Process design for Riordan Manufacturing Essay Example | Topics and Well Written Essays - 1250 words

Process design for Riordan Manufacturing - Essay Example A new process design for the production of Riordan electric fans will need designs associated with material requirements planning (MRP), supply chain processes, production forecasts, and implementation plans.The MRP helps in specifying when production and purchase orders must be placed for each part and subassembly to complete the product on schedule Effective planning and controls associated with the supply chain process and demand can help in inventory management. Demand variations are the norm in the business environment; therefore, supply chain processes, forecasts, and implementation plans have to include the flexibility necessary to cope with demand variations. Material Requirements Planning The reason companies use an MRP system is to â€Å"approach problems, determine the number of parts, components, and materials needed to produce each end item. MRP also provides the schedule specifying when each of these materials, parts, and components should be ordered or produced† (Chase, Jacobs, & Aquilano, 2006, p. 630). Riordan’s facilities for parts and facilities for production are in different locations. In order to keep up with everything that Riordan is doing and desires to do they must implement an MRP system that will allow them to manage inventory and production schedules. It will also allow them to keep up with production output and will make sure they are utilizing and operating at maximum capacity without overloading the production process by monitoring all aspects and all locations involved in production. An MRP system will further improve Riordan’s level of customer service and track billing, inventory and all other areas of production and delivery in one system in which all locations are on the same page. The system will allow triggers for ordering, slowing and speeding up production, parts, etc maintaining a consistent level of operation and low inventory based on need. New Process Design Changes in three areas of process desi gn can have a tremendous impact on Riordan’s China plants efficiency and in turn allow Riordan to achieve higher profits through higher on-time delivery of their products. Electric Motor delivery issues In the current process Riordan has outsourced its electric motors for their fans. The company they use is a local Chinese company that only has a 93% on-time delivery average. Riordan may realize greater on-time delivery if this process was not outsourced but moved in-house. This would ensure a higher on-time delivery of a much needed part for the fans they produce. Orders and shipping/delivery The current forecasting method for fan production is based on the last three year sales average sales. The shipping method for local orders is that they can be picked up at the plant, which is good because there is no show room or warehouse cost associated with storing the unsold fans. Fans to be delivered within China, Riordan use a local company, much like UPS or FedEx. For internatio nal deliveries Riordan uses FedEx. 31.6% of the population in China has Internet access (Internet World Stats,  2010). The use of the Internet as an ordering tool to allow potential customers, both individuals and businesses, to place orders would both stream line the ordering process as well as allow Riordan to forecast better the number of fans to produce. Special Order Fans Riordan also produces a certain number of fans for special orders that would be produced with special specifications. Riordan designs the new fan according to customer’s specification. Once the fan is approved, a small number of the fans are created under a separate contract. There are no forecast numbers for special orders. Riordan would benefit here from a website aimed at past business customers to allow them order or reorder past products. Supply Chain Process Strategic

Humanities Today Essay Example for Free

Humanities Today Essay The academic discipline known as humanities is the study of how man interprets the world around him. The study of humanities has been around since mankind began investigating and questioning the world they lived in. According to the article What are the Humanities?(2000), when the National Endowment for the Humanities was established in 1964, Congress created the following definition of humanities which included the study of:history; literature; philosophy and ethics; foreign languages and cultures; linguistics; jurisprudence or philosophy of law; archeology; comparative religion; the history, theory, and criticism of the arts; and those aspects of the social sciences. In this definition the key point for distinguishing humanities from other modes of human inquiry is the fact that humanities are based on historical and expressive interpretation rather than theory and logic. Humanities inquire about the humans interpretation of his or her surroundings. The inquiries come from the general population or an individuals own expression of human reaction to historical events and the way that it is expressed through art, science, politics, literature, music, architecture, and religion. Other modes of human inquiry are based off of proven facts and scientific theories. A persons interpretation has little to do with science (What are the Humanities, 2000). ArtOne of the more controversial ways that the arts have been affected by modern humanities is the showcasing of human bodies as art. An exhibition called Gunther von Hagens BODY WORLDS: The Original Exhibition of Real Human Bodies is now touring the United States. This exhibition displays human bodies that have been plasticized, doing various normal human activities. Some displays have cadavers in the middle of making a shot in basketball, while others displays a family sitting around a kitchen table. In this day of rapid technological advances, it is sometimes hard to distinguish pure art from criminal activity. At fist glance most people are amazed to see that technology has allowed a concept like this to be possible. Many people feel that there is much to be learned about the human body through this display of art. On the other hand many people are outraged by the exhibit calling it a denigration of the human spirit. Others have  called it a criminal act. The companies that process these human bodies are currently being investigated by the U.S. government. Many fingers have been pointed at China for having a black market for cadavers. No one knows for sure how the companies even come across so many cadavers and if the persons permission was given. One thing is for sure that this form of art represents the mind set of the world today. This tiny fraction of the art world represents the change in religious beliefs, technology, and artistic expression today (Cattani, 2008). MusicMusic is definitely an area that changes through the attitudes and expression of past generations, especially in the African-American community. During the time of slavery music was a way for slaves to capture some of the heritage that was so violently taken away from them. Similar to musicians today, one of the way slaves used music was as a way to express the way they felt about the environment around them. Many songs from those days represented oppression and sorrow. Some other songs represented times of joy or the hope of overcoming oppression. Slaves also used music for celebration, communication, and mourning (Slave Songs, n.d.). Todays African-American community still uses music in some of the same ways. Times have changed. Slavery has been abolished but from slavery there arose racial separatism, feelings of hate between the races, and distrust of Caucasians by other races. This is where the harshness and intentionally angry voice of gangsta rap is derived. This genre of music is an outlet for young African American males to voice the inequality and unjust behaviors that they feel from society. ArchitectureFrank Lloyd Wright is one the foremost fathers of modern American architecture. He believed that past methods for architecture were relied too heavily. Wright made it a point to reject the 19th century European architecture that people were used to. His style was attributed to the blocks he played with as a child and from modern Japanese architecture. Since the world was going through a new industrial period, Wright felt is was necessary to include materials that emphasized the world around him. He began to use materials such as steel and glass in his architecture. Open  floor plans with few walls separating rooms were also a turn from traditional architecture (Modern Architecture, 2007). PhilosophyOne of the noted pioneers of modern philosophy is John Dewey. Among other branches of philosophy, Dewey was relentless on the subject of experimental education. Dewey believed that the current method of education was more concerned with feeding children information rather then learning from the childs experiences. Dewey believed that it is the educators responsibility to facilitate learning in a way which accounts for each students uniqueness. Today, many school philosophies are still based on Deweys theory of experience (Neill, 2005). LiteratureThe information age has had a lasting effect on modern literature. Through T.V., the internet, and the media information is capable of being exchanged over long distances in a very short period of time. Mankind has shown a hunger for information in modern years. In the 21st century literature related to true events have become very popular. Because of this, the status of celebrities has somewhat fallen. The people who used to be held as iconic figures have become as human as everyone else today. Instead of the imaginative fiction literary works that used to be the norm, today autobiographies and tabloid magazines are flying off the shelves. The situation only reflects the information driven society from which it comes. The study of humanities is an ever changing journey. Humanities will changes with the questions and expression about every generation to come. Humanities are unique in that a quest for the purpose and meaning of the human life is being sought. As time goes on, the study of humanities will be become broader, taking with it all the questions of yesterday. References Cattani, T. (2008). Human cadavers on displayas an attraction?. Retrieved February 22, 2008,from Living Lake Country Web site: http://community.livinglakecountry.com/blogs/from_another_side/archive/2008/02/15/human-cadavers-on-display-as-an-attraction.aspxModern Architecture, (2007). Retrieved February 22, 2008, from Microsoft Encarta Online Encyclopedia Web site:

Ethics and Moral Reasoning Essay -- Morality/Ethics

Aristotle's Virtue Ethics Aristotle in his virtue ethics states that a virtuous individual is someone with ideal traits. These characteristic traits normally come from an individual’s innate tendency but should be cultivated. After they are cultivated, these character traits supposedly become stable in an individual. Moral consequentilaists and deontologists are normally concerned with universal doctrines that can be utilized in any situation that requires moral interpretation. Unlike these theorists, Aristotle’s virtue ethics are concerned with the general questions such as â€Å"what is a good life†, â€Å"what are proper social and family values†, and â€Å"how should one live† (Bejczy 32). Aristotle developed his virtue ethics based on three central principles; eudaimonia, ethics of care, and agent based theories. Eudaimonia stipulates that virtues can be seen in the way an individual flourishes; flourishing under this concept refers to one’s ability to perform their functions with distinct accuracy (Bejczy 33). The distinct function of humans according to Aristotle is reasoning, and a worthy life is characterized by good reasoning. The agent based theory places emphasis on the fact that virtues are determined by common institutions people use to label traits in other people as admirable. According to Aristotle’s virtue ethics, a virtue like honesty does not necessarily refer to the tendency of people acting honestly, or the classification of the virtue as a desirable trait. Instead, Aristotle purports that the virtue of honesty is predisposed and entrenched in an individual (Bejczy 34). In virtue ethics, therefore, an individual cannot be labeled as honest since he is not cheating, or by observing the honesty in one’s dealings. In addi... ... the majority, rights become the greatest good (Troyer 60). Conclusion Aristotle's virtue ethics argue that morality should be based on an individual’s ideal traits that are internalized as opposed to observing outward actions or the consequence of his/her behavior. Kant on the contrary argues that for an individual to be considered morally upright, then his/her actions should be based on duty. Mills maintains that if an action provides long-term pleasures to the majority, then it is morally upright. Works Cited Bejczy, Istvan. Virtue ethics in the middle Ages: Commentaries on Aristotle's "Nicomachean Ethics", 1200 - 1500. Leiden: Brill, 2008. Print. Troyer, John. The Classical Utilitarians Bentham and Mill. Indianapolis: Hackett Publishers, 2003. Print. Wike, Victoria S. Kant on Happiness in Ethics. Albany: Albany State University Press, 1994. Print.

Qualitative Study on COPD Essay

This is a qualitative study conducted at the University of Texas Health Science Center at Tyler as a randomized controlled trial to determine the effectiveness of a lifestyle behavioral intervention to increase physical activity among patients with moderate to severe COPD. (Wortz, K. 2012) 54 patients of age 45 or older were randomly selected from April 2010 through January 2011 using a patient registry database with a coded diagnosis of COPD along with physician referrals. Data collection consisted of: baseline, demographic, clinical and self-management needs, smoking status, spirometry, 6-min walk distance, BMI, Obstruction, SOB, Exercise Capacity (BODE) index, Chronic Respiratory Questionnaire (CRQ); which includes 10 open ended questions and Geriatric Depression Scale. A sample of 47 interviews with the mean age of 68.4 years old, 53% male, 87% white were used in the analysis. 57.5% has moderate COPD, 31.9% sever COPD, and 10.6% very severe COPD. (Wortz, K. 2012) The results of this analysis suggest that the content of self-management support with COPD should focus on addressing patients’ fears associated with the uncertainty, progression, suffering of their disease, expectations about overcoming or replacing losses, their needs for improved health literacy and their desire for improved care. Attention to these areas may enhance patient self-efficacy and motivation to improve self management.

Maman/Louise Bourgeois

Louise, a twelve year old girl drawing missing segments on a tapestry for her parents’ tapestry repair shop lives her life lacking the knowledge of what she is going to be when she grows up. She begins to study math which she loves to do, but she had no idea that her studies had a close association with her exceptional drawing skills. One day, coming home from school, she walks by a tapestry, and begins to reminisce about the times when she had to draw them, so it struck her. She wanted to focus her studies in art. As she began to study art, she soon found out that she also exceeded in painting. She started out small, but her hard work and determination got her to the well-known artist that we know today as Louise Bourgeois, the artist of Maman. Any art piece can have multiple interpretations depending on how you look at it, but knowing the artist’s background will give you a complete understanding of their work of art. In addition, breaking down the artistic terms and one’s interpretation on a work of art are vital and usually different compare to other spectators. Knowing the artists’ background can be quite intriguing because it shows the reason and the process of creating their art, but for Louise Bourgeois’ background, it was straight forward. She was born on Christmas day, December 25, 1911, in Paris, France and now today living in New York at age 98. Her parents anticipated that she will be a boy, and name her Louis Bourgeois after her father’s name. Despite being a girl, she still retained the name, Louise Bourgeois. She is the second oldest of her siblings, but she is actually the third oldest because the first baby died. Her older sister is six year older than her, and her younger brother is one year younger. They lived above a tapestry gallery which belongs to their parents. In 1932 when Louise passed her high school exam, her mother passed away naturally. Family members were a great deal to Louise. Each member of the family has a special part of the family’s role. While studying art and painting art pieces, she met an American art historian, Robert Watergold which she married in 1938. They adopted an orphan boy named Michel which made them move to New York. She felt guilty leaving France, but she wanted to be able to care for the orphan boy. When they moved, she gave birth to two sons in the U. S. Shortly after giving birth, she began her painting career and soon started sculpting abstract sculptures. Her art work was displayed in many museums all over the United States. She regularly exhibited her art work in museums and was an active member of the American abstract artist group. Next, she transformed her paintings into sculptures. An example of such pieces is the sculpture, The Nest in the 1990’s, which is a group of spiders with the mother watching over the little ones. Later she made a giant spider called, Maman and was first displayed outside the Tate Museum of London in 2000. When you walk by Maman, the art piece just captures your attention and draws you in. Once you are in front of this breath taking sculpture. You wonder what is underneath it; how big is it? Well, Maman means mother in French. It was first put on show outside the Tate Museum of London in 2000. The sculpture Maman is a 30 feet tall female spider constructed of stainless steel. The whole sculpture is colored black, and beneath the body, there is a sac attached to the body of the mother spider in which she carries 26 pure white marble representing eggs. In addition, there are eight long thin legs supporting the sculpture to stand up. While assembling the sculpture, Bourgeois paid careful attention to details, such as positioning the legs and detailing the legs in order to attain a well-balanced structure. The sculpture emits a strong aura with all the little details put into it. Besides the original stainless steel version owned by the Tate Museum, London, there are other several brown bronze casts, located at: Kansas City, Canada, Tokyo, Boston, Cuba, and many more. The three main artistic terms are subject matter, content, and artistic form which I will be breaking down in this sculpture. First the subject matter. The sculpture is an image of what appears to be a giant spider with a sac of eggs and eight long thin legs. Secondly, content. The giant spider looks threatening, but the eggs that she embraces in her sac give her a sense of weakness. Louise attached the sac of eggs underneath the spider’s body demonstrating that the spider is more of a mother figure like than a predator. This spider was a tribute to her mother. Ms. Bourgeois said in a statement. â€Å"She was my best friend. Like a spider, my mother was a weaver. Like spiders, my mother was very clever. Spiders are friendly presences that eat mosquitoes. We know that mosquitoes spread diseases and are therefore unwanted. So, spiders are helpful and protective, just like my mother. † (Marie-Laure Bernadac 10) The oversize spider is also frightening which also means pain and fear to some others. So when one walks by, they can reminisce about the old memories of pain or fear. Louise Bourgeois said. â€Å"My sculpture allows me to re-experience the fear, to give it physicality so I am able to hack away at it. Fear becomes a manageable reality. Sculpture allows me to re-experience the past, to see the part in its objective, realistic proportion. † (Marie-Laure Bernadac 8) Finally, artistic form, where she placed the sac of eggs beneath the spider’s body, and the in depth designs on Maman’s legs; especially the size too. From my point of view, I wondered why she made this one so tall compare to all the other spider sculpture she made. Another spider sculpture she made is called The Nest which I have seen in person. The Nest is similar to Maman because Maman has a sac of eggs beneath her, and The Nest has smaller spiders beneath the tallest one in which it is the mother. Since The Nest is about 6 to 8 feet tall, it is saying that we are the predators because it is almost the same height as us. Why does one compare the spider to us you say? It is because we squish them when see them at home. Now she made a bigger and taller sculpture which we all know is Maman; it is saying that we are endanger now if we got too close to her eggs. The size of Maman is saying that who is looking down on whom now? Spiders can make cob webs in the corner and aggravate you. In this case, Maman wants to live her life in peace with her kids, and if you get too close the spider will fight back. Maman is a tribute to her mother because she was not only a mother, but also a best friend. Moreover, her mother was a weaver and was very clever just like a spider. Maman is almost practically a self portrait of Louise’s mother; a protective mother and defend her kids with all her might.

The Crucible Essays - Salem Witch Trials, The Crucible, Tituba

The Crucible Essays - Salem Witch Trials, The Crucible, Tituba The Crucible The Crucible takes place in Salem, Massachusetts in 1692. It begins with a sense of witchcraft in the air, when we find out that Reverend Parris (the town minister) and the town are concerned about Betty, Parris' daughter, who has fallen "a victim of witchcraft." We find out that Betty, her cousin Abigail, Tituba, a slave, and other girls in the town had been cavorting and practicing witchcraft, naked in the woods, the night before. Since this occurred, Betty had been in a coma-like trance that was suspected to be caused by witchcraft. We soon find out that Abigail has control over the other girls and blackmails them into lying which eventually leads to unnecessary murders of innocent people throughout the book. We also find out that Abigail worked for John and Goody Proctor, but was fired after she had an affair with Mr. Proctor. Since then, Abigail has had it out for Goody and was attempting to kill her with witchcraft that night in the woods. Her devious and obviously insane state of mind makes the ?if she can't have him, no one can theory' come into effect, until it suddenly changes into if ?she can't have him, she'll make his and everyone else's lives miserable'. Also, a vicious circle of paranoia and self centeredness comes into action, which also leads to the many unnecessary deaths, when one by one, the innocent are accused, tried, and killed for being witches, even though there is no evidence to support any of the cases, except for the reactions of Abigail and the other girls in the courtroom. The play ends with John Proctor being tried and hung for suspicions of witchcraft, even though he is obviously not a witch. Their reasoning is that all of the others were unjustly killed, so he had to be killed also. It also says that Abigail leaves town and was rumored to have become a prostitute.

Pronunciation of Words With Weak and Strong Forms

Pronunciation of Words With Weak and Strong Forms English is a stress-time language which means that some words are stressed and others are not when speaking. Generally, content words such as nouns and principal verbs are stressed, while structure words such as articles, helping verbs, etc. are not.   The Structure of Words A number of structure words have both weak and strong pronunciation. As a rule, the structure will take the weak pronunciation which means that the vowel becomes muted. For example, take a look at these sentences: I can play piano.Tom is from New England. Here are these two sentences with accented words in italics. Mary can play piano.Tom is from Chicago. Can, and from and is are unaccented and the vowel is very weak. This weak vowel sound is often referred to as a schwa. In the International Phonetic Alphabet (IPA) the schwa is represented as an upside-down e. It is, however, also possible to use these words with a strong form. Take a look at the same structure words, but used with strong pronunciation: You CANT  play tennis. - Yes, I CAN.Where is Tom FROM? In these two sentences, the placement at the end of the sentence calls for the strong pronunciation of the word. In other cases, the usually unaccented word becomes accented as a means of stressing that something is contrary to what is understood by others. Look at these two sentences in a dialogue. You arent interested in coming next week, are you?Yes, I AM interested in coming! Try the following exercise to practice both the weak and strong form.  Write two sentences: One sentence using the weak form, and one using the strong form. Try practicing these sentences taking care to quickly glide over the vowel in the weak form, or pronouncing the vowel or diphthong sound firmly in the strong form. Here are a few examples: Ive heard you have a company in the city. No, I work FOR a company in the city.What are you looking for? She is our sister.OUR sister is so talented! Practice Activity Decide how the word indicated would change the meaning in the following sentences when using the strong form. Practice saying each sentence aloud alternating between weak and strong forms. Do you notice how the meaning changes through stress? I am an English teacher in Portland, Oregon. - strong amI am an English teacher from Portland, Oregon. - strong fromHe said that she should see a doctor. - strong shouldThey were able to find a job despite the difficult market. - strong wereDo you know where he comes from? - strong doIll give the assignment to them. - strong themShes one of our most valued students. - strong ourId like Tom and Andy to come to the party. - strong and Answers I AM an English teacher ... Its true even though you dont believe it..... teacher FROM Portland, Oregon. Thats my home city, but not necessarily where I live and teach now.  ... that she SHOULD see a doctor. Its my advice, not an obligation.They WERE able to find a job ... It was possible for them though you think not.DO you know where ... Do you know the answer to this question or not?... the assignment to THEM. Not you, the others.Shes one of OUR most valued students. She is one of us, not of you or them.... Tom AND Andy ... Not only Tom, dont forget Andy. Here are some of the most common words that have weak/strong pronunciations. Generally speaking, use the week form (schwa) pronunciation of these words unless they are stressed by coming at the end of a sentence or due to unnatural stress made to facilitate understanding.   Common Weak and Strong Words a / am / an / and / are / as / atbe / been / butcan / coulddo / doesfor / fromhad / has / have / he / her / him / hisismustnotof / ourshall / she / should / somethan / that / the / them / there / touswas / we / were / who / would / willyou / your

Any

Any Any Any By Maeve Maddox A reader asks, If a countable noun comes after any, then should it [the noun] be singular or plural? Like the indefinite article a/an, the word any derives from a form of the Old English word for one. Primarily an adjective, it is also used as a pronoun. As an adjective, any is most commonly followed by plural or uncountable nouns: In questions: Do you have any tomatoes for sale? (plural noun) Baa, baa Black Sheep, have you any wool? (uncountable noun) In negative statements: I don’t have any books by that author. (plural noun) The lion didn’t have any courage. (uncountable noun) In conditional statements: If your final draft contains any errors, it will be rejected. (plural noun) If you need any help with the proofing, let me know. (uncountable noun) Sometimes any is used to modify a singular countable noun: Any fourth-grader should be able to read that book. Any grammar book will have a section on relative pronouns. In these sentences, any is used in the sense of every: Every fourth-grader should be able to read that book. Every grammar book will have a section on relative pronouns. Sometimes a singular countable noun follows any in a question: Is there any rule that says I can’t dye my hair green? Is there any reason you slam the screen door every time you go through it? In the above contexts, the speaker does not anticipate more than one rule or reason, if any. On the other hand, a speaker who anticipates that there could be several rules or reasons would follow any with a plural noun: Are there any rules against further construction in this neighborhood? Are there any reasons we shouldn’t require job applicants to submit samples of their writing? As a pronoun, any stands for a noun that has already been expressed, or when it is followed by the preposition of: Of all the books I have read, this one is more memorable than any. If there are any of the pecans left after the sale, you may have them. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Grammar category, check our popular posts, or choose a related post below:8 Proofreading Tips And TechniquesPhrasal Verbs and Phrasal Nouns

To study the relations between satisfying and dissatisfying factors Research Proposal

To study the relations between satisfying and dissatisfying factors affecting workers' productivity - Research Proposal Example †¢ Identification of satisfying factors that improve the productivity of workforce. †¢ Studying the influence of environment on the nature of factors influencing productivity. †¢ Study of the traditional methods for productivity improvement. †¢ Formulation of a productivity improvement strategy that simultaneously focuses on lessening the dissatisfaction and improving the satisfaction among workers. †¢ Judgment of the validity of the Herzberg’s theory of motivation through results of the strategy. Justification: Productivity is one of the most cardinal concerns in the state of the art business practices. The progress of any organization depends upon the speed of work. Workers’ motivation plays a decisive role in boosting the speed of work because they work at the grass root level. Their productivity is essential for the company’s progress to comply with the schedule. Companies that surpass the deadline make the owners incur great financia l losses. Liquidated damages absorb the profit margin that not only decreases the profitability of business, but also serves as a potential discouragement for the owners. Therefore, workers’ productivity is the key factor that needs to be concentrated upon in order to increase the profitability of a business. ... Various theories of motivation have been proposed, each highlighting a specific aspect of motivation. One such theory is the Herzberg’s motivational theory that emphasizes that workers can only be motivated for work if managers take measures to both satisfy them and remove the factors that dissatisfy them. Such theories are readily being relied upon by both researchers and practitioners. There is a need to check the validity of these theories. This research will check the validity and practical usability of the Herzberg’s theory of motivation by devising a strategy based on it that would focus on improving workers’ motivation for work, and hence their productivity. The research will be very useful for researchers and philosophers that tend to base their proceedings on the Herzberg’s theory of motivation. If the strategic model of productivity enhancement devised in this research brings out positive results, it would not only justify the usability of the He rzberg’ motivation theory, but would also provide the owners with a well developed strategic model of productivity improvement. Review of the literature Various factors influencing the productivity of individuals in the context of work can be success, job satisfaction, desire for money, team work and recognition (Management Study Guide, 2011). Productivity is directly influenced by an individual’s level of satisfaction or dissatisfaction with the job. Job satisfaction is controlled by the employees’ satisfaction with such factors as salary, leave, medical facilities and insurance etc. Various theories of motivation like Maslow’s Hierarchy of Needs, Alderfer’s ERG theory and the Herzberg motivational theory commonly stress upon a need to address workers’ concerns on these factors so that their

Health Management - Managing the aftermath of an adverse safety Essay

Health Management - Managing the aftermath of an adverse safety incident - Essay Example When the patients are not treated with the highest safety standards, they are likely to record dismal results in their performance. For instance, when the patients are not living in a highly hygienic place, they are likely to contact other diseases which will affect their health. Similarly, there is a need for health practitioners to offer services at the right time and at the right place. For instance, some patients need emergency services and should be given priority whenever they check into an institution. Such people need urgent care and services as their situation is extremely out of control (Khatri Hughes LC, Chan and Mark, 2009: 28). However, when the situation is not given priority, the person is likely to succumb to the injuries since the situation is getting worse. For instance, a person that is profusely bleeding needs urgent care. It is openly expressed that a person that is profusely bleeding needs to be given ample care and first aid. This will stop the bleeding and the person will be in a stable condition. However, when the bleeding continues for a long time, the person is not likely to survive. The body fluids will be at minimal levels, which is detrimental to a person’s health. There are a number of incidences in the health sector that openly display the need for safety measures in the profession. In most instances, the incidences are caused by human error. The people working on the patients are erroneous and end up making a mistake. Some mistakes are controllable while others are not controllable and could affect the life of the victim. However, in bizarre cases, the consequences of the incident are adverse and this could lead to death of the victim. These calls for undivided and focused attention from the medical practitioners and the nurses in the profession to ensure the patients are given steadfast services (Hurwitz and Sheikh, 2011: 21). The errors

Emerging Markets Finance Essay Example | Topics and Well Written Essays - 3250 words

Emerging Markets Finance - Essay Example It is only recently tht ttempts hve been mde, s in Ghosh nd Ghosh (2002) nd Mulder et l. (2002), to incorporte institutions more systemticlly into erly-wrning systems. But this hs just strted nd systemtic wy in which to model the crisis-relevnt institutionl setting hs not yet been found. Erly-wrning models focussing solely on CEECs hve completely neglected institutionl fctors. Generlly, empiricl studies on CEECs re scrce, despite the specil importnce of detecting vulnerbilities not only in the run-up to the CEECs' membership of the EU, but especilly lter on during ERM II prticiption. This pper discusses the importnce of infltion nd currency stbility s the wy of the economy development of emerging countries. The pper is structured s follows. First, look is tken t the theoreticl pproches dopted to explin currency crises nd the importnce of infltion nd currency stbility on the development of emerging economies. This prt prticulrly seeks to show the chnnels through which institutions cn influence country's vulnerbility to currency crises. In the second section, n econometric logit model is used to exmine the extent to which institutionl fctors cn serve s erly-wrning indictors for currency crises in Estern Europe. Recent yers hve witnessed d... Such low levels of infltion hve not been seen since before World Wr II, when, mostly tinder the discipline of the gold stndrd system of fixed exchnge rtes, prices were roughly stble nd episodes of defltion were not uncommon. The recent decline of infltion in emerging mrkets looks ll the more impressive ginst the bckground of the 11970s nd 1980s. Infltion begn to rise grdully in the 1950s, but it ccelerted drmticlly in the 1970s nd erly 1980s, culminting in severl episodes of triple-digit nnul infltion nd four mjor hyperinfltions in the lte 1980s/erly 1990s. From tht point on, disinfltion ws steep. This rise nd fll of infltion in emerging mrkets ppers to reflect in prt chnges in the interntionl monetry system nd infltion trends in dvnced countries. One notble feture of the post-World Wr II period ws n increse in infltion persistence compred with erlier historicl ers, when infltion ws either generlized nd grdul (e.g., following the gold discoveries of the fifteenth through the nineteenth century), or rpid nd specific, reflecting exceptionl fiscl strins (s during or immeditely fter wrs). This grdul increse in the persistence of infltion, combined with the brekup of the Bretton Woods interntionl system of commodity-bsed money nd the ssocited removl of externl constrints on ccommodtive monetry policies, mde it possible for the supply shocks of the 1970s to push world infltion to unprecedented pecetime levels, producing the "Gret Infltion" of the 1970s nd erly 1980s. To the extent tht emerging mrkets imported this infltion, loosened fiscl policies, nd lso dopted incresingly ccommodt ive monetry policies during the period, these externl trends were

World Religions Report Essay Example | Topics and Well Written Essays - 2000 words

World Religions Report - Essay Example Marriage of non-Filipinos to those belonging in Iglesia families is just one of the examples of how those comprising the minority of the Iglesia population have been involved in the religion (Catholic Answers, 2004). Despite the widespread estimate of the number of the constituents (which is between three million and ten million including those outside the Philippines), the Iglesia conceals their real population. It has a larger population than the more known Jehovah’s Witnesses, which also assert their being the genuine Church of Christ (Catholic Answers, 2004). Indeed, unlike most of the other cults which have Western origins, Iglesia ni Kristo (INC) or the Church of Christ has its roots from the Philippines with Encyclopedia Britannica (2007) describing it as indigenous. Historically, it was a small church founded by Felix Manalo in July 27, 1914 (Elesterio, 1988). Thus, he was considered by his followers as the messenger of God. After the fast expansion 1945, the number of members reached the 600,000 mark by the end of the 20th century (â€Å"Iglesia ni Kristo†, 2007). This has also led to the building of chapels throughout the country and to their being a well-heeled federal religious organization. However, the foundation of INC was not an easy task; it was a great struggle for Manalo. Yet, Harper (2001) noted that one thing is certain: preliminary association with the Bible pushed him to impugn what has been taught to him regarding religion and God in the Roman Catholic Church. According to her research, Manalo had joined other religious groups before he finally established INC. At the age of 18, it was found out that he joined the Methodist Episcopal Church where he trained about the Bible and become a lay preacher. At 22, he also studied with the Presbyterians and joined Mision Cristiana, the Christian Mission of the

Global warming and the blame game Research Paper

Global warming and the blame game - Research Paper Example The major blaming debate is whether global warming is majorly accelerated by the developed countries or developing countries. It is for sure known that the problem comes from both sides of the world but determining the greatest accelerators still remains a debate in the global environment arena. To discuss this paper, the major objective is to determine whether the developed countries are the major accelerators of global warming. This leads to the discussion question, Is global warming mostly accelerated by the developed countries? The thesis that will help find the answer to this question will be: The developed nations majorly cause global warming. To support this claim, the paper discusses the various activities in developed countries that might cause global warming. One of the major causes of global warming is the emission of greenhouse gases especially Carbon dioxide (CO2) due to the huge coal burning power plants and many industries. The developed countries are the greatest emitters of these gases. The data collected from 1900 to 2004 indicates that the United States of America produced carbon dioxide that amounted to 314,772 million metric tons (The World Bank 3). Germany also produced three times as much as China that only produced 89,243 million metric tons. The World Bank report added that it is important to note that these gases stay in the atmosphere for centuries; it can take more than 30 years to remove 50% of the emissions (5). This led to increased global temperature from back in 1800s to date. The graph below shows the gradual increase in the global temperature between 1880 and 2010. Developed countries are also the greatest consumers of the environmental resources. U.S, Canada, Europe and many more nations being with less population compared to developing countries, are the greatest consumers of environmental resources such as trees, raw materials for manufacturing and in turn has led to increased

World Religions Report Essay Example | Topics and Well Written Essays - 2000 words

World Religions Report - Essay Example Marriage of non-Filipinos to those belonging in Iglesia families is just one of the examples of how those comprising the minority of the Iglesia population have been involved in the religion (Catholic Answers, 2004). Despite the widespread estimate of the number of the constituents (which is between three million and ten million including those outside the Philippines), the Iglesia conceals their real population. It has a larger population than the more known Jehovah’s Witnesses, which also assert their being the genuine Church of Christ (Catholic Answers, 2004). Indeed, unlike most of the other cults which have Western origins, Iglesia ni Kristo (INC) or the Church of Christ has its roots from the Philippines with Encyclopedia Britannica (2007) describing it as indigenous. Historically, it was a small church founded by Felix Manalo in July 27, 1914 (Elesterio, 1988). Thus, he was considered by his followers as the messenger of God. After the fast expansion 1945, the number of members reached the 600,000 mark by the end of the 20th century (â€Å"Iglesia ni Kristo†, 2007). This has also led to the building of chapels throughout the country and to their being a well-heeled federal religious organization. However, the foundation of INC was not an easy task; it was a great struggle for Manalo. Yet, Harper (2001) noted that one thing is certain: preliminary association with the Bible pushed him to impugn what has been taught to him regarding religion and God in the Roman Catholic Church. According to her research, Manalo had joined other religious groups before he finally established INC. At the age of 18, it was found out that he joined the Methodist Episcopal Church where he trained about the Bible and become a lay preacher. At 22, he also studied with the Presbyterians and joined Mision Cristiana, the Christian Mission of the

Research Essay Example | Topics and Well Written Essays - 2250 words - 1

Research - Essay Example The detrimental effects of the continuous industrialization and modernization of the corporate world had turned the trend of the organizations and companies from the objectives of financial prowess solely towards expansion of aims and priorities in terms of responsibilities thus including the welfare of the environments and surroundings including the adjacent communities and other issues related to ethics and behaviours of the employees and the members of the company or organization. The CSR then can be defined on the basis of giving attention to three objectives that includes the profitability in the financial aspect, the social responsibility and the environmental issues and concerns (Catalyst Consortium, 2002). In the study that had been undertaken, the main objectives and aims include the research, analysis and presentation of data related to corporate social responsibility. The said concerns are achieved through the gathering of researches that had been conducted by different academic groups and authors and comparing results and methods that had been applied. Through the said procedures the areas that are covered and studied can be generally viewed. In turn then, the main output of the research conducted is the presentation of the view on the said issue at a glance. The review of the published papers in CSR can be considered to present an access that can introduce the data in the said field of discipline. In the review conducted, three published papers on CSR that had been presented after the year 2000 had been included and analyzed on the basis of different points. The research design characteristics are points that are considered important that had been presented in the research works that had been studied. The summary of the characteristics of the papers is presented in tabulated form (Appendix 1-4). The main issue that is discussed in the articles under study is the effects of CSR with other

Behavior Plan Template Essay Example for Free

Behavior Plan Template Essay Max does not talk about his past or his family. He focuses everything on sex, power, and himself. He has had six charges of assault and brags about how many woman he has slept with. Max has a personality that draws people in and can be very socialble, but once things do not go his way or are not about him he tends to lose it. He sees nothing wrong in what he does and it is normal to him. He has serious anger issues that he does not want to admit and I feel it has a lot to with his past. Max possibly suffered from some type of abuse when he was younger, either sexual, physical, emotional, or even all three. He seems to have very low self-esteem by the way he brags  and puts down other ideas. Max does not know how to have a normal relationship with people, without making things about himself or using anger while interacting. Max hold irrational beliefs about himself and the world, which is not good because it leads to the negative actions he has been exhibiting. This type of behavior Max is exhibiting relates to rational emotive behavior therapy (REBT). Course of Treatment List two target behaviors and two interventions. Target Behaviors Anger Issues Relationship/Emotional Issues Frequency and Duration of Target Behaviors Anger Issues are serious for Max because he seems to not be able to handle his anger. This behavior needs to be targeted for three months because he has been so use to this behavior for a long time and he needs to learn how to control anger and react to things in a positive way. Relationship/Emotional issues is an important area that Max need to work on. He needs to be able have a relationship with others that does not consist of him being selfish or dominiating. This behavior needs to be targeted for three months because he does not know how to interact with people without being dominating or using sex to his advantage to get what he wants. Severity and Number of Relapses If Max does not get this behavior under control he could have to do prison or jail time. He could also run into the wrong person and lose his life or be seriously injured. He has relapsed around 4 times, it has been difficult for him. Max needs to learn how to have a normal relationship with a person, that uses the correct emotions and is not all about himself. There will come a time when he is truly alone and has nobody because they do not like how dominating and arrogant he was. He could resort back into depression. He has relapsed around 5 times because he cannot stop being dominating and arrogant. Interventions Max needs to be in angermanagment classes, along with group and one-on-one therapy. He also needs do some sort of community service. Max needs to be in  one-on-one therapy and group therapy. He should volunteer at homeless shelters, so he can appreciate what he has and improve his own self-worth. He should be involved in any sexual activity for 4 months. Goals and Objectives List two long-term goals, two short-term goals, and one objective to work towards each goal. Long-Term Goal 1. The long-term goal for anger issues is for Max to control his anger and not have any other incidents of assaulting people. 2. The long-term goal for relationship/emotional issues is for Max to learn how to have a healthy relationship with others, which he is not controlling or uncaring to the person. His self-esteem should be confidence and not arrogance. Short-Term Goal 1. The short-term goal for anger issues is for Max to not have any anger outburst or physical altercations with anyone for three months. 2. The short-term goal for relationship/emotional issues is for Max to understand individuals and think about them for he thinks about himself. Objectives 1. If Max can control his anger he will be able to be a happy person and can have a normal reaction to things in life, without feeling out of control with anger (Macavei, 2005). 2. If Max can learn how to have a healthy relationship and use his emotions correctly, he will not be alone, but can have someone who he really cares about and who really cares him (Macavei, 2005). 3. If Max can learn to not lose control right away of anger he can learn that he does not need violence, but can think before he reacts (Macavei, 2005). 4. If Max can learn to understand others and think about someone else than himself he can become a better person and not who is not depressed or hides behind negativity. He can truly understand himself and work on his own personal issue (Macavei, 2005). Discharge and Termination Plans Describe the discharge and termination plan for the client. Discharge Plan Max has been discharged after four months of treatment. He has shown he can  control his anger and really overcome his relationship and emotional issues. He has completed his anger management and therapy. Max will still have to take angermanagement classes once a week and therapy, but he will be free to live on his own and conduct his life normally. He has also been prescribed medication that will help with his mood swings. Termination Plan Max will be released and living on his own. He will have to check in once a month for a year to make sure he has not relapsed. If everything comes out good he will not have to check in after the year. References Macavei, B. (2005). The Role of Irrational Beliefs in the Rational Emotive Behavior Theory of Depression. Retrieved from http://web.a.ebscohost.com.ezproxy.apollolibrary.com/ehost/detail/detail?vid=4sid=9ad88650-04e2-482a-a3a8-bf1f672d5913%40sessionmgr4005hid=4109bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=a9hAN=18046159

Case Study of Best Buys Inc Expansion

Case Study of Best Buys Inc Expansion Best Buys, Inc has emerged as a special electronic retailer in US and other areas operating from Richfield, Minnesota. The main strategy for international expansion used by BBI is MA with dual branding by creation of competition between acquired stores and Best Buys. The case study shows that the strategy has been successful and workable in western world. Within reduction of trade barriers by China and allowing 100% FDI in retail segment, BBI is trying to follow same strategy in China. But Chinese market being totally different from the Western context, BBI has faced challenge to cut across the dual branding strategy. The report highlights the main strategic issues raised followed by recommendations. PESTEL Framework The PESTEL framework is devised to understand the strategic issues underpinning the business from external sources (Johnson, Scholes Whittington, 2008) Figure A-1: PESTEL Analysis PEST Factor Key Points Implications for BBI POLITICAL (Opportunity for BBI to expand in different Chinese market.) Liberalization in Chinese retail market from 2004 Reduction in entry barriers like compulsion of domestic partners. Big market for imported product. (www.Businessinasia.com) Increase in competition from stronger global players of retail business. Growing knowledgeable domestic retail players. ECONOMICAL (Constrains from free directive growth in China) Shift to market oriented economy. Relatively high domestic savings rate. Uneven economic development among different states of nation. Growth in manufacturing sector. (CIA, 2010) MOST IMPORTANT Need for appropriate market segmentation to target specific people and Chinese province. Require to restructure its cost base to suit by sourcing its materials from China to satisfy the cost conscious needs of small towns and cities. SOCIAL (Opportunity for BBI for establishing its brand in strong position on customer mind.) Increase in middle class people. Rising income of newly educated class. Focused on functional aspects of products. (CIA, 2010) Potential opportunity of making profits by targeting young educated individuals in metro cities. TECHNOLOGICAL (Threat for BBI due to unprotected IPR.) No laws on Intellectual property rights (IPR). Improved technological due to spillover effect from other MNCs. ENVIRONMENTAL LEGAL (Opportunity for BBI to keep away potential entrants.) High legalities for land acquisition. Procedural delays to grant permission. Being first international company in retail segment gives advantage to earn profits and create efficiency (Kotler, 1997). 3.0 PORTER FIVE FORCES: By analyzing the competitive nature of Chinese retail market, market position of BBI can be assessed to formulate strategy to neutralize these forces (Porter, 1985; Lynch, 2007). Force Strength and Implication for BBI Competitive Rivalry BBI caters only to CE retailing. Consolidation of retail segment has increased challenge. Emerging established domestic players. HIGH Innovative marketing is the key strength for BBI. Well known for its customer centricity. Powers of Suppliers Increasing domestic electronics suppliers. Global suppliers with high bargaining power. LOW BBI presence established with sourcing office developed good relationship with local suppliers. Power of Buyers Low brand recognition while buying product. Consumers preference for national brands. Products bought on basis of price and functionality. MEDIUM Although the power of buyers is medium BBI should make sure that it should reach its distributed customer through its distribution channel due to presence of vast regional difference. Threats for New Entrants Highly fragmented Chinese retail market. Entry of global retail players. Newly emerging domestic players. HIGH Concentrate to differentiation from others. Focus on targeting both segments of customers. 4.0 SWOT analysis: Factors Implication for BBI Strength Presence in China for sourcing electronic products since 2003. Innovative marketing skills. Established brand in US and surrounding regions. Developing and maintain relationship with established suppliers. Personal relationship is basis of business in China. Weakness Being a foreign MNC. Lack of knowledge for operating in Chinese customer segments. Lack of quality human resources. Acquisition of Five Star has reduced the foreign liability and increased local knowledge. Retail training of International Standards for employees. Opportunity Highly fragmented market. Increased demand for branded products in Tier 1 cities. Income growth in Tier 2 cities. Establish retail chain to create brand awareness. Need for creation of robust distribution network. Threats Rampant price wars. Entering global players. High domestic savings rate. Consumers differing away to purchase on credit terms. Cost focused strategy for price sensitive segment and focused differentiation branded products in Tier 1 segments (Johnson et. al., 2007) 5.0 Key Strategic Issues: Analyzing internal and external factors various key findings have been listed below with their strategic implication on BBI. Key strategic findings Analysis tool Key findings Strategic Implications on BBI PESTEL Analysis Huge differences in living standards. Increase in disposal income. High savings rate among middle income group. Establish stores to cater both segments to maintain both requirements: Functionality for cost focused and Differentiation for Tier 1 segment. PORTER FIVE FORCES Strong domestic competitors. Global competitors entering the market. Leveraging on first mover advantage, establish relationship with suppliers and buyers. SWOT Lack of local knowledge of different Chinese regions. Domestic retailers driving on price wars. Consumers buying less on credits. MA can fulfill local knowledge and developing relationship with established with local suppliers can cut cost low. 6.0 Strategy Formulation: TOWS Matrix: Different strategic options are formulated using TOWS matrix to address the strategic issues highlighted in analysis. INTERNAL FACTORS IN CHINA Strengths Weakness Established brand name Best Buys. Relationship with Chinese suppliers. International player. Well versed with new innovative technology. Acquisition of Five Star (75% Share). Experience in retail segment. Small number of BBI stores. Lack of retail skilled employees. Lack of local knowledge. Foreign liability. EXTERNAL FACTORS Opportunities Competitors lack of International retail standards and technology. Emerging markets Increasing young educated preferring branded goods. SO Strategic options Dual brand strategy Five star for cost focused and Best Buys for focused differentiation. Influencing young customer segment in Tier 1 market. WO Strategic options Increase on developing retail skilled employees. Increasing promotional packages. Reducing cost using technology. Threats Global economic crises. Legal regulations. Lower cost competition. High savings rate. Low credit purchase. ST Strategic options Developing brand recognition. MA with domestic retailers. Leveraging on suppliers potential. WT Strategic options Good product offerings Zero percent interest rate on EMI credit purchase. (Source: Johnson et al., 2008, p367) 7.0 Recommendation: A detail explanation and classification of strategies on basis of Ansoffs Matrix is detailed in appendix A. A primary analysis has been carried out using number of performance indicators to eliminate options which may not be suitable for BBI, leaving the 3 most appropriated strategies which can be followed. A combined approach of incremental market development and penetration followed simultaneously. First Stage: Create brand awareness and recognition among Chinese customers. Influence young educated customer segment. Second Stage: Use of dual branding strategy for two different segments Cost focused for customers believing in functionality and cost; Focused differentiation for brand conscious customers.

Nick Hornbys High Fidelity Essay example -- Nick Hornby High Fidelity

Nick Hornby's High Fidelity In Nick Hornby's High Fidelity, the main character, Rob, relates music to every aspect of his life. He utilizes music as an escape from his anxieties regarding his failing record store, relationship, and sense of self. Music provides Rob with the inspiration that keeps him going: Records have helped me to fall in love, no question. I hear something new, with a chord change that melts my guts, and before I know it I'm looking for someone. (169) Music prompts Rob to isolate himself, hold an unrealistic view of people and sabotage his relationships. Rob allows himself to get overcome with a feeling when listening to a song pertaining to that feeling. Many of the songs he mentions as his favorites or with significant meaning, relate to Rob?s life in that they have a lot to do with loneliness. One song in particular that Rob wants to serve as his eulogy, ?Many Rivers to Cross,? by Jimmy Cliff touches upon aspects of his life, such as loneliness, abandonment and anger. The title, which is repeated throughout the song, relates strongly to Rob due to the fact that it contains the word ?cross? in it. Having just broken up with his girlfriend, coming to grips with his fear of commitment and finding unhappiness with his occupation, Rob has just crossed many boundaries in his life. He has taken on a sense of depression, which leads him to resort to anger all the time. The word ?cross? in the title can also relate to Rob?s anger. He is constantly ?cross? with his coworkers: If I have to listen to one more word of his useless, pathetic, meaningless babble in my entire life I will kill him. When I let him go I am shaking with anger. (56) When on the topic of Ian, the man Laura left him for... ...living in for the past few days has vanished? (60). At this point Rob acknowledges his defeat and realizes he cannot go on without Laura in his life because she was the one person he could rely on and talk to. With Laura gone, Rob resorts to a false comfort, his music. Rob is so passionate about music because it is the one stable thing in his life. No one can take music away from him and it keeps him going. Music is what he uses to start conversations, make a living, fill up his apartment and to motivate him. The lyrics, ?It?s only my wind that keeps me alive? can be related to Rob?s music. The only thing that keeps him going during rough times is his music, his ?wind.? Music is a secure commitment, which will never walk out on him or die on him? music is his High Fidelity. Works Cited: Hornby, Nick (1995). High Fidelity. New York: Riverhead Books.

Baptist Confessional Paper

When comparing one item to the other there will always be differences and similarities this is the essitanial aspect of comparing. For purposes of this paper, the two Anabaptist confessions, which will be looked at, are as follows. The New Hampshire Baptist Confession and the Free- Will Baptist Confession. The Basis of the New Hampshire Confession rests on the Calvinistic view of theology verses the Free-Will Baptist whose foundation is rooted in the Armenian aspects of theology. The very core of the differences between these two confessions lies in the positions of Armenian and Calvin theology, which will be the focus of this paper. An added difference, which warrants a little time is the stance the Free Will, took from the New Hampshire on the view of Ordinances of the church. Wrapping up will focus on how doctrinal differences between the two will affect the movements in their spheres of influence. Doctrine on God The focus of theology starts with a look at God, who He is and how He responds to those He has created. The view of God a person chooses will direct the flow of the flow of the person's theology. This being said the discussion would start with God. The New Hampshire Baptist (NHB) believed that God knew all things and therefore new exactly what would happen even before it happened because He determined it that way. The NHB looked at God as having complete and utter sovereignty over all creation. It is under this notion the NHB believed that God knew those who would chose to become His elect from the sinful nature of humanity. The NHB looked at this as an outpouring of God to all that would choose to live for Him. The NHB looked at this as God's â€Å"eternal purpose. One of the areas this confession does not mention is why God chooses one over another. God election is solely based upon His goodness and holiness, that He would be glorified according to His nature. God places His glory above all things in so much He commands there will be no other God before Him. On the other hand, the Free-Will Baptist (FWB) believes God does not preordain people to be called to Him. FWB believes God only ordains the ends, not the middle, or the means. The FWB believes God gives humankind a sort of power. This power would be considered free will. Free will or the power to choose and therefore determine what things may come by the hand of man. The FWB believe God governs by† moral law and motives† men were thought of as having the ability to bring about the ends He desired. FWB could not understand how a man could be responsible for his action if he does not have the freedom to create possibilities of his own choosing. FWB attempts to break down the concept of the NHB and the idea of God having foreknowledge of all things verses His foreordination of all things. The FWB believes that all things are with God from the beginning to the end. The FWB believe God's knowledge of the events does not cause them to happen, the FWB also believe that not all the things God knows will happen. FWB knows that God is omniscience but they deny His foreordination of all things such as the HHB does. The FWB have an understanding to which makes God in some very dependent of the creature or creation. They also have an issue with God's foreknowledge and His foreordination and could not break apart the bond between them. Although both needed to define God's omnipotence. God knows what will happen and what will cause thing to happen, therefore while He knows some of the happenings, He also knows what will be needed should we need a way out. FWB focuses on God's willingness to act on certain things or react and allow history to unfold as it would. The Nature of Man The NHC confession of Faith believes the fall of man from a state of joy and communion with God is due to the free will of man. Due to this fall, humanity is separated from God and therefore doomed to an eternal death without excuse because of its own choice. This idea follows along with Calvinism's doctrine of Total Depravity. Although the NHC falls along the lines of Calvinism there are quite a few aspects of the doctrine they did not follow such as man's spiritual deadness, black minds dark hearts, and shackles to sin, as well as man's incapability to change. On the other hand, the FWB builds their faith upon the presupposition that God gives every man free will. FWB believe that although this free will caused men to fall that by the same free will men can choose to change their present state by Christ. The FWB anthropology is closely linked within their outlook on Christology, with its focus on Atonement of Jesus. Atonement The NHB hold strongly to the foundation of â€Å"full atonement. † The NHB believe that atone was a two part concept which involved a universal and a limited area. The universal part took the stance that Christ atonement was sufficient for the salvation all humankind. The limited area was efficient for only the elect of God. NHB held that Christ knew whom He was giving His life for, and these few were by far and large secure in their salvation. The FWB held a special place in the confession of faith when speaking of salvation. The idea can be summed up in the following words â€Å"The call of the Gospel is co-extensive with the atonement to all me, birth by word and the striving of the Spirit, so that salvation is rendered equally possible to all; and if any fail of eternal life, the fault is wholly his own†. The FWB held to the belief men would be changed to a point where they would be able to choose for themselves salvation. When Christ gave His life this supplied the salvation to those that would believe, but the atonement would not be applied to this salvation. The only way the application of Christ's atonement would be placed on a man once he believed in Christ as Lord and savior then through the Spirit the atonement would apply to this person. The Influence of the Holy Spirit NHB hold fast to the belief that God's grace begins the regeneration process through the workings of the Holy Spirit within the person. The gift is given freely to those who choose a relationship with God. God decrees in order for many people to hear the word of God and thus hear of salvation to all that would accept this call by the Holy Spirit. The NHB also adhere to the fact that those who will continue to reject the promoting of the Spirit upon their hearts would not be forced to live for God. One of the doctrines of the HNB would follow that God does not care to follow people in this way. FWB have an outlook such that to say God loves those of His elect different than those outside His elect would strike up an argument. The FWB believe God's atonement is equal for all people and therefore His calling upon the hearts of man are equal. God would place people in places where they are faced with the decision to call upon Him for atonement but the actual turning away from self and acceptance of atonement is men alone. God cannot choose the right decision or the wrong decision in the doctrine of the FWB. Perseverance of the Saints The NHB like any other denomination will follow its doctrines to their logical conclusions. Believing is â€Å"wrought in our souls† because of the regenerating Spirit of God's work within His elect is â€Å"wholly of grace† then the preservation of those elect in a state of salvation is entirely based on the power of God. If God wants, you saved then you will be saved. On the other hand, the FWB hold fast to their doctrine to which if the act of believing comes from a man's few will then his choice to remain in the salvation state is also from his free will. A blurb from their doctrine defines it clearly† future obedience and final salvation are neither determined nor certain, since through infirmity and manifold temptation they are in danger of falling. † The Sacraments The NHB state in their confession there are only two ordinances they hold to. The first being the Baptism and the second being the Lord's Supper. However, the FWB also holds the Lord's Supper and the Baptism of its members but adds a third, which is washing the feet of the Saints. Conclusion In conclusion of the findings between these two different groups is very clear. The doctrines to which govern these groups are first and for most deep-rooted, and secondly quite different. It would be interesting at the very least to see a debate between these groups. It is quite clear the Free Will Baptist doctrine focus is centered on the man. The man makes up his own mind, the man continues to follow his own decision or not. This idea of man focused is can be seen not only in Christianity but also in new age and many other religions worldwide. While on the other hand the focus of the New Hampshire Baptist is solely, focus on God. Their entire doctrine is focused on a position of humility, peace, love, and joy from the man towards his creator. Though both have their many differences, the bottom line is both were different from the norm of their time and were hunted because they sought many differences from the power of the state-church at that time.

Macquarie Bank

?Introduction Macquarie Bank has been recognised as one of the most prestigious banks in Australia and around the world. Macquarie was established in Australia in 1969, it began operations in Sydney in January 1970 with only three staff. Macquarie Bank first opened its doors for business on 1 March 1985 with a retail branch in Sydney. Today, Macquarie Bank operates in a range of investment banking, commercial banking and selected retail financial services markets both in Australia and overseas. It is the only substantial, majority Australian owned investment bank and is a licensed trading bank under the Australian Banking Act 1959 (Macquarie History, 2007). Macquarie Bank has been consistently associated with a stream of major financial innovations, which have underpinned its reputation as a market leader. Their main focus that has helped them in their success is their risk management department as well as their focus on select markets on which they enter. The Macquarie culture is represented by the way in which they work together. The values to which they aspire can be summarised in six principles: integrity, client commitment, strive for profitability, fulfilment for our people, teamwork, and highest standards. Macquarie Bank’s commitment to the six principles is vital for continued growth and prosperity (Macquarie, About Macquarie, 2007) Operating Environment: The Macro Environment Political and legal forces Political and legal forces hold a great impact on all industries that wish to operate legally within a country. Regulatory groups are required within the banking industry to assist in the stable operation of a nation. A major regulator would be The Australian Prudential Regulation Authority (APRA). Various other major political and legal forces which solely influence the banking industry include The Australian Bankers’ Association (ABA), The Australian Securities and Investments commission (ASIC) and The Reserve Bank of Australia (RBA). APRA was created to be an advisory figure in the regulation of the Australian financial services industry. This group â€Å"oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies, and most members of the superannuation industry† (APRA, 2007). The ABA works with its members to provide analysis, advice and advocacy and contributes to the development of public policy on banking and other financial services† (ABA, 2007). The ABA acts as a union for banks and ensures that the banking industries views are heard, when the government decides to alter policies or legislations. Th e ABA also helps to strengthen the benefits of competition to Australian banking customers. ASIC’s task is to enforce and regulate companies and financial services laws in order to protect the customers as well as the investors and creditors. ASIC exists to regulate; â€Å"Australian companies, financial markets, financial services organisations and professionals who deal and advise in investments, superannuation, insurance, deposit taking and credit† (ASIC, 2007). â€Å"The RBA’s main responsibility is the monetary policy† (RBA, 2007). The board members make the policy decisions with the aim of gaining a low and stable inflation over the medium term. According to the RBA website, the other major goals include; maintaining financial system stability and promoting the safety and efficiency of the payments system. The RBA also acts as a banker to the Australian Government and actively participates in financial markets, manages Australia’s foreign reserves and issues Australian currency notes. Global Forces Changes in the financial status of markets overseas, drops or increases in interest rates overseas, and even new political regimes can all affect organisations around the world. Global forces which have recently held an effect on Macquarie bank would be the current drop in the US economy which has affected markets all around the world. The main impact which it has made in Australia has to do with financial institutions since they hold assets from the US market. This has directly affected Macquarie with its financial services and products. Economic forces Economic forces pertaining to Australia can greatly influence the way businesses operate. General economic forces such as inflation rates, interest rates, currency exchange rates, unemployment levels, average disposable income, and personal saving rates can all affect organisations to a certain extent (Hill et al, 2004, p74). Inflation has affected Macquarie bank which then in turn goes to interest rates. Currently economic forces within Australia include rises in certain industries including the mining industry and real estate. By these industries entering a boom period, it increases the amounts which these industries will be willing to invest which in turn increases profits for banks. Technological forces In modern society with technology being so closely tied to having a competitive advantage, a lot of industries compete to keep up to date with new developments. The invention and increased use of computers, internet, and phones have all made a major impact on organisations around the world. The main effect that technological advancements have made within Macquarie bank is that internet banking is now a common and widely used item so banks need to constantly upgrade their technology in order to prevent hackers from entering their databases and causing havoc. Operating Environment: The Micro Environment There are many forces that can impact the outcome of a firm’s growth and profitability. For Macquarie Bank, the forces that impact their success will be explored with the analytical frame work introduced by Michael Porter; his five forces model, which will look at the major contributing factors that will aid and deter the growth of Macquarie Bank in this industry. Risk of threat of new entrants The risk and threat of new entrants into the market can be seen as both high and low. High, since there has been a deregulation of the market for banking, which will allow for overseas competitors to compete in the local market. This is a large threat since these are the competitors that have a large pool of resources that can actually compete to a high level with Macquarie. However, the threat can also be seen as low since there is still a high degree of entry barriers, i. e. operational regulations and laws implemented by the government and other regulatory boards. Additionally, a major factor that will deter competitors would be such things as brand loyalty as well as the over saturation of banks in the industry. Therefore, the threat of new entrants can be seen as moderate and is highly dependant on the entrant’s resources and capabilities. Rivalry among established companies The rivalry in the banking industry can be seen as discrete, yet volatile. They advertise in the media about their interest rates, products and services, however, apart from that, their actions are rarely seen. Each bank firm always try to gain the better package and interest rate to attract more customers. However, these rates are quite similar with little variance. A major factor that gives them the competitive advantage would be the image the bank upholds and the services provided in comparison. The main point of attack that most banks concentrate on now is their customer service area, since most of the services that they provide are quite similar. Macquarie has a very well maintained, high profile image. They provide a lot of diverse services; however, they charge premium service fees for them. This has not deterred people from using their services, but has given their users a sense of assurance; they feel as though they pay top dollar for top service and quality. This sense of prestige as well as resources and capabilities has given the Macquarie bank their high image and profile as well as success. Bargaining power of suppliers The main supplier of Macquarie bank would be their shareholders. By owning a share in Macquarie depicts that these people have invested money into this organisation and since there are various options to choose from, Macquarie must be unique in some sense to attract these people. It would become costly for Macquarie to lose these shareholders as with banks, money is the good which is being transferred and to lose shareholders would only lead to a deficit in funding for the bank. Therefore, the bargaining power of suppliers would be seen as high since there is no switching cost for them to move their money into another investment area. Macquarie must come to a compromise with supplier demands or face losing a stream of equity and funding. Threat of substitutes The main threat of substitute services for Macquarie Bank would be; credit unions and building societies. Credit unions, especially the larger ones offer most of the services that Macquarie offer, however, with fewer fees. Building societies although not as main stream and service diverse as credit unions have the potential to develop the competencies to deliver them, for example, Bendigo Bank; which was originally a building society. Although these two types of institutions do not offer the wide array of services that Macquarie does, it can steal away some of Macquarie’s customers, since they deliver a minimal version of the services that Macquarie provides. Additionally, with Macquarie’s reputation and diverse array of services, the threat of substitutes would be on a miniscule level. Bargaining power of buyers The banking industry in Australia can be seen as a saturated market. This saturation allows buyers (consumers) a level of bargaining power. This means that the consumer can negotiate interest rates and packages to their advantage against the provider. However, since there are only a few financial institutions in Australia, many of whom can charge higher prices for services and packages. Yet on the other hand, the domestic banking industry is considered to be competitive, which can offset the balance with only having fewer firms in the market. Therefore, the bargaining power of buyers can be considered as moderate. Competitive Advantages Macquarie bank provides investment banking, commercial banking, retail financial services in Australia and selected financial services offshore. It operates through the following business segments: Asset and Wealth Management; Financial Markets; Investment Banking; and Lending. Macquarie is a diversified international provider of financial and investment banking services. It has the following key resources and capabilities compared to Commonwealth and Bendigo Bank: Human Resource Macquarie bank’s hosts and presenters are industry experts who have the xperience and knowledge to achieve the maximum outcome in this complex and rapid changing economic environment. With a network of over 10,000 people in 24 countries, the staff can add the most value and advantages to clients. Annette Martins is currently employed as an associate economist in the economics team at Macquarie bank. Her past experience includes working for the NSW Treasury as an economist within the Economic and Fiscal directorate. Other staffs have worked for such as Reserve bank of Australia (Macquarie, 2007). At Macquarie, there are elites in different professions such as Economy matters, Marketing, Property and Vision. All the staff members are carefully drawn from a broad range of industries and market segments. It is also allowing them to apply their expertise to the customers. Customer Resource Macquarie bank is currently operating its services in more than 40 countries around the world as OzForex is serving around 30,000 transacting customer internationally. It provides a depth of service (accurate and insightful view) with specialist capabilities to wholesale and private customer in both the domestic (Australia) and international economies (Macquarie, 2007). Simultaneously all these customers may invest their money with other Macquarie’s business groups such as Funds management or financial service groups. They both run domestically and internationally. The Financial service group services more than 670,000 clients all together with other Macquarie Departments. Department Resource Macquarie is currently operating its service in seven major business groups which are Investment Banking Group, Equity Markets Group, Treasury and Commodities Group, Banking and Securitisation Group, Real Estate Group, Funds Management Group and Financial Services Group. With all these services, Macquarie owns huge customer resources within Australia and foreshore. Each department in Macquarie is serving specific groups which may overlap with other departments because Clients may be interested in more than one service which Macquarie provides (Macquarie, 2007). Subsidiary Companies Macquarie is providing its specialist banking and financial service in select markets around the world. It also has a lot of subsidiary companies around the world. OzForex is an online foreign exchange provider which Macquarie has purchased 51% of the shares. It will allow Macquarie to offer tailored foreign exchange services to its substantial retail financial services within financial service groups (Macquarie-OzForex, 2007). Comparison against rival Banks Commonwealth bank’s principal activity is providing integrated financial services which include business and institutional banking, superannuation, life insurance, funds management and broking services and finance company activities. It operates in Australia, NZ, UK, USA, and Japan†¦etc. It has a wide presence in Australia with the largest branch and ATM network. It also received the award for excellence – Best Bank in Australia but was not mentioned in relation to investment services (Commonwealth Bank, 2007). Bendigo bank’s main financial services include business banking and commercial finance, funds management, treasury and foreign exchange services, superannuation and trustee services. It operates mainly in all Australian estates and the Australian Capital Territory. Bendigo bank is responsible for a number of banking innovations in Australia such as visa credit and debit cards (Bendigo, 2007). With all the resources and capabilities when comparing Macquarie bank to Commonwealth bank and Bendigo bank, Macquarie is on a leading position for investment banking. Deregulation is expected to lead to an increase in competition in the banking industry, and could involve a decrease in profitability. There are four factors in a bank’s competitive advantage that needs to be considered: (Chen. T. , 1999) Manpower Financial management Asset base Intangible assets Achieving success in the industry will involve 3 key factors. These are the costs, product and financial strength of the corporate entity. To be successful in the banking industry, the bank needs an insight into the changes in banking methods, cost management and long-term financial solutions. Macquarie bank’s strategy is to expand selectively in practical areas. (Macquarie Annual Report, 2007) Macquarie has entered the market of infrastructure investing since 1996. It has become one of the largest private managers of infrastructure in the world, with rapidly increasing revenue and profit. Macquarie bank’s specialist funds are currently buying toll roads, airports and rail systems world-wide. It is also a key growth driver and has been exported to international markets; its assets under management in specialist funds increased 50 per cent from $A87. 6 billion to $A131. 3 billion. Macquarie’s long-term strategy has allowed them to enter new sectors and regions flexibly as opportunities arise. This strong risk management has become a key factor of Macquarie’s success. The overall result is driven by strong growth in every region where Macquarie operates. Macquarie has achieved No. ranking in Australia for mergers and acquisitions whilst maintaining its leading market position for equity rise. It has also been ranked No. 1 broker by the ASX (Australian Stock Exchange) in market share. Macquarie bank, Australia’s largest Cash Management Trust (CMT) provider also has an agreement with Australia’s largest retail equities network, GBST (Glob al Banking & Securities Transactions). These strategic alliances provide Macquarie with an enhanced reach to its customers as well as customers from other alliances, hence forming a broader network. Company Strategy Macquarie company strategy Macquarie states that â€Å"Our strategy is to expand selectively, seeking only to enter markets where our particular skills and expertise deliver real advantage to clients† (Macquarie Annual Report, 2006); â€Å"Macquarie aspires to be a pre-eminent provider of financial services over the long haul† (Macquarie, 2007). This statement also shows that their strategy is to be a leader in their sector. (For more information on the business level strategy, please refer to appendix 1). Competing with Macquarie. Macquarie Bank Group can be seen as the market leader in investment banking, inancial services and retail banking â€Å"Macquarie Bank has been consistently associated with a stream of major financial innovations, which have underpinned its reputation as a market leader† (Macquarie History, 2007). The way that they have focused on market segments has given Macquarie an edge over their competitors; since they service the market segments which they see profit and growth in for themselves as well as their customers. What this means is that they minimise their risk of entering â€Å"stagnant† areas and maximise growth and return by servicing their target groups. Macquarie Bank Financial Results Total income from ordinary activities for the year 2007 was up 49% to $A7,181m; International income was up 70% to $A3,457m; Net fee and commission income was up 25% to $A3,540m; Trading income was up 20% to $A1,047m; Net interest income was up 23% to $A728m. Asset and equity investment realizations and other income were up 257% to $A1, 866m (Macquarie Financial Report, 2007). The expense to income ratio was slightly down at 73. 2 % (Macquarie, 2007). Refer to appendix 2 for the pie chart. *EPS = Net Earning / Outstanding shares Macquarie banks financial possession as of May 2007 is Net profit of A$1. 46bn. There has been a 60% increase as compared to the later year and six times the level increase as compared to the last five years. Earnings per share increased 48% from $A4. 00 to $A5. 92. This is 4. 5 times the level of earnings per share of five years ago (Macquarie, 2007). Earnings per share are generally considered to be the single most  important variable in determining a share's price. It is also a major component of the price-to-earnings valuation ratio. The P/E looks at the relationship between the share price and the company’s earnings. A high P/E  suggests that investors are expecting  higher earnings  growth  in the future compared to companies with a  lower P/E. However, the P/E ratio doesn't tell us the whole story by itself. It's usually  more useful to compare the P/E ratios of one  company to other companies in the same industry, to the market in general or against the company's own historical P/E. P/E Ratio = Market price per Share / EPS P/E of Macquarie for 2007 = 82. 75/ 5. 916* = 13. 987 (Macquarie Financial Report, 2007) The Pay-out Ratio shows the amount of earnings paid out in dividends to shareholders. Investors can use the payout ratio to determine what companies are doing with their earnings. The payout ratio also indicates how well earnings support the dividend payments: the lower the ratio, the more secure the dividend because smaller dividends are easier to pay out than larger dividends. (Investopedia, 2007) Macquarie Bank (Payout Ratio) 2005 2006 2007 53. 20% 54. 40% 54. 30% As the ratios above show, there has been very slight fiction in the level of dividend payouts. There has been a 0. 0% decline in the ratio which could only mean, that investors are feeling secure with the payout of the company which in turn means the company has higher retained earnings in their balance sheet and are able to keep investor confidence. Other data from the financial report suggests a decline in the expense to income ratio, for every $A1 of income $A0. 732 goes into expense. This suggests that Macquarie is h andling its expense well and is confident enough to pay off their investors. Return on Equity is a ratio that captures profitability, efficiency and capital structure within an entity. Changes in the ratio will reflect the direction of an entity’s profitability, asset efficiency and capital structure. ROE for Macquarie Bank 2006 = Net profit/ Average equity x 100 ROE = 916 /5968 ROE =15. 34% ROE for Macquarie Bank 2007 = Net profit/ Average equity x 100 ROE = 1463 /7519 ROE = 19. 46% The ROE increased from 2006-2007. In 2006 an investment of one dollar of shareholders equity returned 15. 34 cents of earnings available for distribution to shareholders. In 2007 an equivalent dollar investment generated 19. 6 cents of earning available to distribute to the shareholders. A figure which depresses the return on equity is if the cost of debt exceeds the return on assets. The debt ratio indicates how many dollars of debt exists per dollar of assets. It shows the leverage between a company is debt financed or asset financed. Equity Ratio for Macquarie 2007 = total equity / total assets x 100 = 7519/ 136, 389 x 100 = 5. 56% est. 6% This shows that 6% of Macquarie†™s debt finances their assets. They are relatively debt financed. Another way to measure the company’s financial leverage is the debt to equity ratio. It is calculated by dividing  its total liabilities  by  stockholders' equity. It indicates what proportion of equity and debt the company is using to finance its assets. = 128,870 / 7519 = 17. 14 A high debt/equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense. If a lot of  debt is  used to finance increased  operations (high debt to equity), then Macquarie could potentially generate more earnings  than it would have without this  outside financing. If this were to increase earnings by a greater amount than the debt cost (interest), then the shareholders benefit as  more  earnings are being spread among the same amount of shareholders. However, the cost of this debt financing may  outweigh the return that  the company  generates on the debt through investment and business activities and become too much for the company to handle. This can lead to bankruptcy, which would leave shareholders with nothing. (Investopedia, 2007) Issue 1 Macquarie Bank users a decentralised management structure. This decentralisation refers to when decisions are made at different levels within an organisation (Hill et al, 2004, p273). Decentralisation Overview: Macquarie’s management and organisation structure is considered to be non-hierarchical. This means that the chain of command within the organisation is designed to be decentralised. This management approach allows the lower and mid-level managers within the seven divisions of Macquarie to make decisions on their own. Macquarie encourages their employees to gain a sense of ownership and to develop entrepreneurial skills in order to make strategic decisions (Macquarie Management, 2007). By giving the lower and mid-level managers the power to make decisions, it will reduce the bureaucratic cost to the company. In other words, delegating lower and mid-level managers’ decision-making responsibility, will lead to a reduction in upper level managers within the organisation. Furthermore, having a decentralised management structure will reduce information overload to the central management team, which will enable them to spend more time focussing on market and industry forces (Macquarie Management, 2007). A decentralised management structure may be good in order to keep costs down and provide central managers more time to make effective decisions; it may however cause further problems within the organisation. Problem 1: Communication & Coordination issues involving the Decentralisation Approach: The decentralised management theory states that lower bureaucratic costs will avoid communication and coordination problems within an organisation. This may be true in theory, however in reality it is not always the case. For example, the seven divisions of Macquarie are run and operated independently. All of the lower and mid-level managers of the organisation make their own decisions within each division. Since every division in Macquarie are related, it is surprising to see that they do not effectively communicate with each other because there is no level manager do so. In other words, there is no managerial network that integrates with each of the divisions. This could mean that information and other resources are not equally shared, which can lead to difficulties in creating value for the ompany. Problem 2: Leadership Issues using the Decentralised Management Approach: Another decentralised issue that could affect Macquarie is for when the organisation is facing periods of uncertainty. For instance, when the Macro-environment is volatile or unpredictable it is important for an organisation to show strong leadership. In these uncertain times it is important that leadership decisions are best given from higher-level managers. One of the issues concerned with Macquarie’s management structure is that leadership decisions do not come from lower or mid-level managers. In fact, decision-making made by an organisation’s division can be made to benefit them rather than to benefit an organisation as a whole. Therefore, this decentralised management approach may not be effective to face periods of uncertain times. Recommendations Macquarie decentralised management system is working well despite some of the issues facing the company. However, Macquarie Bank can benefit from using both a centralised and a decentralised management structure. A centralised management system is the complete opposite of decentralised management structure, where decisions are made by upper-level managers of the organisation (Hill et al, 2004, p273). The approach that Macquarie should take is to find a balance between a centralised and decentralised management regime. For instance, issues such as investing money into infrastructure should be done using a centralised approach and consequently issues dealing with recruitment and training should be done through decentralisation. Archiving the balance between the two management structures will determine the success of Macquarie Bank. Additionally, Macquarie should add a managerial network that integrates with all of the divisions in order to improve communication and resource sharing to create value for the organisation. However, it is important to note that as the company expands the decentralised approach may become less effective due to rising bureaucratic costs. Justifying the Recommendations: The real question that must be put forward to Macquarie is that can they continue to grow under a decentralised management regime? This is a key issue regarding the organisation structure for Macquarie Bank. As the Macquarie organisation expands, many critics argue that sustaining a decentralised management system in the long-term will fail. This is due to the fact that expanded business growth will not be able to maintain current hierarchical levels because it is too difficult, but more importantly it will lead to inefficiencies in managing the companies’ resources (Hill et al, 2004, p274). However to solve these issues, Macquarie can choose to divide the functional responsibilities up within the company across the same level, best known as ‘Horizontal Division of Work. ’ Using a functional structure in a horizontal framework will enable people with similar tasks be grouped together in order to increase productivity. This will reduce bureaucratic costs for an expanding business and increase operational flexibility. Therefore, Macquarie should consider a decentralized managerial approach in the short-run but in the long-run they may opted for a functional structure in order to reduce costs. Issue 2 Macquarie’s focus strategy to expand selectively, seeking only to enter markets where their particular skills and expertise, deliver real advantages to clients has served them well to this day, with expediential growth, it can have some implications. The main implications that can arise from this course of action and strategy are the limitations of the potentially profitable and growing markets that Macquarie could miss out on. This can lead to limited growth and a loss of market share if Macquarie continues this course of action to a stringent degree. It is near impossible to predict the trends to such an exact degree as too when to enter a market to obtain maximum growth, however, if there is the potential for that growth to occur, then the advantage can be taken by entering that market before this growth eventuates. However, by doing so creates risk. This risk is the gamble on predicting the success of the potential growth in the area. Although Macquarie does have a whole department dedicated to risk management, it still does not account for the ability of the environment to make unforeseeable changes. These environmental factors are out of the companies control, however, the company can anticipate an environmental change and implement a course of action to take in order to counter or profit from it. Therefore, Macquarie’s strategy of focusing on a select market to enter, although has helped them grow into a gigantic organisation, it could also be their downfall due to the potential growth they could miss out on by trying to minimise their risk. Problem 1: Market selection and alienation The way that Macquarie’s strategy focuses on expanding selectively to only enter markets where their particular skill are suited will cause these limitations in their possible future growth. This strategy can be seen as a focus strategy since Macquarie looks at targeting a particular market or customer segment; as stated in their original strategy, to expand selectively†¦where their skills and expertise deliver real advantages (Hill et al, 2004, p317). What a focus strategy entails is the focus on a niche market, which can be defined by, in Macquarie’s case, the type of customer and geographical region (Hill et al, 2004, p317). Although this strategy entails cost – control due to lower output levels to reach a scale of economy, Macquarie bank has grown so much that it does not have to take this part of the theory into too much account. Additionally, since Macquarie has created some unique attributes and competencies to its products and services accompanied by their high level of service quality it has given them a competitive edge by using this focus strategy. This has allowed Macquarie to charge higher rates which has aided them in reaching the scales of economy. However, the issue of a focus strategy, in Macquarie’s case, is that by minimising their risk by entering possibly slow growing economies can minimise their growth rate. This is due to the environmental and operational environment which they have no control over which can eventuate in that market to grow exponentially. Although this can be predicted, it cannot always be acted upon with enough haste to reap the maximum benefits. This leaves room for other competitors to move in and take advantage of this risk. Thus this strategy implemented by Macquarie can hold potential growth defects for them if they hold to this strategy too closely. Recommendation: To combat this market selectivity, Macquarie needs to manage change throughout the organization. The changes which it will introduce will establish a sense of urgency. Strategic leadership can assist in making that change happen within Macquarie Bank. Strategic leadership is the process of providing the direction and inspiration necessary to create, provide direction to, or sustain an organization or an organizational unit Dubrin et al, 2003, p400). An Innovative way to expand within the same banking industry and yet keeping the same image of Macquarie’s high scale markets is driving convergence which also helps redraw industry boundaries. Instead of competing with competitors, it can compete with its own financial advisory services. Another way to compete is imitation. Macquarie can benchmark their performance to other high scale ba nks globally and use two key components; strategic follower ship and learning by watching (Dubrin et al, 2003, p410). Justification for Recommendation Offering a higher quality than its competitors, can help combat markets selectively. Customer’s service, for banks is one of the ways total quality management, can be used. The variable which makes TQM possible is extensive employee involvement. Other hot topics are corporate social responsibility, it is a well-researched field of management and it provides guidelines for leaders about how to be more accountable to a new global economy. After the advents of Enron, topics of CSR and Corporate governance have emerged as ways to prevent people working in highly funded projects to have some form of transparency within the system. Macquarie which is Australia top investment bank should undertake such a role as they are leaders in the industry. Conclusion to Macquarie Banks strategic approach In summary, we have gone through a historical overview of Macquarie Bank and have come up with the expected result from this power house institution. Macquarie bank is an institution known for its complex ways of handling its organization, critics say it is like ‘wrestling in the dark with a ghost’ (Schwab, A; 2007). After evaluation of strategies we realize that Macquarie is a bank which provides prestige for Australia and has a high reputation in the minds of many. References Australian Bankers Association, (2007), ‘The Australian Bankers’ Association’s role,’ (online) http://www. bankers. asn. au/default. aspx? FolderID=2 (Accessed 13th September 2007) Australia Competition and Consumer Commission, (2007), ‘Role and Activities,’ (online) http://www. accc. gov. au/content/index. phtml/itemId/54137/fromItemId/3744 (Accessed 13th September 2007) Australia’s Free Trade Agreement, (2007), ‘Benefits of Free Trade Agreements for Australia,’ (online) http://www. fta. gov. au/default. aspx? FolderID=239=187 (Accessed 13th September 2007) Australia Prudential Regulation Authority, (2007), ‘Streamlined data collection for life companies and friendly societies,’ (online) http://www. apra. gov. au/media-releases/07_15. cfm (Accessed 13th September 2007) Australian Securities and Investment Commission, (2007), ‘ASIC at a Glance,’ (online) http://www. asic. gov. au/asic/ASIC. NSF/byHeadline/ASIC%20at%20a%20glance (Accessed 13th September 2007) Bendigo Bank, (2007), ‘Corporate Governance,’ (online) http://www. bendigobank. com. au/public/about_us/corporate_governance/corporate_governance. asp (Accessed 13th September 2007) Chen, T, (1999), Critical Success Factors for Various Strategies in the Banking Industry, vol 17 issue 2/3. Commonwealth Bank, (2007), ‘Company Profile,’ (online) http://about. commbank. com. au/group_display/0,1922,CH2047,00. html (Accessed 13th September 2007) Dubrin, Dalglish Miller, (2003), Leadership, 2nd edition, John Wiley and Sons, Australia Hill, Jones, Galvin, Haidar, (2004), Strategic Management: An Integrated Approach 2nd edition, John Wiley and Sons, Australia Investopedia, (2007), ‘Debt-Equity Ratio,’ (online) http://www. investopedia. com/terms/d/debtequityratio. asp (Accessed 17th September 2007) Macquarie Bank, (2007), ‘About Macquarie Bank,’ (online) http://www. macquarie. com. au/au/about_macquarie/index. html (Accessed 10th September 2007) Macquarie Bank, (2007), ‘Corporate Governance,’ (online) http://www. macquarie. com. au/au/about_macquarie/corporate_governance. htm (Accessed 8th September 2007) Macquarie Bank, (2007), ‘Financial Report 2007,’ (online) http://www. macquarie. com. au/au/about_macquarie/acrobat/financialreport2007. pdf (Accessed 11th September 2007) Macquarie Bank, (2007), ‘History of Macquarie Bank,’ (online) http://www. macquarie. com. au/au/about_macquarie/company_profile/history. tm (Accessed 10th September 2007) Macquarie Bank, (2007), ‘Macquarie Bank 2007 Annual review,’ (online) http://www. macquarie. com. au/au/about_macquarie/acrobat/annualreview2007. pdf (Accessed 11th September 2007) Macquarie Bank, (2007), ‘Macquarie Bank announces 60% increase in profit and 47% increase in dividends per share,’ (online) http://www. macquarie. com. au/au/about_macquarie/media_centre/200705015a. htm (Accessed 17th September 2007) Macquarie Bank, (2007), ‘Major Seven Major Business Groups,’ (online) http://www. macquarie. com. au/au/about_macquarie/company_profile/mgmt_organisation/six_groups. tm (Accessed 11th September 2007) Macquarie Bank, (2007), ‘Management and Organisation Structure,’ (online) http://www. macquarie. com. au/au/about_macquarie/company_profile/mgmt_organisation. htm (Accessed 16th September 2007) Reserve Bank of Australia, (2007), ‘Structure and Functions of the RBA,’ (online) http://www. rba. gov. au/ActionPlan/index. html (Accessed 13th September 2007) Appendices Appendix 1 Focussed product differentiation A key element that has helped Macquarie differentiate its services from their competitors is how they have selected their market segments; however, this will be discussed in the next section. The reason they have a distinctive service differentiation from their competitors can be based on their values that they hold within the company. These values are; high ethical and professional standards, commitment to clients and growth, motivating and retaining quality staff, creating aligned staff and shareholder rewards and stringent reporting to create a high level of accountability (Macquarie, 2007) Focussed market segmentation Macquarie’s focussed market segmentation plan is to target a preferred demographical segment. They target the areas where they can best maximize their business as well as service their customers to the expectations that customers would hold from this prestigious company. They have a large commitment to the people they service as well as constant improvement to deliver higher standards of services and products to those people. As mentioned earlier, they expand selectively, seeking only to enter markets where Macquarie’s particular skills and expertise deliver real advantage to clients Focussed distinctive competency Another factor that has given Macquarie its strategic advantage would be