The Bilateral Relations Between Malaysia And China

Malaysia is recognized as one of the Southeast Asia countries that have undergone economic prosperity. Therefore in this essay, I will argue on two major factors that have promoted the economic development in Malaysia which are the bilateral trade relations with China and the regional stability in Southeast Asia. In the first section of this essay, I will provide a brief overview of Malaysia’s economic development trajectory in the early post-independence period. Next, in the first part of the second section, I will highlight on the bilateral trade relations between Malaysia and China as the main factor for Malaysia’s economic expansion. Following the second part, I will emphasize on the importance of regional stability in Southeast Asia in facilitating Malaysia’s economic growth. Lastly, in the third section, I will provide the conclusion of this essay. Compared to other Southeast Asia countries, Malaysia had begun its self-government at a good pace with the economic sector as its focus. In the first decade of post-independence period, the government had implemented the Import Substitution Industrialization (ISI) strategy to stimulate the economic growth and socio-economic modernization. It encouraged states to become less dependent on developed state while urging them to focus on domestic production to substitute the previously imported manufacturing goods (Dadzie 2013: 138). The implementation of this strategy had strengthened the country’s industry and triggered theShow MoreRelatedAn Explanation Of The Bushs Foreign Trade Policy1399 Words   |  6 Pagesthe policy of unilateral, bilateral, regional and multilateral parallelism in conducting foreign trade. 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Computer Software Engineering The Future - 1253 Words

Computer Software Engineering: The future? Computers are a tool that we as human beings are learning to use and are accustomed to. Humans are relying on them more and more everyday to get them to their destination or to make an important phone call to mom. Computer software engineers are the people that make the computers and mobile devices able to be used. Without software a computer or mobile device is just a piece of metal or plastic like a paperweight. Windows and Mac OS were designed by these people. Computer software engineers are becoming more needed throughout the computer driven United States and other countries. These engineers have a job that is rather difficult to do. According to TryEngineering,† Computer software engineers†¦show more content†¦So as our world is becoming more reliable on computers and technology. More and more people are going to be able to work on and design computers and program it. The world has become so reliable on technology such as computers and mobile devices that the governments are spying on citizens using computer hacking software. Most people have some type of communication device such as an iPhone on them at least 14 hours a day. On average a person spends eight hours on their device. Now a lot of jobs are becoming outdated. Yet some are rising up and need people to fill them. Job growth for a computer software engineer is 22 percent by 2022. In 2012 there was over a million jobs in this field. It expected to grow immensely and at much faster rate than average. The reason for this growth is a large increase in the demand for computer software. (Summary ) Many businesses are turning to technology to further their success. Not only local and small businesses are looking for software engineers. Huge corporate industries such as Apple, Dell, and Google are looking to hire these people. They are going to constantly look for new bodies to fill positions. 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Case For Sustainability Managing Business -Myassignmenthelp.Com

Question: Discuss About The Case For Sustainability Managing Business? Answer: Introduction The report will provide a detailed description related to the key components of a Marketing plan for an organization's product and service. The company that has been selected for the analysis is Nestle Australia. The company is known as one of the worlds leading Nutrition, Health and Wellness Company with the head office in Switzerland. Along with this, the company has operation and its offices, research, and development centers across the world. The report includes the full analysis of the marketing environment, target market and the marketing strategy of the company. Overview of company Nestle is the worlds largest food and beverage firm and has more than 2000 varieties. The company operates the business activities in more than 191 countries globally. The company came into the existence in the year 1886 and since then the purpose of the company is to improve the quality of life and contributing to a healthier upcoming years (Nestle, 2017). The aim of the company is to inspire the people of Australia to live healthier lives and through this; the company is able to ensure that they are able to achieve the long-term success. The products that are offered by the company include Coffee, recipe bases, Medicated lozenges and sauces, noodles, cooking milk, baking ingredients and some products related for the baby and toddler nutrition. Out of these products the core product of the company is baby milk products and this is the product that has been selected for the analysis (Nestle, 2017). The baby milk products include Nesquick, Koko Krunch, Cerelac and Nido. Situational analysis Porter's five forces model is an essential framework that supports the company in analyzing the industrial parameters and these forces identify how the decisions of marketer and customers get influenced (Rothaermel, 2015). Bargaining power of suppliers Nestle is well known in the market for its strong relationships with the suppliers across the world due to its vast buying power as the company believes that the quality of products is important. The company also provide the necessary guidelines to the suppliers to reduce the expenses due to which the suppliers deliver the quality products. Bargaining power of customers The bargaining power of the consumers is high as an enormous number of competitors of the company influence the preference of customers in the Australia market. Nestle is able to deliver the quality goods to the end users that help the company in grabbing the attention of potential customers (Njambi, Lewa Katuse, 2015). Threats of new entrants There are many companies who entered the market but Nestle is having good reputation and brand image in the market due to which the company has fewer threats of new entrants. It is challenging for the new entrants to work on the quality and to offer the quality products to its consumers in the presence of Nestle. Threat of substitute goods There is a high threat of substitute goods as the products provided by the company are daily use products which are provided by many other companies as well. Considering, the threat the company has to bring the innovation in the products so that the company will be able to grab the attention of customers. Competitive rivalry The company has a strong position in the food processing manufacturing but has to face the competition from the rivals who deals in baby food products. The rivals are Heinz Dominate, Mead Johnson, Abbott, and Groupe Danone (Njambi, Lewa Katuse, 2015). The people of Australia are taking the benefit of this competition as they can enjoy the products at fewer prices or with discounts. PESTLE analysis PESTLE analysis is a framework that helps the company to determine the external factors that can influence the decisions taken by the companies (Clarke, Friese Washburn, 2015). Political factors- The rules and regulations formed by the government can create an impact on the working of the company. These rules and regulations include taxation, import-exports, government permission. Nestle always follow regulations in Australia so that the company can smoothly operate its business activities in the country. Economic factors- The economy of country is developed with the largest diverse market economies of the world. The worth of exports and imports collectively is equal 41% of GDP with the regular implemented tariff rate is 1.9%. This shows that the company can easily perform the operations related to exports and imports (Economic Freedom, 2017). Socio-cultural factors- The culture lifestyle and the preference of the customers creates an impact on the company. In Australia, maximum numbers of peoples are becoming health conscious due to which the demand for the companys products might increase and they can try to introduce new products in the market (Haseeb, 2017). Technological factors- Nestle gets affected with the introduction of the advanced technology. The company is making use of the technology in numerous business operations such as maintaining the databases with the use of the software. The company should make sure that they are adopting new technologies in their business. Legal factors- Company has to implement the health and safety laws for their employees along with this the company follows the regulations in producing hygiene products to enhance the customer satisfaction. Environmental factors- Company has to take the responsibility for the clean environment and they are responsible for healthy food with environmental friendly operations (Schaltegger Wagner, 2017). Some of the laws that need to be followed include: Waste Management and Pollution Control Act 1998 (NT), Environmental Protection Act 1997 (ACT) and many others. SWOT analysis Strengths Weakness The company has strong research and development capabilities that are growing. The company is highly-diversified and offer a huge variety range in baby products. The company has strong relationships with brands like Coca-Cola, Colgate Palmolive and General Mills (PESTLE analysis, 2015). The company only make use of advertising for promoting the products in the market which is one of the traditional ways to promote product. The products offered by the company seem to be old fashioned which needs to improved considering the modern lifestyle of people. Opportunities Threats The company has the growth opportunity in the online retail. The company has the growth in the markets of China and India. The company has the opportunity to launch new products in the market as maximum numbers of customers are becoming health conscious and due to this, they are demanding for products like energy drinks (Hollensen, 2015). The company might face the threat from the giant retailers that include Heinz Dominate and Donone related to the cut in the prices of products. Changes in the preference and choices of the customers are one of the emerging threats for Nestle in Australia market. Competitors analysis The competitors of the company include Heinz Dominate and Groupe Danone is strong competitors of the company. These companies give strong competition as they offer the similar range of products like Nestle. Heinz Dominate is well known for high quality, great taste and nutrition and Groupe Danone is leading Food Company that offers healthy and nutrition baby products (Njambi, Lewa Katuse, 2015). The quality standards of the Heinz (Kraft Heinz) dont meet the high-quality standards of Nestle due to this the price kept by the company for their products is high then the Kraft. These competitive companies spend a huge amount of marketing and promotion activities so that they can attain good position in the market. Though, Nestle has to bring improvement in the promotion and marketing strategy (Nestle, 2017). Consumer market A consumer market is defined as a market where the goods and services are purchased by the end users. Every customer has diverse choices and preferences in the single market (Solomon, 2014). Thus, the buying behavior for the product is influenced by some of the factors. Factors affecting the consumer buying decisions Psychological factor affects the purchase decision of the customer. It includes motivation, perception, learning, attitudes, and beliefs. Many people in Australia might get influence due to the other customers (Rani, 2014). For instance, Cerelac; the different flavours and the quantity of nutrition of the product are liked by the different customer that might influence the other buyers. Cultural factors consist of the consumers culture, social class, and subculture. Australians are health conscious due to which they like to consume products having high quality and are suitable for healthy life (Rani, 2014). A situational factor might influence the people depending on the situation due to this end users might get influenced in certain situation. Concept of Segmentation, Targeting and positioning Segmentation is marketing concept that helps the company in classifying the consumers on the basis of Demographic, Geographic, Behavioural and psychographic. Geographic- Company has segmented its product Nesquick and Koko Krunch on the basis of weather of the regional and local places. Demographic- Nestle offers a wide range of products and these products are available for different age groups such as Cerelac; Nido; a nutritious milk, available for the age group of 2 years or above. Nesquick and Koko Krunch; chocolate milk for babies. Apart from the age group the company also targets the people from different income. The products offered by the company are available for the middle and high income grouped people in Australia (Nestle, 2017). Psychographic- The people having the faith in lifestyle and social class make use of the products provided by Nestle. Behavioural- The Australian market is segmented considering the need for the product. Nescafe coffee was in demand in Australia when Australians get to know about the benefits of the products. Targeting Targeting refers to as the group of individuals that are targeted by the company for products and services. The company makes use of the differentiated targeting strategy in which the company targets the buyers considering the need for the customers for different products. The primary target of the company is the people with the age group of 2 or above and parents of childrens in between the age of 25-35 years belongs to the middle class (Nestle, 2017). Positioning Positioning refers to as a place that is occupied by the company in the mind of the customers. The place of the company is in a quadrant of high price and high quality which is clear from the below-positioning map of the company. Branding strategy The branding strategy of the company covers the logo of the company which is an important part of the Companys corporate identity. The nest was a graphic translation of Nestls name is meant as little nest. Marketing mix Product- Nestle offers the wide range of products with the line extension product mix in the Australian market. The core product of the company is Cerelac which is a baby milk product. Cerelac comes in different flavours with innovative packaging and labeling with a system of Nestle on it. The product contains the vitamins and minerals that are essential for the babies (Patil Bach, 2017). Price- Company provides the discount and coupons for their products and they make use of the price skimming strategy. It is a strategy in which the company charges a huge initial price that is paid by the company. When the demand of the initial customers get satisfied then the company lower the prices to attract other customers (Spann, Fischer Tellis, 2014). Place- The company provides it product malls and supermarkets along with this the company has own sales and distribution across Australia. The company makes use of the Intensive distribution coverage strategy with the help of this company try to make the product available in a maximum number of outlets. Promotion- Promotion of the products is done by endorsing the product with the celebrities. Along with the advertisement, the company also make use of the social media concept in which the company promote their products with the use of the social media (Facebook, Twitter, LinkedIn, etc.) and try to attract the customers who want to consume healthy products. People- Company hires the people on the basis of skills which include effective communication. Nestle provide training to their employees so that they can effectively deal with customers. Process- Company manufactures the product with the use of new ideas and technology. In Australia, the company makes use of the vending machine which makes the process of the company easier. Physical evidence- Nestle is forming a better evidence connectivity by providing the baby milk products in the departmental stores with the logo of Nestle. Partnerships- Nestle is having strong relations with the companies like Coca-Cola, Colgate Palmolive and General Mills (Patil Bach, 2017). Conclusion A marketing plan is a comprehensive outline of the business strategies of the company. The report includes the marketing plan of the Nestle Australia. The company is leading company having to operate in many international companies. The report shows the situational analysis, consumer market, Segmentation, targeting, positioning, and marketing mix of the company. The situational analysis of the company includes the external factors that might impact the working and decision-making of the company. It is recommended to the company to grab the opportunity for maximum revenue and growth. References Clarke, A. E., Friese, C., Washburn, R. (Eds.). (2015).Situational analysis in practice: Mapping research with grounded theory(Vol. 1). Left Coast Press. Economic Freedom. (2017). Australia. Viewed on 23rd January 2018. https://www.heritage.org/index/country/australia Haseeb. (2017). Pestle Analysis of Nestle. Viewed on 23rd January 2018. https://marketingdawn.com/pestle-analysis-of-nestle/ Hollensen, S. (2015).Marketing management: A relationship approach. Pearson Education. Keegan, W. J., Green, M. C. (2015).Global marketing. Upper Saddle River, NJ: Pearson. Nestle. (2017). About Us. Viewed on 23rd January 2018. https://www.nestle.com.au/aboutus Nestle. (2017). Brands. Viewed on 23rd January 2018. https://www.nestle.com.au/brands Njambi, E., Lewa, P., Katuse, P. (2015). Porters Five Forces Influence on Competitive Advantage in the Kenyan Beverage Industry: A Case of Large Multinationals. Patil, D. D., Bach, C. (2017). Marketing-Mix For Strategy Building.Marketing,4(4). PESTLE analysis. (2015). SWOT Analysis of Nestle, the popular food brand. Viewed on 23rd January 2018. https://pestleanalysis.com/swot-analysis-nestle/ Rani, P. (2014). Factors influencing consumer behaviour.International journal of current research and academic review,2(9), 52-61. Rothaermel, F. T. (2015).Strategic management. McGraw-Hill Education. Schaltegger, S., Wagner, M. (Eds.). (2017). Managing the business case for sustainability: The integration of social, environmental and economic performance. Routledge. Solomon, M. R. (2014).Consumer behavior: Buying, having, and being(Vol. 10). Upper Saddle River, NJ: Prentice Hall. Spann, M., Fischer, M., Tellis, G. J. (2014). Skimming or penetration? Strategic dynamic pricing for new products.Marketing Science,34(2), 235-249. The Next Practice. (2017). Nestl / Product Positioning Strategy. Viewed on 23rd January 2018, https://thenextpractice.com/portfolio/nestle-bop-strategy/

The Definition of an Ideal Mate free essay sample

While we may sometimes differ in what our own definitions of what an ideal mate would be like, there are perhaps, some features which we would all appreciate such a mate to have. At the end of the day we may discover that our ideal mate is not a perfect person, but that they do possess qualities which make them perfect for us. An ideal mate is definitely one who not only loves us, but who cherishes us too. When you cherish someone you appreciate them to the hilt and deeply care for every atom that makes them into a solid being, along with every part of their spirit which never falls to move you.When your mate cherishes you they notice everything about you and are sensitive to your needs. They recognize and make compliments about your achievements and strive to keep you happy in every way possible. An ideal mate may not always be as tall, handsome, and fair of face or as wealthy as you may have at first wished them to be. We will write a custom essay sample on The Definition of an Ideal Mate or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page However, they will be beautiful to your eyes despite having a crooked smile or a stutter. What you once believed might be viewed as Imperfections will become endearing when you find a mate who is beautiful on the inside. It is true to say that many different sorts of people make up the worlds population.We have differing viewpoints, opinions, beliefs, levels of understanding and dreams for the future. Our Ideal mate though, will think along similar lines to us and so will form a bond of reasoning that can only develop from sharing important life values. We may too, share a vision of how we want our lives to progress alongside each other. Wanting the same things will unite us and propel us toward our goals. Even when our visions are not exactly the same. Our ideal mate will be open to listening to what our needs and desires are and are willing to compromise where necessary. Most importantly, our soul mate, or ideal mate, will make us more than we would be with the wrong person. Instead of detracting from our value they are likely to expand our beings so that the sum of our parts Is far richer In quantity and quality than It would ever be without them. When we are with them we may discover that being with someone who is so totally supportive of us allows us to be funnier, brighter, more loving and caring than we are when alone. And whats more is that they will see these qualities In us whom they reflect back to us, and this In turn will make us more confident and happy people.

Attributes of Criminal Justice

Attributes of Criminal Justice Ku Klux Klan PAGE 1Attributes of Criminal OrganizationsIntroductionThe Ku Klux Klan is and always has been a whites-only organization that is philosophically dedicated to the separation of groups based upon their racial origin. The organization was however, not enough to be simply white to me; a member of the Ku Klux Klan, the organization unilaterally rejects any members of communist or socialist organizations. White people of Jewish origin are steadfastly rejected based upon the belief that Jews are responsible for the death of Jesus Christ and Roman Catholics were also excluded from membership prior to 1952.HistoryThe name Ku Klux Klan evolved from the Greek word kuklos, which means circle. The circle is one of the oldest symbols of history in the history of humankind. The Ku Klux Klan also purports the circle as a sign of special creativity. The Ku Klux Klan calls itself "the oldest American civil rights organization."English: William Joseph Simmons, founder of the se...The grou p was founded in 1866, only one year after the end of the Civil War, by former Confederate general Nathan Bedford Forrest in Pulaski, Tennessee. The Ku Klux Klan began as nothing more than small groups of southern post civil war malcontents, who were on a mission to cause as much mischief as possible since losing the civil war. Initially not many took them seriously and the group was basically ignored. The first era of the Ku Klux Klan was short lived, only lasting until 1871 when then President Grant effectively eliminated the organization.One of the most feared groups, the Ku Klux Klan, has seen and survived generations and generations of negativity. The Klan's history, structure, operation, activities, and participants will be presented throughout the paper as well as what can be done by law enforcement in order to control the Klan.

No Other Essays - Stonehenge, Henges, Free Essays, Term Papers

No Other Essays - Stonehenge, Henges, Free Essays, Term Papers No Other Despite the many purposes it seems to serve, Stonehenge is still the embodiment of mystery for most of the world. Some believe that its purpose was to be used as an astronomical observatory. Others think that it was used as a religious meeting center for the Druids. However, no one has been able to prove its true meaning and existence. Stonehenge is believed to have been built in three main periods. The first took place between 3100 and 2700 B. C. This part of the construction consisted of building a huge ditch around the area in which Stonehenge was to be built (Castleden 1). This ditch was 320 ft. in diameter with a broken area in which the entrance is located. Just inside the ditch 56 holes were dug equal distance from each other. These holes were then filled with chalk rubble, but some of the holes were filled with the bones of cremated human beings. These holes were called the Aubrey holes after their discoverer John Aubrey. To the northeast of the ditch a 16ft. tall heel stone was erected (Brown 751). The second phase of the building is non-existent to this day (Warwick and Trump I t can however be inferred by to holes known as the Q and R holes. The two holes form a double circle around the monument. It was originally filled with 38 blue stones. Also during this building phase two ditches were dug parallel to each other. The two ditches go outward from the entrance. This part of the building process is believed to be unfinished. This thought is due to the fact that some holes are missing in the double circles (Brown 751). The third phase in building is the most spectacular of all the phases. This is because of the 100ft. Circle that is filled with 30 sarsen stone columns which weighs 25 tons separately. A continuous circle of lintel stones held in place by mortise and tenon joints tops them off. Inside the circle is the holes known as the X and Y holes. Also inside are a small horseshoe shape of bluestones. The largest bluestone is called the altar stone. This altar stones original location and meaning is unknown. It now lies under two fallen trilithon stone. The builders of this age of Stonehenge are the Wessex culture of the early Bronze Age (Brown 752). Those who constructed Stonehenge may never be known. There are many myths and legends as to who really built the huge monument. On such myth is that the great magician Merlin built Stonehenge. This was claimed in the book History of the Kings of Britains written by Geoffrey of Monmouth. According to Geoffrey the huge stones were taken from Ireland and moved to England where they were marked as a burial ground for slain British princes. This monument was set up by King Ambrosius. He sent for Merlin to give him a monument. Merlin suggested the Dance of the Giants in Ireland. However the Irish were not going to give up their monument without a fight. They had set up an army to defend the giant monument from King Ambrosiuss army of soldiers sent to fetch the monument. The British defeated the Irish but could not budge the giant stones in any way, shape, or form. Merlin, however, could. He came to their rescue and moved the stones with the greatest of ease. This story was a good explanati on to all medieval believers. Outline I. Construction A. Phases 1. Period I 2. Period II 3. Period III B. Builders 1. Celts and Druids 2. Merlin and King Ambrossius II. Purpose A. Solstice Calendar B. Druids Meetings C. Astronomical Events III. Feeling toward Stonehenge A. Peoples Feelings Then B. Peoples Feelings now

Rental and Tenant Laws in the US Research Paper

Rental and Tenant Laws in the US - Research Paper Example The Landlord tenant law is directed to oversee the rentals of residential and commercial properties. According to the Legal Information Institute, a number of states in the US have based their statutory laws under the prescribed Uniform Residential Landlord and Tenant Act and it becomes an important factor during calamities and emergency situations and to prevent discriminations. Under the Federal Statutory Law, no one can be denied of its rights to rent an apartment on the basis of race, color, religion, national origin, sex and age. One cannot be discriminated upon on the basis of familial status, that includes not allowing children, and pregnant women. This also includes physical disability, mental disability. Similar housing laws in states also prohibit discrimination against marital status and sexual orientation. This uniform law is being prescribed to all 50 states of the US. A particular state that upheld the landlord and tenant law is the California government that prohibits unlawful discrimination against any person on the basis of above cited factors. Under the California’s Fair Employment and Housing Act And Unruh Civil Rights, landlords cannot refuse to sell, rent or lease, or refuse to negotiate for a sale, rental or lease to persons on the basis of factors cited by law. Thus, a landlord cannot refuse a person simply because he is colored, or he belongs to an ethnic group. Landlords cannot just deny to these people housing accommodations, or to provide them inferior accommodations, services, facilities and services. Inferior accommodations may be considered as those housing that are with unsafe condition like falling roof or infested by mice or cockroaches. The law also advocates that rental spaces or housing be advertised in newspapers published by ethnic groups to avoid discr imination (CA.Gov.California Dept of Consumer Affairs 2010). Time limit A time limit of one year is set within which one may file complaint from the time the discriminatory act is committed. Complainant should state their formal charges, state how it happened and the names of those involved in the case. Exceptions to the rule However there is an exception to every rule, that the statutory rules does not apply to owner- occupied buildings that has only four or fewer rental units like duplex, or to the housing designated to senior citizens , and those offered by religious groups to their members only. No pet policy In California, a tenant cannot be refused if he owns a pet; most especially if it is a dog that serves as an eye seeing dog or helps him navigate in his disability situation. For instance, a landlord cannot refuse a disabled tenant simply because he owns a dog that helps him. If the landlord does so, he is violating the federal law as well as the American Disabilities Act. Citing a case of violation, the jury from Minneapolis, Minnesota concluded that the no pet policy of the landlord is a form of discrimination when he enforced this policy to a

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Police & Society CH 13,14,15 - Essay Example The contemporary issues that affect police officers are negative media image as well as national proceedings. Given the confirmation regarding the existence of stressors affecting police officers, there has been a limited amount of study that concentrates on these stressors. Alcohol abuse has long been associated with the jobs of policemen. It is common notion that drinking alcohol is a usual occurrence during parties, occasions and even regular gatherings of police officers. With the use of drugs (which could further lead to drug abuse), researchers have not found any concrete data supporting the notion that drug abuse is also common among policemen although there are incidents which lead researchers to believe that this can be considered as an increasing problem. Suicide among police officers shows to be a result of consistently being under stressful conditions. This is alarming since this information is backed up with statistical data which stated in the book that policemen â€Å"were eight times more likely to commit suicide than to be killed in a homicide and three times more likely to commit suicide than to die in job-related accidents.† (Roberg, 2004) Problems at home as well as with their married lives also affect the police officers and increase their stress. This chapter also mentioned the three perspectives when it comes to police officer’s safety. It is also strongly advised in the book that people should be properly educated how to interact and communicate with policemen. There were scenarios given as well as instructions as to how citizens should act properly with the given situation. Does educational attainment of police officers affect their job performance? This is the question that is being tackled in Chapter 14. There are studies conducted to verify if it is necessary for police officers to be

Project management Essay Example | Topics and Well Written Essays - 3750 words

Project management - Essay Example Keeping in view the importance of the advertisement, the Electronic Arts Incorporation (our client) decided to advertise their products over the internet, sale of the products (eCommerce) and along with development of videos (EA Inc., 2014). The Electronic Arts Inc. selected the Rubicon (Project Vendor and I am the Project Manager) to initiate the development of eCommerce enabled website along with the online videos for the advertisement. The vendor Rubicon is one of the leading companies for selling and buying of the advertising globally (Rubicon, 2014). In the initial sections of the document examines the scope, objectives, goals and the critical success factors of the project. The document proceeds with explaining the project management methods include: the Gantt Chart, critical path, network diagram and financial plan (cost estimates) of the project. Moreover, the document includes the organizational chart showing the internal and external organization as well as a responsibility assignment matrix. The document further contains an evaluation of the risks involved in the project and how they (risks) avoided by the vendor. The last part of the document contains suggestions for alternative project management methods and guidelines for the project to bring back it to the track, if there is slippage in the schedule of the project. The Rubicon (Project Vendor) utilizes eight (8) human resources to complete the project within specified time, including the project manager (me), database administrator, eCommerce specialist, website developer, website designer, content developer, Search Engine Optimization (SEO) expert and video editing specialist. There are four (4) basic or predefined success factors of a project, including cost, schedule (time), scope and quality. A project is said to be successful if the project has

Entrepreneurship In Contexts Of Business Management Commerce Essay

Entrepreneurship In Contexts Of Business Management Commerce Essay The business world can be seen as a complex system of individuals and business organisations that, in a free market economy such as South Africa, involves the activity of transforming scarce resources into products and services in order to meet the needs of society (Du Toit, Erasmus Strydom, 2007:4). Business organisations therefore solve the fundamental economic problem of how to ensure the highest possible satisfaction of needs with scarce resources (Cronje, Du Toit Motlatla, 2001:23). In order to understand how the business organisation satisfies the needs of society in a free market economy, it is important to understand the driving force behind the business organisation, namely the entrepreneur (Du Toit et al., 2007:37). The entrepreneur is at the heart of a free market economy and establishes business organisations and in doing so creates jobs and wealth (Cronje et al., 2001:3). Entrepreneurs and new business creation is fundamental to the growth of the South African economy and to the future socio-political stability of the country (Von Broembsen, Wood Herrington, 2005:5). Due to low economic growth, high unemployment and an unsatisfactory level of poverty in South Africa, entrepreneurship becomes a critical solution (Rwigema Venter, 2004:27). As mentioned in Chapter 1, one of the most important groups of entrepreneurs within the economy with considerable potential to contribute to economic growth, economic development and employment generation are business women (Blumberg Kenan, 2008; Ahl, 2006; Negash, 2006; Blumberg, 2005; Republic of South Africa, 2005; Baker, Aldrich Liou, 1997). Therefore, this study focuses on the strategic entrepreneurial behaviour of business women in South Africa. An improved understanding of entrepreneurial behaviour and decision-making would enable business management students to better understand how business organisations function in todays competitive environment. In this chapter the concept of business management is addressed. The chapter starts by introducing the subject of economics, followed by an overview of business management as a discipline. This section leads to a discussion of the relationship between economics and business management. Then follows a section which elaborates on entrepreneurship and strategic management as well as a section how these two fields overlap. Special attention is given to entrepreneurship and strategic management in an attempt to clarify the position of this study in a business management context. The position of the study within the field of economics and business management is illustrated in Figure 2.1. Figure 2.1: The position of the study within the field of economics and business management 2.2 ECONOMICS Economics has been defined in various ways in its more than 200 year history (Arnold, 2004:3). It is therefore useful to review a number of definitions of what economics entails. Alfred Marshall (1824-1924) broadly defined economics as the study of mankind in the ordinary business of life; it is the study of wealth and of man. Lionel Robbins (1898-1984) definition focussed on alternative outputs that can be achieved with scarce resources. He defined economics as the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses. Similarly, Milton Friedman (1912-2006) said that economics is the science of how a particular society solves its economic problems. He then argues that an economic problem exists whenever scarce means are used to satisfy alternative ends (Arnold, 2004:3). It seems from the above definitions that economics is the study of how society manages its scarce resources (Mankiw, 2004:4). More comprehensively, economic s is the study of how individuals and societies deal with the fact that wants are greater than the limited resources available to satisfy those wants (Arnold, 2004:3). The condition, under which wants are greater than the limited resources available to satisfy those wants, is called scarcity (Arnold, 2004:3). This endeavour to achieve the highest possible satisfaction of needs with scarce resources is known as the fundamental economic principle (Smit, Cronje, Brevis Vrba, 2007:20) and every economic system is subject to it (Cronje et al., 2001:23). That being so, it follows that any component of an economic system, including a business organisation, is also subject to the economic principle (Nieman Bennett, 2006:6; Cronje et al., 2001:23). In order to create wealth and satisfy wants, as implied in the definitions, resources are utilised (Nickels, McHugh McHugh, 2008:9). Resources are divided into four broad categories, called factors of production. These factors of production are: land, labour, capital, and entrepreneurship (Arnold, 2004:5). Land includes all natural resources, such as minerals, forests, water and unimproved land. Labour, on the other hand, consists of the physical and mental talents people contribute to the production process. Capital consists of produced goods that can be used as inputs for further production. Entrepreneurship, the focus of this study, refers to the particular talent that some individuals have for organising the resources of land, labour, and capital to produce goods, seek new business opportunities, and develop new ways of doing things (Arnold, 2004:5). It furthermore refers to the initiative of putting together a range of production factors in various combinations in diverse busin esses to satisfy the numerous needs of consumers (Nieman Bennett 2006:6). The field of economics is traditionally divided into two broad subfields, namely, microeconomics and macroeconomics (Mankiw, 2004:4). On the one hand, microeconomics deals with human behaviour and choices as they relate to relatively small units and studies interactions through individual markets, given scarcity and government regulation (Arnold, 2004:27). In other words, microeconomics is the study of how households and firms make decisions and how they interact in specific markets. On the other hand, macroeconomics deals with human behaviour and choices as they relate to highly aggregate markets or to the entire economy (Arnold, 2004:4). Macroeconomics is thus the study of economy-wide phenomena (Mankiw, 2004:27). The present study is related to microeconomics as it deals with individuals i.e. business women and how they make decisions to allocate scarce resources. Neoclassical economists are interested in decision-making, especially the costs and incentives associated with economic choices (Hicks, 1937). The decision-making process plays an important role in any business organisation and is of importance for problem-solving, the development of business plans, and goal-directed behaviour (Gray, 2001). In macroeconomics, a neoclassical synthesis was developed in the early 1950s, based on an integration of Keyness ideas and the ideas of earlier economists (Blanchard, 2006:576). These theories had a fundamental impact on the modern understanding of firms and their relation to the environment. In economics theories are useful for explaining and predicting economic behaviour. Theories are developed to explain observed phenomena in terms of a set of basic rules and assumptions (Pindyck Rubinfeld, 2005:5). The theory of the firm consists of a number of economic theories which describe the nature of the firm, company, or corporation, including its existence, its behaviour, and its relationship with the market (Coase, 1937), which impact business management scholars understanding of the field. The theory of the firm is based on a simple assumption namely that firms try to maximise their profits (Pindyck Rubinfeld, 2005:5). The theory of the firm furthermore provides an explanation of how a firm makes cost-minimising production decisions and how its cost varies with output (Pindyck Rubinfeld, 2005:188). In simplified terms, the theory of the firm attempts to answer questions regarding the existence of firms, the boundaries of firms, the organisation of firms and questions con cerning heterogeneity of firm actions and performances (Coase, 1937). To summarise, the field of economics focuses on how society manages its scarce resources, also called factors of production, to satisfy the needs of society. In order to understand how entrepreneurship, as one of the factors of production, influences wealth creation in the economy, one has to appreciate the role of business management which is concerned with the management aspects of the factors of production. 2.3 BUSINESS MANAGEMENT AS A DISCIPLINE The origins of traditional management can be traced back to the need for efficiency and effectiveness (Weymes, 2004:340). The endeavour to achieve the highest possible satisfaction of needs with scarce resources is known as the fundamental economic principle (Smit et al., 2007:20). Within economic and management sciences, traditional business management is subject to this principle, and the managements task is thus is to decide how an organisation can achieve the highest possible output with the least possible input (Smit et al., 2007:20; Scheepers, 2009:7). More specifically, it entails an examination of the factors, methods and principles that enable a business to function as productively as possible in order to maximise its profits (Nieman, 2005:39). In short, the individual business enterprise should focus on realising the economic principle (Scheepers, 2009:7). The study of business management depends on comprehensive and ongoing research and the examination of management problems, the testing of approaches and principles as well as experimentation with methods and techniques. Business management is thus an applied science that studies how business organisations can best be directed towards realising their objectives given their limited resources (Du Toit et al., 2007:27). Klekamp (1968:54) defines business management as achieving organisational goals through people. It is useful to consider this time-worn definition through the perspective of three fundamental schools of management. These schools are: the traditional school of management; the behavioural school of management and the quantitative school of management. It appears that the traditional school sees the achievement of organisational goals as a process. It further suggests that the process is universal i.e. the distinguishing characteristic of a manager is the mastery of her discipline and the application of her art rather that the environment in which it is practiced. The behavioural school, on the other hand, focuses on the achievement of goals, as the process does, but dwells to a large extent upon why people act as they do when under the influence of the management process and in the company of people grouped together for the accomplishment of organisational goals. Alternatively, the quantitative school proposes that the achievement of goals depends to a large extent on the quality of the decisions made in the practice of the management science (Klekamp, 1968:54). Although, business management has been defined by a number of authors, fundamental to most definitions is the idea that management is a social process of planning, coordination, control, and motivation (Pettinger, 2002; Hodgetts, 1981:114). One can infer that business management therefore involves satisfying needs with a limited amount of resources through planning, coordination, control, and motivation of these resources (Ward, 2008:19). The many definitions offered in the literature on management demonstrate the wide differences of opinion among writers and experts about the tasks and activities of management. Figure 2.2 illustrates the four fundamental tasks that are singled out as the most important activities of the management process. These are: planning, organising, leading and control (Du Toit et al., 2007:129). Figure 2.2: The four fundamental management tasks represented as a process SOURCE: Adapted from Du Toit et al., 2007:130 The following brief description of the fundamental management tasks clarifies the concept of management and the management process. The first fundamental task of management, namely planning, determines the mission and goals of the organisation, including the way goals are to be reached in the long-term, and the resources needed for this task (Du Toit et al., 2007:130). Strategic management is an integral part of planning and is the process of developing a vision, mission and long-term objectives for the organisation as a whole. According to Nieman and Bennett (2002:14), organisations succeed if their strategies are appropriate for the circumstances they face, and feasible in respect of their resources, skills and capabilities. Strategic management is discussed in more depth in Section 2.6. The second fundamental task in the management process is organising. This task refers to the development of a framework or organisational structure to indicate how people, equipment and materials should be employed to reach the predetermined goals (Du Toit et al., 2007:130). Leading, the third fundamental task, entails directing the human resources of the business and motivating them (Du Toit et al., 2007:130) in order to get them to perform in such a way that the organisational objectives can be achieved (Nieman Bennett, 2006:99). The final fundamental task, namely control, implies that managers should constantly establish whether the business is on a proper course towards the accomplishment of its goals (Du Toit et al., 2007:131) as well as structuring the activities of the organisation to facilitate the attainment of its objectives (Nieman Bennett, 2006:93). The fundamental task of business management is, however, not only to plan, organise, lead, and to control but to study those factors, principles and methods that will lead a business organisation, as a component of the prevailing economic system, to reach its objectives against the background of limited resources (Du Toit et al., 2007:28) within the microeconomic field of study. In the following section the relationship between economics and business management is discussed. Particular attention is paid to the discussion of a business organisation as a component of the economic system, specifically how, as a need-satisfying institution in the free market economy, it provides for the needs of the community (Cronje et al., 2001:32). 2.4 RELATIONSHIP BETWEEN ECONOMICS AND BUSINESS MANAGEMENT On the one hand, economics, as a social science, studies how humans and society exercise choices concerning different ways of utilising their scarce resources in order to satisfy unlimited needs. On the other hand, business management as an applied science is concerned with the study of those institutions in a particular economic system which satisfy the needs of a community. Economics examines the entire economic system, while business management limits its studies to one component of the economic system, namely the individual organisation (Cronje et al., 2001:23). Business management is thus closely linked with microeconomics and the theory of the firm as the purpose of business management is to hold an organisation to the economic principle (Cronje et al., 2001:23). Business management, as a field of study, is concerned with the management aspects of the inputs, the conversion process, and the outputs (Nieman Bennett, 2006:6). More specifically, it entails an examination of the factors, methods and principles that enable a business to function as productively as possible in order to maximise profits (Nieman Bennett, 2002:4). In order to recognise how the business organisation satisfies the needs of society in a free market economy, such as South Africa, one has to understand one of the driving forces behind the business organisation, namely the entrepreneur (Du Toit et al., 2007:37). 2.5 ENTREPRENEURSHIP Economic development can be directly attributed to the level of entrepreneurial activity in a country (Bird, 1989; Schumpeter, 1934) as entrepreneurial businesses are responsible for growth and job creation in the economy (Nieman, Hough Nieuwenhuizen, 2003:3). Entrepreneurship is the process that causes change in the economic system through innovations of individuals who respond to opportunities in the market. Entrepreneurs are challenging existing assumptions as well as conventional rules of business and are creating value in novel and creative ways for themselves and society (Morris, Kuratko Covin, 2008:3). It is therefore important to study entrepreneurship in an increasingly globalised world where survival often depends on people who are driven by opportunity and who seek to achieve their goals in a sustainable way (Rwigema Venter, 2004:9). Although the term entrepreneurship has been in use for over 200 years, considerable disagreement remains over its meaning. Although the disagreement seems greatest if definitions of entrepreneurship between disciplines are compared, a consensus is found if definitions produced by specialists in the same field, are compared (Nieman et al., 2003:9). Economists, for example, tend to agree that entrepreneurs are associated with innovation and are seen as the driving forces of development (Filion, 1998). The behaviourists, on the other hand, try to understand the entrepreneur as a person and ascribe to the characteristics of mainly the flexible interpretative models. The behavioural approach places emphasis on explaining how decisions are taken within the firm. However, any theory of entrepreneurship must be flexible and multidimensional to reflect its multidisciplinary roots (Nieman et al., 2003:9; Filion, 1998). While multiple definitions of entrepreneurship could be found in the literature (Sharma Chrisman, 1999; Venkataraman, 1997; Schumpeter, 1983; Kirzner, 1973), no single definition has been accepted by the whole entrepreneurship field (Scheepers, 2007:25). For the purposes of the present study entrepreneurship can be defined as the process of creating value by bringing together a unique combination of resources to exploit an opportunity (Barringer Ireland, 2006:5; Stevenson, Roberts Grousback, 1989). Since this definition implies that: (1) entrepreneurship may vary in terms of the extent and number of times it occurs; (2) entrepreneurship occurs in various contexts for example start-ups and corporate firms; (3) it is a process that can be managed; and (4) it creates value and it is opportunity-driven (Scheepers, 2009). Firstly, regarding the implication that entrepreneurship may vary in terms of the extent and number of times it occurs, it is useful to examine the concept of entrepreneurial intensity (EI). The term of EI was pioneered by Morris and Sexton (1996), who view EI as a function of the degree and frequency of entrepreneurship (Morris, 1998:42). Frequency of entrepreneurship refers to the number of times an enterprise acts entrepreneurially. In other words, the number of entrepreneurial events that takes place within a company over a given period of time (Morris et al., 2008:69; Morris, 1998:42). The degree of entrepreneurship could be assessed against the background of three dimensions: innovativeness, risk-taking, and proactiveness (Erasmus Scheepers, 2008; Morris, 1998:37). Innovativeness, the first dimension of the degree of entrepreneurship, refers to the ability to generate ideas that will culminate in the production of new products, services and technologies. Risk-taking, the second dimension, involves the determination and courage to make resources available for projects that have uncertain outcomes. Attempts are made to manage these risks by researching a market, recruiting and employing skilled staff among other strategies. Proactiveness, the third dimension, indicates top managements stance towards opportunities, encouragement of initiative, competitive aggressiveness and confidence in pursuing enhanced competitiveness (Morris, 1998:18, 41-43). The concept of EI is illustrated in Figure 2.3. The two-dimensional matrix, referred to as the entrepreneurial grid, shows the frequency of entrepreneurial events on the vertical axis, and the degree to which these events are innovative, risk-taking and proactive on the horizontal axis (Morris et al., 2008:69). EI must become a key activity ratio that is monitored on an ongoing basis within organisations. Assessment at the level of the organisation can be used for various purposes: to benchmark and track levels of entrepreneurship; establish norms and draw industry comparisons; establish entrepreneurship goals; develop strategies; and assess relationships between EI and organisation performance variables over time (Morris et al., 2008:78). Figure 2.3: The entrepreneurial grid SOURCE: Morris et al., 2008:70 Secondly, as implied in the definition of Stevenson et al. (1989) entrepreneurship in reality can occur in various organisational contexts (Morris et al., 2008:11). These organisational contexts may range from establishing a new enterprise, growing an existing small business, or innovation within large organisations (Scheepers, 2009:27). In other words, entrepreneurship can also be used to describe entrepreneurial actions within a firm. In this instance, an entrepreneurial firm creates wealth by concentrating on being innovative, proactive, and risk-taking (Ireland, Hitt, Camp Sexton, 2001:51). Corporate entrepreneurship is a term used to describe entrepreneurial behaviour inside existing organisations (Morris et al., 2008:11). Within these different contexts the definition above still applies, since the process and required inputs are similar, even if the outputs differ (Scheepers, 2009), therefore the female entrepreneurial behaviour examined in this study is still regarded as ent repreneurship, even though it may occur in two contexts, namely within a corporate context or in an independent venture. Thirdly, as stipulated in the definition, entrepreneurship can be viewed as a process. Therefore even though entrepreneurship and innovation are inherently unpredictable, chaotic and create ambiguity; entrepreneurship is a process, and as such it can be managed. Entrepreneurial events are characterised by different stages, such as opportunity identification, business concept definition, assessment of the resource requirements, acquisition of the needed resources, and then the management and harvesting of the business (Morris Kuratko, 2002). Finally, the ability to act entrepreneurially is linked to the perception of opportunity. The pursuit of opportunities also emphasises that those opportunities, which create the greatest value, could be exploited. It is important to note that entrepreneurship differs from management. There are important differences between the entrepreneurial and managerial functions, as well as the expertise and competence with regard to each (Nieman et al., 2003:13). Management is a social process of planning, coordination, control, and motivation (Ward, 2008:19). Management thus involves getting things done through other people and is, in a sense, a transformation process, where human, technical, and conceptual skills are used to transform inputs into outputs (Morris et al., 2008:12). Entrepreneurship, on the other hand, is the process of creating value by bringing together a unique combination of resources to exploit an opportunity (Barringer Ireland, 2006:5; Stevenson, Roberts Grousback, 1989). Entrepreneurs envision the future, recognise emerging patterns, identify untapped opportunities, and create innovations to exploit those opportunities (Morris et al., 2008:12). Figure 2.4 contrasts the primary roles of the manager with those of the entrepreneur. The figure shows that managers are charged with the efficient and effective utilisation of the resources under their control. They tend to be focussed on optimising current operations. Entrepreneurs, alternatively, demonstrate creative capabilities in obtaining resources, overcoming obstacles, and persisting in implementing new ideas that represent change (Morris et al., 2008:12). Figure 2.4: Comparing and combining key roles of managers and entrepreneurs THE ENTREPRENEURIAL MANAGER SOURCE: Adapted from Morris et al., 2008:13 One of the general approaches to management methods with the purpose of creating a sustainable competitive advantage is that of strategic management (Cronje et al., 2001:24). According to Nieman and Bennett (2002:14), strategy is fundamentally about a fit between the organisations resources and the markets targeted by it, as well as the ability to sustain fit over time and in changing circumstances and to create and maintain a competitive advantage within a given market. Therefore, the nature and characteristics of strategic management is discussed in the following section. 2.6 STRATEGIC MANAGEMENT Several schools of thought with different opinions about the nature and scope of strategy can be distinguished from the literature (French, 2009:13). There is also a lack of a universally accepted definition of strategic management. However, central to most definitions is the notion that strategic management is the process through which managers formulate, implement, and monitor action plans to optimise the achievement of key goals (Rwigema Venter, 2004:195). Barney and Arikan (2001:140) define strategic management as a firms theory of how it can gain superior performance in the markets within which it operates. Venkataraman and Sarasvathy (2001:651) define the subject of strategic management as having to do with the methods used to create value and the ensuing struggle to capture a significant share of that value. Hough, Thompson, Strickland and Gamble (2008:4) propose that strategy consists of the competitive moves and business approaches that managers employ in order to grow the firm, attract and please customers, compete successfully, conduct operations, and achieve the targeted levels of organisational performance. For the purpose of the present study strategic management is defined as a process that deals with the long-term entrepreneurial work of the organisation, with organisational renewal and growth, and more particularly, with developing and utilising strategy, which is a guide to the organisations operations (Lyles, 1990:363). Strategic management has gained prominence in recent years as organisations compete in volatile environments (Rwigema Venter, 2004:197). The dynamic environment in which organisations operate poses ongoing management and leadership challenges, marked by complexity, uncertainty, and ambiguity (Rwigema Venter, 2004:93). Traditional business models are often no longer applicable and some managers are abandoning conventional approaches to strategy as they search for new ways to achieve a competitive advantage in a turbulent environment. Strategic management paradigms have shifted from essentially static to more dynamic worldviews (Scheepers, 2007:46). To summarise, in todays fast-paced competitive environment, firms face the need to be increasingly nimble and adaptive (Ireland Webb, 2007:49). Ireland et al. (2001:53) state that successfully integrating entrepreneurial and strategic actions improves a firms ability to grow and create wealth. The following section elaborates on the relationship between entrepreneurship and strategic management and on how these two fields overlap. 2.7 RELATIONSHIP BETWEEN STRATEGIC MANAGEMENT AND ENTREPRENEURSHIP While the fields of strategic management and entrepreneurship have developed largely independently of each other, they both focus on how firms adapt to environmental change and exploit opportunities created by uncertainties and discontinuities in the creation of wealth (Hitt, Ireland, Camp Sexton, 2001:480; Venkataraman Sarasvathy, 2001:480). Creating wealth is at the heart of both entrepreneurship and strategic management. Figure 2.5 illustrates how firms create wealth by using entrepreneurial actions and strategic actions within different domains. Figure 2.5: Creating wealth through entrepreneurial and strategic actions SOURCE: Ireland et al., 2001:51 As illustrated in Figure 2.5, firms can create wealth by using entrepreneurial actions and strategic actions within different domains. These domains are vital in the process of creating sustainable income streams by developing and exploiting competitive advantages. (Ireland et al., 2001:51). Strategic management and entrepreneurship overlaps in terms of their interest in venture creation, novel strategies, growth and performance of organisations (Scheepers, 2007:46). Entrepreneurship involves identifying and exploiting entrepreneurial opportunities. However, to create the most value entrepreneurial firms also need to act strategically. An integration of entrepreneurial and strategic thinking is therefore necessary (Hitt et al., 2001:479). In the previous section entrepreneurship was defined as the process of creating value by bringing together a unique combination of resources in order to exploit an opportunity (Barringer Ireland, 2006:5; Stevenson et al., 1989). As such, entrepreneurial actions, on the one hand, entail creating new resources or combining existing resources in new ways to develop and commercialise new products, move into new markets, and/ or service new customers (Hitt et al., 2001:480). On the other hand, strategic management entails the set of commitments, decisions, and actions designed and executed to produce a competitive advantage and earn above-average returns (Hitt et al., 2001:480). Strategic management thus provides the context for entrepreneurial actions (Ireland, Hitt, Camp Sexton, 2001). Entrepreneurship is about creation; strategic management is about how advantage is established and maintained from what is created (Venkataraman Sarasvathy, 2001). Entrepreneurship is concerned with how the opportunity to create value in society is discovered and acted upon by some individuals. Strategic management is concerned with the methods used to create this value and the ensuing struggle to capture a significant share of that value by individuals and firms (Venkataraman Sarasvathy, 2001:650-651). Strategic Management has to do with the achievement of ends obtaining market share, profit and sustained competitive advantage. Then again, entrepreneurship has to do with the achievement of beginnings creating markets, firms and products (Venkataraman Sarasvathy, 2001:651). Thus, entrepreneurial and strategic perspectives should be integrated to examine entrepreneurial behaviour. For the purpose of the present study this approach is called strategic entrepreneurial behaviour (SEB). SEB is entrepreneurial action and behaviour with a strategic perspective. It is the integration of entrepreneurial (i.e. opportunity-seeking behaviour) and strategic (i.e. advantage-seeking behaviour) perspectives in developing and taking actions to create wealth (Hitt et al., 2001:480-481). 2.8 CHAPTER SUMMARY This chapter attempts to provide perspective on the position of this study within the broad field of economics and business management. It defines the concept of business management as satisfying consumer needs with a limited amount of resources, through the planning, coordination, control, and motivation of these resources. Based on this definition of business management, the chapter provides an explanation of how business management stems from economics. Economics is defined as the allocation of scarce resources in order to fulfil the unlimited needs of society. This section leads to a discussion of the relationship between economics and business management. The main link between economics and business management is that the one studies the economic system as a whole, while the other studies a single component of that system.

cordless tech :: essays research papers fc

A Cordless Future Wireless technology, from cell phones to business networks is revolutionizing the world we live in. Now we can access the Internet while in our cars, on the beach, and even at dinner. This wave of technology will soon be felt in full force as we begin to travel with the assistance of a computer, run businesses with high quality networks, and check last nights game on our digital phones and personal digital assistants (PDA). Advancements made by wireless technology are allowing us greater degrees of freedom, security, and efficiency. Cars are feeling the wave of wireless technology as we speak. â€Å"General Motors Corp.’s navigation systems subsidiary, OnStar Communications, will provide drivers voice access to the Internet, starting with 30 of its 2001 models. The OnStar service provides airbag deployment notification, remote door unlocking, location services, stolen-vehicle tracking, and remote diagnostics† (Wallace). It is easy to see why this techn ology is sought after, authorities will arrive on the seen faster, thieves will be detoured, and locking one’s keys in the car wont incorporate the vandalistic approach once used. Also it is figured that 50-80% of all cellular phone calls are made from vehicles, with this new technology voice activated technology, users can expect to have both hands free while talking. â€Å"With the new services, drivers will set up profiles from their desktop PC that are then kept on servers in OnStar’s service centers. With a hands free, voice-activated interface, OnStar subscribers will use voice prompts, such as â€Å"Start my E-mail† or â€Å"Start my stock quotes† to receive information via the Internet. The service will convert Internet text to speech and read the information via synthesizes voice† (Wallace). And if that isn’t enough, the price ranges from $199 to $399 a year, a great buy, as it will cut one’s insurance bill down to size. Truc king companies are also using wireless connections to the Internet. â€Å"Wireless Internet access is just fine with ePaccar, a division of truck maker Paccar Inc. in Mt Vernon, Wash. The unit is building a package that will let truck driver’s access more than weather and directions using a wireless Windows CE device in their cabs. The commercial transportation industry is working on razor-thin profit margins and is fiercely competitive, so the ability to provide the fastest and most fuel-efficient route saves truckers time and money. And providing them with wireless access to load-brokering sites lets them pick up more cargo and make more money without deviating much from their original route† (Wallace, â€Å"Wireless Everything†).

External and Internal Environmental Analysis Essay

An external and internal environment scan is necessary in developing a strategic plan for an organization. Longmont Housing Authority (LHA) needs to assess their internal and external environment to see a full view of their strengths, weaknesses, opportunities, threats, and trends. In this paper, an internal and external competitive environmental scan for Longmont Housing Authority will be performed. An analysis of the most important external environmental factor in the remote, industry, and external operating environments is included. The most important internal strengths and weaknesses of the organization will be identified. It includes an assessment of the organization’s resources. Finally, the organization’s competitive position and possibilities will be assessed. External Environment Scan The strategic management model shows the external environment as three interactive segments: the remote, industry, and operating environments (Pearce & Robinson, 2011, p. 13). Economic, social, political, technological, ecological, and international environments affect how LHA formulates their strategic plans. In the economic environment, the company is affected by inflation, interest rates, population, and so on. The threat of depressed economy is always a factor in the success of Longmont Housing Authority. Their processes and strategies can be modified to fit the changes in the economy. Due to the changes in social factors such as beliefs, opinions, lifestyle, and preferences, the company can see the underlying trends, threats, and opportunities. An increase in population in Boulder County increases the demand for affordable housing. This is an opportunity that is open for LHA as they continue to do grow and development their organization. The increased threat of a growing population and lack of  affordable housing is an opportunity for the organization to find potential funding sources to expand their portfolio. Their new project is due to break ground next month. This is a 62 unit affordable housing for seniors. Flood victims will have priority on the waitlist for this property, due to the fact that the majority of the funding for this project came from a state flood recovery program. The increasing population is also a good opportunity for the organization because they will be able to justify the need for future housing projects that will be desperately needed in the future. Factors that more directly influence a firm’s prospects originate in the environment of its industry, including entry barriers, competitor rivalry, the availability of substitutes, and the bargaining power of buyers and suppliers (Pearce & Robinson, 2011, p. 110). However, LHA does not have to face tough competition in the housing industry. They are threatened by the threats of funding being pulled by Housing of Urban Development (HUD) or other private investors, who may find affordable housing an investment risk. Internal Environment Scan The organization has been gaining competitive advantages since their launch in 2014 of bringing the property management in house, opposed to hiring a 3rd party to handle the property management. These changes have improved staff development, improved agency financial stability, has streamlined processes, and as a result, they have developed effective policies. Because there is such a demand for affordable housing and very few investors wanting to get involved in this industry there is not much competition. LHA has been able to develop good working partnership with other Longmont agencies, to include the senior center, the police department, city council, Mental Health Partners, and other non-profits that assist the homeless and low income population. LHA’s Competitive Position and Possibilities Longmont Housing Authority is in a good competitive position due to the mentioned strengths and opportunities in the internal and external environment scan. It is highly possible that they will continue to lead in the affordable housing industry because of the focus they are providing to research and development. They can also avoid the threats and eliminate  competition by having experienced staff, and focusing on employee development. Conclusion Longmont Housing Authority is affected by the external and internal environment factors. Their strengths include their property portfolio (product) and processes. They are investing in development and they have a couple major housing projects in the works. They are threatened in the industry because of the threat of lack of funding and strict government regulations. If they will continue to push their initiative in discovering new ways to fund their projects, they can maintain or even improve their current performance. References Pearce, J. A., II, & Robinson, R. B. (2011). Strategic management: Formulation, implementation, and control (12th ed.). Boston, MA: McGraw-Hill/Irwin. The Longmont Housing Authority. (2014). Retrieved from http://longmontha.com/

Journal About Working People Part2 Example

Journal About Working People Part2 Example Journal About Working People Part2 – Coursework Example Journal about Working People In the contemporary environment, working people encounter various problems. These challenges not only differ from firm to firm but also according to work category. According to research, following could be the potential issues, faced by working people.If you are new in the organization; there could be an issue of adjustment with culture and norms of the firm, initially. Then, it is probable that old employees might not listen to your ideas and you will make errors in the beginning which may put you in a difficult position. Moreover, time management can be a hurdle.You must be prepared for all types of co-workers as some of them might disagree with you all the time and your way of working might not be coherent with their working style. Furthermore, most of the organizations have people who will bully you, create trouble behind your back, destroy your work and never lose an opportunity to discourage you. You may encounter harassment and discrimination issue s from both management and co-workers; this mostly happens if you are a woman or a migrant.Work place ethics can sometimes be very challenging as it might ask to compromise your integrity and self-respect. The relationship with higher management and your immediate supervisor are also important, as if they are problematic, then it will be difficult to effectively perform your duties. However, quitting is not always a good option in this competitive job environment. You must take every step to resolve issues you are facing in an organization.Reference"Workplace Challenges."Â  iseekjobs. Minnesota State Colleges & Universities, n.d. Web. Available online: https://www.iseek.org/jobs/workplace-challenges.html

Concert evaluation Essays - Jazz Genres, Miles Davis, Free Essays

Concert evaluation Essays - Jazz Genres, Miles Davis, Free Essays Concert evaluation Concert evaluation Alex Graham Quartet band Concert Review Humanities 211: music appreciation 3/16/11/2011 3/23/2011 Alex Graham Quartet Band The concert took place on March 15, 2011 at a place called ?Tap Room?, in downtown Ypsilanti, MI. I didn?t know the place and I was a little bit scared because the name of the bar gave me the wrong idea. I got there around 9:00 pm, the bar got three sections, when I first walk in I saw the bar area on my left, the pool (billiard) room was next and the jazz room was third next to the kitchen. The name of the band was Alex Graham Quartet band, named by the head of the band alto saxophonist Alex graham. Alto saxophonist Alex Graham has performed with several of today?s top jazz artists including Wessell Anderson, Nnenna Freelon, Louis Smith, Diane Schuur, Troy ?Trombone Shorty? Andrews. In addition to writing arrangements for vocalists Diane Schuur and John Boutte, he has also composed and arranged for small group, big band and studio orchestra. Currently he teaches jazz at EMU. His band has six members including himself: organist, guitarist, drum player, cello player, and two saxop hone players. They played several songs through the night, I?m going to pick the top five and evaluate the performance. The first piece they played was, ?It could happen to you? by Keith Jarret. The song was composed in 1996 in Tokyo, Japan. He was born on May 8, 1945 in Allentown, Pennsylvania. This solo has everything; burning bop-like lines, rhythmic motives, "out"-sounding lines and pentatonic and blues phrases. I like how the lines just flow and I can't really capture his time feel with my transcription, you have to listen for yourself. By mixing rhythms and melodic patterns this way Jarret creates a solo that feels "alive". The band played it so well, the only thing is it was long (10 mins), the only song I would say which attracted everybody at the show. In 1996, Atlanta hosted the 100th anniversary of the Olympic Games. Clinton and Al gore won second term at the white house. I believe this piece have ?everybody unite? kind of world tune. Trivia the number one song in 1996 was Los Del Rio - Macarena (Bayside Boys Mix). The second song they played was, ?Four? by Miles Davis. This song was originally written with saxophonist Eddie ?Clean head? Vinson although Davis subsequently has been attributed with its composition, ?Four? was first recorded by Miles Davis in 1954 on the album ?Blue Haze?. A little biography on Miles, In 1944 the eighteen year old Davis moved to New York to pursue a career in music. He enrolled at Julliard, but his real incentive was to be part of the new jazz being played: bebop. Bebop was music for listening rather than dancing and featured extended improvisation, frenetic tempos, complex and often dissonant harmonies and intricate rhythms. The band especially Alex and the other saxophonist played it amazingly well. The cords and melody are repeated multiple times but it gave it a nice tune. Historically , 1954 the African American civil rights movement Brown v Board of Education makes segregation in US Public Schools Unconstitutional. Rosa Parks arrest in Montgomery Alabama sets the American Civil Rights Movement in Motion. Trivia the number one song in 1954 was: Kitty Kallen - Little Things Mean A Lot. The third song they played and I liked was another Miles Davis song, ?kind of blue?. This song was released on August 17, 1959. The band performs equally well on the second track, "king of blue" and provide a melody line that many musicians use for impromptu jam sessions because of its catchiness and simplicity. It is a pleasant set up for the next tune called "blame it on my youth". The way forward, yet reflecting on the past, so simple yet so complex, all captured in this amazing piece, feel the beauty of the quintet unfold as you play through these pieces, amazing. Kind of blue is one of the most critically acclaimed the greatest songs of all time. The musical element of this song is played by different kinds of style, which I believe gave it a beautiful song. Miles

Browser-specific Web Sites. Good or Bad Essay Example | Topics and Well Written Essays - 500 words

Browser-specific Web Sites. Good or Bad - Essay Example The development of browser specific websites has come a long way from when Netscape and Internet Explorer who were the major players in the market. During this development, the various browsers developed HTML tags that could only work with a particular browser. The browser specific elements like the HTML tag are specific to individual browsers. For instance, the Netscape blink set of tags specifically apply to Netscape. Other social networking sites such as facebook, twitter, LinkedIn, Google + etcetera are designed to be browser specific sites. Setting up the web sites to be viewed using particular web browsers leads to both merits and demerits. (Negrino & Smith, 2009) According to Manian, (2012), the merits resulting from browser specific sites are as follows. Firstly they are good for companies that employ a standard browser and thus the time and cost incurred in designing the website will be much lower. Secondly, they provide rewards and incentives at different locations. They can also be used to generate badges that people unlock when writing something detailed at a given place. Another merit is that, people who work with recycling can be heard directly by the audience. More so, have the benefits of sharing experiences or opinions about news and events. It personalizes and localizes recycling. One may draft posts and publish them later. It has irregular and spread out updates. Securing the web browser eliminates computer problems which are always caused by spyware being installed without the users’ knowledge to intruders taking control of the computer. In addition, it enhances access to cloud services is properly managed and audited in spite of whether the employees are working within or outside the corporate firewall. Browser specific websites hold up conformity reporting and forensics by giving the option to capture a screen-shot of browser content and create a visual audit trail of interactions with managed applications.

Changes in the Demand and Supply of Cooking Gas in the U.S Research Paper

Changes in the Demand and Supply of Cooking Gas in the U.S - Research Paper Example This paper describes current state of American market for cooking gas in terms of the volumes of demand and supply at a time of the introduction of new technology of gas production. There is also a grafical illustration of these changes in the diagram in the paper. Cooking gas is one of the basic items whose demand and supply has been very unsteady over the years 2011-2013 . These situation led to changes in the prices for cooking gas in the U.S. The new engineering tools have resulted into boom in the supply of natural gas products, hence a change in the consumption pattern for cooking gases. Natural gas has become a preferred energy source in the U.S. and has served as the replacement of the old and popular coal-fired generations and nuclear gas in some circumstances. The U.S. has faced a new challenge in meeting the growing demand for natural gas products, particularly cooking gas, as the supply of natural gas products with the the introduction of new technology significally rised. The report by the EIA revealed that the demand for natural gas has been fueled by the fast increasing industrial energy demand. The industries are preferring natural gas over other sources of energy given its economics value such as reduced negative externalities such as pollution and affordability These changes in the prices of natural gas have given rise to speculative demand for natural gas in the U.S. Given the price elasticity of demand for natural and cooking gases in U.S., any little change in the demand for these products results into a significant change in prices.

Unit 4 DB Introduction to Law Enforcement Essay Example | Topics and Well Written Essays - 250 words

Unit 4 DB Introduction to Law Enforcement - Essay Example ction responds to immigrations and customs violations such as smuggling with a frontline service as far as the law enforcement responsibilities of the Department of Homeland Security are concerned. CBP combines an integrative border law enforcement effort incorporating the services of other agencies to form a formidable administrative umbrella that facilitates legal, safe travel and trade. Under this framework, the agency absorbs employees from the Immigration and Naturalization Service (INS), the Border Patrol, the Customs Service, and the Department of Agriculture with the main mission of preventing terrorists’ activities, especially those touching on weapons of mass destruction from entering the country (DHS, 2012). Based primarily at U.S. border-points of entry as well as ports, the agency duties involves apprehending illegal immigrants, stemming the flow of illegal drugs/chemicals, and protecting the nation’s agricultural interests from external harmful pests and diseases. The agency also collects data on imports and imports for the nation’s control of its strategic trade balance as a player in international economics (DHS, 2012). Basically, law enforcement involves the services of a chain of agencies right from the federal level down to the local sheriffs operating at the community level. Given its operative mechanics cutting across through to the intelligence networks, the agency monitors, collects, analyses and disseminates its intelligence reports to and from the federal, state, local and international links for a proper understanding of illicit international exchanges, which touches but goes beyond immigration issues. Indeed, the engagement between this particular agency and the local law enforcement agencies since the September 11 has been fruitful enough to keep the nation off another deadly attack from its sworn enemies, the al-Qaeda. While it is commendable that information trickling down from the agency helps local organizations to function

The National Association for the Education of Young Children Essay Example for Free

The National Association for the Education of Young Children Essay The elementary school teacher decided to integrate reading and writing into geometry lessons to improve the scores of students. In particular, the students had to use the names of geometric objects as well as their other attributes to write the poems. The experiment has shown a significant improvement in geometry scores. Making children more involved with the task at hand and making tasks more interesting were the main reasons for improvement in scores. The author confirmed my personal belief that the children will only learn school subjects better if they are personally involved with them on some level. In this scenario, they liked writing poems because they thought the poems were fun. They gladly extended their knowledge of geometry to use it in their poems. However, geometry is a difficult subject to learn for many people, not just children. I suspect the main reason is because it seems to be boring. By making geometry fun, we can easily enhance our learning and make our learning sessions more productive. Having been a student myself for many years, I agree with the author that the first priority in learning should be placed on getting a person to be more involved with the task. The best way to do it is to make the task interesting. The author proves that even the most â€Å"boring† school subjects can become suddenly interesting if we will tie them to some interesting activity. This experiment sheds some light on how effective learning occurs. It seems as if the most effective learning takes place when we experiment with different ways of looking at things, and we try to extend our observations beyond what we normally see. This article plays a very important role in understanding the learning process in our brains.