Media Audience Essay Example | Topics and Well Written Essays - 2000 words

Media Audience - Essay Example Media research issues are numerous and some of them are associated with the ethnography. Meeting individuals, watching them, taking an interest in their exercises, encountering, reflecting, and understanding are viewed as the genuine ethnography. Media ethnography is virtual, appropriate, gathered encounters, matters of consistently life, some significant and the rest irrelevant. There ought to be a custom, or progression in it on the grounds that the field or article ought to have existed for at any rate a specific measure of time, media ethnographies are about the end clients, here, they are the crowd. It is essential to know how ethnography could be contextualized. While investigating on the key issue of ethnography, for the most part it is done on the imperatives set on the media. Media ethnography contemplates different fields of media and how it could be utilized in understanding the crowd. Crowds are not clear pieces of paper on which media messages can be composed; individuals from a group of people will have earlier perspectives and convictions which will decide how powerful media messages are, Abercrombie (1996, p. 140). Media ethnography is another strategy, and one of... In remote exploration correspondence presents methodological difficulties where mobile phone utilization is concerned. It is fascinating to discover the social standards, adherence and breakage from them, and how new principles and new mobile phone behavior are planned constantly. It maps the PDA's ability of quick turning into the social geography markers and it investigations the pattern. Scientists face the issues of dissecting the adjustments, advancements, revelations, new social communications, infringement, disposing of old social practices via telephone. New media research is additionally compelled to dissect the use of codes in social communications and discussions. There are numerous difficulties that are stood up to by media analysts in coding as well. On the off chance that the examination is about the web, specialist needs to discover the explanation, inspiration, sorts of data and dynamic while investigating on web. It is imperative to know how it is utilized for online meetings, how individuals are found and situated, how it is superior to individual meetings, or over phone and how it is utilizing the refreshed innovation. It is additionally fascinating to get some answers concerning the talk rooms that utilization numerous themes, political, conservative, social, strict, social and educational and why, how and how frequently they utilize this office. Exploring on use-net and message sheets had not been simple either. Specialist faces challenges in discovering individuals for meet and holding their enthusiasm for the hour of his examination. Great testing is a similarly troublesome assignment in light of the fact that to make and structure such a gathering of second to none again is troublesome. Organizing the meeting, choosing its mode and methods for leading such an

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Hadirin yang dihormati sekalian, Adakah anda masih ingat kepada pesan ibu dan bapa yang selalu mengingatkan bahawa rajinlah belajar agar jalan kehidupan tersedia luas terbentang untukmu? Ingatkah kita kepada individualized organization customized structure Plato dan Confucius berbunyi â€Å"tuntutlah ilmu hingga ke negeri China†. Mengapa hadirin, sejak dari zaman dahulu hingga ke hari ini dan di setiap pelosok dunia sama ada di Eropah, Afrika mahupun Asia, pandangan terhadap pendidikan ialah sama iaitu pendidikan merupakan asas perkembangan umat manusia. Tetapi mengapa pendidikan menjadi begitu penting kepada kita? Hadirin yang saya muliakan sekalian, pendidikan dapat melatih minda manusia untuk berfikir dengan lebih luas dan rasional. Melalui pendidikan, pengetahuan maklumat dapat diluaskan dan digunakan untuk kebaikan bersama. Sebagaimana yang diungkapkan Daoed Joesoef (1986) tentang pentingnya suatu pendidikan yang mana beliau menyatakan bahawa Pendidikan merupakan segala bidang penghidupan, dalam memilih dan membina hidup yang baik, yang sesuai dengan martabat manusia dan sudah tentulah daripada pernyataan tersebut kita dapat menyimpulkan bahawa mempunyai pendidikan pada masa sekarang merupakan hal yang sangat penting kerana jika kita tidak mempunyai pendidikan kita tidak akan kemana-mana. Tanpa pendidikan dan tanpa kemahiran membaca, capaian pelbagai akses terhadap pelbagai bentuk pengetahuan seperti buku, web atau media lainnya sama sekali tidak memungkinkan kita untuk melangkah maju ke hadapan. Pendidikan merupakan tunjang uta ma kepada pembentukan modular insan yang akan membantu kepada pembangunan negara. Pendidikan mempunyai impak yang besar ke atas pelbagai peluang kehidupan manusia agar masa depan seseorang tersebut terjamin dan kualiti kehidupannya terpelih... .... Kesimpulannya, corak pendidikan yang diaplikasikan di Malaysia adalah lebih menyeluruh kerana ia merangkumi aspek fizikal dan rohani. Pendidikan di Malaysia bukan sahaja ingin membentuk pelajarnya yang aktif dan cemerlang dalam kurikulum dan kokurikulum malah ia juga memberi fokus kepada kelengkapan rohani dan moral agar pelajar yang dilahirkan sempurna dari segala segi. Maka dengan itu hadirin, saya sekali lagi menegaskan, pendidikan ini bukan sahaja penting untuk mengembangkan minda dan bakat manusia, malah ia juga penting untuk memacu legasi pembangunan negara. Ini adalah kerana pendidikan merupakan nadi kepada pencetus kegemilangan dan martabat sesebuah negara tersebut. Oleh itu, penting sekali untuk kita sebagai rakyat Malaysia dalam melancarkan aspirasi negara iaitu mencapai kecemerlangan dalam pendidikan untuk menaikkan nama negara di persada antarabangsa.

How to Calculate Required Rate of Return

How to Calculate Required Rate of Return You have kept some money away and have finally decided to put it to use.Whether you kept it in a bank’s savings account or it is money received from another source, you want it to grow.And what better way than to invest it?With investments, you have many options and picking one isn’t easy.But something that’s even more difficult is deciding where to invest.Do you buy the shares of company A or B or C? Do you ditch the stocks and go for a government bond?Which is better between company shares and government bonds? Why are some people die-hard fans of stocks while others swear by bonds? What’s the difference?If you are new to investing, you might have an easier time going for bonds.These are sure investments with very little risk associated with them.Bonds do not necessarily need expert analysis as they are pretty straightforward.Some can however have some clauses which you may need to understand first as they may affect your returns.The low risk levels of bonds makes them pay out lower returns. And the less the amount you put in, the less you will make out.Stocks on the other hand are more risky and better-paying. You simply get more earnings for risking your money.The risk associated with stock prices comes from the fluctuations they experience.The stock price of a company may be at $40 today. Tomorrow morning, it may rise to $42. Come afternoon, due to a decision announced by the CEO, the price could fall back to $40.As investors and market analysts discuss the effect of the decision made, the stock could close the day at $35.This kind of volatility is not everyone’s cup of tea.Not everyone is able to respond quickly to mitigate the risk involved in not selling at the right time.Required Rate of Return definedIt is this scenario that makes investors want to forecast how much they are going to make before investing.Since stocks generally provide higher returns than bonds, flocking to the stock market can only be a natural response.Choosing stock inves tment is great, but you have to choose the right company beforehand.To avoid losing your money, it is important that you try to predict your potential returns.One of the ways of doing that is by calculating the required rate of return (RRR).The required rate of return is the minimum rate of earnings you are willing to take from a given investment.It is more of a threshold you set for yourself so that any investment which promises anything less than that will simply not warrant your attention.This will make it easy for you to make an investment decision.This rate will provide the necessary guide to choose between any two or more options.Being required means that this rate is a set standard.And who sets the standard?It is you.There is no agency or organization which can set this for any investor. The only thing someone may do is to advise you based on your unique circumstances.As such, the RRR is a subjective approach to calculating potential investment returns.What influences the req uired rate of return?There are at least three factors which will make the required rate of return differ between investors.This is why there cannot be a published rate given as a blanket guide for everyone.Here is a brief discussion of the three factors.1. Risk tolerance levels â€" risk tolerance is the capacity to tolerate or take risk. In other words, risk tolerance asks the question, “How much risk can you take?” The more risk you can handle, the higher your risk tolerance The less risk, the lower your risk tolerance is.This is important because every investor is different.Whereas some people are very risk averse, some are very comfortable with the idea of risking their money.This latter group is the one which would rather put their money in the government bonds. Source: Forex ZoneIf you are adventurous enough to risk your money, then it will be wise to know the level of risk you are willing to take.You may need to study the market or get a good analyst to help you make quick decisions.2. Investment goal â€" every investment made has a goal it wants to achieve. You may want to purchase a home in two years or buy a car. You may want to raise enough money for college or even to start your own business. Whatever the goal, your investment is your trusted means to achieve it.With goals being different, simply because humans are different, then you need to know which kind of investment will best get you what you are aiming for.Some investments will give quick yields while others will be slower.Intending to use an investment to reach a specific goal requires that you study the market a bit.You will need to understand the industry you are investing in. within the industry itself, you will need to know how different companies conduct business and how that affects their stock prices.This will help you be more certain of where to put your money.3. Investment duration â€" how long do you want your money to remain invested? To answer this question, you need to have your investment goal clear. If you want to go to college next year, it means you only have 1 year to get the money needed.Therefore, your investment goal will be what determines your investment duration. Your investment duration will then determine which stocks you can buy.If you go for one which doesn’t grow quickly, you may get to December without much to celebrate.This calls for an understanding of how investments work.First, find out which industry is growing faster than the others. Then find out what is making it grow. This is what you will be watching because anything happening to it will affect stock prices.Next ask yourself, “Which company in this industry is showing the greatest potential?” Dig into the history of the prices. What are trends? What have anal ysts been saying? Equip yourself accordingly, otherwise, invest in an experienced analyst who can advise you. The only drawback to using an analyst is that you will likely be paying him.If you are willing to learn something new, investing is not hard. It is also fun.And who knows, you might turn out to be the newest and best analyst in town.REQUIRED RATE OF RETURN CONSIDERATIONSIn your quest to come up with a non-negotiable threshold, there are some things to consider.These will help you make accurate calculation and not come up with a rate which will hurt you.When it comes to the RRR, these are the terms and conditions.It Doesn’t Factor in InflationYour investment will always be affected by inflation rates. And not only your investment, but also your returns.If inflation rises, then life becomes more expensive.When life is expensive, the value of money goes down as it is no longer able to buy what it used to buy.This means that the money investors have set aside for investment wi ll reduce as they take care of other life matters.Eventually, investments will reduce. Demand for stocks will go down as the supply either remains or goes up as companies look for more money.On the side of inflation and your returns, the money you get will also be subject to inflation. Inflation will affect your purchasing power and so your returns will be of lower value in case of a higher inflation rate. Source: Tutor2uBearing this in mind, any time you are calculating the required rate of return, you have to factor in inflation.If you do your math an come up with a rate of say 4%, then you will simply add the inflation rate so as to cushion yourself.It Doesn’t Factor in Investment LiquidityLiquidity is the ease of selling something off and getting cash. Investments have a liquidity which you have to determine.This you do by looking at how easy it is to trade them.If a stock is liquid, then it can easily be traded. This comes down to the demand which is affected by among other things, the profitability of the company or industry.If the investment you are about to make may not be salable for a duration of time, then it bears more risk.If you are to go ahead with that investment, then you have to require a higher return from it.This is in line with the investment rule that the higher the risk, the higher the return.REQUIRED RATE OF RETURN VS EXPECTED RATE OF RETURNThe investment worl d is full of words which may leave you a bit confused. Some may seem very similar.Two potentially confusing terms we will look at are the required rate of return and the expected rate of return.The required rate of return, as we have already mentioned, is the minimum investment return you can consider before putting your money into it. It is the threshold. If an investment doesn’t make it past the threshold, you simply keep your money and continue searching.The expected rate of return is different.This is the return you are looking to receive from an investment. For you to calculate the expected rate of return, the investment must have first of all passed the required rate of return test.You will then be seeking to find out just how much you are going to make in that particular investment.To make it easy to differentiate these two, just remember that one is the determining factor while the other is the profitability factor.One dictates whether to invest, the other tells you how mu ch you will get after you invest.The Risk FactorIt is of great importance to understand that investments are risky, especially in the stock market.If you want guaranteed returns, then look to the risk-free investments which come in the form of bonds. Those however have lower returns.If you go for stocks, you better start befriending risk. The required rate of return and the expected rate of return should never be your guarantee of success. Investments come with many factors to be considered.Understand the market volatility and know that you may get higher or lower returns than what you predicted.REQUIRED RATE OF RETURN FORMULASWith sufficient knowledge on the basics of RRR, it’s time to look at how to calculate it. Calculating the RRR will usually take either of two formulas.The first is the Dividend Discount Model and the other is the Capital Asset Pricing Model.Dividend Discount ModelYou will use this model when considering an investment into shares which normally pay dividends. This model is also called the Gordon Growth Model.One assumption which you have to make when using this model is that the dividend payout grows at a   constant rate.This can be determined by looking at the dividend payments done over the course of several years.The formula for this model is as below.RRR = (Expected dividend payment / Current share price) + Dividend growth rateExample CalculationSince company X became public, it has been paying its shareholders a dividend which grows by 5%. Next year, it is expected that it will pay a dividend of $3 per share. The company’s stock is currently trading at $80.If you were to invest in company A, this is how you would calculate the required rate of return.RRR = (3 / 80) + 0.05 = 0.0875 i.e. 8.75%Considering that RRR doesn’t consider inflation rates, given an inflation rate of 2%, an RRR of 8.75% means that your returns would actually be 6.75%.If the investment is promising something bigger than 8.75%, then it’s a worthy investment .Capital Asset Pricing ModelNot all stocks pay dividend. When considering an investment into such stocks, then the formula to use is the Capital Asset Pricing Model (CAPM).This model uses three variables to calculate the RRR.These are the beta of the investment, the average market rate of return and the rate of return on a risk-free investment.Let’s look at these variables before getting to the formula.Beta is the risk coefficient of an investment. It is the level of risk an investment carries. In more technical terms, it is the measure of an investment’s volatility compared to the market return.The beta of investments are usually available in financial publications. When an investment has a beta of 1, it means that it will fluctuate with the market.If it is less than 1, then it is less volatile than the market. If more than 1, then it is riskier than the market average.Average market rate of return â€" this is the return which the market experiences on average. For example, the re is an average return which investors in the car manufacturing industry usually get. Like the betas, these returns are available from SP, the Dow or NASDAQ.Risk-free rate of return â€" this is the rate of return you get from risk-free investments. To be on the safe side, you should use the highest risk-free rate which is applicable to you.There are two places to look for this rate.One is your local bank. The risk-free rate from them is the interest rate they give you for a cash deposit. You can also consider the short-term US treasury securities.These give a return rate which is guaranteed, though low.The CAPM formula takes these three variables and uses them to calculate the RRR of an investment. The formula is:RRR = Risk-free rate of return + beta (average market rate of return â€" Risk-free rate of return)Example CalculationCompany A has a beta of 1.2. This value indicates that the stock is riskier than the average market’s beta of 1. The average market rate of return is 7%.T he banks give an interest of 1.5% on cash deposit for a savings account while the US securities are giving 2%.For the CAPM calculations, you will use the 2% from US securities as the risk-free rate of return.This is because you are looking to gain more than the US bonds can give you. Using this example, the calculation of your RRR will be:RRR = 0.02 + (1.2 (0.07 â€" 0.02)) = 0.08 i.e. 8%Using this model, the minimum rate of return you can risk your money for is 8%.Any investment promising a return rate greater than 8% will be worth considering.CONCLUSIONWith these two formulas, you can confidently gauge the profitability of an investment.All the same, keep in mind that it is very difficult to predict the risk factor of an investment with 100% accuracy.As such, these formulas remain to be guides but not assurances.

Genocide In Darfur Essay - 1462 Words

As of March of 2008, a total of 300,000 people have died in Darfur, Sudan due to genocide. That is equivalent to the entire population of Pittsburgh, Pennsylvania. The Genocide started back in February of 2003 in Darfur, Sudan. The Universal Declaration of Human Rights defines the liberties set for everyone in the World. Established in 1948, the Universal Declaration of Human Rights displays the rights and freedoms to which all humans are entitled to. The situation in Darfur, Sudan is known as Genocide, Genocide is defined as a systematic extermination or attempt at exterminating a national, political, racial or cultural group. The Darfur Genocide has violated Article #3, Article #5 and Article #9 of the Universal Declaration of Human†¦show more content†¦Next, the Sudanese government violates article #3 by supplying the Janjaweed military regime with military power and covering up military crimes. The government of Sudan has interfered with anyone who has tried to stop the Janjaweed regime. Along with this they have covered up or attempt to cover up the military investigation against the Janjaweed government. Since these acts of violence have been allowed to go on a total of 400,000 Darfurian innocent civilians have been killed, (â€Å"Facts on Darfur† NP).The United Nations along with the ICC are acting out against this, on March 4, 2009 had a warrant for the arrest of Sudan leader Omar al-Bashir. Finally, the Darfur has violated the right to life of article #3 of the Universal Declaration of Human rights. The people of Darfur of unarmed and are up agianst a government backed military regime. This has caused much unrest for the people, and lives are being infringed upon. People are being slaughtered daily by a ruthless regime, without ever having a chance to live life. Article #5 has been violated by the Genocide in Darfur. Article #5 says no one shall be subjected to torture or to cruel, inhuman or degrading treatment or punishment. First, article #5 is being violated by the torture that is going in Darfur. The Janjaweed military regime has targeted women, children and even men. TheShow MoreRelatedGenocide in Darfur Essay1531 Words   |  7 PagesHolocaust of Today: Genocide in Darfur By definition, genocide is â€Å"the deliberate and systematic extermination of a national, racial, political, or cultural group.† According to Eric Reeves, writer for the Sudan Tribune, genocide â€Å"encompasses not only the killing of members of a national, ethical, racial, or religious group, as such, but also deliberately inflicting on the group conditions of life calculated to bring about its physical destruction in whole or part.† Whatever genocide may be definedRead MoreGenocide in Darfur Essay1479 Words   |  6 PagesIn recent times, the media has highlighted the genocide that has been occurring in Darfur, Sudan. Darfur, Sudan is a country roughly the size of the state of Texas (Darfur Scores, n.d.). Genocide is the systematic killing of an entire ethnic group of people from a national, ethnic, or religious group, or an attempt to do away with them all (Darfur Scores, n.d.). Beginning around 2003, according to Darfur Scores (n.d.), â€Å"the Sudanese gover nment in Khartoum and the government-sponsored Janjaweed militiaRead MoreGenocide in Darfur Essay2011 Words   |  9 Pagesconflicts that stood out from the rest, and still remains present in today’s society. This conflict is called a genocide; the deliberate and systematic extermination of a nation, racial, political or cultural group ( United States ). According to the united sates holocaust memorial museum the term genocide didn’t really come about until 1944. A Jewish- Polish lawyer coined the name genocide in 1944. He did so surfing the reign of Nazis to describe the constant murder. He formed this word from theRead MoreTaking a Look at the Darfur Genocide529 Words   |  2 PagesThe Darfur genocide was the first genocide in the twentieth century and it is also the first genocide to be declared genocide. Sadly the Darfur genocide still remains and millions of people are still being affected as of today. Roughly around 400,000 innocent lives were lost. (Society in Darfur, Chiff.com) In the year 2011 more than 500,000 Sudanese civilians were being driven out of their homes by the government’s harsh actions and decisions and this number is still rising. (It’s in my blood, stopgenocideRead MoreGenocide in Darfur Essay examples1155 Words   |  5 PagesGenocide in Darfur Darfur is the western region of the African country of Sudan. Currently, the people of Darfur have been continually attacked by the Sudanese army and by proxy-militia controlled by the Sudanese government. Families are being uprooted and starved, children tormented and murdered by the thousands and women raped without punishment. Innocent civilians in Darfur continue to be victims of unthinkable brutality. Many people have become homeless and seek protection in refugee campsRead MoreEssay on Conflicts in Sudan: Genocide in Darfur1547 Words   |  7 PagesThe Republic of Sudan, or Sudan as it more commonly known, is currently in a state of crisis. Darfur, in western Sudan, is in the middle of the worst humanitarian crisis in the world right now. They are on the brink of genocide, the deliberate killing of a very large number of people from a particular ethnic group or background. Like Most civil wars the incidents have been occurring for over twenty years. The armed conflict began to get serious in February of 2003. It was then that the SudaneseRead MoreWhat Caused the Darfur Genocide? Essay894 Words   |  4 Pagesmarginalization of the area in Darfur. Darfur is a region in the western part of Sudan, where it is home to 6 million people from around 100 tribes. In response to the attack, the Janjaweed, which is the government-supported Arab tribesman, raided non-Arab villages in Darfur to create a Pan-Arab state by eradicating all the non-Arab farmers from the land. The Darfur genocide arose when the Sudan Liberation Movement and the JEM, which is the largest rebel group in Darfur, entered Al-Fashir, the capitalRead MoreGenocide in Darfur Essay examples666 Words   |  3 Pageseven worse because this world has so many resources and has learned over the years to use it, but they don’t act on Durfur. Nothing has been done by the United Nations, which is full aware of the situation and has more then enough power to stop the genocide, to actually act. It’s up to you, your going to be the people in charge of the future, to make sure that none of this will ever happen again. In history, we learned about WW2 and The Holocaust. In 1932, Hitler rose to power as chancellor of GermanyRead MoreEssay about Examining Genocides in Germany, Armenia, and Darfur991 Words   |  4 Pagesfrom 1933 to 1945 (Roth). Merriam-Webster’s Online Dictionary defines the word, ‘holocaust’, as â€Å"a thorough destruction involving extensive loss of life especially through fire†. This definition describes the Nazi Holocaust, the Armenian genocide, and genocide in Darfur, to name a few (UHRC). In 1933, Hitler’s Nazi regime took power in Germany at a time where the people lacked patriotism and were upset with their government. After losing World War I, Hitler’s anti-Semitism mindset was based on hisRead MoreThe Genocide Still Going on in Darfur, Sudan Essay examples1048 Words   |  5 PagesNot everybody believes in genocides, other may have a different opinion or thoughts. Sometimes people don’t realize its genocide because they believe in what they are doing and they think there is no harm done because it’s not affecting them. To be taken away from your family, to go live somewhere else or to be killed can have a huge impact on your life. Genocides play a huge role in the world; it has and will affect many people. In Darfur there is a genocide going on, it has been going on for a

SIG Interview Questions Essay - 3036 Words

SIG Interview Questions 1. Torpedo question: 2 torpedoes, each with 1/3 probability of hitting/ sinking a ship 2. I have 20% chance to have cavity gene. If I do have the gene, there is 51% chance that I will have at least one cavity over 1 year. If I don’t have the gene, there is 19% chance that I will have at least one cavity over 1 year. Given that I have a cavity in 6 months, what’s the probability that I have at least a cavity over 1 year? 3. What is the probability of 5 people with different ages siting in ascending or descending order at a round table? 4. We are racing, and can at any time signal to the other that we would like to double our bet. Weve put down 100 to start and during the race I signal to you I want to double†¦show more content†¦Also, cards worth less than 5 are now valued at $0. What is the maximum price you are now willing to pay for the game? 19. Marble weighing questions 20. How many ways can 5 different people sit down at a round table? How many ways can 5 different people sit down in a line of chairs? What if they were seated at a long table with exactly five seats (the 5 people will sit side by side)? 21. I want to have a birthday party outside this weekend (i.e. need sunny weather). On Saturday, the chance of rain is 60 percent, sun 40 percent. On Sunday, rain is 80 percent, sun is 20 percent. From there, the interviewer can ask an array of questions: What are the chances I can have my party this weekend? If I have my party, what are the chances my party is on Saturday/Sunday? Variation: You can hold a party only if there is no rain on either saturday or sunday. The probability of rain on a saturday is 80% and 60% for sunday. What is the probablity you can hold a party at the weekend? Given that you held a party, what is the probability that that it rained at the weekend? 22. Two blind men are carrying 3 pairs of red rocks and 3 pairs of white socks. They hit each other in the mall and have to redistribute the socks so that they receive the same amount of each color they had before. They cant receive any outside help. How do they do it? 23. If i toss 3 pieces on a tic-tac-toe board at random, and I pay you $9 ifShow MoreRelatedLow Attendance Culture at NYUAD1602 Words   |  6 Pageswho are financially constrained from joining an event. In an attempt to have students’ attention and guarantee consistent attendance, SIG leaders and event organizers within the university offer attendees Indian food from the infamous local restaurant Al Ekram or sushi from Sushi Central. This has become a common practice among SIG leaders, who seduce members with food. Therefore more people are starting to figure out ways to get around the attendance issue by getting food. HoweverRead MoreInfluence Culture On Career Decision Making As Well As Determine The Level Of Satisfaction And Excitement1144 Words   |  5 Pagessatisfaction and excitement of students. 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Purpose of the Strategic Staffing Handbook A definition of strategic staffing A description of the job analysis process The approach to posting a position An example of application form Layout the interview process The organization’s interview philosophy Examples of interview questions Approach to pre-employmentRead MoreImportance of Communication in the Design Community Essay723 Words   |  3 Pagesloose credibility, and not provoke professionalism (Ludden 13, 62). A few things to remember are; use clear pronounciation, speak slowly (but not so slow that people think your mocking their intelligence, use correct grammer (or the listener will question your education), be clear, and don’t use certain words repetitively to keep the listener interested (Ludden 13, 54). At the end of the session, review the key points of the discussion and the future arrangements set in place (Molen 10, Ludden 68)

Analysis Swot Tows and Financial Herman Miller Free Essays

Financial Ratios and Analysis of Herman Miller Liquidity Ratios Liquidity ratios for a company help whomever is analyzing the data determine the company’s liquidity. When a company has good liquidity they are able to pay off their short term debt without having to take out any additional financing. We will look at Herman Miller’s current ratio for 2009 and 2010. We will write a custom essay sample on Analysis Swot Tows and Financial Herman Miller or any similar topic only for you Order Now The current ratio is calculated by taking the company’s current assets and dividing it by the current liabilities. It shows how many times the current assets can cover the current liabilities. 2009 current ratio | 2010 current ratio | 50. 9/282. 2= 1. 597| 394. 7/313= 1. 261| Herman miller’s current ratio in 2009 of 1. 597 shows they have approximately $1. 60 of current assets to ever $1. 00 in current liabilities. In 2010 they had $1. 26 of current assets to ever $1. 00 of current liabilities. This is a bit of a drop from 2009 to 2010. With the ideal point for the current ratio being above 1. 0; Herman Miller can cover their short term debt without any financing but, the ratio is still mediocre. Debt Management Ratios Debt management ratios show to what extent a company uses borrowed funds to finance its operations. These ratios are important to a company because creditors use them to determine the riskiness of the company’s financial position. Using the debt ratio we can determine how much of Herman Miller’s assets are provided through debt. The debt ratio is found by taking the company’s total debt and dividing it by the total assets of the company. Here is the debt ratio for 2009 and 2010 Debt Ratio 2009| Debt Ratio 2010| 759. 3/767. 3= . 99| 690. 5/770. 6= . 896| From the debt ratio we can tell that Herman Miller has nearly as much debt as assets in 2009. This could shy away some creditors. In 2010 they improved y about 10% which really helps their potential ability to gain more financing from creditors. With ideal ratio being below 1 Herman Miller is ok here but far from good. Profitability Ratios Profitability ratios are used to determine how profitable a company is during a specific period of time. These ratios are important because most investors will look at them when deciding whether or not to take stake in your company. High profitability shows that your company is strong financially, and, can also show that your company is growing. We will look at the return on assets ratio for Herman Miller. The ROA is found by taking the net income and dividing it by the total assets of the company. The ROA shows how well a company can turn the money it has to invest into net income. Here is the Herman Miller’s ROA for 2009 and 2010 ROA 2009 | ROA 2010 | 68. 0/767. 3= 8. 86%| 28. 3/770. 6= 3. 67%| Herman Miller has pretty good ROA considering the industry they are in. according to statistics posted by Fortune 500 on money. cnn. com Herman miller was one of the few profitable companies in their industry with many of the top competitors losing money from 2007-2009. So looking at the industry this is a strong ROA. http://money. cnn. com/magazines/fortune/fortune500/2009/industries/216/index. html) SWOT Analysis Strength The first strength we will talk about is that Herman Miller is a profitable organization. In the two years that we looked at (2009 2010) Herman Miller had a positive ROA. This shows that even during the harsh economic times in the United States over the last four years Herman Miller has managed to make a profit where a lot of their competition struggled. Another strength that Herman Miller has is its management. The best example of this being a strength is the fact that Herman Millers top executives are illing to take pay cuts before the general workforce in 2009 they took a 10% cut in January and another 10% in march when they cut all other employees 10%. Showing your workforce that you are willing to make the sacrifices to stay employed before they bottom of the totem pole makes the employees feel appreciated and more willing to go along with a pay cut when necessary. The third strength we recognized is that Herman Miller creates an empowered and positive workforce. Employees at H erman Miller feel empowered they have no problem telling a supervisor that they are breaking the rules and also feel like they can make some decisions. Empowering your workforce even just a little boosts morale and makes workers feel like they are important to the company. This in The last strength we will mention is Herman Miller’s production. Herman Miller implements the process of lean manufacturing. They call their process the â€Å"Herman Miller Performance System†. They maintain efficiencies and cost savings by minimizing the amount of inventory on hand by using â€Å"just in time† inventory process in the case they mention that some suppliers deliver to Herman Miller multiple times daily. Weaknesses The first weakness would be how close their debt ratio is to 1. Having such high debt ratio could chase away creditors. When you have a small amount of creditors to choose from then you lose the power to choose between different creditors depending on interest rates and other variables. This could greatly increase things like interest expense. Another weakness Herman Miller might have is also a strength. The manufacturing strategy and using just in time inventory can be very efficient but, it can sometimes create problems. If a supplier ran out of material or some other type of crisis could cause Herman Miller to lose out on orders and in relation lose out on sales. The third weakness is their participative management style. Although this could be considered a strength if this style isn’t used appropriately it could affect the company in a bad way. If managers take too much time making decisions because they want to have their employees participate in all decisions then it is extremely difficult to make the quick decision when needed. Sometimes in business managers need to make this quick decision and, with participative management if made fully participative some employees may feel different emotions about a decision being made without them knowing it was being made. The last weakness is they are in somewhat of a specialty market during a harsh economy. Being the manufacturer of high end office furniture during a recession is a big weakness when it comes to growth. Not many consumers are looking for high end products right now although they are still profitable with the strategy they have it could take a serious downturn if things were to get worse. Opportunities One opportunity that Herman Miller has is to become totally green. This means having next to no waste and using renewable resources. Herman miller has been working a little bit towards this in the past years. With the demand of environmentally friendly products on the rise this would open up the opportunity to break into and dominate a new market segment. Another opportunity is the increased amount of time spent by people in front of their computers. This is an opportunity because it opens up the idea of making ergonomically superior office furniture that would make the consumers time in front of their computer more comfortable and reduce the risk of injury. The third opportunity is the growth in the Mexican economy. With the Mexican economy rapidly growing this opens up a whole new country that Herman Miller could potentially do business in. the possibility of a whole new demographic of customers along with the possibility of opening a new location. The last opportunity Is the rising demand of senior housing in the United States. The baby boomers are getting older every year and with senior housing overflowing all over the US there will be more housing opening. These housing centers will need office furniture along with household furniture to furnish the units. Threats The first threat we will mention is the rise in telecommuting. With more and more people and business using telecommuting the demand for office furniture will see a hit. This could potentially hurt the sales for Herman Miller. Another threat is the possibility of new entrants in the market from overseas. Having international competitors enter the market can really hurt Herman Miller because of their ability to obtain low cost material while still creating a quality product. The third threat is the possibility of another economic downturn. With the economy on the downside right now Herman Miller is remaining profitable but would they be able to take an even harsher recession. The last threat is the shortage of skilled workers in the US. With skilled workers declining steadily in the US it is starting to effect manufacturing companies. Without skilled workers you have a higher turnover rate and longer training periods. This will boost up cost and will lose Herman Miller money in the long run. TOWS Analysis Strengths and Opportunities Herman Miller’s strength of an empowered good willed workforce could help them take advantage of the opportunity of the growing senior housing demand. With a workforce that is happy and willing to work they would have no problem taking on the extra hours and work needed to keep up with the added demand. Another strength that Herman Miller could use to take advantage of an opportunity is their production strategy would work well with the opportunity of a growing economy in Mexico. Using their production strategy and opening a new location in Mexico could help them benefit from the rapid growth of the Mexican economy. Strengths and Threats The strength of having empowered and good willed employees could help with the threat of declining skilled workers in the US. If the employees you get that are skilled are less likely to leave you company if they feel empowered and enjoy working there. This will lower your turnover rate and your demand for more skilled workers. Another strength that Herman Miller has is their management willing to take pay cuts. This could help during the threat of an economic downturn. During economic downturn most companies need to cut cost for the decrease in demand of their product having top executives take 10-20% pay cuts really helps the cost cutting process and, could be the difference between going under and staying afloat during a recession. Weaknesses and Opportunities A weakness for Herman Miller is operating in a high end market during a harsh economy. They could open up a new location in Mexico where the economy is booming to help balance the loss of demand in the United States. With a dollar going a lot further in Mexico than it does in the US having a plant there would be more beneficial than exporting their goods from the United States. Using the same weakness Herman Miller could break into the rise of senior housing demand. Even with the economy being in a recession there are still customers that want your product it’s just a matter of getting the contracts and, having the willingness to make a product that suits the customers’ needs and wants. Weaknesses and Threats Herman miller has some weaknesses and threats that a related the goal is to turn them into opportunities and strengths. Every company tries to do this and the successful companies are good at it. Herman Miller needs to use their strengths as a counter when they see a weakness or a threat arise. They have done a good job at it thus far and will continue to stay a profitable company in the future. How to cite Analysis Swot Tows and Financial Herman Miller, Essay examples

Wolfgang Amadeus Mozart Essay Summary Example For Students

Wolfgang Amadeus Mozart Essay Summary Wolfgang Amadeus Mozart (1756-1791)Wolfgang Amadeus Mozart was born in Salzburg in Austria, the son of Leopold, Kapellmeister to the Prince-Archbishop ofSalzburg. By the age of three he could play the piano, and he was composing by the time he was five; minuets from this periodshow remarkable understanding of form. Mozarts elder sister Maria Anna (best known as Nannerl) was also a gifted keyboardplayer, and in 1762 their father took the two prodigies on a short performing tour, of the courts at Vienna and Munich. Encouraged by their reception, they embarked the next year on a longer tour, including two weeks at Versailles, where thechildren enchanted Louis XV. In 1764 they arrived in London. Here Mozart wrote his first three symphonies, under theinfluence of Johann Christian Bach, youngest son of Johann Sebastian, who lived in the city. After their return to Salzburg therefollowed three trips to Italy between 1769 and 1773. In Rome Mozart heard a performance of Allegris Misere; the score ofthis work was closely guarded, but Mozart managed to transcribe the music almost perfectly from memory. On Mozarts firstvisit to Milan, his opera Mitridate, r di Ponto was successfully produced, followed on a subsequent visit by Lucia Silla. Thelatter showed signs of the rich, full orchestration that characterizes his later operas. A trip to Vienna in 1773 failed to produce the court appointment that both Mozart and his father wished for him, but didintroduce Mozart to the influence of Haydn, whose Sturm und Drang string quartets (Opus 20) had recently been published. The influence is clear in Mozarts six string quartets, K168-173, and in his Symphony in G minor, K183. Another trip in searchof patronage ended less happily. Accompanied by his mother, Mozart left Salzburg in 1777, travelling through Mannheim toParis. But in July 1778 his mother died. Nor was the trip a professional success: no longer able to pass for a prodigy, Mozartsreception there was muted and hopes of a job came nothing. Back in Salzburg Mozart worked for two years as a church organist for the new archbishop. His employer was less kindlydisposed to the Mozart family than his predecessor had been, but the composer nonetheless produced some of his earliestmasterpieces. The famous Sinfonia concertante for violin, violo and orchestra was written in 1780, and the following yearMozarts first great stage work, the opera Idomeneo, was produced in Munich, where Mozart also wrote his Serenade for 13wind instruments, K361. On his return from Munich, however, the hostility brewing between him and the archbishop came to ahead, and Mozart resigned. On delivering his resignation he was verbally abused and eventually, physically ejected from thearchbishops residence. Without patronage, Mozart was forced to confront the perils of a freelance existence. Initially his efforts met with some success. He took up residence in Vienna and in 1782 his opera Die Entfhrung aus dem Serail (The abdication from the Seraglio) wasproduced in the city and rapturously received. The same year in Viennas St Stephens Cathedral Mozart married ConstanzeWeber. Soon afterwards he initiated a series of subscription concerts at which he performed his piano concertos andimprovised at the keyboard. Most of Mozarts great piano concertos were written for these concerts, including those in C,K467, A, K488 and C minor, K491. In these concertos Mozart brought to the genre a unity and diversity it had not hadbefore, combining bold symphonic richness with passages of subtle delicacy. In 1758 Mozart dedicated to Haydn the six string quartets that now bear Haydns name. Including in this group are the quartetsknown as the Hunt, which make use of hunting calls, and the Dissonance, which opens with an eerie succession of dissonantchords. Overwhelmed by their quality, Haydn confessed to Leopold Mozart, Before God and as an honest man I tell you thatyour son is the greatest composer known to me either in person or by name. The pieces are matched in excellence in Mozartschamber music output only by his String Quintets, outstanding among which are those in C, K515, G minor, K516 and D,K593. Critical Thinking EssayWhat sort of person was Constanze Weber?Mozart, who nicknamed his bride Stanzerl,described her this way, She is not ugly, but at thesame time, far from beautiful. Her entire beautyconsists of two little black eyes and a nice figure. She isnt witty, but has enough common sense tomake her a good wife and mother . Sheunderstands housekeeping and has the kindestheart in the world. I love her and she loves me. . Constanze Mozarts life was far from easy. FromJune 1783 to July 1791, she bore six children. TheMozarts first child, Raimund Leopold, died at theage of two months of an intestinal cramp while hisparents were away on a visit to Salzburg. Theirthird, Johann Thomas Leopold, lived less than amonth, their fourth, Theresia, six months, and theirfifth, Anna Maria, only one hour. The Mozarts were left with only two surviving children, whomWolfgang barely had time to know. When he died, the eldest was seven years old, and theyounger only six months. After Mozarts death, Constanze met and evetually married Nikolaus vonNissen, an official in the Danish Embassy, and it was he who raised Mozarts sons. von Nissendied in 1826, and Constanze in 1842. The two boys led fairly uneventful lives. The elder, Karl Thomas (b. 1784), ended up as a minorofficial on the staff of the viceroy of Naples in Milan. He died in 1858. The younger, Franz XaverWolfgang, inherited his fathers musical inclinations, if not all of his talent. He composed andconducted extensively throught Europe, but perhaps the last word on this Wolfgang AmadeusMozart the Younger was best spoken by George Bernard Shaw in a letter he wrote in 1897. Doyou remember the obscurity of Mozarts son? An amiable man, a clever musician, an excellentplayer, but hopelessly extinguished by his fathers reputation. How could any man do what wasexpected from Mozarts son? Not Mozart himself even.Wolfgang and his father, Leopold had never regained the closeness they had shared in earlier days,but they reached a peace with each other, and maintained a steady corresponence. Leopold diedin Salzburg on May 28, 1787, at the age of 67. Wolfgang had news of his fathers illness in April,at which t ime Constanze was ailing as well. This turn of events left him greatly depressed, and hisown health took a turn for the worse. His music from the preceding decade was only sporadicallypopular, and he eventually fell back on his teaching jobs and on the charity of friends to make endsmeet. In 1788 he stopped performing in public, preferring to compose. Mozart may have died of a number of illnesses. The official diagnosis was miliary fever, but thetruth is that the physicians who attended him were never quite sure what Mozart died of. Hesuffered from rheumatic pain, headaches, toothaches, skin eruptions, and lethargy. A commontheory today is that Mozart died of uremia following chronic kidney disease. Another possibility isrheumatic fever. Regardless of the cause, Mozart became bedridden for the last two weeks of hislife. He died at shortly after midnight on December 5th, 1791, aged thirty-five years, elevenmonths, and nine days. Mozarts legacy is incestimalbe. A master of every form in which he worked, he set standards of excellence that have inspiredgenerations of composers. Some of his representative worksSymphonies Nos. 25, 29, 38, 39, 40 41 JupiterPiano Concertos Nos. 19, 20 ; 27sinfonia concertante for violin and violaString Quartets: the Hunt, the DissonanceString Quintet No.4 in G minor, K516Le Nozze di Figaro

Social welfare policy that facilitates reduction of poverty and inequality in US

Introduction In the past two decades, the international community has made poverty eradication as their number one priority. Over a decade ago, Breton wood institutions came up with an objective of minimizing cases of income – poverty in less developed countries from over 30% to less than 15% by 2015 (Bourguignon 2).Advertising We will write a custom essay sample on Social welfare policy that facilitates reduction of poverty and inequality in US specifically for you for only $16.05 $11/page Learn More Escalation in global poverty has led to emergence, fusion, and dispensation of new economic models which focuses on economic stability, liberalization, privatization of public institutions, and exploration of market solutions in supplying public goods. These approaches marked the era of policy making in both developed and developing nations in their effort to promoting living standards of the poor nations and the eradication of poverty globally (Bour guignon 3). Most studies investigating inequalities between countries assume all citizens from these nations have similar mean income. Most of these studies suggests that majority of the Asian countries grew first towards the mean income while the rest of developing nations are moving further away (Glazer 3). These studies show that the income of the richest members of the population which constitutes of about 20% has rose to over 80%. Therefore, the increasing global inequality has been a constant feature over the past three decades, with a noticeable scenario from 80s to date and there is diminutive evidence that this condition will change (Glazer 4). With exclusion of china, the reduction of inequality in the global arena has not been realized since 1975. Since the end of 70s, US have experienced spectacular increase in economic inequality. United States is considered to be the most unequal nation among the world richest economies. In spite of the scale of the increase in the ine quality, the political class in the US rarely discusses this subject in the public. Throughout the history of the United States of America, its populace has struggled considerably with the paradox of poverty amidst riches (Weil and Kenneth 2). This has left many people wondering why a nation endowed with such magnitude of wealth still witness its own citizens struggle while there are enormous opportunities and excellent economy. Are the poor to be to be blamed or they are just victims of social inequality dogged with racism and bigotry, or economic system that favors the affluent over the struggling population? The paradox of the American poverty runs down to a long time and the only news is the amount of public policy concentration aimed towards the poor. A lot of attention is being paid now than before and one of the major reasons for this is the restructuring of the welfare system.Advertising Looking for essay on business economics? Let's see if we can help you! Get your fi rst paper with 15% OFF Learn More The American income safeguarding system is categorized into two based on their relationship with the workers; one of the category is the social security which includes unemployment compensation program, disability insurance among others which is linked to the payroll deduction or contributions from the income to the public programs. The other category is the social welfare programs whose suitability is centered on the welfare earning and accumulated affluence. Welfare programs are mostly for the needy and the poor people in the society (Glazer 3). Personal Responsibility and Work opportunity Reconciliation Act (PRWORA) of 1996 led to the overhaul of the welfare system. One of the major reform programs was the Aid to Families with Dependent Children (AFDC). This program offered cash incentives to the families which had children but earned low income (Weil and Kenneth 4-5). There were other legislations that sought to terminate all of the abo ve government programs that assisted the low-income earners/ the poor by encouraging self-reliance and personal responsibility. PRWORA put in place stringent measures that limited the cash assistance, enforced work requirements, and promoted matrimony and nuclear family as a basis for raising children (Trattner 6). Welfare reforms in the US have been a big achievement, in any case by considering the reduction in the welfare problems. The number of families that got assistance from the welfare programs decreased by more than half between the year 1994 and the year 2000. By the year 2000, only 2.1% of the US populace was receiving support from the government welfare program known as the Temporary Assistance for the Needy Family program (TANF). Successes of these programs were promoted by the flourishing economy at that time. This welfare programs helped in poverty caseloads reduction even in the single families with women as the head. The year 2002 saw the re-authorization of the welf are reform bill as a result of the protests from the poverty and welfare rights group. The right group argued that PRWORA placed a lot of focus on minimizing caseloads instead of prioritizing poverty reduction (Glazer 3). Statistics of the poor Americans According to the studies carried out in the year 2000 it was established that the poor Americans constituted of about 11% of the population. This study was carried by the US office of management and Budget. This was the lowest rate since 70s and only 4.4% lived below the poverty line.Advertising We will write a custom essay sample on Social welfare policy that facilitates reduction of poverty and inequality in US specifically for you for only $16.05 $11/page Learn More There is diminutive evidence to support the critics who opposes PRWORA claiming that it has impoverished the populace more. In a matter of fact, the average income of the American families within the bracket of bottom 20% increased from 1 2600 dollars to over 14000 dollars. The growing incomes among the poor and the rich reinforced the euphoria over the improving economy and authenticating claims that welfare reform was successful (Glazer 3). Activists representing the poor argue that income benchmark used by the federal government to measure poverty was too low to cover the basic needs. In the year 2000, single mothers with two children required only 14000 dollars to be counted out of the poor population while a nuclear family with two children required 17500 dollars. In contrast, the median income for the American families was approximately 51000 dollars. Analyst argues that personal income at or above the economic poverty income threshold cannot support an individual in the world biggest cities like London, Washington D.C, among others since housing is beyond their reach (Bourguignon 2). Considerable difference in living costs in different geographical regions forms the basis for criticism against a single nationa l income standard for defining poverty. Other limitations on the official definition of poverty are its failure to account for other source of income or support such as food stamps (Trattner 6). Child poverty rates dropped by almost 20% in the early 1990s to the year 2006 according to the national survey carried out in 2007. About 11.5 million children and 3.4 million adults of age 65 and above live in poverty making almost half of the poor population in America. Children and elderly persons are considered as eligible poor who deserves state’s assistance. They cannot be held responsible for their poor status. America’s racial minorities still constitute the poorest in the American society (Glazer 3). The racial structure and composition of the poor Americans have not changed over the past ten years. In early 90s, 50% of the poor populations were non-Hispanic white. This figure went down by 3% in the year 2000 to 47%. America’s increasing racial diversity has tak en place at the same time with the waning poverty rates across racial and ethnic minority groups. Between 1990 to date poverty, rates have gone down from 28% to 19% among the Hispanic, and from 12% to 10% among Asian and Islanders.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Reduction in poverty rates dropped steeply among the African American from about 40% in the year 1990 to about 20% in the year 2006. However, poverty rates among the African American and the Hispanics is still about twice the national average (Trattner 7). Wage inequality between male and female have persisted coupled with the escalation in single motherhood. This has underpinned the perception that the growing poor Americans are women (Bourguignon 2). In the year 2000, the poverty among women was 25% higher than men and this gender difference has remained constant over the years. The sex difference has persisted despite of the increasing female employment rate, increase in income and reducing wage difference between male and females (Trattner 6). About half of the America’s poor families are headed by women although families headed by women only represent quarter of the all families with children. In the year 2000, the rate of poor families headed by women was six times high er than the rate for married couple (Trattner 6). After the enactment of the PRWORA, this rate started to decline from 47% to nearly 30%. The main goal for this welfare program was to encourage work and economic self-reliance among the poor particularly among the unwed mothers with children. Therefore, welfare reforms forced large percentage of female beneficiaries into the labor force. Although employment does not protect an individual from poverty, people who area employed are likely to be less poor (Glazer 3). The personal Responsibility and Work Opportunity Reconciliation Act (PRWORA) The personal Responsibility and Work Opportunity Reconciliation Act was signed by President Clinton in 1996 into law to fulfill his promise of ending the welfare problems facing the poor Americans at that time. This law transformed the entire national welfare system both substantially and administratively. This law also eliminated the previous welfare system which had been advocated against by peop le from all walks of life since it was increasing state expenditure while leaving the poor on the mercy of the government donations (Caraley 5). The main purpose for the introduction of personal Responsibility and Work Opportunity Reconciliation Act was to minimize over dependence on welfare, bringing forth children out of wedlock and promoting nuclear type of families. In line wit the above preconditions, the act required that the beneficiaries to look for job opportunities within two years of receiving support, and placed a five-year limit on the lifetime a person should be entitled to these benefits. In addition, the act (Weil and Kenneth 7) Brief history of the law PRWORA eradicated the previous welfare program known as the AFDC (Aid to Families with Dependent Children) which was enacted in 1935 following the great depression that engulfed the US and the global financial arena. AFDC welfare benefits were based on eligibility. This means that families who met their conditions wer e entitle to the benefits for as long as they needed it. In addition, the federal share of the AFDC funds fluctuated in accordance with the caseloads. At first people saw the program as a helping hand to the justified widows as it helped them to raise their children. On the other hand, critics felt that this program encouraged dependency among the escalating class of single mothers, besides creating inflated and incompetent bureaucracy (Weil and Kenneth 9). In 1970s large number of women started joining the workforce as the Americans started becoming hungry at the single mothers whom they viewed as undeserving the benefits of the program. Besides, the welfare beneficiaries stated to grow at an alarming rate thus increasing the cost of the program. Racial subjects also played a big part in the switch as the African-American women became stereotyped as welfare mothers (Weil and Kenneth 7). The US government in the year 1980s, started to issue waivers to the to some of its states that considered to test their own welfare programs. Some of these states enforced work obligations and limited time for receiving benefits thus tried to transform the behavior of the beneficiaries by granting or denying benefits inline rules set in their programs. Some of the American conservatives also argued that the welfare programs increase d poverty instead of reducing it since many people became over-dependent on the program (Bourguignon 8). When President Clinton was elected he continued to support states that wanted to test their own social welfare programs to replace the then entitlement program.However, when the republicans won the majority sits in congress in 1994, they proposed a plan to introduce their own principals into the welfare program. This pressurized President Clinton to pass a considerable welfare restructuring legislation so as to demonstrate his record as a moderate politician (Bourguignon 9). However, President Clinton rejected two republican welfare-restructuri ng bills in the year 1995 that he felt were too inconsiderate. In the year 1996, both the republicans and the democrats were under pressure to conclude the welfare reform agenda before the forthcoming general election. As a compromised bill, congress submitted PRWORA to the president who signed it into law despite of his doubts over certain clauses. A number of high-level officials resigned to protest the signing of the bill arguing that the bill would cause escalation of poverty and inequality during recession (Weil and Kenneth 7). Main provisions of the personal Responsibility and Work Opportunity Reconciliation Act The act creates Temporary Assistance for the Needy families (TSNF). TANF substitutes previous eligibility program for instance Aid to Families with Dependent Children. The act devolves responsibility of welfare programs from federal government to the state/ local governments and non-profit making private organizations. The act uses time restrictions and work conditions to stress the move from welfare to work. The law stiffens entitlement standards for Supplementary Security Income (SSI) child disability benefits. The act also requires state to impose strict child maintenance programs for collecting child funds from the absent fathers (Weil and Kenneth 5). This act restricts entitlement and other public benefits to the newly immigrants. The act also denies illegal immigrants most of the benefits except under emergency cases. The state is required to provide federal cash support to the legal migrants in the country and to use government funds to assist immigrants not entitled to federal funds. PRWORA provides funds for foster care data system and national child welfare custody research. The law provides for unit fund to enable states to offer childcare for the working parents. The act transforms entitlement criteria and benefits for child nutritional programs. The law has put forth strict standards for food stamps and other benefits. PRWORA minimiz es benefit level and refutes most benefits to able persons unless they are working or in school. Finally, the law limits entitlement for TANF beneficiaries. The law sets up five-year deadline for beneficiaries and deters persons convicted of drug related crimes from accessing this program in their lifetime (Weil and Kenneth 7). Assessing Personal Responsibility and Work Opportunity Reconciliation Act (PRWORA) Before the enactment of the bill, the number of people under the welfare program had already fallen. This number continued to fall significantly after signing of the bill into law. Between the period when the bill was signed and the year 2000, the figure of the people under the welfare program went down by almost half, even though caseloads in majority of the states started to go up again by 2001 and continued to vary moderately. Besides, the rate of poverty fell to the lowest recorded level of 19% from 22% in 1994, though this rate never went down remarkably as the figure of t he beneficiaries (Trattner 14). In spite of the encouraging figures, the welfare of those under the PRWORA program was never clear. By the end of 2002, many people who were former beneficiary of the welfare program were by then working low paying jobs with minimal benefits. These people were no longer granted food stamps or medical cover even in cases where they were eligible. In most cases, the underpaying job opportunity for the poor meant loss of the benefits from the welfare program. Majority of the former beneficiaries thus lingered beneath the poverty line. Almost half of the former beneficiaries who left the program in search of jobs went back within a year since they were not able to access jobs or consistent child care (Trattner 15). In addition, almost half of the people who left the welfare program did not have jobs or were not working at all. Some of these people got discouraged from applying for the program; majority had their benefits cut trimmed down or terminated by failing to meet the required threshold while others just vanished from the system (Carale 2). Majority of the beneficiaries of the former welfare program (TANF) had considerable obstacles for employment including illiteracy, health problems, and drug / alcohol problems among others. Even though PRWORA provided no apparent policy guidelines to assist these people overcome such obstacles, beneficiaries faced set time deadline on assistance (Weil and Kenneth 9). Lawful Challenges that pretentious the personal accountability and Work Opportunity Reconciliation Act PRWORA brought about a welfare system which was triggered by the level of reforms, though its execution was met by several challenges of the law. Supreme Court ruled against the lesser benefits that was being accorded to the citizens who were moving from state to state since it violated their right of movement. In addition, there were cases of successful petition against the unjust Welfare officers who were mistreating the ben eficiaries. These cases revolved around those officers who were trying to discourage the needy from applying for help, denying them access to the program or giving them unfair hearing in cases where they violated the law. (Weil and Kenneth 10). Nevertheless, some of these court petitions never bared fruit. Examples of such cases include incidences where the applicants tested positive for illegal drugs which is against the law. Other legal challenges have focused on the aid organizations of choice. The law requires the state to include religious organizations when contracting out welfare administration (Trattner 25). The reorganization of the PRWORA It was back in the year 2002 in the month of October when PRWORA mandate expired, but was later on reauthorized by the congress. Within the same year, President Bush increased the working hours for the employees under the program. In addition, President Bush laid down a plan to increase the number of beneficiaries in the work force from 5 0% to70% before the end of his term. The president also offered to finance state programs that encouraged marriage and unmarried adolescent from engaging in premarital sex. The president’s proposals were passed in May the same year (Trattner 5). June 2002 saw the senate finance committee passing a more accommodative bill that raised childcare funds, widened the description of work activities, and allowed state to provide welfare benefits to the legal immigrants. On the other hand, the senate refused to pass the bill. Being unable to reach a compromising ground on the same subject, the Congress passed an abiding resolution to retain TANF until 2003 thus leaving the bill to the subsequent congress (Caraley 5). Conclusion United States is considered to be the world richest economy ad has the greatest share of money in the international monetary fund. With all that wealth it is unbelievable to realize that some of the American citizens still live in poverty. This is a paradox sin ce the median income of the Americans is about 59,000 dollars. This inequality led to a number of social welfare programs to help the poor and the needy. These efforts started in the late 30s following the great depression but the turning point in the America’s welfare reforms took place when President Clinton signed personal Responsibility and Work Opportunity Reconciliation Act into law in the year 1996. This was a major milestone in the quest for welfare reforms although the act also had some loopholes. The rate of the poor Americans have dropped significantly since the introduction of the bill. Work Cited Bourguignon, Francois. The Poverty-Growth-Inequality Triangle. Washington D.C: World Bank, 2004. Print Caraley, Demetrios James. Ending Welfare As We Know It: A Reform Still in Progress. Political Science Quarterly 116, no. 4 (2001): 525. Glazer, Sarah, Are Former Welfare Recipients Better Off Today? CQ Researcher 11, no. 27 (Aug. 2001). Trattner, Walter. From Poor Law t o Welfare State: A History of Social Welfare in America. 6th ed. New York: Free Press, 1999. Weil, Alan and Kenneth, Finegold. Welfare Reform: The Next Act. Washington, DC: Urban Institute Press, 2002. Print. This essay on Social welfare policy that facilitates reduction of poverty and inequality in US was written and submitted by user Sister Grimm to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

The Realistic Hero Essays - English-language Films, Free Essays

The Realistic Hero Essays - English-language Films, Free Essays The Realistic Hero Tom Sawyer, the main character of The Adventures of Tom Sawyer, written by Mark Twain, is an average boy who is bored with his civilized life and escapes these constraints by pulling pranks, and pulling other mischievous things. The character of Tom, in the most part, is presented as a realistic and convincing boy. He is kind and loving, but also cruel, stupid, and hypocritical of others at times, as well as, he shows maturation throught the story. The story of Tom Sawyer,as well as being about a realistic character, is a story that is intrusive to adults and children. Tom is shown throughout the story as a typical boy of his time and place. He has a loving, happy home, with his devoted Aunt Polly to care for him. He is mostly restricted by his home routine of prayers, meals, chores, bedtime, and things like that, but when his routine life gets to dull, he has the nearby river and woods, where he can go to escape. Though Tom is not " the model boy" of the village, he even hates the "model boy." He plays boyish pranks on Aunt Polly, Sid, his friends, and everyone in town. He steals, lies, plays hooky, fights, and goes swimming secretly, but he is a normal boy and this is what normal boys do at his age. Tom is a clever, imaginative boy who has a good knowledge about human nature and knows how to use it. He continually outwits his Aunt Polly, and also persuades other boys to do his work for him without them even knowing of his trickery. One example of this is in the whitewashing scene, when his Aunt Polly makes him whitewash the outside fence before he is allowed to play. He slyly conviences the first boy by saying "...I don't see why oughtn't like it. Does a boy get a chance to whitewash a fence everyday?" (21) With this cunning use of words he manipulates the boy to whitewash the fence, which leads to others also joining in to help. In the end, Tom has made a tidy profit as well as got the whitewashing done without actually doing it. As well as Tom being known as a strong boy, he also has fears. He is afraid, at various times in the book, of being harmed by Injun Joe, starving to death with Becky in the cave, of witchcraft, and of death during the thunderstorm when he is ill with the measles. Some of his fears are based on real dangers, such as with Injun Joe. Others are just simply fears in his mind. Partly by luck and partly by using his mind and courage, Tom is able to eventually triumph over his fears. Tom , who is usually a spirited guy, sometimes goes off by himself to be alone and think about his death. Ususally these dark moods only last a very short time, then he is back to his rowdy self. For example, after being rejected by Becky, he goes off into his comforting woods and thinks about ways to get back at her, and even thinks about running away. Though he gets into these moods occasionally, a quick visit from his friends he totally forgets his depressed mood, and resorts back to his spirited self. Although Tom likes to rebel against society and its restrictions, he is basically respectable. He is the nephew of a woman who is the soul of suitability and who is instilled him with these values. When Tom calculates his pranks and adventures in term's of society's reactions. At the end of the story, he even persuades his best friend Huck, who is an outcast in the town, to become "respectable" by telling him "Well, everybody does that way, Huck." (243) Tom also conviences Huck to "be respectable" by telling him he won't let him join his robber gang " if you ain't respectable." Also another aspect of Tom that is realistic is how he grows throught the story. Tom starts out acting childish and irresponsible and ends up acting more mature and responsible. The story of Muff Potter begins with Tom and Huck going to a graveyard to try

Independent Research Essay Example | Topics and Well Written Essays - 3500 words

Independent Research - Essay Example . . Before the constitutional monarchy in 1931 (Kiriwat 2001), all theatre Khon, or masked dance drama was for palace performances only. Khon is still part of an elite group of the Thai National Theatre. Their performances are only related to the Rhamakayian. Lakon Nai also dealing with the Rhamakayian, was intended to be danced only by women who can do the complicated hand and finger movement. They are both very much part of the Thai culture. This is a study to present a short history of the origins of Rhamakayian and its importance in Thai Culture. The study will show how the royal family changed Rhamakayian from the original Ramayana developing two distinct dance styles which began centuries ago. King Rama I and King Rama II standardized the dance forms . This classical dance of today still has ancient origins. It style is old fashioned and no longer appeals to modern audience. It will be shown why the perception of the audience is no longer met. An audience is determined by the t ype of performance . Their needs and expectations will be shown in order to how what companies can do today, to bring the universal aspect of Rhamakayian back to the dance and drama without losing this beautiful Thai Epic. To conclude, the study will have shown that the use of an ancient subject is universal and its dance and drama can be brought up to the expectations of today's audience. The Origins of Ramakien from the original Ramayana Ramayana is a "timeless tale", which originated in ancient India. India was considered the centre of the world. The epic consists of 18 books covering every significant and insignificant aspect of human nature and character. The epic, though adapted to each individual country's culture and standards, has traversed all of Asia. It is so ingrained in the culture of the Asian world that it is compulsory in University and some lower education. In Indonesia, students are quoted as saying "Islam is our Religion but Ramayan is our Culture". (Kumar 2007) The Way of the Ram as Ram was a God who left his children , Lav and Kush to travel the world. This epic is universal to all as it covers the nine sentiments known to man. Each and every situation in a person's life is covered in the epic. So that the reader might get an excellent feel of the importance of Ramayana on the development of Rakayian. Expressing feeling are used in movement as they show the power of the sentiments in dramatic art. As it will be explained in the psychology of the audience are the Rasas expressed to the people in the hall? Love: between Sita and Rama Valor : Shiva's bow was broken when it was being restrung Pathos: Kakasura's feelings when he surrendered Suprise: the bridge over the ocean Humour: Shoorpanakha going to Rama Terror and Disgust: battlefield Fury: Killing Ravana Peace: Interaction with the sages. All of Asia was influenced by the story. "Ramanama is for the pure in heart and for those who want to attain purity and remain pure.' Mahatma Gandi". (Kumar 2007,page 4) The progression from Ramahaya to Ramakian was done in stages. The first Ramakian version came to Siam in the 14th century. In the 18th century there was a great fire which destroyed all existing written versions of the epic. The most modern version comes from King Rama I who in the 18th century saw the importance of cataloguing and sequencing the whole epic. He added his own writing where he had to complete the storyline. In Thailand, Ramakien changes in context but the story stays the same; the

Human Resource Development Essay Example | Topics and Well Written Essays - 750 words

Human Resource Development - Essay Example Human Resource Development (HRD) can also take an informal shape for example employees being coached by a manager. Healthy organizations, in meaningful terms, have strong faith in Human Resource Development and cover all its fundamental aspects. Learning and development is continuous process in every aspect whether it's in organizational or in classroom, people or an employee always learn something new in every area which will help in developing its skills and knowledge which also support him/her to work better in an organization or any other working condition. Ans. In my opinion learning is a continuous process and person will always learn on every stage of life. According to me learning will be more practical to gain an effective skills, knowledge, and motivation by developing the vision and skills that result in real team commitment; Build and lead empowered and motivated teams; Delegate tasks and authority while maintaining control, communicate effectively at all levels, create w orld-class team performance, Become a skilled and effective team leader. Ans. 2.Needs and performance are the main factors to improve learning. Discus this issue in relation to E-learning method to learn. Ans. Learning is a phenomenon within this definition that takes place across various locations, or that reaps benefits of learning opportunities provided by moveable technologies. In other words, E-learning decreases limitation of learning location with the mobility of general portable devices. The term covers: learning with portable technologies, where the focus is on the technology (which could be in a fixed location, such as a classroom).in today's world technology places very positive and effective role in several sectors and in different aspects such as in performance and needs as well. This technology will help in effective learning in every person's life because it's really fast and effective and the person can learn everything very easily and work can be done efficiently af ter effective learning in relation to E- learning. 3. State the main problem, objective that this university applied this teaching method. Ans. Arab Open University runs degree programs in the Middle Eastern country by providing open learning business studies. The lecturers adopt an action learning approach to teaching during their periodic time to students. However, resistance to this method is regularly experienced.

Strategic Organizational Leadership in Capstone Paper

Strategic Organizational Leadership in Capstone Paper Overview Chrysler Group LLC is the third largest American Automobile manufacturer and fifth largest in the American market with an 8.79% market share on sales of 931,402 units. (Chrysler, 2010) The Chrysler Group LLC was created in 2009 through a 20% purchase of Chrysler LLC by The Fiat Group. The Chrysler Group LLC consists of Chrysler, Jeep, Ram, Dodge, Mopar and Global Electric Motorcars (GEM) brands of vehicles and parts. The recent alliance between the Fiat Group and Chrysler Group LLC is said to better position both companies in the global market (Chrysler, 2010). Chrysler Group LLC dates date to 1925 when it was founded by Walter Chrysler. The original Chrysler Corporation merged with Daimler-Benz in 1996 to form Daimler-Chrysler. In 2007 the Chrysler division of Daimler-Chrysler was purchased by Cerberus Capital Management to form Chrysler LLC, the precursor to the current Chrysler Group LLC. Fiat Group was started in 1899. Both companies have a unique history of innovative and storied products (Chrysler, 2010). Having survived a brief Chapter 11 bankruptcy reorganization in 2009, the company position is positioning itself for an automotive resurrection by choosing a back-to-basics alliance with Fiat. The collaboration gives Chrysler access to the Italian companys small-car expertise and global markets, while still manufacturing its Chrysler brands, including Dodge, Jeep, and Ram vehicles. Chryslers trademarked MOPAR (MOtor PARts) division, with its 30% market share, carries over 280,000 parts, options, and accessories for vehicle customization; it expanding to incorporate Fiat parts. Chryslers GEM (Global Electric Motor Cars) makes neighborhood electric vehicles (NEVs). Headquartered in Auburn Hills, Mich., Chrysler Group LLCs product lineup features some of the worlds most recognizable vehicles models, including the Chrysler 300, Jeep Wrangler and Ram Truck. Fiat will contribute world-class technology, platforms and powertrains for small- and medium-sized cars, allowing Chrysler Group to offer an expanded product line including environmentally friendly vehicles. History In 1920, the president of Buick and Vice President of General Motors (GM) resigned his positions in the GM Corporation following political differences with founder and then-president of General Motors William Durant. This former automotive Vice President was promptly approached by a group of investors to focus his business acumen in the fledgling automotive industry on a small, financially troubled New York company called Maxwell Motor Corporation. The one-time automotive vice president was installed as president of Maxwell Motor Company (Hyde, 2003). The mans name was Walter Percy Chrysler. In short order, Walter Chrysler brought the Maxwell Motor Corporation out of bankruptcy. The financial improvement was due in large part to Mr. Chrysler introducing a new Maxwell model- the Chrysler Six (Hyde, 2003). This car was very well received by the automobile buying public and went on to sell 32,000 units in its first year, generating a profit of over $4 million for the small company. On the heels of the success of the Chrysler Six, Walter Chrysler changed the name of the Maxwell Motor Corporation to the Chrysler Corporation. Capitalizing on the success of the initial Chrysler model, Walter Chrysler introduced 4 additional Chrysler models know as the Chrysler 50, the Chrysler 60 the Chrysler 70 and the Chrysler Imperial 80. Interestingly the model numbers were derived from the top speed of these new vehicles as gauged on level ground. As a point of reference, Fords Model T was, until the introduction of the new Chrysler models, the fastest road car with a top speed of 35mph. I t was these new Chrysler models that caused Henry Ford to notoriously shut the doors of the Ford Motor Company for nine months to create a replacement for the Model T. By the time Ford closed its doors to redesign its offering, Chrysler had established itself as formidable competition. With sales of 192,000 of these new models, Chrysler officially became the fifth largest automobile manufacturing company in the industry (Hyde, 2003). Walter Chrysler determined that to achieve the greatest manufacturing cost efficiency, he would have to build his own plants to produce the various parts needed for his vehicles. The capital expenditure required to do this was estimated at $75 million. While successful, the Chrysler Corporation could not afford this capital expense and so Walter Chrysler contacted the banking firm of Dillon Read and Company in New York; a firm that fatefully had just purchased the Dodge Corporation from the widows of the late Dodge Brothers. Dillon Read and Company was eager to do business with the well known Chrysler Corporation. As part of the arrangement, the Dodge Corporation became a division of the Chrysler Corporation. This merger effectively increased the size of the Chrysler Corporation fivefold. Shortly after the merger, the Chrysler Corporation unveiled its new, low cost Plymouth and Desoto models. In a reversal of strategy, Walter Chrysler ended his drive to bring all manufacturing in-house. He was wise to see that the speed with which the automotive industry was growing demanded greater flexibility that in-house manufacturing could provide. Outsourcing automobile components was more expensive but allowed for greater flexibility and a more rapid development cycle in designing new models. In this same period, Walter Chrysler made research and development a budgetary priority. Research and Development persevered at the presidency of Chrysler was This foresight allowed Chrysler to weather the Great Depression and emerge in a more sound financial position than many others in the automotive industry (Curcio, 2000) In 1931, Joseph E. Fields assumed the presidency of Chrysler from Walter Chrysler and in 1936 Walter Chrysler fully handed of the daily operation of the company. At the beginning of the 1940s the Chrysler Corporation, along with most other large American manufacturers switched to wartime production. The Chrysler Corporations Dodge, Plymouth and Chrysler models were put on hold while the company contributed to the production of wartime necessities including small ammunition, submarine nets and, perhaps most notably, B-29 bomber engines (Hyde, 2003). As American industry adjusted to post-war production needs, the Chrysler Corporation started to falter and performance began to wane. The vivacity and forward momentum that Walter Chrysler imparted to the company were no longer present. After the automotive technology boom of the 20s and 30s, the rate of innovate in the industry began to slow. Post-war Americas tastes began to change toward streamlined, nontraditional models and, at times, at the expense of reliability and built quality (Hyde, 2003). To some extent, flashy advertising was influencing buying decision more than quality, features and nameplate. Chrysler was detrimentally slow to react to this new America. In 1950, a long-time legal counsel for the Chrysler Corporation by the name of L. L. Colbert became president. He immediately took the reins of the company to institute managerial reforms with the help of a professional management consulting firm. Colbert concentrated on three areas; expanding into international markets, centralizing corporate management and refocusing the engineering department on innovation. Despite his decisive changes, Colberts efforts did little to improve Chryslers position in the industry. In two short years, Colbert was replaced as head of Chrysler by Lynn Townsend. In charge of the struggling company, Townsend proved to be more successful in his revival attempt. He sold, closed or otherwise divested of unproductive manufacturing facilities and downsized the labor force thereby improving efficiency. He purchased a single early model IBM computer which helped workforce reduction efforts by eliminating the need for almost 800 employees. The early 1950s saw the dawn of Total Quality Management Theory lead by pioneers in the field including W. E. Deming and A. V. Feigenbaum (Kreitner, 2007). Townsend seemed to take notice of this movement as his most notable achievement was a focused quality improvement effort that did boost sales and allowed Chrysler to offer a warranty unprecedented in the industry thus far. To further the momentum,. Townsend undertook an aggressive marketing campaign touting the new, improved quality of Chrysler vehicles. Where Colbert had failed, Townsend succeeded; Chrysler was again a stable, financially healthy and expanding corporation. As might be expected, with this new success came growth. In the midst of the American space age of the 1960s, Chrysler expanded to include an aerospace division and became a principal subcontractor for NASAs Saturn rocket program. Townsends consistent push to grow international business resulted in Chrysler plants in 19 countries by the end of the decade. At the onset of the 1970s, the American car market was feeling the effects of a rising consumer price index, increasing competition from foreign auto manufacturers, and the first signs of the crude oil crisis. In 1969, Chrysler reported losses of almost $5 million dollars and, with an infrastructure to support he growth of the 1960s, was operating at only 65% of capacity. Chrysler met this changing market climate with a product stable that included large, expensive, gas thirsty vehicles as well as smaller more economical cars. The company seemed more content to contend with the traditional American competition than to assess the changing market demand and consequently, Chrysler was faced with an excess inventory of the vehicles the market wasnt buying and a severe shortage of the vehicles the market was demanding. Despite significant price reductions to move its excess inventory, Chryslers financial fortune continued to slide. Chryslers presidency was assumed by John Riccardo. Ricardo, with an accounting background was intent on cutting operating costs. Total employment, payroll and individual budget area were affected by the cost cutting measures. This period also marks the first efforts to import and sell vehicles manufactured overseas. Chryslers shortsightedness with regard to market demand was not over. Despite the inconsistency between what the company was manufacturing and the market was demanding, Chrysler continued to make larger, less efficient models right into the Arab oil embargo. In 1974, Chrysler reported an unprecedented budget deficit of over $50 million. In 1975, the damage was five times as great at over $250 million in losses. The American auto market was severely impacted by several factors including inflation and the Arab oil embargo but Chryslers significant foreign interests were still showing a profit. This profit served to offset the domestic losses however, in 1978 Chrysler again reported losses of over $200 million. Riccardo continued to cut costs, consolidate the various divisions of the Chrysler Corporation and direct manufacturing efforts toward smaller, more efficient vehicles but the Chrysler Corporations financial health continued an unsustainable slide. Chrysler ended the 1970s on the brink of bankruptcy. The company was spared bankruptcy proceedings by federal intervention in the form of a $1.5 billion lifeline loan guarantee. This loan came with conditions including the requirement that Chrysler raise $2 billion in additional money on their own and they make significant management changes. This last requirement ended the tenure of J. J. Riccardo as president of Chrysler. Riccardo was replaced by charismatic industry veteran Lido Anthony Lee Iacocca. Where Riccardo was an accountant, Iacocca was adept at public relations and marketing. He employed these skills in communicating to both the workforce at the Chrysler Corporation and the public at large the need for federal intervention By the mid-1980s, the company was back on track and stronger than ever before. Chrysler benefited from the combined impacts of strong industry demand and shifting consumer preferences toward pickup trucks and minivans, products that dominated Chryslers lineup. By 1997, Chrysler reported annual sales of 2.9 million vehicles, record revenues of $61 billion, and record earnings of $2.8 billion. Chryslers year-end market capitalization was $22.8 billion and its US market share crossed over 16%. Chrysler had become one of the most profitable automotive companies in the world and had roughly $7.5 billion in cash on hand.2 Nick Colas, an analyst with Credit Suisse First Boston, declared: Chrysler has a better business model for building and selling cars than General Motors and Ford do.3 As profitable as Chrysler was, however, the company was not capitalizing on the growth of the global automotive industry. Since the company had made limited investments in overseas markets up to this point, finding a partner made the most strategic sense. On May 7, 1998, Chrysler merged with Daimler, the leading German luxury car manufacturer, for $36 billion of Daimler stock, the largest trans-Atlantic merger in history. The merger was orchestrated in order to create an efficient and lean automotive powerhouse that would better compete in the global marketplace. The transaction was reported as a merger of equals in the business press. The combined company would have a market capitalization close to $100 billion. In 1997, Daimler reported revenues of $62 billion and net income of $1.8 billion. Though Daimler was soundly profitable and had a strong foothold in the European market with its Daimler, Mercedes-Benz, and Smart Car brands, Daimlers US market share was less than 1%.4 Daimlers management hoped that Chrysler would give the company greater inroads into the lucrative US automotive market with its extensive dealership network and powerful brand name. During the early 1980s, Iacoccas skills as a superb television salesman were of crucial importance as Chrysler lost nearly $1.8 billion in 1980the largest loss ever for a U.S. companyand another $475 million in 1981, before returning to the black in 1982. In August 1983 Chrysler was able to pay off the government loan guarantees seven years early, with the government making a $350 million profit on its investment. Chryslers road to recovery was a difficult one, demanding the closure of several plants and the reduction of the companys workforce. Once restructured, Chrysler scrapped its plans to diversify and divested the Gulfstream Aerospace unit it had purchased five years earlier, selling it to a New York investment firm for $825 million in early 1990. Two other units in the companys Chrysler Technologies subsidiaryElectrospace Systems and Airborne Systemswere slated for divestiture as well, which underscored Iacoccas intent to create a leaner, more sharply focused company. Meanwhil e, there were two key developments in the 1980s that helped form the foundation for the 1990s resurgence: the introduction of the minivan in 1984 and the acquisition three years later of American Motors Corporation and its Jeep brand for $1.2 billion. Reorganized as such, Chrysler entered the 1990s braced for a full recovery, but the economy did not cooperate. The decline in automotive sales during the fourth quarter of 1989the companys first fourth quarter decline since 1982portended a more crippling slump to come, as an economic recession gripped businesses of all types, both domestically and abroad. Net income in 1990 slipped to $68 million, then plunged to a $795 million loss the following year, $411 million of which was attributable to losses incurred by the companys automotive operations. Mired in an economic downturn, Chrysler appeared destined for more of the same, rather than headed toward recovery as Iacocca had hoped, but part of the reason for 1991s losses also led to the companys first step toward genuine recovery. Partly to blame for the $795 million loss in 1991 were the high preproduction and introduction costs associated with Chryslers new Jeep Grand Cherokee and increased production costs at the companys St. Louis minivan plant. These two types of vehiclesminivans and sport utility vehiclesrepresented the key to Chryslers recovery. The popularity of these vehicles, coupled with significant price advantages over Japanese models, fueled Chryslers resurgence. In 1992, Chrysler turned its $795 million loss the year before into a $723 million gain. It was a signal achievement, accomplished in Iacoccas last year as CEO. Taking over during 1992 was Robert Eaton, who was hired away from GM, where he was head of European operations. Chrysler then went on to enjoy its most successful year ever, with 1994 earnings of $3.7 billion on revenues of $52.2 billion. The good news at Chrysler continued into the late 1990s, after the company managed to fend off a $22 billion buyout proposed by billionaire investor Kirk Kerkorian in 1995. The long prosperity and low gasoline prices of the middle to late 1990s created a huge demand for large vehicles, and Chrysler was producing hot models in each of the hottest segments: the Dodge Ram pickup truck; the Town Country minivan; and several sport utility vehiclesthe Jeep Grand Cherokee, the Jeep Wrangler, and the Dodge Durango. Questions about the quality of Chrysler products continued to pop up, but the companys share of the U.S. auto market reached as high as 16.7 percent in 1996, the highest level since 1968. In 1996, the year Chrysler moved into new headquarters in Auburn Hills, Michigan, sales reached $61.4 billion. The Creation and Early Years of DaimlerChrysler Daimler-Benz Chief Executive JÃ ¼rgen Schrempp had concluded as early as 1996 that his companys automotive operations needed a partner to compete in the increasingly globalized marketplace. Chryslers Eaton was drawing the same conclusion in 1997 based on two factors emerging around the same time: the Asian economic crisis, which was cutting into demand, and worldwide excess auto manufacturing capacity, which was looming and would inevitably lead to industry consolidation. With annual global overcapacity as high as 18.2 million vehicles predicted for the early 21st century, it became clearer that Daimler-Benz and Chrysler could survive as merely regional players if they continued to go it alone. After several months of negotiations, Daimler-Benz and Chrysler reached a merger agreement in May 1998 to create DaimlerChrysler AG in a $37 billion deal. The deal was consummated in November 1998, forming an auto behemoth with total revenues of $130 billion, factories in 34 countries on four continents, and combined annual unit sales of 4.4 million cars and trucks. The two companies fit well together geographically, Daimler strong in Europe and Chrysler in North America, and in terms of product lines, with Daimlers luxurious and high-quality passenger cars and Chryslers line of low-production-cost trucks, minivans, and sport utility vehicles. Although this was ostensibly a merger of equalsthe company set up co-headquarters in Stuttgart and Auburn Hills, naming Eaton and Schrempp co-chairmenit soon became clear that the Germans were taking over the Americans. DaimlerChrysler was set up as a German firm for tax and accounting purposes, and the early 2000 departures of Thomas Stallkamp , the initial head of DaimlerChryslers U.S. operations, and Eaton (who was originally slated to remain until as late as November 2001) left Schrempp in clear command of the company. During 1999 DaimlerChrysler concentrated on squeezing out $1.4 billion in annual cost savings from the integration of procurement and other functional departments. The company organized its automotive businesses into three divisions: Mercedes-Benz Passenger Cars/smart, the Chrysler Group, and Commercial Vehicles. In November 1999 DaimlerChrysler announced that it would begin phasing out the aging Plymouth brand. The Debis services division was merged with Chryslers services arm to form DaimlerChrysler Services, while DASA was renamed DaimlerChrysler Aerospace. Late in 1999 the company reached an agreement to merge DaimlerChrysler Aerospace with two other European aerospace firms, the French Aerospatiale Matra and the Spanish CASA, to form the European Aeronautic Defence and Space Company (EADS). DaimlerChrysler would hold a 30 percent stake in EADS, which would be the largest aerospace firm in Europe and the third largest in the world. In early 2000, DaimlerChrysler set the lofty goal of becoming the number one automaker in the world within three years. The companys most pressing needs were to bolster its presence in Asia, where less than 4 percent of the companys overall revenue was generated, and to gain a larger share of the small car market in Europe. Filling both of these bills was DaimlerChryslers purchase of a 34 percent stake in Mitsubishi Motors Corporation for $2 billion, a deal announced in late March. The company later increased its interest in Mitsubishi when it purchased a 3.3 percent stake from Volvo. In another key early 2000 development, DaimlerChrysler agreed to join with GM and Ford to create an Internet-based global business-to-business supplier exchange named Covisint. DaimlerChryslers lofty goal would remain unrealized however, as the company faced a host of challenges. The Chrysler Group division was plagued by high costs and weak sales which ultimately cost James P. Holden his CEO position. Buoyed by its strong sales in the mid-1990s, Chrysler had spent heavily on product development in the late 1990s and bolstered its work force while costs were skyrocketing. By the second half of 2000 Chrysler lost $1.8 billion while spending over $5 billion. Dieter Zetsche was tapped to reorganize the faltering U.S. division. He launched a major restructuring effort in February 2001 that included cutting $2 billion in costs, making additional cuts in supplier costs, slashing 20 percent of its workforce, and making changes to Chryslers product line that included the elimination of the Jeep Cherokee (the Grand Cherokee remained in the product line) and the launch of the Jeep Liberty. At the same time, global economies began to weaken in the aftermath of the September 11, 2001, terrorist attacks. To entice customers, car makers began offering buyer incentives that began to wreak havoc on profits. Industry analysts began to speculate that the 1998 merger may have been a mistakeSchrempps proclamation that the deal would create the most profitable car maker in world had indeed fallen short. In fact, the companys market capitalization was $38 billion in September 2003. Before the union Daimlers market cap had been $47 billion. Meanwhile, the companys Mercedes division plugged along launching the E-Class sedan, the SLK roadster, and the Maybach luxury vehicle. In 2003, Chrysler launched the Crossfire, a roadster developed with Mercedes components, and the Pacifica, a SUV/minivan. It also began to heavily market its powerful Hemi engine, which could be purchased for the Dodge Ram pickup and its passenger cars. In early 2004, Chryslers 300C sedan and the Dodge Magnum sports wagon made their debut. Competition remained fierce in the auto industry prompting DaimlerChrysler to make several changes in its strategy. In December 2003, the company sold its MTU Aero Engines business. That year the firm acquired a 43 percent stake in Mitsubishi Fuso Truck and Bus Corporation hoping to cash in on Asias growing truck market. Perhaps its most drastic move, however, came in April 2004 when DaimlerChryslers supervisory board voted against providing funds to bailout Mitsubishi Motors, which by now was struggling under losses and a huge debt load. Mitsubishi played a crucial role in Schrempps Asian expansion strategy and it developed the platforms for Chryslers compact and midsize cars. The failure to provide funds put a strain on the business relationship between the two and threatened to result in huge problems for Chrysler, which had cut back on engineering capacity as it relied on Mitsubishi to develop its small and mid-sized cars. At the same time, DaimlerChrysler moved ahead in the Chinese marketwithout Mitsubishi and without another partner, Hyundai. To bolster is presence in the region, DaimlerChrysler restructured its joint venture with Beijing Automotive Industry Holding Co. Ltd. and set plans in motion to tie up with Chinese Fujian Motor Industry Group and the Taiwanese China Motor Corporation to launch several cars in the Chinese market by 2005. Rumors circulated that DaimlerChryslers relationship with Hyundai was faltering as a result, and in 2004 the company signaled that it would sell its interest in the South Korean automaker. By 2004, Schrempps DaimlerChrysler was a far cry from what the 1998 merger promised to deliver. The companys financial record was lackluster, bogged down by Chryslers $637 million loss in 2003. DaimlerChrysler remained the worlds number three car maker, leaving the 2000 goalto become the number one auto company in the worldunfulfilled. Whether the merger would provide the hoped-for results remained to be seen. Literature Review Leadership is the process through which one individual influences the attitudes perceptions and motivations of other members of a group toward the achievement of a specific group or organizational goal (Greenberg Baron, 2008). Strategic leadership, by extension, is a leaders ability to foresee and proactively act on external conditions, and empower group members to implement change toward the strategic plan as necessary (Kreitner, 2007). Strategic change therefore is that change that happens as an organization moves toward the attainment of their strategic plan. (Kreitner, 2007). Strategic leadership is serves several functions, includes extending managerial influence through other group members, and makes organizations more able to successfully meet the need for change that is brought by ever quickening change in the market and market forces (Nickels et al., 2002). The ability to understand and analyze internal realities as well as market forces is a necessary component of strategic leadership. With this information in-hand, it is then necessary to perform complex information analyses. Appling a strategic management process successfully will aid in bringing about effective strategic leadership (Hitt and Keats, 1992). As this description suggests, strategic management is not without complexities, but it is critically necessary for successful strategic leadership. Many organization in todays business environment fall victim to the over-managed, under-led paradigm and so the understanding and successful implementation of strategic leadership is more important than ever (Kreitner, 2007). The successful application of strategic leadership starts at the top. By virtue of his or her position, the CEO should not consider delegating this specific duty to lower management. Once the CEO is effectively practicing strategic management, his or her methods may be adopted by other managers to effectively implement strategic management in the various divisions of an organization (Hitt, Ireland, and Hoskisson, 1995). Hitt, Ireland, and Hoskisson (1995) formulated a strategic leadership model which consists of six components; Determining strategic direction, exploiting and maintaining core competencies, developing human capitol, Sustaining effective corporate culture, emphasizing social responsibility and ethical practices, and establishing strategic controls. (1) Determining strategic direction; (2) Exploiting and maintaining core competencies; (3) Developing human capital; (4) Sustaining an effective corporate culture; (5) Emphasizing social responsibility and ethical practices; and (6) Establishing strategic controls. Determining strategic direction of an organization involves using all information available on market, competition, core competencies and well as foresight and vision to clearly define long range goals for the organization (Kreitner, 2007). Strategic intent means leveraging the firms internal resources, strengths, opportunities and core competencies to accomplish the goals that have been defined in the strategic planning process. Strategic directions give the members of the organization a clear path to attainment of the set goals (Kreitner, 2007). An organizations efforts can be considered strategic intent exists when all members of the organization or united in their pursuit of the specific benchmarks set forth by the strategic plan and belive that these goals are attainable and attainment will enable the organization to have a competitive advantage over other organizations in their industry. (Kreitner, 2007). Intel, Canon, and Xerox Microsoft are good example of corporations that have clearly discernable strategic intents (Loeb, 1993). Clear strategic intent requires effective strategic planning and effective strategic planning requires long range vision and foresight, usually five to ten years into the future. This long range vision must incorporate organizational and human resource strategy, design strategy, product planning strategy and information use and information system strategy and, finally, it must provide for a system of strategic control (Hunt, 1991). Exploiting and Maintaining Core Competencies is the second of the six components. Core competencies are the internal and external resources and the body of capabilities and expertise that give an organization its identity in the market and ultimately, its competitive advantages. Usually, core competencies relate to an organizations ability to produce their main products, be they material of informational. Some examples might include industrial manufacturing, research, customer interfaces and customer service, retail sales, technology or even specific patents held by the company. Unique market positioning, and unique customer benefits or product value are results of core competency and so, these things should be analyzed when determining core competency. A good question to ask is: why do our customers do business with us?. A main responsibility of strategic leaders in business today is to first identify, and then strengthen and grow their core competencies. Once core competencies are identified, they can then be utilized. As strategic leaders, corporate managers make decisions intended to help their firm develop, maintain, strengthen, leverage, and exploit core competencies. Exploiting core competencies involves sharing resources across units. In general, the most effective core competencies are based on intangible resources, which are less visible to competitors because they relate to employees knowledge or skills. Effective strategic leaders promote the sharing of intangible resources across business units in their firms (Hitt and Keats, 1992). In many large, diversified firms, core competencies are developed and applied across different units in the organization (economies of scope) to create a competitive advantage. Miller Beer, for example, has applied marketing and promotion competencies across its multiple businesses (Maruca, 1994). In many multinational corporations, the development, nurturing, and application of core competencies also facilitate managing complex relationships across business operating in different international markets. Whirlpool has emphasized competency across country borders (Lei, Hitt, and Bettis, 1990). 3. Developing Human Capital Human capital refers to the knowledge and skills of the organizations work force employees as a capital resource (Hitt, Ireland, and Hoskisson, 1995). Much of the development of American industry can be attributed to human capital. One-third of the gr