which Nestlà © operates, therefore following a multidomestic strategy is beneficial for the Company. The difference in cultures and purchasing power (Prahalad et al, 1998) in the middle class population in emerging markets imply that in order for a first mover to gain advantage, it must be willing to adapt its product and offer in accordance with the needs of the local market. Figure 3 Source: http://www.docstoc.com/docs/5632428/Ethnocentric-Polycentric-Geocentric-Diagrams As stated in the previous section the overall strategy that is currently being followed by Nestles is one that focuses on local market responsiveness over global integration, which in effect results in a multi domestic strategy (Shackman, 2007, pp. 479 488). It is no doubt however that such a strategy has indeed helped the company to gain the level of success that it currently enjoys in emerging markets, and therefore can be considered as good. However we should always remember that strategies should promise equal or more success in the future as they do for the company today (Cabrera and Cabrera, 2003, pp. 41) and therefore reviewing the strategy from such an angle would work to the benefit of the company in the long run. The company currently follows a regiocentric attitude as is clear from the illustrations above, while it can be reiterated that this type of structure and strategy works to the advantage of the company, in the long run as the emerging markets being to mature and t he company continues on its mergers and acquisitions strategies to enter new markets in Eastern Europe, it will become essential that the company gains some level of global synergy and integration (Mcwilliams, Van Fleet, Wright, 2001, pp. 1). Therefore it is the recommendation of the writer that the company begins to embark on a transnational strategy with a Geocentric attitude, which will eventually help it to have a more global view with flexibility to make necessary changes at local level whenever and as frequently as needed (Donaldson OToole, 2002). Therefore in conclusion it can be stated that even though the current strategic posture makes sense, it needs to be reviewed and modified if the company is to continue to penetrate, gain and retain market share in the emerging economies as well as the developed economies the world over (Mockler, 1999). Is Nestles management structure and philosophy aligned with its overall strategic posture? The overall structure and the strategy of the company as stated previously and has been made clear to the reader throughout the case study, is that the company pursues a multi domestic strategy, due to the need to have a high responsiveness to the local market needs (Drejer, 2002). While this is impressive, the company goes further to also ensure that it is staffed by local nationals in the host countries and that power and authority is decentralised as much as possible, again indicating that the management structure is indeed very much aligned to its philosophy of local autonomy and its multi domestic strategy (Silverman, 2002). However instead of relying on the local managers alone, the company also has a pool of at least 700 expatriate managers who travel from one country to another ensuring that the local and regional strategies of the company are upheld and global integration is a possibility (Mintzberg Rose, 2003, pp. 270 277), while this may sound like a sound and often a wi se move on the part of the company, the fact that none of the regional international managers get involved in local level stratey design and the fact that none of the local level managers are involved in the global strategy design and development leaves a disconnect that can cost the company dearly in the long run and therefore it is necessary to take a close look at the integration of both and make changes wherever necessary (Betz, 2001). Based on everything that has been stated above, it is therefore the opinion of the writer that greater global integration is necessary as the company moves forward and hopes to retain its place as a market leader by gaining large shares of the market in emerging economies, which it has strived hard to build over the last few decades. In effect it is therefore necessary to ensure that there is high levels of global integration and simultaneously ensure that there is high levels of local market responsiveness as well (Lefkowith, 2001, pp. 20). As stated previously this is only possible if the company follows a transnational strategy and this strategy and philosophy should be made a possibility by changing the current management structure within the company to one that allows for regional managers to gain an understanding of local issues and challenges and vice versa. This will help the company to align its goals and objectives both on an international local level and thus be more integ rated in both spheres.