Enron

The Enron scandal has far-reaching political and financial implications. In just 15 years, Enron grew from nowhere to be America's seventh largest company, employing 21,000 staff in more than 40 countries. But the firm's success turned out to have involved an elaborate scam. Enron lied about its profits and stands accused of a range of shady dealings, including concealing debts so they didn't show up in the company's accounts. As the depth of the deception unfolded, investors and creditors retreated, forcing the firm into Chapter 11 bankruptcy in December. More than six months after a criminal inquiry was announced, the guilty parties have still not been brought to justice. Leaders Leadership is critical to the creation and maintenance of culture; there is a constant interplay between culture and leadership. Leaders create the mechanisms for cultural embedding and reinforcement. Cultural norms arise and change because of what leaders tend to focus their attention on, their reactions to crises, their role modeling, and their recruitment strategies. Referring to Enron, the major mistake made by leaders are as follows: Compensation Programs As in most other U. S. companies, Enron’s management was heavily compensated using stock options. Heavy use of stock option awards linked to short-term stock price may explain the focus of Enron’s management on creating expectations of rapid growth and its efforts to puff up reported earnings to meet Wall Street’s expectations. The stated intent of stock options is to align the interests of management with shareholders. But most programs award sizable option grants based on short-term accounting performance, and there are typically few requirements for managers to hold stock purchased through option programs for the long term. The experience of Enron, along with many other firms in the last few years, raises the possibility that stock compensation programs as currently designed can motivate managers to make decisions that pump up short-term stock performance, but fail to create medium- or long-term value (Hall and Knox, 2002). Dishonestly concealed debt and overstated earnings. Management t Enron Corp. admitted it overstated earnings for nearly five years. In an SEC filing, Enron said financial statements from 1997 through the third quarter of 2001 â€Å"should not be relied upon, and that outside businesses run by Enron officials during that period should have been included in the company's earnings reports. As a result, Enron is reducing earnings for those years by $586 million, from $2. 89 billion to $2. 31 billion. The company also acknowledged that part of earnings came from deals with partnerships controlled by recently sacked CFO Andrew Fastow. These transactions are already being investigated by the Securities and Exchange Commission. Enron said these deals enabled Fastow to earn more than $30 million. Enron also conceded that three entities run by company officials should have been included in its financial statements, based on generally accepted accounting principles. In addition, the company revised its debt upward in each year from 1997 to 2000. As a result, Enron's debt at the end of 2000 was $10. 86 billion, $628 million more than previously reported. Enron’s Performance Review System. PRC featured two basic motivational forces – fear and greed. Skilling wanted to keep only â€Å"the very best,† meaning those who produced their profit and volume target– so every six months one or two out of every ten employees were dismissed. In pitting employees against each other, the rank-and rank System acted to stress the imagined weaknesses of individuals and to obfuscate organizational problems. In sum, this led to an erosion of employee confidence in their own perceptions and, most crucially, to further compliance with the organization’s leaders in a way that strengthened conformist behavior. In practice, the PRC system worked to encourage â€Å"entourages† or â€Å"fiefdoms† (Dallas 2003) of loyal employees who gravitated towards powerful players for protection. The PRC was a powerful mechanism for preventing the emergence of subcultures running counter to the organizational tone set by Enron’s hierarchy. Members of the Risk Management and Assessment Group who reviewed the terms and conditions of deals (and who were largely inexperienced recent MBA graduates) as well as internal auditors, were fearful of retaliation in the PRC from persons whose deals they were reviewing (Chaffin and Fidler 2002; Dallas 2003). At best, control was compliance-based, seldom encouraging employees to follow either the letter or the intent of laws (Dallas 2003). This punitive environment brought the consequences of dissent sharply into focus. Enron’s culture has been characterized as â€Å"ruthless and reckless †¦ lavish rewards on those who played the game, while persecuting those who raised objections† (Chaffin and Fidler 2002, 4-5). Led by Skilling’s cavalier attitude to rules, top management conveyed the impression that all that mattered was for employees to book profits. In sum, this led to an erosion of employees’ confidence in their own perceptions and, most crucially, to further compliance with the organization’s leaders in a way that strengthened conformist behavior. Former employees have noted how â€Å"loyalty required a sort of group think† (Chaffin and Fidler 2002, 2) and â€Å"that you had to ‘keep drinking the Enron water’† (Stephens and Behr 2002, 2). A myth of smooth, flawless operations was perpetuated with problems â€Å"papered over† (McLean 2001, 58). The net effect of the rank-and-yank system was to decrease the likelihood that employees would raise objections to any illegal or unethical behavior of powerful players. The competitiveness the PRC created was exacerbated by Enron’s bonus regime. As one insider put it, â€Å"sure, the culture at Enron was treacherous, but that was the point† (Swartz and Watkins 2003, 56). Ultimately, the overestimation of profits and underestimation of costs was endemic to the organization. The cheat on debt and financial report lead to character erosion which destroys the image of this company and loss of business and social standing. The harsh policy alliance the relationship between managers and ordinary workers, make well-intentioned employees were inhibited from doing the right thing. Board Board of Directors in Enron’s collapse concluded that the firm had developed a pervasive culture of deception (Senate Subcommittee 2002). As such it was designed and operating at the level of connivance. CEO Lay used direct force to fire any possible successor with whom he disagreed and either he or other top Enron managers used indirect force to deceive and manipulate employees and other stakeholders for top executive advantage. Whatever standard operating procedures were developed at the level of conformance were honored only to the extent that they did not infringe upon executive perks or interfere with top executives exercising a type of feudal control over internal subjects. When external compliance threatened to restrict Enron corporate prerogatives, aggressive tactics to reduce or liminate regulatory standards were routinely employed. The extent and degree to which illegal non-compliance was the cultural norm at Enron will be determined in the courts. Enron did not reach the commitment level; it never democratized its power structures so that employee and community input could shape strategic direction or restrain executive perks. For all intents and purposes, the work culture of Enron was that of a moral jungle where abuse of power dominated principled economic democratic norms; it was a moral powder keg ready to explode. (1) Fiduciary Failure.  The Enron Board of Directors failed to safeguard Enron shareholders and contributed to the collapse of the seventh largest public company in the United States, by allowing Enron to engage in high risk accounting, inappropriate conflict of interest transactions, extensive undisclosed off-the-books activities, and excessive executive compensation. The Board witnessed numerous indications of questionable practices by Enron management over several years, but chose to ignore them to the detriment of Enron shareholders, employees and business associates. 2) High Risk Accounting. The Enron Board of Directors knowingly allowed Enron to engage in high risk accounting practices. (3) Inappropriate Conflicts of Interest. Despite clear conflicts of interest, the Enron Board of Directors approved an unprecedented arrangement allowing Enron’s Chief Financial Officer to establish and operate the LJM private equity funds which transacted business with Enron and profited at Enron’s expense.  The Board exercised inadequate oversight of LJM transaction and compensation controls and failed to protect Enron shareholders from unfair dealing. (4) Extensive Undisclosed Off-The-Books Activity. The Enron Board of Directors knowingly allowed Enron to conduct billions of dollars in off-the-books activity to make its financial condition appear better than it was and failed to ensure adequate public disclosure of material off-the-books liabilities that contributed to Enron’s collapse. (5) Excessive Compensation.  The Enron Board of Directors approved excessive compensation for company executives, failed to monitor the cumulative cash drain caused by Enron’s 2000 annual bonus and performance unit plans, and failed to monitor or halt abuse by Board Chairman and Chief Executive Officer Kenneth Lay of a company-financed, multi-million dollar, personal credit line. (6) Lack of Independence. The independence of the Enron Board of Directors was compromised by financial ties between the company and certain Board members. The Board also failed to ensure the independence of the company’s auditor, allowing Andersen to provide internal audit and consulting services while serving as Enron’s Outside Accountants/Auditors Andersen's auditors were pressured by Enron's management to defer recognizing the charges from the special purpose entities as their credit risks became clear. Since the entities would never return a profit, accounting guidelines required that Enron should take a write-off, where the value of the entity was removed from the balance sheet at a loss. To pressure Andersen into meeting Enron's earnings expectations, Enron would occasionally allow accounting firms Ernst & Young or PricewaterhouseCoopers to complete accounting tasks to create the illusion of hiring a new firm to replace Andersen. Although Andersen was equipped with internal controls to protect against conflicted incentives of local partners, they failed to prevent conflict of interest. Revelations concerning Andersen's overall performance led to the break-up of the firm, and to the following assessment by the Powers Committee (appointed by Enron's board to look into the firm's accounting in October 2001): â€Å"The evidence available to us suggests that Andersen did not fulfill its professional responsibilities in connection with its audits of Enron's financial statements, or its obligation to bring to the attention of Enron's Board (or the Audit and Compliance Committee) concerns about Enron's internal contracts over the related-party transactions†. Ethical Code/Process Enron senior management gets a failing grade on truth and disclosure. The purpose of ethics is to enable recognition of how a particular situation will be perceived. At a certain level, it hardly matters what the courts decide. Enron is bankrupt—which is what happened to the company and its officers before a single day in court. But no company engaging in similar practices can derive encouragement for any suits that might be terminated in Enron’s favor. The damage to company reputation through a negative perception of corporate ethics has already been done. Enron’s top managers chose stakeholder deception and short-term financial gains for themselves, which destroyed their personal, and business reputations and their social standing. They all risk criminal and civil prosecution that could lead to imprisonment and/or bankruptcy. Board members were similarly negligent by failing to provide sufficient oversight and restraint to top management excesses, thereby further harming investor and public interests (Senate Subcommittee 2002). Individual and institutional investors lost millions of dollars because they were misinformed about the firm’s financial performance reality through questionable accounting practices (Lorenzetti 2002). Employees were deceived about the firm’s actual financial condition and deprived of the freedom to diversify their retirement portfolios; they had to stand by helplessly while their retirement savings evaporated at the same time that top managers cashed in on their lucrative stock options (Jacobius and Anand 2001). The government was also harmed because America’s political tradition of chartering only corporations that serve the public good was violated by an utter lack of economic democratic protections from the massive public stakeholder harms caused by aristocratic abuses of power that benefited select wealthy elite.

Compare and contrast antigone&letter from a Birmingham jail essay Essay

It is very impressive how Antigone and the â€Å"Letter from a Birmingham Jail† essay are very similar despite being written in two different time periods. Antigone and Martin Luther King Junior both fought for what was good for their society. Antigone buried her brother despite the king stating that her brother was a traitor and that nobody should bury him or honor him in any way. Antigone believed that nobody could dishonor or override the gods, that includes the king. Antigone was punished. She was thrown into a cave and walled off to die slowly but she committed suicide instead. Antigone fought for what was morally right. Martin Luther king Jr. fought for civil rights in the south. At the time the south was segregated between whites and blacks,the whites often had the newest and best things. Dr. MLK believed that no matter your race, heritage or county of origin everyone should be treated equally and get to have the same opportunities to be successful. MLK got thrown in jail for parading, his anti-racism views. MLK successfully brought two different cultures of people together that had never been around each other before. neither group accepted each other with open arms but after a short backlash everyone learned to accept each other and live together as one. Dr. Martin Luther King was assassinated on a hotel balcony after standing up for what was right and what was needed to be done at the time. Antigone stood up to the king so she could respect the gods and MLK stood up for blacks civil rights. what makes them comparable is that they both changed society positively whether it be the culture or the spiritual side of things. There is a clear difference in how each protagonist died, but then Antigone and MLK go back to being very similar in the reason why they died. The man that shot Dr. Martin Luther King thought that he deserved to be punished, so that man in his mind did what he thought was the correct thing to do. In Antigone the king demonstrated the action that he thought was appropriate for Antigone disobeying his command. Both MLK and Antigone understood the risks but they still choose to stand up for what they believed what was right. MLK and Antigone are heroes who sacrificed themselves for the better of the world, both showed bravery when no one else would. Martin Luther King Jr. did what he did so future generations could be in peace with each other. Antigone did what she did to prove to the king that no mere mortal has the right to deny any person their rights to honor and pay their respects to the dead.

Essay on The Vegetarian Diet Nutrition - 612 Words

The Vegetarian Diet Nutrition Vegetarianism can be a very healthy option but only if your vegetarian diet plan is well balanced. This means eating a variety of foods including grains, fruit and vegetables, beans, pulses, nuts or seeds, a small amount of fat, with or without dairy products. Vegetarian Pyramid Offers Best Vegetarian Nutrition =================================================== For optimum nutrition as a vegetarian, follow the Vegetarian Food Pyramid. Table 1. Vegetarian Food Pyramid ================================ Eggs, Sweets Eat occasionally or in small quantities Nuts Seeds Egg Whites, Soy Milks Dairy Plant Oils Eat daily†¦show more content†¦Complementary proteins do not need to be consumed at the same time if they regularly appear in the diet. Vegetarian Diet Nutrition - Iron ================================ Although vegetarian diets are higher in total iron content than nonvegetarian diets, iron reserves are lower in vegetarians because the iron from plant foods is less well absorbed. That said, iron deficiency anemia rates are similar in vegetarians and nonvegetarians. Remember that its easier to absorb iron from food if we eat it with foods that contain Vitamin C, so have some fruit or veg containing vitamin C, or some fruit juice with your meal. Vegetarian Diet Nutrition - Vitamin B12 ======================================= Plant foods are not a reliable source of B-12 for vegetarians. Vitamin B-12 in spirulina, sea vegetables, tempeh, and miso has been shown to be inactive B-12 analog rather than the active vitamin. Although dairy products and eggs contain vitamin B-12, research indicates that lacto-ovo-vegetarians have low blood levels of vitamin B-12. Thus use of fortified foods or supplements are advised for vegans or vegetarians who limit animal foods. Vegetarian Diet Nutrition - Vitamin D ===================================== Vitamin D is poorly supplied in all vegetarian diets unless vitamin D-fortified foods are eaten. However, vegan vitamin D-fortified foods - such as soyShow MoreRelated Adequate Nutrition in Vegetarian Diets Essay2999 Words   |  12 Pages Vegetarians have diets as safe and nutritious as non-vegetarian diets. Whether someone chooses a vegetarian diet to preserve animal rights or to improve his health, his diet can be planned and maintained. Every vegetarian diet is different from another, but as long as a vegetarian learns what foods to include in his diet, he can meet all his nutritional needs contrary to common misconceptions. With careful planning, a vegetarian diet can provide all the nutrients a human body needs. FirstRead MoreVegetarian Diets are the Healthiest Diets Vegetarians have a tendency to live a longer and1700 Words   |  7 PagesVegetarian Diets are the Healthiest Diets Vegetarians have a tendency to live a longer and healthier life. They have a habit of being more concerned and attentive with their diet and what they are eating. Statistics show that vegetarian diets have been adopted by at least 7.3 million Americans today. Dictionary.reference.com states that vegetarianism is â€Å"a person who does not eat or does not believe in eating meat, fish, fowl, or, in some cases, any food derived from animals, as eggs or cheese,Read MoreEssay on Pros and Cons of Vegetarian Diet762 Words   |  4 PagesPros and cons of vegetarian diet Vegetarian diets are based on cereals, whole grains, pulses, nuts, vegetables and fruits. Lacto-ovo-vegetarians do not consume any meat, poultry or fish but include eggs and dairy products in their diets. Vegans do not consume any food obtained from animals. Other vegetarian diets include fruitarians and macrobiotic diets that are more restricted. Reference to vegetarian diets usually implies lacto-ovo-vegetarians. A number of reasons can be attributed to preferenceRead MoreThe Vegetarian Diet is Healthy and Saves the Planet Essay1441 Words   |  6 PagesHuman life and health is based on nutrition, physical activity and the existence of our planet. Without food or enough oxygen the humans can’t survive, they die. As human’s lifestyle, technology and knowledge changed over the last few decades, so did the causes of death. Obesity, which leads to the diseases on top of death reasons, has been growing in America, because of the wrong choice of diet. Meat contains too muc h fat and unnatural nutrition, which is not healthy for us. The number one factorRead MoreVegetarian Diets Are Considered As Healthy Diets1180 Words   |  5 Pages How Vegetarian Diets Are Considered As Healthy Diets There are number of type of meat like beef, chicken, pork and fish as well but there are also some people who do not eat any type of meat. So this type of people is called vegetarian. They cannot eat meat but also they cannot use other type of products which are produced from animals like egg, gelatin and milk. Vegetarian diet is a best kind of food which fulfills the needs of all types of people such as children, old ages and young people asRead MoreThe Diet Of Vegetarian Diet891 Words   |  4 PagesVegetarian Diet Aids In Combatting Preventable Disease Recently, there has been a lot of debate about vegetarian diets. Many people are switching their diets to reap the health benefits; â€Å"Surveys in the United States have estimated that nearly 30 million people eat diets that are largely or entirely meat-free† (Harvard Health Letter 6). This essay will peel away the layers of wool surrounding a vegetarian diet and answer if it provides a better quality of health. In the Science Teacher publishedRead MoreThe Key to a Healthy Vegetarian Diet719 Words   |  3 Pagesthousands of years; then why is maintaining a vegetarian diet so difficult in the 21st century? The key to a healthy vegetarian diet is knowing what to eat and what not to eat, rather than simply avoiding meat. As Hobson (2009) points out, remember, the root of vegetarian is veg, not junk. The 21st century model of vegetarianism does not always involve the daily simplicity of whole grains, pulses, and nutrient-packed vegetables. Some vegetarians reach for pre-packag ed, processed foods convenientlyRead MoreMain Elements Of A Healthy Eating System1201 Words   |  5 PagesNutrition is the process of using nutrients to support growth and provide energy to fulfil the daily needs of physical and mental activities (Human Nutrition, 2015, para. 1). Nutrition includes food intake, the process of food once in the body and the relation of nutrients and disease (Richard Robinson, 2002, p. 217). This essay will briefly outline the elements of a healthy eating system such as the food pyramid, then discuss the benefits and risks of a vegetarian diet and discuss a range of causesRead MoreThe Health Benefits Of Vegetarian Diet1295 Words   |  6 Pagesmuch as the evolution to a vegetarian diet (Albert Einstein)†.The vegetarian diet has been proposed by many, from philosophers like Plato and Nietzsche to political leaders such as Benjamin Franklin and Gandhi, and modern idols like Paul McCartney and Bob Marley. Science also supports the vegetarian die t, there are many studies demonstrating its health benefits. Being vegetarian means not eating any animal products, including all kinds of fish, or poultry. Vegetarians who consume eggs and milk orRead MoreA Comparison between Vegetarians and Meat Eaters828 Words   |  4 PagesComparison between Vegetarians and Meat Eaters During the last 20 years more and more people decide to cut their daily menu any meat and animal products for many different reasons such as fear of food poisoning, diseases or etc. However, eating meat is part of the daily life of billions of people all over the world.  Meat is a prehistoric, basic food full of proteins, iron, and amino-acids. People who eat meat live longer than vegetarians, but a meatless diet is healthier than a diet containing meat

Us History Regents Essay Topics Tips

Us History Regents Essay Topics Tips It is an impossible task to write a fantastic history paper if you write about something you find boring and don't care about in any way. Perhaps you simply do not know the subject well enough, and that's the reason you cannot locate the idea for your history essay. If it's the first time you're likely to use our article writing service, you most likely have a lot of questions. The writing process is going to be a pleasure, and your reader will delight in reading your bit of academic writing. Key Pieces of Us History Regents Essay Topics Commonly, the thematic essay is related to social problems in distinct periods of human civilization. Use the chapter exams as a pre-assessment to figure out your weak spots, then conserve time by working through only the lessons you will need. Tell our experts what sort of homework help on the internet you want to get. Every student necessitates help with homework from time to time. For example, if you ask us to compose a paper on one of the numerous American history essay topics, you can be sure your writing will be in keeping with the language style you request. There is a huge number of topics that may be used to compose impressive parts of academic writing. After the stated theme, students receive a task that they must complete in essay format concerning the theme. There isn't going to be any instances of language mix up in your whole piece. Top Us History Regents Essay Topics Secrets Academic papers cannot contain any signals of plagiarism. Students must list the tasks that will need to be dealt with. They are obliged to write this important piece of writing. On this page, they will find guidelines as well as outlines of previous Regents thematic essays. The next stage of writing a thematic paper is to decide on the appropriate technique of the way to compose a thematic essay. To begin with, the paper is passed through Copyscape application to make sure that it's not plagiarized. If you are feeling incapable of writing a fantastic paper on a certain issue, it's far better to hire our writers. A fantastic history paper is in your reach, hire one of our writers to receive it! But What About Us History Regents Essay Topics? You are going to have clear view of the way to put the entire staff together. In this way, it'll be simpler to choose what a student requirements. Students lead busy lives and frequently forget about an approaching deadline. Is one particular question that a number of students ask themselves. Whether your papers are about Canadian history essay topics or some other topic, you're still guaranteed of top quality. As a result, if your argumentative history essay topics aren't handled satisfactorily, you're to tally free to request corrections. There are various types of essays. 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Compose extra paragraphs if necessary to be able to completely answer the essay ques tion. It would be best to compose a draft. Your very first draft will incorporate all the essay's vital info but might need minor revisions to make sure the maximum quality of writing. Using Us History Regents Essay Topics A lot of history essay topics are too big for a couple pages. Do not increase your probability of being discontinued from your studies due to trusting people who can't even aid with choosing history essay topics for high school students. In case, you feel that it's impossible to compose your thematic essay punctually or you're not sure you're writing it properly use our help. Writing an effective essay demands careful attention to detail and capability to organize your thoughts concerning the most important subject of your research. Like the Delta Force of today, the ninja's principal objective was supposed to fit in their surroundings to attain their targets. The one thing that perpetuates their strength is continuously finding enemies. You also have t he ability to dissertation prospectus history the previous point by applying the art of synthesis. Just conduct a little research on this issue and check our claims all on your own.

Era of Heroes in the Golden Age of Sports - 1729 Words

The 1920’s was an era of role models and great heroes. This period was known as â€Å"The Golden Age† of sports. This was a time where Americans wanted to put the memory of the World War I in the past and appreciate life. It began with the Black Sox scandal of 1919 continuing with historic record breaking athletes. The introduction of radio made is easier for fans to follow their favorite teams. The economy of the United States was strong for most of the time. New and bigger stadiums were built and for the first time Americans began to pay money to watch such high level of competition. This is a decade to be remembered. Sports are very vital. They offer a lifestyle, an occupation, and even a dream. Sports require physical activity and skill in which a team or an individual compete against others for entertainment. As David G. McComb comments in Sports in World History, there is a high degree of training, investment, and coaching, along with spectators, rules, publicity , and institutional control that come along with these activities. While participating in sports, it is required to be able to undertake a difficult situation and perform the best out of it. Sports are definitely more than just a game. Baseball is widely known as the â€Å"national pastime† in the 1920’s. It was by far the most popular sport of the era. The most famous athlete in the country at the time was George Herman, commonly known as Babe Ruth. The right fielder for the New York Yankees hit homerun afterShow MoreRelatedCoast Guard Essay1003 Words   |  5 Pagesprotect a country, we need heroes. People can be a hero by joining the U.S. Coast Guard and protecting America before the threat hits American soil. As a child we all have heroes. A U.S. Coast Guard listened to his grandfathers stories of his World War II experience as a U.S. Marine, from when he was at Pearl Harbor during the attack to utilizing radar to detect Japanese warships and airplanes. He was member of the most prestigious military force of that era and also a member of what isRead MoreEssay on The Culture of the 1920s1817 Words   |  8 PagesRoaring Twenties broke out in Germany, Britain and France, where the second half of this decade was termed The Golden Twenties. In France and Canada, they were also called the Crazy Years (annà ©es folles) (Answers, 2006). The spirit of the Roaring Twenties was marked by a general feeling of discontinuity associated with modernity, and a break with traditions. A new and different era was felt to be coming up. Everything seemed to be feasible through modern technology; the limits that ecology andRead MoreEssay about Clash of the Titans Critique1162 Words   |  5 Pagesexamples we learned about in class and other examples I found myself, the film appears to be set around the high to late Greek classical period and also features influences from the Near East. Perseus is supposed to have founded Mycenae, meaning the era the movie appears to take place in is closer to the time the tale originated than when it supposedly takes place. This classic Greek myth of Perseus and Andromeda was one of the first founding myths and hero tales of ancient Greece (â€Å"That’s Greece†)Read More history of surfing Essay3388 Words   |  14 Pagesup out of themselves, they peak, curling into the liquid d reams that we surfers ride (Kampton 4). Surfing is not a sport, and no true surfer would ever claim otherwise. Yes, it requires all the essential elements of a sport; strength, discipline, balance and most of all practice but unlike a sport, surfing isn’t a competition. True, even most surfers refer to it as an â€Å"extreme sport†, but the truth is, we do so because it’s impossible to create a word that completely describes surfing. It is an experienceRead MoreHow The Olympic Games Changed The Lives Of The Men And Women2129 Words   |  9 Pagesshade race, but over the years new sports were added to the games such as The Hoplitodrome, The Pentathlon, and The Pancration. The Hoplitodrome can be described as a footrace with the athletes wearing full armor while running. The Pentathlon can be described as athletes competing in five events. These events were jumping, javelin, sprint, discus, and wrestling. This event was added in the Games in 708 B.C. The Pancration can be described as a very brutal spo rt that had no rules and combined boxingRead MoreMythology And The Word Of Mythology2333 Words   |  10 Pagesthe most well known mythologies is Greek mythology. Some well known Greek mythology characters were the Gods Hercules and Zeus. When one thinks of Gods and heroes, they often think of the classic strong male figure. However, there is little acknowledgement of strong female Goddesses and heroes. According to Pearson and Pope (1981), female heroes are ignored and seen as less interesting than their male counterpart (Pearson Pope 1981, p.6). This is the view even though there are so many great examplesRead MoreGeneral Aspects Of Sports Throughout Ancient Games Of Ancient Greece, Boxing, Wrestling And Pankration Essay2270 Words   |  10 PagesGeneral aspects of sports in ancient In Panhellenic games of ancient Greece, boxing, wrestling and pankration were the three major forms of combat sports. In Greece most slaves participated in these events. In many combat sports, a contestant wins by scoring more points than the opponent or by disabling the opponent. Athletes competed against others in a contest with established regulations and procedures, with the objective of beating the other competitors. From Peter Chapter 2 verse 17 it mentionsRead More Popes An Essay on Criticism4464 Words   |  18 PagesCriticism When Samuel Johnson ascribed to a new work such extent of comprehension, such nicety of distinction, such acquaintance with mankind, and such knowledge both of both ancient and modern learning as not often attained by the maturest age and longest experience, he was speaking of young Alexander Popes An Essay on Criticism (1711), written when he was about twenty, and published when he was only twenty-three years old (in Mack 177).1 Others have not been as generous in their commentsRead MoreMexico : A Great Pick For A Future Vacation2232 Words   |  9 Pagesmeans Religion and red means Union. However, later on the meanings changed on the flag because of the secularization of the country. Now green means Hope and white means Unity and red means Blood of the national heroes. The coat of arms is a symbol of war where the bird represents the golden eagle. Some people say that the eagle is devouring a snake that is perched on a prickly cactus, while others have a different opinion of the coat of arms. The National Anthem was adopted in 1943 and the lyricsRead MoreChildrens Literature13219 Words   |  53 Pages1. Introduction 3 2. Early History 6 The Greek and Roman Eras: 50 B.C.-A.D. 500 6 The Middle Ages: 500-1500 6 The Renaissance: 1500-1650 7 The Rise of Puritanism and John Locke: Late 1600s 8 3. Beginning of Children’s Literature: Late 1700s 10 4. Fairy and Folk Tales 12 The Golden Age of Children’s Literature: Late 1800s 12 5. Victorian Childrens Literature 16 6. Contemporary Childrens Literature 18 6. Analysis of Harry Potters’ series 21 7. Conclusion 30 8. Summary 31 Children’s Literature Definitions

Impact of Competition on the Organization Free-Samples for Students

Question: How does Competition Impact on the Organisation and its ability to Serve its Markets? Answer: Introduction Coles supermarket is a large retail supermarket owned and operated by Wesfarmers an Australian conglomerate and the biggest company in Australia. It was founded by George Coles in Melbourne Australia in the year 1914 and by the year 2015 was the largest retail market in the country operating 776 supermarket stores. It has more than 100,000 employees making it among the biggest employers in Australia. Its main competitor and rival is Woolworths and together command more than eighty percent of the market in Australia (Aaker, 2013).Coles Supermarkets Australia Pty Ltd was initially owned by Coles Group Ltd, however in 2006, the retail supermarket was bought by Wesfarmers Ltd in a takeover. Organizational Competencies, Definition and levels Definition of Competencies - Competencies are the skills that make one person more effective than another in performing a task or position (Cunningham, 2002). These develop on several levels. Knowing them allows focusing the training efforts to have a Human Team that exhibits in their behavior the key competencies of success to overcome or achieve the expected results. Organizational Competencies are classified into three levels: Level 1: Organizational Competencies: They refer to those capabilities that each member of the entity must exhibit. Usually they are related to the Core Competence, that is to say that central competence from which it derives or supports a competitive position.When it is mentioned that it must be visible in the performance of each collaborator and manager, it is said that it does not exclude anyone: Managers, Leaders, and Collaborators. Level 2: Technical Competencies: Related to the competencies of each area or process, which distinguish them. They are in timately linked with key capabilities of success. Therefore, they are specific to each one. Some competencies may be repeated from area to area or process in process, but when the others are defined, they definitely give the differentiating character (Czinkota, Ronkainen, Ortiz-Buonafina, 2004). Example: Marketing area: creativity, innovation, communication skills (active listening, knowing how to ask, commercial and advertising writing), commercial skills (presentation presentations), service attitude (which may well be organizational competence), relationships or assertive interpersonal relationships Financial Area: Numerical skills, analysis skills, analytical thinking (managers), decision making Level 3: Specific Skills: Are those capabilities required for performance in a position or job is higher than the average or equal to expected according to the seniority of the official in the same (Doyle, 2013). Example: specific critical competencies of success to carry out a position of Salesperson: communication skills, commercial skills (presentations, handling of objections, closures), service attitude (which can also be organizational competence) impact of competition on markets The purpose of this section is to organize and systematize the information necessary to complete the knowledge and description of the business, both the entire sector in which the activity is to be developed (external information) and the individual project or company (internal information) .This information will analyze opportunities and threats of the environment, strengths and weaknesses of the company, project the evolution of the market and the environment and establish the objectives and strategies of the marketing mix. External or market information It is not the only way to differentiate yourself. There are those who are betting on innovation in their products and services, or who, for example, are looking for new distribution channels. Also, they offer the lowest price guarantee (Tracy, n.d.). Another way to differentiate itself is by using a product or service for a specific market segment, for example premium products / services.A service strategy may have to do at some p oint with any of these strategies, you can even coexist with them, and however it is something different.Potentialcustomer markets A loyal customer, every time you have a need that your organization can supply, will think of you, which produces recurring and cross-selling.A loyal customer, you will get excellent feedback about your organization in your circles of influence. This is free advertising. These circles, until recently, were his relatives, friends and direct contacts. Today they have expanded enormously thanks to social networks, giving an impressive power of influence to the opinion of a single client. According to (Sweeney, MacLellan, Dorey, 2007)A loyal customer wants to continue doing business with you, so it will help you to always improve, collaborating when you do a survey, or alerting you to the aspects of your service that you need to improve. A loyal customer is the ideal candidate to offer you new products and services that you bring to the market, or products / services of greater value. It will help you evaluate them, and you will receive them with confidence, because they know from whom they come.A loyal customer is willing to pay more for your service than for your competition, because for him, the value of your close relationship with him has value. The relationship with the client raises the exit barriers. A service strategy is a self-sustaining strategy. If each loyal customer recommends you to other potential customers, they also become loyal customers, and the cycle is fed back, you will attract more and more customers, just focusing on satisfying them. Your advertising efforts will be much more effective, because attracting a single customer, you are gaining many more. As a result of this phenomenon, you can in the medium term, reduce your advertising spending, without fear that your sales will decrease. Given the different environmental aspects that influence business activity, managers have to study the different trends in detail in order to make decisions on a solid basis that will lead them to success.In this sense, one of the tools of evaluation of the technological, political, social and economic factors in the so-called PEST analysis, a tool with which to examine the environment and identify the possible opportunities and threats (Egan, 2011). Impacts of external factors. The two variables that affect marketing strategy of Coles Supermarket are Technological factor and socio-cultural factors.The process must be implemented in several phases, which in the case of the technological factors of a company will be carried out as follows: Technological factors What are the key technological factors? The first step is to draw up a list with those technical aspects of the sector's interest, carrying out a forecasting study over several years, so that you can be prepared when the time comes (Ryan, 2017). These parameters include: Level of technological development. Degree of implantation of information technologies. Degree of technological obsolescence. Percentage of GDP devoted to R D I. Impact of the internet and emerging technologies on marketing strategy. The bargaining power with customers. For example, thanks to the internet and online commerce, companies have been able to eliminate intermediaries in many cases, which means a reduction of costs (Ryan, 2017). This is also what Coles Supermarket has done to incorporate technology with marketing strategy. The bargaining power with suppliers. Having an order management software in all delegations, for example, will help us to carry out unified raw material orders with which we can obtain better prices thanks to economies of scale. This is an advantage to the overall strategy of marketing the products of the supermarket Rivalry between competitors. The incorporation of a new technical process that improves the quality of the product and lowers its price will serve the brand to excel in the market. Potential competitors. Before the outbreak of the internet, for example, small companies had a very localized scope of action, but nowadays they are integrated into the global market, so multinationals and big companies such as Coles must take them into account (Doyle, 2013). Substitute products or services. Managers will also have to be alert to new technological factors of a company that allow to offer the same service but with a different technology. What elements are priority? Once we have compiled the different points, the organization must decide the priority it assigns to each one of them. Other influential variables within this dimension may be market size, level of development, wage levels, telecommunications, infrastructures, availability of physical and financial factors, price of money, and the Inflation index. Dimension socio cultural It includes dominant cultural patterns, educational level, demographic variables such as: population growth rate, age distribution, mobility; Educational variables such as level of general and specific training; The systems of values and beliefs, norms of conduct, etc. Which influence the demand of certain sectors (Milligan, 2012). The components of a society share a set of values and beliefs, some of them are irrelevant to a company, others affect its way of acting.For example, a society that encourages competitive and outreach, or that turns successful men into business people to whom it seeks to imitate, will encourage the emergence of companies and the right people to run them.Ecological values are another aspect of growing importance, reflecting the level of development and education of today's society. Therefore in its marketing strategy Coles should show that it supports social values such as environment and educational values to sell more.Politico-legal factors establish the rules of the game in which companies operate. In every economic system, public institutions fulfill a series of functions, to exercise them, they emit norms and regulations. The quantity and intensity of these fluctuates enormously among different sectors and organizations. Recommendations. After having developed the appropriate strategies for marketing, the company must successfully face the changes that must be made in prices, both increases and cuts, in both cases should be able to anticipate the reactions of both consumers and competition. Price cutbacks: this measure can be taken for a variety of reasons, starting with an excess of stored capacity, in order to sell the stock as fast as possible, also, if the company lost market share or if it wants to dominate the Market by applying the lowest price measure (Fjermestad, 2016). The company should leverage on technology to ensure that its prices give it a competitive edge. This can be done by using technology to reach directly to the suppliers, therefore, removing the middle men which is an effective way to cutback prices giving it more edge than its competitors. This is also a very effective marketing strategy. In terms of social cultural factors, Coles Supermarket should make more use of the fact that they do have initiatives and programs that support good causes. The public always supports companies that give back to the community therefore this should work very well. Conclusion The marketing strategy of Coles supermarket is yielding positive results. Through the marketing strategy, the company has managed to be more visible and has kept prices stable. As we all know Products that are above the line will find themselves in a disadvantageous position of value (Egan, 2011). That is, the entrepreneur would be offering less value than the competitors and therefore would very likely not be commercially successful while being below that line would be likely to succeed. Therefore the company has managed to have a competitive edge over its competitors. References Aaker, D. (2013).Marketing research. Hoboken, NJ: John Wiley Sons. Cunningham, M. (2002).Customer relationship management. Oxford, England: Capstone Pub. Czinkota, M., Ronkainen, I., Ortiz-Buonafina, M. (2004).The export marketing imperative. Australia: Thomson. Doyle, P. (2013).Value-based marketing. Hoboken, N.J.: Wiley. Egan, J. (2011).Relationship marketing. Harlow, England: Financial Times Prentice Hall. Fjermestad, J. (2016).Electronic customer relationship management. [Place of publication not identified]: Routledge. Milligan, S. (2012).Marketing strategies. Delhi: Research World. Peelen, E. (2013).Customer relationship management. [S.l.: s.n.]. Ryan, D. (2017).Understanding digital marketing. Philadelphia, PA: Kogan Page Ltd. Sweeney, S., MacLellan, A., Dorey, E. (2007).3G Marketing on the Internet. Gulf Breeze: Maximum Press. Tracy, B.Marketing.

The Erie Canal Essays - National Geographic Society,

The Erie Canal In the days before Alexander G Bells invention news and other topics of interest traveled across America quite slowly, usually becoming distorted as a result of the number of times it changed hands before the invention reached its final destination. An example of this that best exemplifies the proceeding statement is the California Gold Rush. When this news finally reached the central and eastern Americas California was made out to be a promise land with gold for the taking. As result towns popped up literally over night peppering the western United States. Although the California Gold Rush is an extreme example people of the pre phone era were also quite creative with their means of communication; the opening of the Erie Canal best shows this. The canal was opened on October 25, 1825. The Erie Canal was a big deal for everyone within its vicinity since the Hudson and Lake Erie were now linked. This was important because instead of traveling overland, which was expensive and time, co nsuming. People goods and information could now be floated to their destination via the Erie Canal. Usually a typical message would take weeks or months to move across the state but not this day. When the canal was opened a cannon was fired in Buffalo when a man stationed further east herd the first man's blast he fired his own and so on and so forth until the rumble had traveled down the Hudson and into New York City. When the clock stopped in New York the news had traveled a total of 500 miles in a mere two hours. In 1847 a child was born into the Bell family; this child was named Alexander Gram Bell. Alexander's mother Eliza was def. In fact, the only way he could talk to her was to speak in slow deep tones very close to her forehead. Alexander was intrigued how his def mother could understand these vibrations. This fascination was the beginning of a lifelong strife that led to numerous contributions to the social and scientific communities. Bell's career as an inventor and armature scientist began when he was only 14 years old. He designed a device that was able to separate the husks from wheat by combining a nailbrush and paddle to form a brushing wheel. Bell as one might think was no ordinary child. By the age of 16 he was a music instructor at an all male boarding school. Alexander also enjoyed to read and found himself drawn toward the German physicist Herman Von Helmlsltz who, in one of his writings discussed how vowel sound could be produced using tuning forks and resonators. The only problem with Von Helmlsltz's work was that it was in German and since Bell could not read German he made what he called a very valuable blunder. Alexander interpreted von Helmlotz's work as claiming vowel sounds could be carried over a wire. This blunder in turn began Bell's experiments with electricity. Alexander's original dream was to produce a telegraph that was capable of sending multiple messages at one time. This invention when complete was to be called the harmonic telegraph. While working on this telegraph Alexander Bell acquired the assistance of a gentleman named Thomas Watson who was known for devising tools that helped in improving numerous inventions. Later while discussing ways to improve Bell's harmonic telegraph the two discussed the dream of sending human voices over the telegraph wires.