The Impact of Social Media to the Business World Essay

The Impact of Social Media to the Business World - Essay Example This paper illustrates that today, one can send emails, talk through cell phones, send text messages and interact through the internet characterizing how the social media tools have redefined information. Some of the tactics a business can employ is by the creation of brand profiles on social networks. Social media has defined the way information about organizations and their product and services are shared. This is evident through the benefit that people get when they share information through mobile devices. Also, the people have a meaningful dialogue with the companies and are involved in the process of creating a satisfying product. It is apparent that social media has enabled a better insight into customers behavior and improved office productivity through internal networks. Social media has also improved conversation in organizations as the communication is no longer one-way. The multidimensional conversations have led to the involvement of many relevant parties. The platform p rovided by the social media has enabled companies to take advantage of word of mouth tactic. It is evident when people are connected on a global scale, and they get to interact with each other lives through online observation. The act of liking a company brand on Facebook has proved that it can spread quickly throughout different social media channels. This is because individuals tend to trust the opinions of their friends far more than a newspaper advert. The word of mouth comes into play in such situations. The result of these has been that millions of people review products and services through social media sites such as Youtube, the information is then shared and disseminated to other social media websites. The current trend is that the public depends on the social media to get the reviews of different products and services to enable them to make buying decisions. Due to this opportunity companies have created their own Youtube channels with branded videos of their products.

Resistance of a wire Essay Example for Free

Resistance of a wire Essay Jack has been given a second hand D. C. dynamo and lamp. He wants to attach these to his bicycle and produce most light without blowing the bulb. What wire should he use? Variables: The variables in our investigation are The length of the wire The diameter of the wire (SWG) The type of wire Types of wire: Nichrome: 80% Nickel 20% Chromium Alloy. Constantan: 60% Copper 40% Nickel Alloy. Copper First of all we decided to test the resistance using a Multimeter. This would give us a rough idea about what the resistances of each wire are. Our lengths of wire were all 30cm long. Our results were as follows WIRE RESISTANCE ? Copper 0. 6 Nichrome 1. 2 Constantan 4. 3 Later we realised that we were using wires with completely different SWGs. To make it a fair test we needed to use wires with the same SWG. We repeated the test using a length of 30cm and an SWG of 32. Our results were as follows Our results changed dramatically. WIRE RESISTANCE ? Copper 0. 9 Nichrome 5. 8 Constantan 2. 9 Testing the current + Voltage Next we decided to test the current and voltage so that we could get a more accurate figure for the resistance. We set up a circuit consisting of, a power pack, ammeter and variable resistor in series. We also had a voltmeter in parallel to the wire we were testing. The readings we take off the ammeter and voltmeter allow us to figure out the resistance using a simple equation: Voltage ? Current = Resistance. Our circuit looked like this A variable resistor allows us to control the current going through the circuit. We needed to keep it as low as we could to avoid a heating effect in which ohms law would not take place and our results would not be accurate. Type Of Wire Current (I) Voltage (v) Display complete essay The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Electricity and Magnetism section.

Mass Media In Britain Media Essay

Mass Media In Britain Media Essay The overall aim of this paper is to explore current-day British media language, and how it has changed, or is changing, and how this affects peoples view of the world. Also, to look at the reverse, at how the new British media may be affecting language. Of course, in all this, language is inevitably interwoven with broader trends and issues. Three main topics provide the cornerstones of the present paper, and these make up the three chapters. Chapter I, Mass-media in Britain, contains subchapters which outline and discuss how British media has evolved and changed in recent years. Chapter II, New alternative British Media models, explores various ways in which British media is realized at the current time, focusing on the representation of particular topics such as Web media so popular nowadays . We will show how these can influence the perceptions of readers or the audience. Chapter III , Future Media in UK- BBC iPlayer, looks at the high-tech level employed by the British Media and analyses its success and downfalls. Each chapter of this paper therefore has a separate main theme. However, in another way, the chapters overlap, in that certain key points recur. Globalization versus fragmentation may be the most noticeable two-way alternative in British media. News reports leap across the globe in seconds, and this has resulted in some similarities in media styles across widely separated geographical regions. In other cases, the reverse has happened, the immensity of the world has led to a tightening of small-scale networks, resulting in some fragmentation, as people try to maintain local ties and their own identity.  [1]   This paper is an attempt to address some fundamental concerns underlying the British media studies. I first outline the academic and theoretical roots of this field. Then I discuss its major disciplinary dimensions and critical issues. The specific aim of this paper is to set out the approximate sequence of development of the present-day set of British mass-media. It is also to indicate major turning points and to tell briefly something of the circumstances of time and place in which different British media acquired their public definitions in the sense of their perceived utility for audiences and their role in society. These definitions have tended to form early in the history of any given medium and to have been subsequently adapted in the light of newer media and changed conditions. This is a continuing process. The paper concludes with some reflections on the two main dimensions of variation between British media: one relates to the degree of freedom and the other to the conditions of use. CHAPTER I. MASS-MEDIA IN BRITAIN I.1. British media-evolution and perspectives The domestic media market in the UK is becoming ever more competitive . In broadcasting, the stable relationship that existed for many years between the BBC, a public corporation funded by a licence fee, and the Independent Television sector, a network of private regional broadcasters funded by advertising revenue, has fragmented, as a consequence of the arrival of satellite and cable companies whose main revenues are derived from subscriptions. Particularly significant is the rise and rise of SKY satellite TV and its multi-channel packages, which is owned by Rupert Murdochs News Corporation. The terrestrial stations themselves have also recently entered the digital market place, with varying success. The BBCs non-subscription Free View service has so far proved moderately successful, delivering more dedicated programming aimed at niche audiences and subject areas. However, ITVs ventures into pay-view digital TV, launched as OnDigital in 1998, proved disastrous, being re-launched and then ending up as ITV digital in 2002 after incurring unsustainable losses.  [2]   The national newspaper market in the UK has always been a crowded one. There are currently nine daily and weekly up-market broadsheet titles and 10 tabloids that are distributed across the UK. This is by far the largest national newspaper press in Europe and has led some to question whether this is sustainable in a market the size of Britain. Long-term decline in readership figures (down 20% since 1990), rising production costs and falling advertising revenues have placed significant financial pressures across the sector, squeezing certain titles to the margins of viability.  [3]   These pressures are also evident at local and regional levels of the British newspaper market and have been exacerbated by the rise of free newspaper titles that are funded entirely by advertising revenue. This intensifying competition has led to a growing concentration in ownership patterns both within and across British media sectors, as smaller outlets are acquired by multi-media corporations whose economies of scale protect them to some degree from market pressures. Today, in the UK, the press is still characterised by a metropolitan focus almost all its national newspapers are published in London, and its diversity, there are 11 national dailies, and 12 Sunday newspapers. Of these, 11 are tabloids, which focus mainly on light news and entertainment, whereas the so-called quality press is more focused on politics, economics and foreign news. Regional and weekly newspapers, paid-for and free, concentrate almost entirely on local issues. Newspapers are free from political control and funded entirely by cover price and advertising. Working practices in newspapers and the broadcast media have been changed dramatically both by the opportunities provided by new technology and by the political and industrial climate created by the Thatcher government of the 1980s and unchanged in the 21st century. In the broadcast industry, de-regulation since the 1990s has both fragmented the audience and, conversely, concentrated ownership. There are about 15 regional commercial television licenses, though ownership is concentrated; hundreds of commercial radio stations, although the sector is characterised by large-groups; and there is also a new wave of community radio stations.  [4]   Television viewers can also access 24-hour news stations such as BBC 24, SKY News and CNN via cable and satellite and web sites complement many, if not most, of the news outlets. The distinctive character of the UK media, metropolitan, historically rooted in an early emancipation from political party control of the press, thoroughly commercial in structure and organisation, yet with a seminal public service broadcasting institution at its core, is unique. News time is time in relation to place: what matters is the fastest news from the most distant or most important place. In the evolving British media landscape, opportunity abounds. The roots of British media studies are traceable in the inquiries about the relationship between media and culture. The early attempts to this direction started during the 1920s following the rise of British mass media forms like radio networks, newspapers and magazines of mass circulation, and after mid 1930s with the advent of television media. The initial studies into British media were influenced by the Eurocentric obsessions on high cultureclaimed by many to be the best that has been said and thought.  [5]  The media of the time were assigned the role of representing that high culture ignoring the world outside Europe and colonies of European powers. The period was marked by widespread British hegemony in media production and circulation with news agencies like Reuters and BBC, which projected the image of media as powerful and influential, media as vehicles of nation-state or class propaganda, media as exemplars of modern technologically sophisticated professionalism. Development of academic media discourse, nevertheless, was remarkably slow during these formative years because it lacked a specific theoretical direction as a result of what Denis MacQuail (2002) calls the absence of a fixed disciplinary base.  [6]   Postmodernism promotes the worldview that the present is the age when identities are determined by whose information is disseminated fastest . It further recognizes the role of mass media in integrating people by reducing boundaries of space and time. It acknowledges the presence of multiple technologies as vehicles creating more spaces and more possibilities of switching across them. According to Carl Eric Rosengren, As new media for communication have been created, the old ones have become specialized, but none have been completely eliminated.This notion fully applies to British medias evolution. More than any other technologies for mass communication, contemporary media allow for a greater quantity of information transmission and retrieval, place more control over both content creation and selection in the hands of their users, and do so with less cost to the average consumer. The Internet serves as the best example and, through digital convergence, will form the backbone of most future mediated communication. The Internet was designed to be decentralized, meaning that control is distributed to all users who have relatively equal opportunity to contribute content. The increased bandwidth of the Internet further enhances users ability to become content producers and to produce material that is fairly sophisticated at low cost. In addition, many of the new technologies in UK are more portable and, therefore, more convenient to use compared with older mass media. These characteristics of the new media are breaking the foundations of our conception of mass communication. Today, media institutions are changing such that mass production is less mass. The explosion of available channels afforded by the new technologies contributes to the demassification of the media by diffusing the audience for any particular media product. This has resulted in channel specialization, and the old model of broadcasting to the masses has given way to market segmentation and targeting to niche audiences.  [7]   Although existing British media institutions are well positioned to adapt to these changing conditions, the fact that the new British media shrink the size of the audience for any particular channel is likely to create opportunities for others. That is, if smaller audiences mean reduced costs of production and distribution, then more content producers will be able to enter the media market. In the near future, the issue may be less about what media companies are doing to people and more about what people are doing with the media.  [8]   This is one reason why we find new media holding great potential as a resource for British press freedom and freedom of expression. They serve as a platform for dialogue across borders and allow for innovative approaches to the distribution and acquisition of knowledge. These qualities are vital to press freedom. But they may be undercut by attempts to regulate and censor both access and content. As follows we will provide in short lines some advantages and less fortunate characteristics of the choice for one media or another, in order to underline the interconnectedness among all of the media in shaping the large picture of the British media diversity. The book medium Technology of movable type Bound pages, codex form Multiple copies Commodity form Multiple (secular) content Individual in use Claim to freedom of publication Individual authorship The newspaper medium Regular and frequent appearance Commodity form Reference to current events Public sphere functions Urban, secular audience Relative freedom The film medium Audiovisual technology From public performance to private experience Extensive (universal) appeal Predominantly narrative fiction More international than national in character Subjection to social control From mass to multiple markets Television Very large output, range and reach Audiovisual content Complex technology and organization Public character and extensive regulation National and international character Very diverse content forms Radio Flexible and economical production Flexible in use Multiple contents Relative freedom Individualized use Participant potential Recorded music (phonogram) media Multiple technologies of recording and dissemination Low degree of regulation High degree of internationalization Younger audience Subversive potential Organizational fragmentation Diversity of reception possibilities The Internet as a medium Computer-based technologies Hybrid, non-dedicated, flexible character Interactive potential Private and public functions Low degree of regulation Interconnectedness Ubiquity and delocatedness Accessible to individuals as communicators  [9]   I.2. British newspapers , broadcast media and new age media British Broadcast television   is going through a period of change with increasing digitilisation and interactive media cooperation. The biggest broadcast TV stations remain the BBC and SkyTV but these are supplemented by 250 cable and satellite TV stations and 1,100 independent television production companies.  [10]   This is a rapidly growing sector with cable and satellite and independent companies doubling in the period 2000-2008. This is a broad profession where 34% are freelance and people are judged by the quality of their work rather than their formal qualifications. Despite this, 70% have at least an undergraduate degree. British Radio the airwaves are dominated by the BBC , which has 12 distinct radio channels. Interactive media comprises collection of areas including web and internet, offline multimedia, electronic games and interactive TV. Game design the UK has one of the largest gaming industries. 48 of the worlds most profitable studios are based in the UK. The industry has been growing to7.5% from 2009-2012. Some of the main Bristish Media organisations: the British Media Industry Group ,Cable Communications Association , ITV Network Centre, National Association of Press Agencies . Some of the major industry bodies: Commonwealth Press Union, Institute of Local Television, Radio Joint Audience Research. The major occupational/professional groups: Association of British Editors, British Society of Magazine Editors. The main trade unions: Broadcasting, Entertainment, Cinematograph and Theatre Union. The UK Television The five national networks (excluding satellite) Cable and digital Five national networks in the UK. The main British TV channels are: BBC 1 since 1936, general interest programmes. BBC 2 minority and specialist interests. ITV broadcasting is approximately 33% informative and 66% light entertainment. Channel 4 since 1982, 15% educational programmes, encourages innovation and experiment. Television viewing in Britain- overview The most popular leisure pasttime Average viewing time is over 25 hours a week TV productions continue to win international awards Half of the programmes are bought abroad Childrens TV has been very active( Blue Peter on BBC 1) Youth TV has been started recently Presentation of the BBC (British Broadcasting Corporation) Six national stations. Broadcasts: BBC 1, 2, 4, BBC News 24, BBC Choice, BBC Parliament. Radio Channels. No advertising. Worldwide television services (BBC World, BBC Prime) The division of programmes Light entertainment (variety shows, soap operas, situation comedies, game shows) News/current affairs Documentaries  [11]   Childrens TV Music Sport Films/TV movies Drama/plays British favourite TV shows Are you being served? Bless me father Fawlty Towers Mulberry Yes, Prime Minister Blackadder Chef Holmes The brief history of British radio  [12]   1922: BBC started daily broadcasting on 2LO on 14 Nov. The first voice was Arthur Burrows, reading the news. 1922: 15 Nov: 5IT and 2ZY became first BBC stations outside London. 1967: On 30th September, BBC radio reorganisation launched Radios 1,2,3 and 4. 1967: Third Programme andNational Programme replaced 2LO. The Regional Programme, an alternative service, started later this year. 1973: Birth of independent (commercial) radio, with LBC and Capital Radio in London. 1988: First commercial station split frequencies. 1990: IBA split into ITC 1991: Radio 1 goes 24 hours on 1 May. 1992: Launch of Classic FM, Britains first national commercial radio station. 1993: Launch of Virgin 1215. 1995: Talk Radio began broadcasting on 14 Feb. 1996: New rules on cross-media ownership heralds further change in the radio industry. The most popular British radio stations are  [13]  : Clare FM Anna Livia Live 95 Welsh Radio International Imperial College radio Capital FM BBC Radio 2

Interview with a High School Counselor Essay -- Counseling

School counseling has evolved over the years into a significant component of the educational system. School counselors are taking on new roles in schools as leaders, working with â€Å"school administration and staff in developing student attitudes and behavior which are necessary to maintain proper control, acceptable standards of self-discipline and a suitable learning environment within the school† (Secondary School Counselor 2012). Counselors work in â€Å"diverse community settings designed to provide a variety of counseling, rehabilitation, and support services† (Counselors, 2010). When working in a school district as a counselor, you can either be an elementary school counselor, middle school counselor or a high school counselor. This essays explores a recent interview with a high school counselor. High school counselors advise students on an assortment of topics. Counselors help from advising students about colleges and requirements to helping students deal with social, behavioral and personal problems. School counselors do not always interact with students individually; they will also work with small groups of students or even an entire class, depending on the topic. According to the American School Counselor Association (ASCA), high school is a time for students to transition into adulthood and the work of work, begin separating from their parents, and exploring and defining their independence. They need guidance in making concrete and compounded decisions. This is where school counselors come in to help these students guide them with information. While interviewing the high school counselor of my choice Mr. Lee Ryland, this learner has learned that Mr. Ryland’s responsibilities as head school counselor i... ...and then peer approval, trying to be accepted in a group. Having strong counselors is a good foundation for a school; these educators are here to help promote academic success. Works Cited Counselors. (2010). United States Department of Labor. Retrieved 2015, from Bureau of Labor Statistics website: http://www.bls.gov/oco/ocos067.htm Ekchian, V. K. (Ed.). (2010, December). Los Angeles Unified School District Policy Bulletin. Professional Growth Manual.(2013). Renew a professional clear credential. Retrieved from California Commission on Teacher Credentialing website: http://www.svusd.k12.ca.us/resources/pg_manual_multsingsubj.pdf Secondary School Counselor. (2012). Los Angeles Unified School District. Retrieved from http://www.teachinla.com/research/class_descriptions/0533.pdf Ryland, L. (2015, February). Professional Counselor Interview.

Rhetorical Devices Essay

The definition of an anecdote is a story that is very short that either explains or emphasizes a point that is trying to be made. In my speech when I was explaining that soccer has affected the paths that my life has taken including schools and friends, I used the short story of getting recruited for soccer at the high school and collegiate level, which is also where I met my best friends. In Bekah Diehl’s speech making the point that the saying â€Å"the only fear is fear itself† she said she not scared of the fear of baseballs, but rather the ball itself. The story she used was with her friends playing catch with the baseball around her. The conclusion is the final part of a speech that closes it and ties it all main points together. In the conclusion the thesis is stated, the main points are summarized, and a clincher is said to leave the audience with. The conclusion for my speech was that soccer has made me a well-rounded individual and has shaped the person that I am today. My favorite memories have included playing soccer and my teammates. When I step on the field I am free. I would not be the same person today if soccer was not in my life. In the closing of Bekah Diehl her conclusion that was her fear of baseballs is real and something she has to deal with. However, she takes comfort that her she doesn’t have a phobia of something else and that her phobia could be of something worse.

Free Essays on Pro Marijuana

Marijuana is a substance that has become very much a part of American culture. Nearly 65 million Americans have either used it occasionally or regularly. The word â€Å"marijuana† means many different things. Its definition is that it is the dried leaves and flowering tops of the pistillate hemp plant that yields THC. It is a natural substance that has been grown for thousands of years for many different purposes. It is also referred to as cannabis-sativa. It is one of the most commonly used drugs in the world, following caffeine, nicotine, and alcohol in popularity. In the United States, where it is usually smoked, it also has been called weed, grass, pot, or reefer. The word marijuana means different things to different people. To doctors and pharmacists, it means a medication that can be used to treat pain and ease sickness. To police officers, it means an illegal substance that alters a person’s mood, feelings, and personality. To the average marijuana smoker, it means a pleasurable drug, which gives effects of euphoria. Now let’s talk about the effects of marijuana and how it works. The effects of marijuana vary with its strength and dosage and with the state of mind of the user. Typically, small doses result in a feeling of well-being. The â€Å"high† lasts two to three hours, but additional effects on motor control last much longer. The primary active component of marijuana is delta-9-tetrahydrocannabinol (THC). THC is a physiologically active chemical (C21H30O2) from hemp plant resin that is the chief intoxicant in marijuana. It is basically the component that makes you â€Å"high†. Why is marijuana illegal? This is some of the answers I have come up with by researching, it’s a gateway drug, it weakens the immune system, it causes lung disease, it causes birth defects, it causes brain damage, it is addictive, it decreases the drive to excel and succeed, and it is a main cause of car accidents. WELL I HATE T... Free Essays on Pro Marijuana Free Essays on Pro Marijuana Marijuana is a substance that has become very much a part of American culture. Nearly 65 million Americans have either used it occasionally or regularly. The word â€Å"marijuana† means many different things. Its definition is that it is the dried leaves and flowering tops of the pistillate hemp plant that yields THC. It is a natural substance that has been grown for thousands of years for many different purposes. It is also referred to as cannabis-sativa. It is one of the most commonly used drugs in the world, following caffeine, nicotine, and alcohol in popularity. In the United States, where it is usually smoked, it also has been called weed, grass, pot, or reefer. The word marijuana means different things to different people. To doctors and pharmacists, it means a medication that can be used to treat pain and ease sickness. To police officers, it means an illegal substance that alters a person’s mood, feelings, and personality. To the average marijuana smoker, it means a pleasurable drug, which gives effects of euphoria. Now let’s talk about the effects of marijuana and how it works. The effects of marijuana vary with its strength and dosage and with the state of mind of the user. Typically, small doses result in a feeling of well-being. The â€Å"high† lasts two to three hours, but additional effects on motor control last much longer. The primary active component of marijuana is delta-9-tetrahydrocannabinol (THC). THC is a physiologically active chemical (C21H30O2) from hemp plant resin that is the chief intoxicant in marijuana. It is basically the component that makes you â€Å"high†. Why is marijuana illegal? This is some of the answers I have come up with by researching, it’s a gateway drug, it weakens the immune system, it causes lung disease, it causes birth defects, it causes brain damage, it is addictive, it decreases the drive to excel and succeed, and it is a main cause of car accidents. WELL I HATE T...

The Effects of Immigration in America

The Effects of Immigration in America of the labor market, if there were no immigrants, there would be no labor at the age of 35 in the United States as now the American society is aging. What is more, the majority of immigrants is employed in the fields of industrial production, trade, construction, service, and entertainment industries. For several reasons, the proportion of immigrants is particularly weighty in the field of engineering, medicine, information technology, and physics. For example, in the 1960s, American medical schools did not prepare a sufficient number of specialists. In this connection, the U.S. government gave special immigration privileges to doctors and nurses from Korea, so that they moved to the United States. In some cases, the government even pays for resettlement in the United States for people from Korea. It is believed that if immigrants leave the U.S. high-tech center Silicon Valley, it will simply cease to exist. The contribution of immigrants to the economy lies in the fact that they are working hard. Immigrants from other countries are working on average 10% more than the locals. In addition, migrants and immigrants tend to be much less likely to violate local laws than the local residents, as well as being subjected to such vices as alcoholism or drug addiction. Immigrants also possess a great potential to update the population of the United States. According to the UN, the USA is one of the 13 industrialized countries which critically need the inflow of fresh blood as its native population is rapidly aging. According to UN forecasts, the population of the United States will increase from 280 million to 350 million people in a half of a century. Clearly, the history of the American immigration faced a lot of moments with harsh measures. However, nowadays some policies are altered in a way to support the country and its citizens. As it was stated on the inscription on the Statue of Liberty, America needs to host new and new generation in order to help those who need it.

Value of Flexible Management Essays

Value of Flexible Management Essays Value of Flexible Management Paper Value of Flexible Management Paper Introduction Prior to researching this topic, my impression of management was limited. My concept was meshed within the framework of business and economics. Therefore, my definition of this construct was in error. For rectification, and foundational reference, management is the process of directing resources towards the accomplishment of a specific goal. This definition, one that I have derived from the compilation of many, incorporates two key variables. The first operative word in this definition is â€Å"resources. Resources can mean anything from money, employees, athletes, students, or just about any organized effort, group or cohort. The other functional variable in this definition is â€Å"goal. † The goal or aim of the organized effort can be defined in countless ways, not only in terms of economic gains or corporate success. This definition helps to illustrate just how much management filters through a gamete of industries. Management roles ar e found in business as well as sports, academics, and many other industries in many forms. Now that there is a foundation for what management is, why is this process important? Management has the ability to realize potential and direct resources in such a way that will optimize the return on the invested resources. Managers can create opportunities of advantage and promote successful goal attainment. Herein lays the importance of this role. Effective management ensures that with the application of minimal resources, there will be a return of maximum benefits. Since there are such benefits of good management, it is helpful to explore the variety of styles. This paper will, first, outline the major styles of management. While there are many different names and classifications of management styles; there are three main types. These include autocratic, participatory, and laissez-faire. The major difference of the three styles is the degree to which the manager directs the given resources. The autocratic style of management involves the managers making all the decisions for resources, with no other input. The participative style of management calls for the consultation of others, such as employees, in the decision-making process. In laissez-faire style of management, the manager has little to no part in the direction of resources. Considering the differences of these major styles of management, is there one style that takes precedence over another? Is there a â€Å"best† managerial practice? In 2006, Harvard Business School published an article delving into the differences of management techniques (Silverthorne, 2006). The basis of the article explores how one’s management style is heavily influenced by what kind of person they are. Therefore, managers need to be aware of the type of person they are to fully understand how they manage and in what situations they will be successful. This article supports the notion that a manager’s effectiveness is limited by their dominant style of management. In addition, because of personal dispositions, managers are unable to change themselves and must be careful to align themselves with situations that agree with their style of management. In reality, this construct is quite impractical. We are, oftentimes, unable to choose the situations in which we operate, professionally. How, then, does one manage effectively? Various management styles can be employed dependent on the culture of the business and the nature of the task, workforce, and resources. This idea supports that the prevailing circumstances dictate the most effective management style and managers should exercise a range of techniques. This is the subsequent focus of this discussion. While many are defined by a dominant style of management, an effective manager is one who can adapt their management techniques to a variety as they arise. Autocratic Management Autocratic Management is the style in which the manager has the greatest degree of control over the direction of the resources. In this style, managers make all decisions unilaterally. Managers usually dictate orders and employ a strict system of checks and balances to ensure adherence to protocols. Also know as directive management, managers tell their subordinates what to do, how to do it and when to have it completed by (Coye Belohlav, 1995, p 16). They assign roles and responsibilities, set standards, and define expectations. Within this style of management communication is one way, and go from management to resources. For example, when the manager speaks the employee listens and reacts. As defined above, the purpose of management is to direct resources toward a goal. In autocratic management, the manager sets all goals with specific deadlines to track progress. The autocratic manager is the principal of the decision making process. When a problem arise the resources report to the manager and the manager evaluates the options and makes the decision as to the direction and action that should be taken (Coye Belohlav, 1995). In terms of management feedback, the autocratic style of management calls for detailed instructions of changes that need to be made to the final product. Any rewards and recognition bestowed by autocratic managers are dictated by how well people follow directions. A perfect illustration of a working application of the autocratic style of management can be seen though the management employed in United States Military. Within the military the ranking system sets a scene for the role of the manager. In accordance with a strict chain of commands, members with a higher rank than another, have the responsibility to direct the actions of subordinates (See Exhibit A). Subordinates such as Airmen, in the U. S. Air Force, are charged with carrying out the orders of their Sergeants and other commanding officers. There is no discussion or exchange of ideas. Here, managers, or senior officers, give directions and expect that their resources are allocated according to exact orders. Goals are set by military officials and then handed down through the ranks. All strategy is developed by high ranking members, as well. Members of the military are rewarded with a successive rank as a result of properly serving within their assigned role. Though autocratic management seems limited, there are definite benefits to behold. Because there is clear direction given by managers who subscribe to the autocratic style, there is no confusion about expectations. This clear understanding of what is expected promotes tasks being completed according to deadline and product consistency. Along with the positive aspects of the autocratic management style there are certain negative points. With this type of management, employees or resources have no input in the tasks that they are given (Vanderburg, 2004). This causes the producer to be disconnected from the product. Resources do not feel valued and have no ownership in their work. Therefore there is a decrease in motivation and a high turnover rate. (See Exhibit B) Participative Management The participative style of management is different from autocratic in that there is a lesser degree of direction from the manager. A participative manager, rather than making exclusive decisions, seeks to incorporate others in the process. Participative managers possibly include subordinates, peers, superiors and other stakeholders in the decision-making process (Coleman, 2004). Because this type of manager considers the views of others, decisions are often made based on the agreement of the majority. Although there is major consideration of external sources, the most participative activity remains within the immediate team of peers. The participative manager allows less control and direction to transfer to subordinates. The question of how much influence may vary on the personal preferences and beliefs of the manager. This style of management may also be known as the democratic style. The communication is quite extensive in this style of management. There is considerable exchange in both directions, from manager to resources and vice-versa (Coleman, 2004). The ideal is for the majority to reach a consensus over a business decision. The goal setting process is also done in a cooperative effort. Participative managers decide upon goals with the consideration of outside ideas, as well. The accessibility of reaching these goals is also a point of discussion in the participative style of management. This type of manager has a paternal quality in that the well-being and success of subordinates, peers, superiors and other resources are taken into account (Coleman, 2004). Therefore the decision-making process is not unilateral. The participative management style promotes constructive manger feedback. If changes are to be made to the product, there is discussion of the direction that should be taken. Participative managers give positive feedback, as well. This is in line with the paternal characteristics of this style of management. When deciding on rewards and recognition, participative management incorporates the performance review process. Because participative managers welcome the active role of subordinates, they are willing to discuss employee performance, celebrate strengths, and develop weaknesses. This type of management is, perhaps, the most prevalent in the infrastructure of many large corporations, today. Corporations such as IBM, Home Depot, Pitney Bowes and countless others have embraced participative management style. It is very common for employees to operate in cohorts and subgroups and work as teams. Many are given year-end performance reviews and are able to access company management. The participative style of management can be particularly useful when complex decisions need to be made that require a range of specialist skills. From the overall businesss point of view, job satisfaction and quality of work will improve. By creating a sense of ownership in the company, participative management instills a sense of pride and motivates employees to increase productivity in order to achieve their goals. However, the decision-making process is severely slowed down, and the need of a consensus may avoid taking the best decision for the business. It can also grant decision-making responsibility to unqualified parties. In some cases of participatory management, decisions are swayed by politics and hidden agendas; which can also act as a barrier to the best business decision. (See Exhibit C) Laissez-faire Management The management style with the least degree of managerial direction of resources is known as laissez-faire. In this particular style the manager’s role is very much â€Å"hands-off† and peripheral (McCoy, 1996). The resources, be it employees, or others; manage their own area of business. There is an evasion of official managerial duties and uncoordinated delegation is, often times, inevitable. The communication within laissez-faire management is horizontal but flat. There is little to no communication that occurs in comparison to the autocratic and participatory styles of management. With no communication there is no opportunity for goal setting. Resources have to be internally motivated and set their own goals. Managers who participate in this type of management also incorporate unilateral decision making within their framework (McCoy, 1996). However, it is not the manager who engages in this practice. It is the subordinates and resources who are totally responsible for making all decisions. Because managers are uninvolved in the production processes in laissez-faire management, they provide no feedback or rewards for a job well done. A real-world example of laissez-faire management can be seen in partnerships of colleges. We can think in terms of a law firm, a private medical practice, a consulting firm or any other cooperative effort in which all parties posses a similar level of expertise. A more vivid illustration can be made through the following example. As emergency room doctors, with equal training, receive a patient, they simply begin to take action without formal direction. As we can glean from the above example, there are certain situations in which it is effective to apply laissez-faire management. An environment in which employees are highly skilled, experienced and educated is a prime setting to apply the laissez-faire practices. This creates a setting where employees have pride in their work and the drive to do it successfully on their own. Employees who thrive under this type of management are usually trust worthy and experienced. On the contrary this style of management would be detrimental in situations were the resources needed direction and lack experience. Laissez-faire management may cause employees to feel insecure at the unavailability of a manager. The manager does not provide regular feedback to let employees know how well they are doing or how they may improve. This leads to a lack of staff focus and sense of direction, which in turn leads to much dissatisfaction, and a poor company image. (See Exhibit D) The Most Effective Style After considering the three major styles of management above, there must be one model that supersedes the others. Perhaps we are more apt to choose participative management as the most effective. This would not be a far reaching selection, since it was the style of management that prevailed in the 1970s (Robbins, 2005). The participative style of management was seen as an amalgamation of democratic styles of management. It represented the most successful qualities of each style. The participative style of management is alive and well in the infrastructure of business models. It is probably the style of management that the majority of people are familiar with, and the style that most mangers strive to imitate. However, I do not accept that perfection has been attained within the participative style of management. There are very apparent limitation like slow business processes and difficult decision making that can undercut the best interest of a business (Keef, 2004). If the participative style of management is not the most effective; is there a â€Å"best† practice? Although participative management is quite popular, we may be witness to a shift in ideology. More and more, business leaders and managers are subscribing to the effectiveness of versatility rather than one dominant management style (Sumukadas Sawhney, 2004, p 1013). It is more efficient for a manager to apply the most effective style of management as situations arise rather than use a cookie-cutter approach. This flexible approach to management is the most practical when considering today’s changing technology, global trading and dynamics of business. Managers must be willing to abandon traditional ways of decision-making and adapt to their environment, in order to stay competitive and collect the greatest return on invested resources. In such a growing, diversified business landscape, one manager may be responsible for new hires, project management, and resource development. In order to best handle the new hires, this manager must take an autocratic approach, and painstakingly detail expectation. When acting as project manager, this same manager must incorporate a more participative style. Projects are, usually, assigned to a team of resources that come together in a collective exchange of expertise. The manager would then garner optimal results by delegating resource development to industry experts, and taking a laissez-faire approach. It is most valuable for one manager to be all things to all people. In essence, the most effective style of manager knows what style to apply in every situation. Though they were not managers in the conventional business industry, Bobby Knight and Mike Krzyzewski, dubbed Coach K, are fine examples of effective managerial practices. To further expand the analogy, I offer that their business was college basketball; their resources were young athletes, and their goal was the glory of a national championship. Many argue that these two coaches are among the most successful in the game of college basketball; though, their overt management styles could not be more different. Both coaches support the idea that one’s ability to exhibit various style of management is the most effective style of management. Both coaches exhibit key behaviors that are inline with flexibility in management. Both coaches are aware of and understand their personal assumptions and human nature. This promotes the awareness of how human nature influences their behaviors and automatic responses to given situations. This understanding of personal tendencies and over styles, allows a manger to rise about inherent responses and adapt their leadership and management skills to effectively govern a circumstance. Coach Bobby Knight was overtly a top-down, autocratic manager to his college basketball players. He would throw chairs, yell, get physical, and tightly supervise his team toward winning games. However, as Coach Knight’s style would change as he spent more time with his team (Sliverthorne, 2006, p 2). His control and direction was relaxed as he was confident in the training and ability of his players. Over the years, Coach Knight managed his athletes according to their needs for direction. He exhibited â€Å"tough-love† and versatility in management, and led many victories in college basketball. Coach Mike Krzyzewski’s overt management style would be defined at the other end of the spectrum. He had more of a laissez-fair management philosophy. Coach K believed that â€Å"people were fundamentally good and they want to do their best and would be self-motivated to perform. † (Silverthorne, 2006, p 1). Though Coach K had this inherent approach, he definitely knew how to mobilize and motivate his players. He knew how to toughen up and manage his players more autocratically. He also determined his management techniques according to the tasks and resources at hand, which lead to many won games. There is a twist to this pseudo-case study of mangers. In the 1960s, Coach Knight was a basketball coach at the U. S. Military Academy at West Point, where he recruited a young Mike Krzyzewski. â€Å"Coach K was a young scrappy kid. He wasn’t the best athlete on the team, but he had a lot of leadership potential,† remarked Knight (Silverthorne, 2006, p 2). After Krzyzewski left the Army, he joined Knight as a graduate assistant at Indiana, where Knight was a valuable mentor. Though very different in nature, the coaches have been great friends for many years. Though these coaches have very different overt styles, their situational adaptability allows them to share in the success of effective management and many college basketball victories. Conclusion There is greater value found in managing according to a given situation than applying a â€Å"one-size-fits-all† approach. The three major types of management all have effective practices. Therefore it is more appropriate to be autocratic to resources that require detailed direction, participative to peers and engaged employees, and laissez-faire to high-level experts. A aluable lesson can be gained from successful managers like Bobby Knight and Coach Krzyzewski. In order to nurture their resources to create the greatest return on investment, they had to become all things to all men. In the end it is adaptability that will not only support survival, but success, as well. References Coleman, P. T. (2004) Implicit Theories of Organizational Power and Priming Effects on Managerial Power- Sharing Decisions: An Experimental Study. Journal of Applied Social Psychology 34, no. 2: 297–321. Retrieved October 24, 2007, from tc. columbia. edu/icccr/Documents/Coleman/AbstractImplicitTheories. df Coye, R. W. , and J. A. Belohlav. (1995) An Exploratory Analysis of Employee Participation. Group and Organization Management 20, no. 1: 4–17. Greenfield, W. M. (2004) Decision Making and Employee Engagement. Employment Relations Today 31, no. 2: 13–24. Kaner, S. , and L. Lind. (1996) Facilitators Guide to Participatory Decision-making. Gabriola Island, BC, Canada: New Society Publishers. Keef, L. (2004) Generating Quality Interaction. Occupational Health Safety 73, no. 5:30–31. McCoy, T. J. (1996)Creating an Open Book Organization: Where Employees Think and Act Like Business Partners. New York: Amacom. Robbins, S. P. Essentials of Organizational Behavior. (2005)8th ed. Upper Saddle River, NJ: Prentice Hall. Silverthorne, S. (2006) â€Å"On Managing with Bobby Knight and â€Å"Coach K†. † Lessons from The Classroom. Boston, Massachusetts. Retrieved October 27, 2007, from http://hbswk. hbs. edu/pdf/item/5464. pdf Sumukadas, N. , and R. Sawhney. (2004): Workforce Agility through Employee Involvement. IIE Transactions 36, no. 10 1011–1021. Vanderburg, D. (2004) The Story of Semco: The Company that Humanized Work. Bulletin of Science, Technology Society 24, no. : 430–34. Retrieved October 24, 2007 from brainfuel. tv/maverick-the-story-of-semco-an-amazing- workplace Weiss, W. H. (1998) Improving Employee Performance: Major Supervisory Responsibility. Supervision, 6–8. Exhibits Exhibit A List of Military Rank ________________________________________ Officers LetterNavyArmy/Air Force/Marines O-12 (GAm ) Grand Admiral O-11(FAm ) Flee t Admiral(COp) Chief of Operations O-10(Adm ) Admiral(Gen) General O-9(VAdm ) Vice Admiral(LtG) Lieutenant General O-8(RAdmU) Rear Admiral(MG ) Major General O-7(RADmL) Commodore(BG ) Brigadier General O-6(Capt ) Captain(Col) Colonel O-5(Cdr ) Commander(LtC) Lieutenant Colonel O-4(LCdr ) Lieutenant Commander(Maj) Major O-3(Lt ) Lieutenant (Cap) Captain O-2(LtJG ) Lieutenant Junior Grade(1Lt) First Lieutenant O-1(Ens ) Ensign(2Lt) Second Lieutenant Warrant Officers W-4(CW4) Chief Warrant Officer W-3(CW3) Chief Warrant Officer W-2(CW2) Chief Warrant Officer W-1(WO1) Warrant Officer Enlisted Personnel GradeNavyMarinesAir ForceArmy E-9(MCPO) Master Chief Petty Officer(SgtMaj) Sergeant Major(CMSgt) Chief Master Sergeant(CSM) Command Sergeant Major E-9(MGySgt) Master Gunnery Sergeant(SGM) Sergeant Major E-8(SCPO) Senior Cheif Petty Officer(1stSgt) First Sergeant(SMSgt) Senior Master Sergeant(1SG) First Sergeant E-8(MSgt ) Master Sergeant(MSG) Master Sergeant E-7(CPO ) Chief Petty Officer(GySgt ) Gunnery Sergeant(MSgt ) Master Sergeant(SFC) Sergeant First Class E-7(PSG) Platoon Sergeant E-6(PO1 ) Petty Officer First Class(SSgt ) Staff Sergeant(TSgt ) Technical Sergeant(SSG) Staff Sergeant E-5(PO2 ) Petty Officer Second Class(Sgt ) Sergeant(SSgt ) Staff Sergeant(Sgt) Sergeant E-4(PO3 ) Petty Officer Third Class(Cpl ) Corporal(Sgt ) Sergeant(Cpl) Corporal E-4(SrA ) Senior Airman(Sp4) Specialist 4 E-3( ) Seaman(LCpl ) Lance Corporal(A1C ) Airman First Class(PFC) Private FIrst Class E-2(SA ) Seaman Apprentice(PFC ) Private First Class(Amn ) Airman(PV2) Private E-1(SR ) Seaman Recruit(Pvt ) Private(AB ) Airman Basic(PV1) Private The Value of Flexible Management I. Abstract II. Introduction a. Thesis: â€Å"While many are defined by a dominant style of management, an effective manager is one who can adapt their management techniques to a variety as they arise. † III. Body a. Define autocratic Style i. Give examples of what situations require this style of management b. Define participatory Style i. Give examples of what situations require this style of management c. Define laissez 1 ii. Example 2 iii. Anti-Model IV. Conclusion a. Restate thesis and summarize the value of adapting to situational nuances V. Exhibits that may be relevant VI.

20th Century Literature Essay Example | Topics and Well Written Essays - 1000 words

20th Century Literature - Essay Example Humans produce their environment in a creative and beautiful way whether they are free of the yoke of physical needs or encumbered by it. They creatively prepare for their future activities and work out their production on the basis of their set priorities. Humans who are liberated from downright exploitations view their â€Å"life-activity† as an object of their own free will. Social consciousness is created through the establishment of legal and political foundations that are anchored in the human efforts to produce their social life via independently and requisitely becoming a member of a particular productive force. Relations of productions basically determine the fate of an individual’s productive growth in a specific social association. An individual has an independent or â€Å"pure† self-identity which stands apart from others. Yet, this uniqueness is shattered by the emergence of classes because of the forced dominant identity fashioned for each class; this partition between the personal and class distinctiveness is the merchandise of the bourgeoisie. In V.S. Naipaul’s â€Å"A Baker’s Story†, the protagonist who described himself as an extremely black man triumphantly composed a rag-to-riches history through hard work, perseverance, optimism, and faith. Social forces around him were unfavorable to his disposition and yet he was able to transform these societal restraints to his personal growth through experience and creative planning. He did not allow external realities to hamper his original human nature which is the drive to succeed and achieve a life that is not fettered by physical needs but instead a life that is governed by self-actualization and constructive realities. History, according to Marx, is not an independent entity but rather a documentation of human struggles to realize their objectives. Prior to his success, the baker experienced an impoverished life due to his

Mu2 Essay Example | Topics and Well Written Essays - 2250 words

Mu2 - Essay Example They should be taught how to deal with panicky situations, how to deal with emergency and to how to address their safety in such undesirable circumstances. Life safety is very important and given the context, it means trying to curb down un-necessary exposure to the harmful products due to combustion. There are three basic directions that need to be followed. The first one is to try stopping ignition, the second one is to control the outbreak of fire and the third one is to keep the humans safe from the byproducts of combustion. This can be done keeping in mind the concepts of either of the three of time, distance and shielding. The smoke and heat don’t develop instantaneously. They develop over time to create a harmful hazardous environment. There are a lot of variables involved and each of these variables varies in different circumstances so the rate at which this happens can’t be exactly predicted. The fire starts of as small and slowly gradually intensifies thus invoking a very hazardous environment in the process. The fire can be detected by either of the 2, through automatic means or by personnel detection. The real focus should be on what stage after ignition and heat buildup has the fire been discovered. It is that stage which will have a major impact on the life safety measures that would be taken up. It is not necessary that all the occupants at the site of the fire will react to it in the same way. The reaction of two different people will vary. The reaction of a single individual can also vary in different time frames, in different settings. It is not necessary that someone who reacts in a particular way at one point in time will react in exactly the same way three days from now. By reaction, it is meant, how humans react to smoke build up, to the flame, to the burns, to the hue and cry etc. There are some factors that help determine how humans react to fire situations typically. These factors are: Where age is concerned, the

Stigma of mental illness Essay Example | Topics and Well Written Essays - 750 words

Stigma of mental illness - Essay Example People who suffer from a mental illness not only â€Å"struggle with the symptoms and disabilities that result from the disease† but they also â€Å"are challenged by the stereotypes and prejudice that result from the misconceptions about mental illness, and as a result of both, people with mental illness are robbed of the opportunities that define a quality life: good jobs, safe housing, satisfactory health care, and affiliation with a diverse group of people† (Understanding the Impact of Stigma on People With Mental Illness, P.Corrigan and A.Watson, 16) Mental illness is perceived by society as an indulgence or a sign of weakness. Surely the affected person has brought it upon himself to live this way. It leads the sufferer to feel shame, to feel isolated and be socially excluded, to be discriminated against and be faced with stereotypes that are difficult to overcome. Even self-stigmatization can result which includes low self esteem, so the affected person not only feels stigma from society, but from themselves as well. (Stigma of Mental Illness and ways of Diminishing It, P. ... So why, as a society do we not attempt to educate ourselves about mental illness and why do we allow the stigma to continue? As a society, our beliefs are largely affected by the media; everything we think, believe, or discriminate against can be drawn from the media and its messages. Media is such a powerful tool and if used properly, can be a wonderful resource, but so often, the messages we receive are flawed. The Canadian Mental Health Association has compiled the results of many reports into its paper Mass Media and Mental Illness: A Literature Review (Dara Roth Edney, 2004). They found that the media repeatedly portrays people with a mental illness as being incapable of both developing opinions and speaking on their own behalf, as being unstable, unpredictable, disheveled, helpless, and appearing lost and confused, to lack comprehension and as being unproductive failures. The media also makes it appear that violent crimes committed by people with a mental illness are common and that the general public has reason to fear them. Imagine if it was you or a loved one battling a mental illness and having popular culture discriminate against you in this way. How would you feel and how would you want the messages that media sends us to change? While the majority of our media messages are negative in nature, there have been small steps taken to try to change the views of society. The television program Monk and the movie As Good As It Gets are both examples of stories that revolved around characters with a mental illness. Unfortunately these are just two examples in a medium that produces thousands of products each year. For society to fully accept the mentally ill as people and not as people with a problem, the media needs to step up

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The importance of the Roles Played by the Stock Market Assignment

The importance of the Roles Played by the Stock Market - Assignment Example The stock market has so many roles that it plays and the various roles are of utmost importance as a primary market  and as a secondary market  in the development of the economy. There are quite a number of the most stable, mature, and well performing stock markets around the world, for instance, London, Hong Kong and New York(Van Antwerp,W,1975)   The roles that the stock markets perform are very central to the development of any economy. By virtue of the primary markets being involved with new securities, this is where an investor interested in initial public offerings of any public company and also government bonds can easily go find them. In such a market, securities are sold to investors directly from the selling company itself. This makes trading at the stock market faster and easier. In the London stock exchange for instance ,one of the most common traded securities are the municipal bonds, this basically entails the direct purchasing of debenture from the concerned auth orities, for instance, the municipality. The London stock exchange put a lot of premium on these primary markets because to them, these markets are very important not just in strengthening the economy but also in as far as capital markets are concerned. The recent world financial crisis had, indeed, a great negative impact to the performance of the stock markets world over. The stock exchanges, for instance, does provide facilities related to issuance or redemption of securities and many other like capital events, income payment and  dividends. Securities that are traded on any given stock exchange may include  shares  that are provided by the unit trusts, companies,  derivatives as well as investment products such as bonds(Giddy,1994) Stock exchange is, in most cases considered to be the most necessary component of any  stock market. The stock market’s demand and supply is normally driven by so many factors which, in virtually all the fee markets, affect stocksâ₠¬â„¢ price. In any country the financial system tends to fund other areas from the haves and their surplus funds to the ones with a shortage in funds, by direct market financing or indirect bank finance. A country’s financial system and markets matters a lot in as far as the economic growth is concerned. The stock market plays a very big role in ensuring that the economy grows steadily. As much as some economists do not believe in the argument that the finance-growth kind of relationship between how well or bad the stock market is doing to the economic development.The economic development that is seen in any place always creates demands for certain types of financial arrangements, and financial system always tend to automatically respond to such demands. The stock market has natural mechanisms that help in addressing the issue of ensuring that a nation or a city has achieved what is considered to be the optimal financial system outlook. Overall, the stock market stabilizes th e financial system, together with other well-developed systems for instance a good legal system, and this is normally done by incorporating elements or aspects of direct market based finance and indirect banking based finance. A stable and well developed stock market ensures that that there is a stable and strong financial system in place

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Bones a book by Fae Myenne Ng - Essay Example It tells the story of the American dream seen from the perspective of a Chinese girl. As the focal point encircles around the question whether Leila is a reliable narrator or not it becomes important to understand the true meaning of reliability in literature. In literature a 'reliable narrator' is a character who presents the characterization in a manner that could be identified with. However, a 'reliable narrator' must always stick to historical facts and there should never be factual errors in that aspect. Characters can be made up but the background of the time and society should never be tampered. Leila is reliable in that context and definitely a 'reliable narrator'. Leila narrates her life with her family and about her surroundings along with a believable description of the socio cultural pressure of being successful within the parameters of the society with wider perspectives of American livelihood. The novel starts with the sentence mentioning that "we were a family of three girls. By Chinese standards, that wasn't lucky. In Chinatown, everyone knew our story. Outsiders jerked their chins, looked at us, shook their heads. We heard things." (Ng, 1) This can be enumerated as a definite example that depicts the socio cultural aspects of the Chinese born population where the society is dominated by the male heirs of the family.

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TECHNICAL REPORT WRITING - Assignment Example Lots of people use the internet to do their research but have never at one point thought of how this web browser operates. This web browser has been in the market and it has been competing harshly with internet explorer. Not every user of Mozilla web browsers achieves the full potential of its services. This report seeks to answer the question, ‘what is Mozilla Firefox and how has it been of help in our daily lives?’ How has end user documentation helped users of this web browser? Mozilla Firefox is used worldwide by scholars, scientists and everyone in general. From the basic uses such as to access an email address for accessing social sites. This means that it is a crucial link between humanity and the internet world. Without web browsers such as Mozilla Firefox, accessing the internet would not be possible. The main objective of this research is to understand Mozilla Firefox better, and the role it plays in the lives of individuals. Consultations with the advisor through email were a key factor in determining the research area. Having internet access is a prerequisite to accessing emails. Email consultations were the backbone of research topic and the research writing was influenced by the ignorance among users of Mozilla Firefox on how they blindly use this service. This explains the need for end user documentation on Mozilla

Bones a book by Fae Myenne Ng Essay Example | Topics and Well Written Essays - 500 words

Bones a book by Fae Myenne Ng - Essay Example It tells the story of the American dream seen from the perspective of a Chinese girl. As the focal point encircles around the question whether Leila is a reliable narrator or not it becomes important to understand the true meaning of reliability in literature. In literature a 'reliable narrator' is a character who presents the characterization in a manner that could be identified with. However, a 'reliable narrator' must always stick to historical facts and there should never be factual errors in that aspect. Characters can be made up but the background of the time and society should never be tampered. Leila is reliable in that context and definitely a 'reliable narrator'. Leila narrates her life with her family and about her surroundings along with a believable description of the socio cultural pressure of being successful within the parameters of the society with wider perspectives of American livelihood. The novel starts with the sentence mentioning that "we were a family of three girls. By Chinese standards, that wasn't lucky. In Chinatown, everyone knew our story. Outsiders jerked their chins, looked at us, shook their heads. We heard things." (Ng, 1) This can be enumerated as a definite example that depicts the socio cultural aspects of the Chinese born population where the society is dominated by the male heirs of the family.

Business Communication Essay Example for Free

Business Communication Essay Q 1. Describe any situation that you experienced where the communication went wrong because the listening was faulty. Analyze the situation by explaining the type of listening barrier. . How could this barrier be overcome? (10 marks). The following example illustrates an organizational barrier to communication. By the time the message is passed down from the Chief to the lower level Executives, it is distorted completely, so much so that the original message is interpreted differently by each level in the organization. Memo from CEO to Manager: Today at 11 o’clock there will be a total eclipse of the sun. This is when the sun disappears behind the moon for 2 minutes. As this is something that cannot be seen every day, time will be allowed for employees to view the eclipse in the parking lot. Staff should meet in the lot at ten to eleven, when I will deliver a short speech introducing the eclipse, and giving some background information. Safety goggles will be made available at a small cost. Memo from Manager to Department Head: Today at ten to eleven, all staff should meet in the car park. This will be followed by a total eclipse of the sun, which will appear for 2 minutes. For a moderate cost, they will be made safe with goggles. The CEO will deliver a short speech beforehand to give us all some information. This is not something that can be seen everyday. Memo from the Department Head to Floor Manager: The CEO will today deliver a speech to make the sun disappear for 2 minutes in the form of an eclipse. This is something that cannot be seen everyday so staff will meet in the car  park at ten or eleven. This will be safe, if you pay a moderate cost. Memo from Floor Manager to Supervisor: Ten or eleven staff are to go to the car park, where the CEO will eclipse the sun for 2 minutes. This does not happen everyday. It will be safe, and as usual it will cost you. Memo from Supervisor to Staff: Some staff will go to the car park today to see the CEO disappear. It is a pity this doesn’t happen everyday. Communication was filtered or misinterpreted because of the following barriers: Organizational Barriers – In organizations that are too hierarchical, that is, where there are multiple â€Å"layers†, messages may have to pass through many levels before they finally reach the receiver. Each level may add to, modify or completely change the message, so much so that it becomes distorted by the time it reaches the intended receiver. In other words, there is likely to be loss of meaning and the message may not reach the receiver in the same way as it was intended by the sender. Another type of organizational barrier is a departmental barrier. This means that each department in an organization functions in isolation and there is no co-ordination or communication between them. This barrier could be overcome by the following methods: 1. Encourage Feedback – Organizations should try to improve the communication system by getting feedback from the messages already sent. Feedback can tell the managers whether the message has reached the receiver in the intended way or not. 2. Create a Climate of Openness – A climate of trust and openness can go a long way in removing organizational barriers to communication. All subordinates or junior employees should be allowed to air their opinions and differences without fear of being penalized. 3. Use Multiple Channels of Communication – Organizations should encourage the use of multiple channels of communication, in order to make sure that messages reach the intended receivers without fail. This means using a combination of both oral and written channels, as well as formal (official) and informal (unofficial) channels of communication. The types of channels will be discussed in detail later, in a separate unit. Q 2. Select a business article from any business publication. Evaluate it in terms of : a) Appropriate level of readability b) Use of jargon, slang and metaphors c) Use of simple vs. complex words. Is it well or poorly written, in your opinion? Attach a copy of the article with your response. (10 marks) World Markets Rise As Double-Dip Fears Ease: World stock markets advanced modestly Monday as investors rode momentum from Friday, when an upbeat U.S. jobs report eased fears that the global economy could slip back into recession. With Wall Street closed for a holiday, however, trading was expected to remain light. Markets took heart after official data last week showed private employers in the U.S. added 67,000 jobs in August, more than analysts expected. The figure bolstered optimism that the U.S. will maintain a slow but steady recovery from last years recession and avoid another economic contraction later this year. By mid-afternoon in Europe, Britains FTSE 100 index was up 0.3 percent at 5,446.17, Germanys DAX was 0.3 percent higher at 6,153.31 and Frances CAC-40 was up 0.3 percent at 3,684.20. Asian indexes closed higher and trading on Wall Street was to remain shut for Labor Day weekend after closing higher on Friday. With most major governments reining in economic stimulus measures and many pushing through austerity spending cuts to reduce deficits, investors worry the global economy would be pushed into a double dip recession, particularly  as the U.S. slows down quickly. Because the U.S. economy is the worlds largest and consumer spending there accounts for a fifth of global economic activity, the stronger-than-expected jobs data on Friday helped calm investors frayed nerves after weeks of worrying indicators. The renewed flight to safety we have witnessed over the past month is overdone and risks an equally large reversal when the worries over a double dip subside, analysts from Rabobank said in a report. As the unexciting, steady and below-trend global recovery continues, its important not to confuse it with a double dip recession. Japans benchmark Nikkei 225 stock index climbed 2.1 percent, or 187.19, to 9,301.32 and South Koreas Kospi rose 0.7 percent to 1,792.42. Hong Kongs Hang Seng index added 1.8 percent to 21,355.77. Australias SP/ASX 200 gained 0.8 percent at 4,575.50. Markets in mainland China, Taiwan, India, Indonesia and Singapore were also higher. The Dow Jones industrial average jumped 1.2 percent to close at 10,447.93 on Friday. The broader Standard Poors 500 Index rose 1.3 percent to 1,104.51. Shares in the U.S. ended the week in the positive, the first time that has happened in a month. The early gains in September mark a stark turnaround from August trade, when shares fell on doubts about the global economic recovery. The dollar fell to 84.24 yen from 84.27 yen on Friday. The euro was slightly lower at $1.2880 from $1.2895. Benchmark oil for October delivery was down 40 cents at $74.20 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 42 cents to settle at $74.60 on Friday. Jargon refers to technical terms or specialized vocabulary. Some of the  technical terms mentioned above are â€Å"rode momentum, Kospi, FTSE, CAC, DAX, calm investors frayed nerves, etc.† More complex words and phrases are written in the above article and this reduces the level of readability when read by a common man. The above article is well written, however, the reader of the article should have a certain amount of knowledge in the field of stock trading and world financial markets. Q 3 List out and briefly explain five â€Å"do†s and â€Å"don’t’s† for each of participants and chairperson of a meeting. (10 marks). Before the Meeting As pointed out earlier, meetings need to be planned in advance, so that they are successful. Before any planning can be done however, a basic question to be asked is whether to hold a meeting at all. The answers to the following questions would help to decide whether a meeting is necessary in the first place – -Can the matter be decided or discussed over the telephone? -Can the matter be expressed in writing, in the form of a memo, or an email message? -Are key people available to attend the meeting and are they prepared? -Is the time allotted for the meeting sufficient? If the answers to the first two questions are yes and the answers to the other two questions are no, there is no purpose in calling a meeting. Once the need for a meeting has been determined, the next step is to start planning the meeting. First of all, the type and number of participants should be decided. A problem solving meeting should include representatives from all departments, since the decision would otherwise be incomplete. Shareholders, who are the owners of the company, should also be included. In terms of numbers, the size of the group could be anywhere between seven and eleven members. An exception to this is an information sharing meeting, where the numbers could be larger, so that a maximum number of people benefit from the information. The second and most important step in planning a meeting is to indicate the purpose or agenda of the meeting to the participants in advance. An agenda  is essentially a list of topics that will be discussed during a meeting. In the words of Adler and Elmhorst, â€Å"A meeting without an agenda is like a ship at sea without a destination or compass: no one aboard knows where it is or where it is headed.† An agenda is prepared by the Chairperson of the meeting, or the person who calls the meeting. During the Meeting: The task of conducting and moderating the meeting rests with the chairperson. He or she must be well versed with the procedures for opening the meeting, encouraging balanced participation, and solving problems creatively, concluding the meeting and managing time efficiently. We shall discuss each of these procedures in detail. 1. Opening the Meeting – The manner in which the meeting is opened is important, since a good opening will ensure that the rest of the meeting will proceed smoothly. There are different ways of opening a meeting. Generally, it is best to sum up what has been stated in the agenda – including the goals, background information and expectations of the participants. It is also a good idea to provide an outline of how the meeting will proceed, as well as a time budget. 2. Encouraging Balanced Participation – It is also the responsibility of the chairperson to encourage silent members to contribute to the meeting and to moderate the dominant members, so that they do not â€Å"hijack† the meeting. There are several techniques to encourage participation –  · Encourage Participation in the Reverse Order of Seniority – This means getting the junior members to speak or air their opinions first. If the senior people speak first, they may feel suppressed or be afraid to disagree with their superiors.  · Nominal Group Technique – In this method, the meeting participants are encouraged to work and contribute their ideas independently 3. Managing Time – There is no prescribed length for a meeting. The duration of a meeting will depend on the type and purpose of the meeting. Generally, problem-solving meetings will take longer than other routine meetings. In any case, the chairperson should set a time budget for the meeting, depending on the agenda and ensure adherence to the time limit. 4. Keeping the Meeting Focused – Often, a lot of time is wasted during meetings by going off track and by discussing topics that are irrelevant. In such situations, it is the responsibility of the chairperson, or the person moderating the discussion to make sure that the discussion remains focused on the topics mentioned in the agenda. 5. Ensuring â€Å"Convergence† – Convergence means hearing the points of view of all the members and then arriving at a decision. It is again the responsibility of the chairperson to bring the meeting to a point where an opinion emerges on each item of the agenda. 6. Summing Up – This means summing up the different points of view, the decisions and the actions to be taken. This should be done by the chairperson, identifying the role of each person on each item of the agenda, along with a specified deadline. Example – Chris will take the responsibility of contacting the media and sending material for advertisements and press releases by March 13th. 7. Concluding the Meeting – The way a meeting is concluded is as important as the opening, since it will influence the follow-up action taken on decisions made during the meeting. The chairperson should know when and how to conclude the meeting. The meeting should normally be concluded at the scheduled closing time, unless important issues still remain to be discussed and members are willing to extend the meeting. Sometimes meetings may be concluded before the closing time, when key decision makers are not present, or when important information such as cost figures are not available. 8. Keeping â€Å"Minutes† of the Meeting – Since meetings are called to take important decisions concerning the organization, it is important to maintain a permanent written record of the proceedings, which can be referred to at a later stage, or serve as a guide for action. Such a record is known as â€Å"minutes† of the meeting and may be done in an informal or formal manner, depending on the type of meeting.

Achieving Competitive Advantage In The Biotechnology Sector Commerce Essay

Achieving Competitive Advantage In The Biotechnology Sector Commerce Essay Biotechnology can be generally defined as the use of living things to create products or to do tasks for human beings. Biotechnology or biotech is used in industry, medicine and agriculture to produce foods, medicine, and test for diseases and remove wastes. (Biotechnologyonline, n.d) As such, there are different types of biotech such as green technology, red technology, and white technology and Bio fuels. In this report, we will have an insight into each of these branches of biotech and use various analytical tools to evaluate how knowledge management is playing a role in creating competitive advantage for companies in the sector. In so doing, we shall look at the Green biotech, Red biotech, White biotech and bio fuel respectively. Green Biotechnology Green technology, otherwise known as plant or agricultural technology is a branch of biotechnology (biotech) which involves the introduction of foreign genes into economically important species, resulting in crop improvement and the production of novel products in plants. (123biotech, n.d.). To better understand the role of knowledge management in harnessing a competitive advantage in this branch of biotechnology, we will take Monsanto as case example. Monsanto is the worlds leading green technology company ahead of rival such as DuPont. (SmartMoney, 2009). The company specialises in breeding (improving the genetic base through technology of crops thus increase yield and genetic engineering (by enhancing generic traits in crops such as insect resistance, herbicide tolerance and drought-tolerance). (SmartMoney, 2009 and Monsanto, n.d.) As with its sister braches such as bioinformatics, white technology(industrial biotechnology), red technology(pharmaceuticals) as well as biofuels, green technology and companies associated with it like Monsanto, are not left unscathed by critics. For instance, Monsanto and its counterpatrs , through its use of plant technology has been criticised of endangering human, the environment and socio-economic.( Friends of the earth, 2006). Significance of Green Technology However, the following advantages are beign celebrated by its supporters: Protection of Crops: for instance, the AT-DBF2 gene from Arabidopsis Thaliana crop injected into plants to enable them withstands Osmotic stress such as drought, salt and stress. (PNAS, n.d.) Increase Crop yield: during the teething years of biotechnology in term of Genetically Modified Food, there has been a widespread criticism of GMO claiming that GM Crops do not increase crop yield, that on the contrary it, reduces it. (Truth about Trade and Technology, 2009). These claims were dismissed by the then USA president Jimmy Carter who stated that, responsible biotechnology is not the enemy; starvation is. (Biotechnology Industry Organisation, n.d.)His favourable stance towards green biotechnology because of organisms like the Bacillus Thuringiensis used to produce the BT-corn. Introduces in 1996, the Bt corn has the potential to simplify management and effectively control corn borers throughout the season thus increasing its yield. (College of Agriculture, n.d.) Improved Food Quality: an example of this was the invention of the Golden Rice by Prof Potrykus and Prof. Beyer of ETH-Zurich and University of Freiburg respectively. The Golden rice is believed to alleviate Vitamin A deficiency in young people especially in the developing world. (Golden Rice, n.d.) Another example is the Maltogenic Amylase used for Retardation of staling in baked food, such as bread and cakes. (Food and Agriculture Organisation, 1997) Having had an insight about how green technology functions, its pros and cons, it is now essential to discover how companies like Monsanto use knowledge management in harnessing and safeguarding innovation in order to create a sustainable competitive advantage against rivals like DuPont. Knowledge Management as a competitive advantage vehicle. To understand the role knowledge management in achieving competitive advantage for biotech companies such as Monsanto, lets apply the Resource-Based View of strategy coined by Grant (1991citied in Henry, 2008). This analysis seeks to analyse how a company exploits its resources to achieve a sustainable competitive advantage against its rivals in the industry. (Henry, 2008) A resource-based view of strategy analysis Consumer Confidence, First Mover Advantage, Tap blue Oceans, CAPABILITY Fund expensive RD, New Product Development RESOURCES Finances, Experts, Human Capital COMPETITIVE ADVANTAGE Knowledge power, Experience curve STRATEGY Differentiation (Grant 1991 cited in Henry 2008) Step 1: Resources: Biotech industries such as Monsanto go beyond the ordinary in Identifying and attaining young talent; because technology can easily be rendered obsolete, there is always the never-ending necessity to pool talent and innovate. Thus, biotech companies like Monsanto are in collaboration with renowned sciences universities like Truman State University to recruit outstanding students with sound sciences background. (Monsanto, n.d.).Furthermore, with their immense finance capability, they are able to fund and exploit these talents. Step 2: Capability: with their finance abilities, these biotech companies are able to fund rigorous Research and Development: Monsanto reported spend $2.6m dollars a day in research and development on how breeding and genetic engineering could develop corn, cotton and soybean seeds that yield more bountiful and nutritious crops and protect against bugs and weeds. (SmartMoney, 2009)This paids off has the company as been able to develop leading brands such as Acceleron, Roundup Ready,Asgrow and Yieldgard for plant resistance to osmotic stress as well as De Ruiter Seeds,Dekalb and Deltapine(Monsanto, n.d.) Step 3: Competitive Advantage: consequently, Monsanto is able to acquire a sustainable competitive advantage due to its ability to create Knowledge power and experience curve on producing competitive and fast selling products like its renowend leading brands like , Acceleron and Roundup Ready Step 4: Strategy: as a result, Monsanto adopt a differentiation strategy. This diferentiation strategy is typical of biotech companies with exception to biofuel companies as they end result; fuel, once drilled and refined is standard worldwide. Step 5: Bridging any resources Gaps: this calls for proactiveness from the part of the company as it involves identifying where the company is weak and formulating adequate strategy to address such weaknesses or resource deficeincies. For instance, tapping blue oceans or untouched markets to increase the companys economies of scale (Henry, 2008) Knowledge Protection in Biotech Use of copyright and licensing: to safeguard knowledge and innovation the company licenses seed germplasm or biotechnology traits to approximately 200 seed partners in the United States. (Monsanto, 2009) In summary, it can be argued that because of the level of technological innovation that occurs in the biotechnology such as green technology, its both a key and critical success factor for company to effectively and efficiently management knowledge by harnessing and protecting its knowledge thus maintain a competitive edge. This we have evaluated using the resourced-based view of strategy analysis coined by Grant (1991 citied in Henry 2008). Red Technology Introduction: The term biopharmaceutical means that developing medicines from using living cells, proteins and nucleic acids. None of the two biopharmaceuticals can be same. Over the past decade world has seen enormous development in this sector. Part 2. The Value Chain Procurement Technology Development Human Resource Management Firm Infrastructure Post Sales Service Inbound Logistics RD Production Marketing Sales MARGIN MARGIN Adopted from Micheal E. Porter Competitive Advantage: Creating and sustaining Superior Performance. (1985 p.37) A lot of researchers like Porter (1985, p36) Henry (2008, p103) have emphasized the importance and application of Value chain analysis. We can assess the strength and weaknesses of any biotechnology company by looking at its resources. It expresses important information about strategy and focus of a particular company. By identifying key focus areas, companies can concentrate in achieving competitive advantages. Biotech companies tend to elongate their value chains by getting into alliance with the business partners; this can either be done by incorporating the concept of upstream or downstream value. Henry (2008, p103) depicts the importance and benefits of adopting this strategy. By exploiting the resources of partners, a biotech company can maximize operational efficiency. This operational efficiency leads to achieve competitive advantage. Each industry sector is unique in terms of function. Biotechnology industry, mostly being a manufacturing industry always works differently as compared to a service industry because of the fact that primary and support activities vary from industry to industry. Porter (1985, 38-40) also supports this fact. Like most of other industries, knowledge management plays a vital role in biotechnology sector and is considered to be a primary activity. Prusak as cited in Young (2008, p5) states that knowledge management is all about the information that is in the brain of individuals as an asset and how it is used to leverage into corporate asset. In biotechnology, explicitly it can be transformed into a corporate knowledge paradigm. This idea is also supported by Gorelick, April and Milton. (2004). In biotechnology sector, even if you look at any sub-sector of biotechnology, industry innovation is the foremost weapon to achieve competitive advantage. Cooke and Mayes (1996, p.13-15) also established relationship of innovation and competition. This mean that by innovation biotech companies achieve competitive advantage and in turns get increased market shares with higher growth rates. The innovation is leading to new effective products thus enabling biotech companies to achieve competitive advantage. By looking at the value chain analysis of biotech industry we come to know that the most valued activity is innovation and knowledge management. That is why biotech companies invest heavily in research and development (RD). For biotech industry RD part of value chain is much more focused and valued. In biofuel, biofood and bioagri the value chain is more or the less same, but when we look at biopharmaceutical and bioinformatics, the value chain tends to alter itself a little bit. The activity that also affects biophrmaceuical is that the phase of clinical trial demands a lot of time, capital and management. Procurement Technology Development Human Resource Management Firm Infrastructure Post Sales Service Inbound Logistics RD Production Marketing Sales MARGIN MARGIN Clinical Trials A typical value chain for biopharmaceutical company. Knowledge is a scarce resource and that is why there are very few biotechnology companies in the market. Adopted from Tzokas, N. and Saren, M. By looking at the above figure it is clear that knowledge management is difficult to achieve. Companies transform their knowledge-based and skills-based information with equipment-based knowledge to create competitive advantage. Theses factors build an organizational culture of innovation and the stake holders like employee and customers force company to come up with new ideas We need to investigate about the potential contribution of each stakeholder-based knowledge pool to the strategic investments, plots and projections undertaken by the biotech firms. The long term development effort needs trust relationship from stockholders that the deliverable of RD can result in to a competitive advantage. This can be done by making multidimensional plans linking knowledge requirements and knowledge pools, thus evolving a knowledge space in which the strategic issues of the firm and its stakeholders can be positioned. As such knowledge space and associated distances can be used as navigational instruments for knowledge utilization. White Technology Biotechnology is now used as a very wide term, but we can say that in general term that it the use of organisms by human . In recent years and past also researchers all over the world got new techniques and ideas to develop biotechnology and changing the future. the most known invention of biotechnology is cloning of animal as well as of name. This amazing technology works at visual as well as molecular level. INDUSTRIAL BIOTECHNOLOGY Industrial biotechnology is recognized everywhere in the world weather to prepare consumer goods, material, chemical.( www.liebertpub.com,12:04) Industrial Biotechnology is the premier forum for this critical field and the only publication bridging biotechnology RD with later-stage commercialization for all industrial and environmental applications . it include fooding items ,textiles, automobiles, pharmaceuticals, cosmetics and body care products and many other products which we use in our daily life. The growing companies in many countries are taking help of biotechnology. By this companies make promise to the public to deliver new and improved products to their customers. Industrial biotechnology is of two types red and white. Red technology is now ignored by the companies and very less companies are dedicated with white biotechnology. PEST ANALYSIS POLITICAL FACTORS The first and the foremost factor to go through in pest analysis is the political factor. Researchers has emphasizes a lot on this factor. One such researcher is Jobber (2007, p79) who is of the opinion that Political and Legal issues can influence marketing decisions by setting the rules by which business can be conducted. Union Laws, Collusion, Abuse of market dominance, acquisitions and mergers, state aid and national laws are few of the political factors that reshape the companies. This factor includes all the political effects which affect the company or an organization. In some business political issues are much higher than any other companies but in case of industrial biotechnology government supports it and make policies to amend it or to improve it so that the future of a country can get improved and standard of living can be increased. All those organizations which do experiments on different methods of industrial biotechnology, government gives rebate from taxes pass legislations and create new departments to look at their working procedures. Strong legislation makes the Through legislation biotech companies are getting their products and processes patented. The biotech companies usually invest heavily in RD and come up with innovative products; these deliverables are end result of knowledge management. By getting the patent biotech companies make sure that their intellectual property right is secured and hence they achieve competitive advantage as no other company can imitate that. In the case of biopharmaceutical, the main governing body is FDA (Foods and Drugs Administration, USA). FDA ECONOMIC FACTOR Economic environment is the second most important factor in PEST analysis. Factors that affect consumer buying power and spending patterns Kotler et al (1999, p158) As evident from the various researchers, monetary policy, interests and exchange rates, income distribution, change in purchasing power, change in spending patterns, availability and rising cost of energy, labor and raw material has lead to significant changing in business world. World economy is in recession, so is the case of UKs. Unemployment ratio has gone up; peoples purchasing power is going down with a less savings. People are naturally focused more on spending towards necessities. Incomes are low. In this case consumer will move toward those products which saves their money and bio-products are one of those products which are cheap and reusable without damaging the envoirment and causing pollution. Envoirment issues are to be considered when it comes to shopping point of view and traveling. Legislation Banerjee, (1998) as cited in Charter and Polonsky (1999, p31), states that The threat of tougher legislation and the rising costs of complying with environmental regulations are possible motivating factors for firms to incorporate environmental concerns in their strategies. Tougher legislation can affect a firm in two ways: first the cost of compliance becomes prohibitive, second, legislation can require substantial changes in product or package design or distribution channels. (Taking back used thing) Public Concern Another important reason for firms to develop an international orientation and strategy is the rise in public concern for the environment. There are literally hundreds of opinion polls on the environment conducted in Europe, Asia and USA. Charter and Polonsky (1999, p32) The need to maintain a good public image and respond to public concerns can lead to firms adopting corporate environmentalism. Charter and Polonsky (1999, p33) Need for competitive advantage There are numerous cases where the installation of new environmentally friendly technologies has reduced costs for firms Charter and Polonsky (1999, p35) Social factors Social / cultural factors include Demographics forces, World Population growth, Age distribution, household structures and social factors. According to Kotler et al (1999, p153) the European and American societies are evidencing huge demographic shifts. Technological Factors Kotler et al. (1999, p165) Forces that create new technologies, creating new product and market opportunities. Those companies which have good knowledge about the new products can develop those and can attract new and existing customers. By this method apart from new technology awareness among public will also able to increase. Companies with better knowledge will develop new products in order to spread awarness among all sectors of consumers. Bibliography? Biofuels Introduction Biotechnology Biotechnology is the use of biological processes, organisms, or systems to manufacture products intended to improve the quality of human life. Biotechnology is an important innovative tool to attain The target the various levels example Bio fuels Bio informative, Bio medics, agriculture Biotechnology proficiency can serve to increase biomass yield, improve crop quality, and convert agriculture waste into bio fuels. (whatistechtarget n.d) Bio fuel It is also knows as agro fuel, these fuels are mainly derived from Biomass or Bio waste. Its often derived from plants and animals. Bio fuel is used faster growing modern technology for transporting sector. Liquid form of fuel is required for most vehicles is this convenient for storage and delivery, hence the bio mass is converted to liquid form. Bio fuel plays a virtual role in modern fuel manufacturing as they are renewable source of energy. Ethanol is the most commonly used Bio fuel in the world particularly in Brazils and largest exporters Asia, Europe and America are the some major producer of bio gases Lleading fuel companies like Bps and Shells company they involved in research and development in bio fuels. (biofuel,n.d) Generic strategies Porters alter the system by reducing its down to three best strategies. Overall Cost leadership Differentiation strategies Focus strategy strategies Overall cost leadership: A firm produced standard product by low cost and also take responsibility of economic scale and experience curve effect. market share is advantage. Differentiation strategies: A company is aimed at broad market. the product must some special feature like advance technology, brand image, etc Focus strategies: In this focus strategies a firm concentrated in market and particular group of consumer. (Reference) Overall cost leadership ? Bio fuel are the cheapest form of fuel you can ever get they dont need big investment in new distribution system but just the basic establishing plant is enough to produce them bio fuel mostly involves in long term investment. Hence Initial investment is very crucial. Its been assessed that share holders all over the world show keen interest in investing huge amount of money in this upcoming promising sector. Differentiation strategies? Bio fuel is renewable source of energy unlike others fuels they have less emission of air pollutants. Hence they are environment friendly; they are very low cost so they can match all the price of leading fuels. The impact of Hybrid cars and green cars with play a massive role in decreasing global warming. Focus strategies? Bio fuel industry will create a big employment opportunities all over the world and helps the countrys economy to develop as well. They provide jobs at all levels even form farmers to scientists. This industry has been welcomed by all countries and they are trying to be innovative to improve this sector all over the world. Most government offer discount and tax reduction on green cars thus encouraging people to buy them. This difference makes the bio fuel market to be more competitive in the fuel market. In forward planning about the global warming all nation now concentrate on bio fuel as they play a vital role in helping to control the pollution. APPLICATION OF PORTERS THEORY TO BIOTECHNOLOGY INDUSTRY Biotech industry has a varied range of applications like in agriculture, molecular biology, health care, pharma sector, chemical industry, environment related and so on. Porters five forces theory helps us to understand and interpret the business processes. This knowledge can be translated to gain a competitive edge over the competitors. This theory is also used to assess the profits that can be generated in the proposed business scenario or the services or products. According to this theory, the five forces that decide the competitive power of the firm in the industry are as follows, Threat of new entrants In the biotech industry, intellectual property is the most important asset. The firms in this industry are heavily dependent on funding to sustain the research and development activities. And very negligible revenue is generated by the firm till the product is developed. So finance is one of the major barrier that keeps away new entrants from the industry. Another barrier that deters the new entrants is the want of specialized knowledge in the area of research or development. Patent rights and proprietary rights also act as barriers to some extent. In some cases where knowledge and patent rights are easily overcome, many small players come into the picture. Although entry is easy for smaller companies, sustenance would be very difficult in this industry. Suppliers As discussed earlier, intellectual property is the most important asset in this industry. The biotech firms usually do not heavily rely on the suppliers. The tools, kits, equipment, chemicals and all other requirements are highly specialized. However small companies who either fail to explore new channels of distribution or who cannot afford the traditional channels of distribution, are at a loss, as they are compelled to enter into marketing alliances. Buyers The power of buyers is not uniform throughout the biotech arena. Earlier, the pharma companies were not affected by the buyers as the customers did not have or had a very little say about the product. The pharma companies had marketing alliances with the hospitals, pharmacists and agents. So the buyer power was less. In case of firms where the major purchasers are the governments or the hospitals, the buyers are strong. But now the health care companies, insurance companies and common man have entered the arena. The increasing price sensitivity of this new group of buyers is forcing the biotech companies to cut the prices and therefore the profit margin is becoming less. In addition to this, governments in some developing countries are pressurizing the biotech companies to take some social responsibility. ( as in the case of providing vaccines for epidemics at an economical price.) So there is a clear shift and the buyers power is increasing. Substitutes The availability of substitutes also depends on the kind of bitech firm/product. If the knowledge and patent rights are not properly protected, the investment in Research and Development (R D) cannot be recovered. If the patent can be easily overcome, some other company can simply copy the formula/application to offer the product at a much cheaper price. So the formulae/knowledge are to be carefully guarded through patenting and Intellectual Property (IP) rights. In some cases, cheaper chemical product alternatives may be available to the sophisticated and more accurate biotech products. Rivalry The competition rivalry is too intense in the biotech industry. Market analysis shows that only 1% of the biotech firms manage to make a profit. Biotech industry is largely dominated by few large firms although there are hundreds of smaller companies. All the firms are struggling to translate their RD efforts into a breakthrough innovation/product. This innovation could potentially change the fate of the firm overnight. So the Intellectual Property is carefully guarded and the rivalry is extremely high in this industry. For example, In U.S, 82 % of biotech firms make 0 % profit, 76 % of firms have less than 50 employees and only 30 companies have more than 300 employees. Porters five forces theory certainly helps in understanding the pros and cons, the opportunities and threats in the business situation. This theory definitely aids in evolving a business strategy. but this theory may not be of great help in assessing the degree of ease or difficulty or profitability in dealing with the business situation. In this context, this theory does not consider the following strategic influences like, Industry merges and acquisitions have become the norm of the day and the consequences of such deals cannot be assessed and is not taken into consideration. Research and innovation has the potential to dramatically change the face of the industry. As new discoveries/innovations occur, many new threats/opportunities spring up. This makes the biotech industry a highly vulnerable one. This aspect is left out by the theory.