Dow Chemical Business Analysis Essay

Historically, the chemical industry has operated in a competitive environment, which is not anticipated to change. Dow experiences significant competitions in each of its operating segments as well as in each of the geographic areas in which it operates. Dow competes globally on the foundation of quality, technology, price, and customer service and operates in an integrated manufacturing environment. Basic raw materials are processed through many stages to produce many products that are sold as finished goods at different points in the process. Dow has two major raw material streams that feed the production of the finished goods which are chlorine-based and hydrocarbon based raw materials. (Dow Chemical Company, n.d.) Business Environment The business environment of Dow is one that has strategically positioned itself to withstand the ever-changing forces of economic, social, political and technological factors it faces daily. Dow consistently identifies opportunities and new technologies before its competition which stimulates their industry-leader position. (1) Financial Health Dow has great financial strength. Their sensible financial discipline has proven beneficial in recent global economic challenges and has actually helped position it for future growth. The recent global economic challenges forced Dow to take steps towards strengthening and diversifying its portfolio. The company has come out on the other side of the challenges with a portfolio that is better equipped for economic uncertainties. (Dow Chemical Company, n.d.) During 2011, Dow: * had double-digit gains in revenue and earnings per share * posted  record revenues at a Company level, as well as in emerging geographies * introduced â€Å"game-changing† investments and partnerships that will allow the Company to capture more demand in the world’s fastest growing regions * recognized a stronger than ever before R&D innovation pipeline Analyzing the data attained from Dow’s 2011 financial statements confirm the Company’s financial heath and sustainability. Dow’s Liquidity ratio is a follows: Current Assets = 23,442 million Current Liabilities = 13,634 million Liquidity ratio = 23,422/13,634 = 1.72 Dow has $1.72 of current assets for every $1.00 of current liability. The current ratio should be at a 2 or greater to be considered a safe risk; however, Dow is a reputable global organization accepting the investment to be a safe risk. Dow’s Acid-test ratio is a follows: Cash = 5,444 million Accounts Receivable = 4,900 million Measurable Securities = 7,057 million Current Liabilities = 13,634 million Acid-test ratio = 4,444+4,900+7,057/13,634 = 1.28 Dow has 1.28 acid-test ratio. The ratio needs to be between a 0.05 and 1.0 to be satisfactory. The acid-test ratio determines whether an organization has enough short-term assets to cover immediate liabilities without selling inventory. (Nickels, McHugh, & McHugh, 2010, p. 20-21) Dow’s ratio is just slightly above 1.0, allowing it to be considered satisfactory. Dow’s Debt to owners’ ratio is as follows: Total Liabilities = 27,476 million Owners’ Equity = 22,281 million Debt to owners’ ratio = 27,476/22,281 = 1.23 or 123% The debt to owners’ ratio should be anything 100% or less. (Nickels, McHugh, & McHugh, 2010, p. 20-21) Dow is just over; however, other competitors in the industry have similar ratios signifying debt financing in the chemical industry is more acceptable and commonplace. Dow’s Return on sales is as follows: Net Income = 3,200 million Net Sales = 52,985 million Return on sales = 3,200/52,985 = 0.06 or 6% Return on sales for Dow is slightly lower than its researched competitors in producing income from sales. Competitors As previously stated, the chemical industry is a highly competitive environment. Two of Dow’s leading competitors include BASF and DuPont. BASF is the world’s leading chemical company with about 111,000 employees and just under 370 production sites worldwide. BASF serve customers and partners in almost every country in the world. In 2011, BASF posted sales of $73.5 billion. (BASF web site) BASF’s Liquidity ratio is a follows: Current Assets = 27,088 million Current Liabilities = 16,447 million Liquidity ratio = 27,088/16,477 = 1.64 BASF has $1.64 of current assets for every $1.00 of current liability. The current ratio should be at a 2 or greater to be considered a safe risk; however, BASF is a reputable global organization considering the investment to be a safe risk. (Nickels, McHugh, & McHugh, 2010, p. 20-21) BASF’s Acid-test ratio is a follows: Cash = 2,048 million Accounts Receivable = 10,886 million Current Liabilities = 16,477 million Acid-test ratio = 2,048+10,886/16,477 =. 78 BASF has a .78 acid-test ratio. The ratio needs to be between a 0.05 and 1.0 to be satisfactory. The acid-test ratio determines whether an organization has enough short-term assets to cover immediate liabilities without selling inventory. (Nickels, McHugh, & McHugh, 2010, p. 20-21) BASF’s ratio is in line and right where it should be; furthermore, considered satisfactory in regards to this measure. BASF’s Debt to owners’ ratio is as follows: Total Liabilities = 35,790 million Owner’s Equity = 25,385 million Debt to owners’ ratio = 35,790/25,385 = 1.41 or 141% The Debt to owners’ ratio should be anything 100% or less. (Nickels, McHugh, & McHugh, 2010, p. 20-21) BASF is just over; however, other competitors in the industry have similar ratios signifying debt financing in the chemical industry is more acceptable. BASF’s Return on sales is as follows: Net Income = 6,188 million Net Sales = 73,497 million Return on sales = 6,188/73,497 = 0.08 or 8% Return on sales is higher than Dow’s and lower than DuPont. Another strong competitor is DuPont. DuPont is a world leader in market-driven innovation and science. DuPont brings science and engineering to the global marketplace through innovative products, materials and services which enable their customers in almost all industries to meet the current and future needs of society. (DuPont.com) DuPont’s Liquidity ratio is a follows: Current Assets = 18,058 million Current Liabilities = 11,185 million Liquidity ratio = 18,058/11,185 = 1.61 DuPont has $1.61 of current assets for every $1.00 of current liability. The current ratio should be at a 2 or greater to be considered a safe risk; however, DuPont is a reputable global organization permitting the investment as a safe risk. (Nickels, McHugh, & McHugh, 2010, p. 20-21) DuPont’s Acid-test ratio is a follows: Cash = 3,586 million Accounts Receivable = 4,598 million Measurable Securities = 433 million Current Liabilities = 11,185 million Acid-test ratio = 3,586+4,598+433/11,185 = .77 DuPont has a 0.77 acid-test ratio. The ratio needs to be between a 0.05 and 1.0 to be satisfactory. The acid-test ratio determines whether an organization has enough short-term assets to cover immediate liabilities without selling inventory. (Nickels, McHugh, & McHugh, 2010, p. 20-21) DuPont’s ratio is satisfactory. DuPont’s Debt to owners’ ratio is as follows: Total Liabilities = 39,899 million Owner’s Equity = 8,593 million Debt to owners’ ratio = 39,899/8,593 = 4.64 or 464% The Debt to owners’ ratio should be anything 100% or less. (Nickels, McHugh, & McHugh, 2010, p. 20-21) DuPont is significantly over this desired range at 464%, indicating that the significantly financed based on borrowed funds that must be paid back. In comparing this ratio to industry competitors, DuPont is still considerably over. DuPont’s Return on sales is as follows: Net Income = 3,474 million Net Sales = 37,961 million Return on sales = 3,474/37.961 = 0.09 or 9% DuPont’s return on sales is strong when comparing DuPont to Dow and BASF. Technological Advantages Dow’s innovation sets them apart from the competition on numerous levels. Dow is the world’s: * largest and most experienced ethylene and chlorine producer * largest producer of chlorine and caustic * leader in the production of purified ethylene oxide As of December 31, 2011, Dow owned a total of 18,120 patents world-wide. These patents protect the results of its research. The company had revenue related to patents and technology royalties of $437 million in 2011. Today, Dow’s innovation efforts further supports a new level world-wide growth, generates strong cash flows and enables them to commercialize or bring the technologies to the market. (Dow Chemical Company, n.d.) Dow’s innovations from 2011 include: * DOW POWERHOUSE Solar Shingle – a solar panel which aesthetically looks like a shingle for the housing industry. * PASCAL Technology – a new polyurethane insulating solution to boost energy efficiency in appliances. * EVOQUE Pre-Composite Polymer Technology – allows paint manufactures to maximize hiding efficiencies. Globalization In an effort to satisfy the demands of a growing world, Dow is putting their innovations to work on every continent. In 2011, 32% of sales were gained from emerging geographies. Dow’s increasing investment into developed and emerging regions of the globe is empowering them to take advantage and capitalize on growth where it is happening. (Dow Chemical Company, n.d.) Benchmarking Dow’s vast and well-balanced portfolio enables the company to face the complex realities of today and the future head-on. The company has united its businesses with geographies and end-markets for significant growth. Dow is commercializing game-changing technologies today that are delivering real value to the bottom line. In 2011 nearly one-third of its sales were from products launched in the last five years reinforcing their strategic goals. DuPont is an industry leader in safety. DuPont quickly realized that in order for the organization’s safety mindset to be successful, safety had to be embraced from the top down. The safety culture of the company has proven successful in many areas. In 2000, over 90% of DuPont’s sites world-wide, operated with zero injuries, an unheard of accomplishment. In addition, DuPont has leveraged its acclaimed safety program and had provided safety training to other companies including General Motors, GE and Alcoa, Inc. (Vinas, 2002) Conclusion Dow is the third largest chemical company in the world. The healthy business environment fosters sustainability for decades to come. Dow offers financial and technological strengths with a promising future in the world-wide market. References Nickels, W. G., McHugh, J. M., & McHugh, S. M. (2010). Understanding Business (9th ed.). : McGraw-Hill. Dow Chemical Company. (n.d.). Retrieved from http://www.dow.com BASF Chemical Company. (n.d.) Retrieved from http://www.basf.com DuPont. (n.d.) Retrieved from http://www.dupont.com Vinas, T. (2002, Summer). Best Practices DuPont safety starts at the top. Industry Week, (), Retrieved from http://hhtp:www.industryweek.com/articles/best_practices_—_dupont_safety_starts_at_the_top

Promote Person Centred Approaches Essay

1.1 Person centred planning (PCP) should encompass every aspect of a service users support. Effective PCP is designed to ensure that the individual’s needs are always central when creating an effective support plan. Aspects such as an individuals goals, history, communication requirements, likes, dislikes and personal preferences should all be dutifully incorporated to create a fair, effective and unique care plan. For example, we have to respect the choices of the User. If the spiritual believes could appear not adequate for us, doesn’t mean that we are right and they are wrong. We need to do everything we can for help to promote adequate and good care for this user respecting their choices, independence and privacy. 1.2 The Care Plan is our bible. It provide all the information we need to provide the care  that the Users desire. The person is at the centre of our work, this mean we need plan and let the person to maintain their independent. Care Plans need to be review regularly to fulfil the individuals needs. Using effective care plans that apply person centres values provides the service user the chance to create a plan that it directly linked to their values and needs. Nobody likes to feel as though a generic method of care is applied when considering his or her support needs. Everyone is unique with requirements that relate exclusively to them 2.3 It is important to remain flexible when considering a service users support needs. An individual will always be changing and growing so it is important that this is reflected within their care plan. For example when I have previously supported NP goals relating to his ability to gain confidence whilst walking outside had to be met in a way that made the goal attainable. At first a goal of independent walking had been included within his IPP however any strict detail as to why and how this were to be most effectively achieved had to be assessed whilst communicating with him during our 1:1 support sessions. It turned out hat this goal was advised so that he could gain the confidence to go to work independently  without the need to get a life from his relative. As we would commonly visit the supermarket we created a method whereby the journey to the local supermarket was broken into segments where he would walk independently, slowly managing a further and further distance each week. Had I said that he should walk the entire journey by himself without breaking it down into manageable steps this goal would have not been completed. Therefore the effective completion of this goal was only attained through the needs of the individual being met on a personal level. 3.1 Mental capacity can be a complicated and ever adapting benchmark when assessing a person’s ability to do what is best for themselves. People must always be allowed to make mistakes as this will always be an inalienable human right of any individual. Ensuring that people do not put themselves or anyone else in direct  and immediate danger is the reason behind why the mental capacity act has been created. Factors such as anxiety and tiredness can affect an individuals ability to express consent which is reflective of their true needs. When a care plan is created it is always best to do it at a time and place where a service user feels relaxed and able to express their needs in a manner that is in alignment with their true feelings. For example at time times when I have supported ES he has been unable to convey a true account of his feelings due to being anxious at the time. If this is the case it is best for ES to spend some time doing relaxation exercises so that he can effectively participate in the design of his IPP. 3.3 For example when we admin Medications Stop any other activities we are doing, check and read all the information we have (care plan, MAR chart, blister pack †¦ ) Log in the LogBook. If anything happen, report immediately to line manager, inform the user and report it in the LogBook. If consent cannot be readily established an assessment of the persons capacity would need to be carried out. Firstly it would have to be considered that the individual understands what they are being asked to do, why they are being asked to do it and to what the concequences of their  choices may be. It is worth considering if they are relaxed, tired or preoccupied at this time. It can be beneficial to implement relaxation exercises to try and calm down a service user or even getting in touch with their family to ensure that their needs are fully met. If they are putting themselves or anyone else in immediate danger it can at points be necessary to contact emergency services depending on the severity of the situation. However this should always remain a the last option available when trying to diffuse a situation. 4.1 Encouraging people to do as much as possible for themselves , settings goals and task. Listening and acknowledging someone strengths and weakness. Allow individuals time to think and evolve in what they want to do. Recognising achievements however big or small they have made. If they cannot understand or make decisions by their self, the next of kin will be informed and asked. The order usually is spouses, parents, children (this may change) 5.3 Risk assessments are a vital part to an individuals care plan. It ensures that they will not be putting themselves or anyone else in danger. Whilst being an important part of any care plan they should remain as non invasive as possible to ensure that a service users retains the right to make their own choices. Certain risk assessments will contain a higher risk factor than others. It is when risks such as crossing road in a dangerous manner are enacted that the service users choice can become secondary to the fact that they are putting themselves in immediate danger. Risk factors such as ones that relate to dietary factors often have a smaller risk factor making it more possible to fully involve the service user in the decision making process when trying to effectively manage the risk in question. 5.4 Ensuring they have the correct information and know when these decision were made on their behalf. Inform them of the rights that they have. Assisting on searching of more information which that may help them make their decisions. If they would  like to make a complaint, inform them the Company policy and help them in  making the complaint if necessarily 6.1 : Personal Identity is the way we see our self and is related to our self image. This is important because it we will affect the way we feel about our self ( self esteem ) Personal Identity includes: Who we are What make us unique What are our values Physical identity Internal Identity Personals Goals 6.2 Those can be very different for different reasons but everyone can reach a good level of fulfilment. For someone could be physical or mental health. Is important that everyone knows this fact because will improve well-being and therefore our level or care. For example one person is important be eating a health meal or for another is not important. Or for an individual is important go to church but for other is more appealing watching a TV show. 6.3 When supporting an individual it is important to make sure that you can meet their needs in a way that promotes their sense of identity, self-image and self-esteem. When I have supported MC he has explained about how he has felt unfairly treated at work. This was mainly due to his lack of career progression as well a request for a transfer not being met, although having been promised. To help with this we constructed an information leaflet about his condition, which we gave to his employers so that they were fully aware of how to best interact with him. I also started communicating with his employer about getting a transfer to a branch that was closer to where he lived. As a result of this he has now been transferred closer to where he lives as well as feeling more valued as an employee. This has helped with develop his self-identity and self image through an increased sense of self worth as well as helping to improve his self-esteem. 7.1 A Risk Assessment will be done depending on the circumstances and surrounding. Like if the user live in the community or live in a care home. The risks are different in those scenarios and different actions need to be taken for make the living area safe. Risk assessments help decipher whether an individual needs 1:1 support or 2:1 support. They can also allow health  care professionals to implement safeguarding techniques to guarantee that the service user will not come into harm. This can include procedures such as giving individuals location devices if they are prone to wondering of whilst not being fully aware of their actions amongst many other advantageous practices to ensure the individuals safety. 7.2 The purpose of risk assessment is to eliminate any risk that may cause harm or loss to both service user and carer worker. However, in relation to the service user is important to remember their human rights are respected. For example the right to choose. If they are assessed also for a Mental Health Capacity and the outcome show that they are able to decide they are allow to make unwise or eccentric decisions. However it is important to identify the risk or possible outcomes, inform the Service User which will support to make a decision that will possibly involve taking some risks. 7.3 : Everyone’s circumstances could change over time in better or worse. Is important to identify any furthers changes or risks so the care plan can reflect the person immediate needs. Also people opinions and what they wants may change. Is important to keep the â€Å"person centred care approach† in mind all the times and during reviews. Also keep in mind our duty of care. the goal of effective support is help empower service users to the point where they feel able to lead an independent and rewarding life. As this is the goal of any support provider they must be aware that for one to achieve this they need to learn to manage the risks that they are subjected to in an independent manner. Therefore as a person grows and develops towards a heightened state of independence it is important to let them take control of their own lives and that means realising that risks that they may have formerly posed a threat to their well being will be withdrawn as they will know how to autonomously manage these hazards themselves.

Ethical Principles of Psychologists & Code of Conduct Essay

What is it about each of these studies that makes them unethical? The Milgram experiment In the Milgram experiment the people who played the role known as the teachers, were intentionally tricked. Based on the Code of Conduct 2 where pretext may be ethically admissible. It was the way that Milgram did so that was not ethical by today’s standards. For human participants the codes cover topics such as deception, consent, withdrawal of data, confidentiality etc. The Little Albert experiment It is argued that conducting the experiment was unethical. There is no clear evidence that Little Albert developed at rat phobia after maturity. Though he was never desensitized because of lack of time, life would sooner or later desensitize him anyway. The only evidence of being unethical was lack of consent by Little Albert’s since he was only a 9 month old baby, he couldn’t very well do so himself. Consent was given on his behalf by his parents and it was Little Albert whom endured distress while being involved in Watson’s experiment. The blue eyes and brown eyes experiment According to supporters of Elliott’s approach, the goal is to reach people’s sense of empathy and morality. Two professors of education, Goodson and Sikes say that what Elliot did was unethical because the exercise was psychologically and emotionally damaging. â€Å"She has been accused of scaring people, breaking the school rules, humiliating children, being domineering, angry and brainwashing.†4 Does the benefit of learning the results of these studies outweigh the potential harm of conducting the studies? Why or why not? The Milgram experiment In the Milgram experiment there was psychological harm, which was not as bad  as initially thought, because of Milgram debriefing the teacher immediately after the experiment. With 40 year hindsight, this particular study does outweigh the potential benefit verses harm. The Little Albert experiment With Little Albert it was fear that was imposed on him, involuntarily. Being only 9 month old probably didn’t produce any permanent or longer term fears, the short term effects where not humane, especially to a 9 month old baby. The blue eyes and brown eyes experiment It’s known as a lesson of a life time in history. When Elliot did the exercise 37 years ago, she changed the lives of the children in her class forever. The experiment, it’s self was not looked upon in Elliott replied, â€Å"Why are we so worried about the fragile egos of white children who experience a couple of hours of made-up racism one day when blacks experience real racism every day of their lives?†6 If you wanted to replicate these studies, what (if anything) could you do in order to meet the APA’s Code of Conduct and ethical standards? The Milgram experiment If I wanted to duplicate The Milgram Experiment, I would do so based on the guidelines of the APA’s Code of Conduct and Ethical Standard. Starting with not withholding the truth how the experiment was to be conducted and make all parties involved aware. And allowing the participant’s to leave or quit the experiment at any time they became uncomfortable. The Little Albert Experiment The only way to be able to do this experiment is with full knowledge and consent. A 9 month old baby couldn’t give that. The best way would be to allow only adults, 18 years and up. The blue eyes and brown eyes experiment Even though there was so much controversy in 1960. Times are different and have come a long way. Without doing the experiment on different age groups back then and now, I am not sure of how profound the outcome may be opposed to The Lesson of a Lifetime!

Death Penalty Research Paper Example | Topics and Well Written Essays - 750 words

Death Penalty - Research Paper Example Cases can be located in Australia (New South Wales) under the 1997 Young Offenders Law, as well as in New Zealand’s Family Act of 1989 (Woolf, 2008). In 2006, John Pears, then 21 years old, was forgiven by the family of a victim for being involved in the death of their third-born, 22 years old, son, Peter Jackson (Marzilli, 2008). John was driving the car the two were in while seriously drunk after having a night out at a nearby club in their Columbus-located, Ohio, residence. The two were involved in an horrible accident and Jackson ended up losing his life. After various court deliberations, John was sentenced to 10 years in prison for driving under the influence and also causing the death of Jackson. However, it was later established that Jackson was the one that persuaded John to get drunk and forced him to drive him home while drunk. The victim’s family was left with no other option but to forgive John for the mistake. What I am trying to bring out by giving out th is case is that there are always two sides to a story. One might argue that John deserved a death sentence and nothing else, but he was not the main cause of the accident. This might be the case in the inmate in topic, as well. Therefore, it would be better if the victim’s family considered listening to the side of the inmate. Also, not matter the case, such an endeavor by the victim to approach one of the members of the victim’s family is totally an invasion of privacy (Gaie, 2012). However, there are lawful ways that the inmate could have tried so that the family could be aware that the inmate wants to talk to them. A legal means could be much easier and it would ensure that no wrangles came up the way they are now (Kronenwetter, 2010). With regards...The inmate who is considered to have commit murder was given a death sentence pleaded to meet with the family of the victim in order to explain the truth of the matter. It was as if the inmate was seeking the forgivenes s of the victim’s family. Now, as much as the victim’s family considers it an offence that the inmate even thought about approaching them, they should be aware that there are some laws, which allow the victim to make such a loom. I come from the same family and it is easy to understand what the members are going through after losing one of their own. Seeking to explain to the family what truly took place in order for them to have sympathy on the inmate will certainly not bring back the victim. However, some of the laws that the family should consider include restorative justice, inmate forgiveness and right to privacy. The family should be aware of the family group conferencing. The victim’s family is allowed to conduct a family group conference with the inmate since the victim cannot be incorporated in the meeting. Even though, such cases are normally prevalent in juvenile cases, it is permitted in such a matter because the victim is diseased and the family is the one filling the suite. Cases can be located in Australia under the 1997 Young Offenders Law, as well as in New Zealand’s Family Act of 1989.With regards to various theories of mortal, values and consequences, the family should be aware that the inmate is also human and listening to his or her views are the most considerate they can do.

Air Pollution in Ontario Essay Example | Topics and Well Written Essays - 1250 words

Air Pollution in Ontario - Essay Example There has a problem of urban sprawling that has become a cause of major pollution in the capital. (Marianne, 2000) Air pollution has been one of the major problems that have been affecting the city of Ontario for along time now. It has been a subject of study and research but there have been little that has been done in order to mitigate the situation. Air pollution in Ontario has been contributed by the rising urban sprawl in the area. Thus has come with a lot of problem with multiple effects on the health and general life of the people in the area. Urban sprawling has seen the gobbling up green space in the southern part of Ontario. This has been happening at an alarming rate which has come with a lot of environmental impacts in the area. According to the Neptis Foundation which has been monitoring the issue, there are addition 260,000 acres of rural land that is expected to the urbanized by 2030. This shows that it will be double the rate of the current size of the city of Toronto. This has been compounded by the fact that about 92% of the land in Ontario is best for farmland. Urban sprawling in the areas has lead to a lot of effects. It has led to destruction of green space and farmlands which has affected the rate of food production in the area. There has been an effect of river pollution and pollution of other water ways and streams. The population has been forced to be over dependent on vehicles which has been having a lot of air pollution with the consequential problem of climate change. (Ontario Greenbelt alliance, 2008) It has been shown that the Golden Horseshoe area on Ontario has been growing with more than 115,000 people coming in the area every year. In the coming 15 years, it is estimated that it will be the third largest urban region in the North America behind New York and Los Angles. This has been coming with a lot of problems and strains for the population living in the city. The Toronto area has also approved the development for 128,000 acres of land since 1989 which has been at a rate of 9,100 acres every year. The Toronto region conservation authority has shown that increased loss of biodiversity is having an effect on the natural resource. For example of the 180 animal species that are found in greater Toronto, 110 have been classified as having a risk of extinction due to encroachment of their land. These are some of the problem that has led to the compounding problem of urban sprawling in the area. In this regard there have been many problems that have come with the increase in population and the consequent reclaiming of arable land for the purpose of settling the population. In comparison to other cities around the city of Toronto has been adversely affected by the problem of increasing population since the local authority had to deal with the problem of increasing access of basic services to the population. There are several problems that have come as a result of increase in the population of the province in general. (Bates, 1997) Challenges of urban sprawling in Ontario There have been several effects that have resulted from urban sprawling in Ontario. These have resulted from the increasing population pressure and decreasing land resources and amenities to accommodate the population. In specific there has been

Student Participation Essay Example | Topics and Well Written Essays - 750 words

Student Participation - Essay Example This type of passive response is self-explanatory, the students are hesitant to admit in public that they do not understand the lesson. The admission of such fact is associated with embarrassment and shame since other students would perceive that learner as slow. Unfortunately, the whole class feels that way towards themselves. Anxiety from past unpleasant experiences brought by humiliation either from teachers or fellow students is a strong motivator in keeping one’s self from actively participating in discussions. This is where the role of utilizing response cards becomes important. The learner can participate in learning by joining the group in responding to the question. The inconvenient feeling brought by anxiety is lessened since everybody is exposed when giving out an answer. The group becomes engaged in collaborative learning where nobody stands out nor left out. The first benefit of using response card is helping students overcome their anxiety when participating in class, consequently, frequent interaction that merits a positive response boosts the morale of the learner. This translates to positive reinforcement that would intrinsically motivate the student. The second benefit that response cards provide to the teaching of Math is that it acts as an effective assessment tool for the teachers. It is a common fact that students dislike types of assessment since evaluation of academic performance is always correlated with paper and pencil examination. The mere term â€Å"assessment† already gives a negative connotation for learners since it is associate with failing grades and unkindly remarks from some parents. However in the case of response cards, the students do not easily realize that an assessment is going on. The questions are viewed in a positive way by perceiving it as a challenge. Sometimes, response cards are even seen as

Aviation Unions And The Aviation Industry Essay

Aviation Unions And The Aviation Industry - Essay Example The trip took about 20 minutes, and the one-way fare was $5. The service ceased at the end of Florida's winter tourist season, but it was the first such venture that indicated scheduled air service could be commercially viable. Similar passenger services in the United States and Europe soon followed. The world wars triggered great revolutions in aircraft's capability and use. At the end of the First World War enterprising commercial air carriers took advantage of the disabled ground transportation system and the large surplus of aircraft and pilots in Europe. By 1930s government-sponsored airlines were operating well beyond Europe to the Middle East, Africa, Asia, and even Latin America. In the United Sates commercial aviation in the private sector was enabled by two historic laws in the mid-1920s: The technological impetus in aircraft capability and manufacturing capacity made enormous strides during World War II. At the end of the war all these efforts were directed towards commercial aviation. Governments around the world regulated the air transport industry primarily because of the nature of safety and security concerns involved. In 1978 U S deregulated the aviation industry. This allowed air carriers to serve any domestic market and charge whatever they thought the market could bear. Airline deregulation was intended to foster competition in the air transport market and bring better service and lower costs. The air transport industry has grown enormously in the second half of the 20th century. The number of passengers worldwide grew from 177 million in 1965 to an estimated 3.3 billion in 2000. The number of U.S. airline passengers for the same period increased from 103 million in 1965 to an estimated 666 million in 2000. Aviation industry experienced an upheaval after Sep tember 11. The world wide economic downturn had already affected the industry very badly and September 11 was the final nail on the coffin. With the sustainability of industry coming under strain new concepts of cooperation and understanding between airline companies started evolving. For airline carriers, deregulation created both opportunities and dangers. During the 1980s many new airlines were launched and most of them bombed when existing carriers intensified competition by expanding into markets they had not previously served. Mergers and acquisitions followed as carriers vied for greater share of the pie. To retain profitability airlines resorted to the 'outsourcing mantra.' The savings achieved through outsourcing were very attractive to ignore. Therefore, outsourcing has become an accepted and established form of cost savings mechanism not only in aviation industry but in many other sectors also. Although the organized labor is generally against the concept of outsourcing, they are forced to accept it in the overall interest of the company's survival. Professor Peter Turnbull (1) of Cardiff University Business School, who conducted a study on behalf of International Labor Organization, says that evidence suggests "the global economic slowdown was already

War is Kind by Stephen Crane Essay Example | Topics and Well Written Essays - 1000 words

War is Kind by Stephen Crane - Essay Example The poem ‘War is Kind’ is the use of sarcasm approach of the author to sway the mind of the readers to be critical of the war showing the reality. This reflects that the author has made a sarcastic approach to define the destructive events of the war, such as; the sarcastic approach of writing the poem creates a sense of confusion and provokes the mind of the readers. The phrases the poems are emotionally heavy to appeal the attention and emotion of readers (Crane). It provides a real picture of human emotions, describing the condition of mother’s feeling at the time of the death of his son then ending the stanza with ‘War is Kind’ provokes the mind of the readers to critically think about consequences of the war (Crane). Crane make use of the figurative language in the poem to create a strong visualization among its readers, such as the author makes use of ‘Mother whose heart hung humble as a button, on the bright splendid shroud of your son, do not weep. War is kind† (Crane line 23). This shows that the author shares the pain of the mother’s heart and at the same time says War is kind (Crane). He makes use of ‘heart hung humble as a button’ to explain the feeling of a mother at the time of the death his son. In addition, the author has also related the courage of solider with the animal accordi ng to their glory and characteristics. The second stanza of the poem ‘glory’ is associated with the bird characteristics, as the phrases portray that glory fly, but the glory cannot fly (Crane). This creates a sense that the ‘glory’ is associated with a flying bird, such as a falcon or eagle. The metaphor is to associate the glory with the bird to demonstrate soldiers (Crane). The metaphor in the stanza of the poem relates more solid with the eagle, demonstrating their courage and fearlessness (Crane). The use of the different figures, body organs and number spontaneously creates strong visualization among the mind of the readers  (Crane).  

The guarantee of freedom of (and from) religion in America Assignment

The guarantee of freedom of (and from) religion in America - Assignment Example For example, the government is prohibited from enacting laws that aid any religion or establish an official state religion. All this is in a bid to achieve the separation of the state and church at both the state and national levels of government. In the Everson v. Board Education, the court provided a list of activities that violate the establishment and are prohibited by the First Amendment (National Paralegal College 1. They include: the setting up of a state church; the passing of laws which particularly aid one religion or aid religions generally; the forcing of or influencing of persons to attend or not attend church; the punishing of individuals for ascribing to particular beliefs or disbeliefs or for not attending or attending church; the levying of taxes to support religious activities or institutions and; the participation of government in religious organizations or participation in government by religious organizations. The Free Exercise clause is a provision that guarantees an individual the right to propagate or practice a religion without interference by government. Several activities violate the free exercise clause. First, if the purpose of any government action or state law is singling out religion for adverse treatment or hindering or discriminating against a particular religion, then it amounts to a violation of the free exercise clause. ... In Engel v. Vitale in 1962, the Supreme Court termed as unconstitutional a prayer recommended to be part of the public school curriculum in New York State. The Supreme Court struck the prayer down as unconstitutional. In Lemon v. Kurtzman in 1971, a three-pronged test known as the Lemon test was established to determine if a statute is in violation of the establishment clause. Students in public schools are not allowed to recite prayers. However, the practice of a legislature by the state to open its sessions with a nondenominational prayer that is recited by a chaplain has managed to withstand constitutional challenges. In Marsh v. Chambers in 1983, the Supreme Court made a ruling that such a practice was not in violation of the establishment clause (LII 3). In Edwards v. Aguillard in 1987, the Supreme Court struck down a Creationism Act in Louisiana that prevented the teaching of evolution in public schools. This issue still creates debate even today regarding creationism and evolu tion. Other key rulings include Lynch v. Donnelly, West Virginia State Board of Educatio v. Barnette, Wisconsin v. Yoder, and United States v. Lee. 3. What does Tocqueville observe with relevance to these matters? Tocqueville approaches the issue of religion in a pragmatic manner. Tocqueville observes that the American society has a scarce history of state-church alliance. Also, it has a constitutional guarantee against this alliance. Despite this, the American society is extremely open to religious practice’s favorable influences. In his observations, Tocqueville (1) notes that all Christian groups propound a similar morality which is based on loving God and loving their neighbors. This means that they all agree that man has duty to other men.

The Death of Marilyn Munroe Research Paper Example | Topics and Well Written Essays - 1000 words

The Death of Marilyn Munroe - Research Paper Example The police officer drove to her home and confirmed that she was indeed dead. However, there were many questions about Marilyn’s death, which needed answers, moreover, till to date there are questions that beg to be answered. Different explanations and theories that have been forwarded to explain her death especially accidental, suicide or murder, which can be explored to determine which is the most credible and why despite the fact that an official report on her death was issued (Possible suicide) the story is still subject to a myriad of speculations. Despite the plethora of theories, the official explanation is still the most logical, and despite the many loose ends and mysterious circumstances surrounding it, it best explains the available facts. However, one must take cognizance of the fact that, like the others, it was not a watertight explanation. The most sensational and explored theory was that she was murdered. This is highly characteristic in celebrity deaths, and of ten a cottage industry of conspiracy theories spouts in the wake of one. The reason the murder conspiracy theory generated so much interest was the implicating the two most powerful men in America, President J.F Kennedy and his brother Robert Kennedy. It is alleged from several unverifiable sources that Monroe was having an affair with the president whose amorous nature was â€Å"a well-known secret†. However, due to her irrational behavior and that fact that she had become somewhat obsessed with the idea of becoming first lady, Kennedy decided to cut her loose. Several witnesses, one of them a police officer alleged to have seen Robert near the scene on the death. Is it possible that one or both of them could have been complicit in the death of the actress? It was claimed that security agents might have killed her in order to cover up for the brothers indiscretions, since they are said to have discussed national security issues with her. That question may appear easy to a co nspiracy theorist trying to make the most sensational story, but the lack of evidence and the moral standing of the attorney general make it a decidedly unlikely story. However, there is evidence of a cover up in that there was a lot of missing evidence or evidence that seemed to have been tampered with. The autopsy results also left many questions since and many factors did not add up. Telephone records of the night were confiscated, and despite the official assumption that she swallowed the pills, there was no evidence of water or a glass in her room. There were also allegations that the body had been posed to appear like suicide, however, tampering with evidence is an entirely different thing from murder so one cannot presume that she was killed. The theory of accidental death is more credible than the murder, possibly owing to the fact that there was empirical evidence supporting it. However, due to its non-sensational nature, it has not been as explored as the former. On the pr emises that the death was accidental, there two distinct possibilities, one is that she overdosed herself by accident, or she was taking wrongly prescribed medication. Drs. Greenson and Hymans had been working together to wean her of Nembutal the drug which she is believed to have been one of those responsible for the death. Another consideration was that the doctor, who gave Monroe a heavy dose of Chlorate on the eve of her death, might not have done so if he knew she

A Comparative Legal Political Analysis on Child Labour in India and Dissertation

A Comparative Legal Political Analysis on Child Labour in India and Pakistan - Dissertation Example Consequently, I am writing this proposal after the research and dissertation has been finished. As requested, I have written the proposal as if the research had not yet been conducted, and have provided additional information where required. Objectives The aim of this research was to examine how people in India and Pakistan perceive child labour and what the differences in perceptions were. This information will be related to the international and national laws concerning child labour that employers in India and Pakistan are subject to, and what changes need to be made to decrease the prevalence of child labour. To address the research aim, a mixed methods research approach will be taken, using both qualitative and quantitative aspects. Proposed methods It was determined that to accurately determine the differences between the two countries, a large sample size will need to be taken. Because child labour is a sensitive topic in both India and Pakistan, it was important that the resea rch was non-invasive and did not require much time out of the participants. Consequently, a multiple-choice survey was designed containing ten questions. Using a multiple-choice survey allows the results to be quantifiable, and has the additional benefit of allow participants to maintain their anonymity. In order to bypass potential response bias and low response rate, the survey will be distributed in two forms, by mail (to 100 people in each country, using random sampling methods) and by handing out the survey in person (100 people per country). This method should allow for adequate numbers of respondents, to research the questions for this topic. Because the results from these surveys would be broad and the design did not allow individual perspectives to be shown, it was determined that a second part of the research project will also need to be undertaken. This component of the research will involve face-to-face interviews with five participants from each country, representing a range of industries. The aim is to interview two employers from industries that traditionally hire child labourers, two lawyers and one adult worker from the same industry. However, it may be difficult to find people who are willing to talk openly about child labour, so these allocations may not be exact. Each interview will be between ten minutes and an hour in length, depending on how willing the subjects are to participate. Ethical considerations Subjects who participate in this study will be given an informational page along with the survey which informs them about the study (Appendix 1) and what the data collected will be used for. Participation in the survey will be taken as informed consent. Likewise, all participants in the verbal interviews will be given information about the study, and the implications will be discussed prior to the beginning of the interview. Individuals will be given the option to opt-out of the study if they were not comfortable with the information, an d participation will be assumed to mean informed consent. The method of survey taking that will be used allows participants to remain entirely anonymous. Participants will not be asked to identify themselves in any way, and no identifying information will recorded. In addition, information on what addresses the survey is sent out to will not be recorded. Consequently, there will be no way to determine the individual identities of the people who participate in the survey. The interview portion of the study involves the researcher talking face-to-face with the participant. This is more difficult, as the researcher will be aware of the identity of the individuals that are part of the interviews. However, their anonymity will be maintained and no personally identifiable information will be

Basic Cash Management Process Essay Example for Free

Basic Cash Management Process Essay Every company can be viewed as a cash pool into which funds flow from various sources. Several techniques are used to speed the collection of such funds. Conversely, cash flows out of the pool for payables and other disbursement reasons. An important aspect of cash management is to control tightly both cash inflows and outflows. When cash inflows exceed cash outflows, surplus cash builds up. This surplus can be used to repay debts or for investment in marketable securities. Alternatively, when outgoing funds exceed the inflow, the firm must raise money by borrowing or by selling some marketable securities. THE CONCEPT OF FLOAT A cash managers job is to make payments to others as slowly as possible and to convert into cash – or clear – payments received from others as quickly as possible. The reason is float, the most important element of cash management. Float is the amount of uncollected funds moving through the financial transfer system. It shows up as the difference between the balance shown on a firms checking account and the balance on the banks books. For example, suppose a firm writes, on average, $100,000 of checks daily. If it takes four days for checks to clear and be deducted from the firms bank balance, the firms own books will show a cash balance that is $400,000 less than the banks records indicate. The firm has the use of these funds, called disbursement float, as long as this situation persists. On the other hand, the firm loses the use of check-clearing float – one component of collection float – on the checks that it has deposited in its account but that have not yet cleared. Suppose the firm deposits $90,000 in checks every day, and these checks clear in three days on average. The firms books then show cash balances that are $270,000 larger than the banks books indicate. Thus, the firms net float – the difference between its $400,000 disbursement float and its $270,000 check-clearing float – is $130,000. This means that the firms actual cash balance is $130,000 greater than its recorded cash balance. The firm can invest or otherwise spend these excess funds. The float on an individual item can be measured in dollar-days and is calculated as the amount of the check multiplied by the number of days of delay until that check clears: Alternatively, the average daily float can be calculated as the average daily receipts multiplied by the average delay in collecting each dollar.   The average delay in collecting a dollar equals the total dollar-days of float divided by the total amount received during the period or Average Delay The existence of float lies at the core of every system designed to accelerate, decelerate, or control corporate funds. By reducing collection float, the corporate treasurer can accelerate cash flow and enhance the return on current assets. Similarly, corporate cash flow may be improved by increasing disbursement float. The value of decreasing collection float or increasing disbursement float is tied to the opportunity cost of funds. It can be measured as   Value of Float = Dollar Amount of Float times Time times Interest Rate For example, suppose a firm can reduce the collection time on $5 million of receivables by three days. Assuming that it will invest this money at an annual interest rate of 10 percent, it will earn interest at a rate of .10/365 per day on the $5 million. Therefore, the value of a three-day reduction in collection float is $5,000,000 times 3 times 0.10/365 = $4,109.59 If collections ordinarily average $5 million daily and the company managed to reduce the float permanently by three days, it would then be able to free up $15 million in working capital. At 10 percent interest, this reduction in float is worth $1.5 million ($5,000,000 times 3 times .10) annually. Using a 10 percent discount rate, the present value of this permanent reduction in float is $15 million ($1,500,000/.10). Reworking this example with a different interest rate, say 6 percent, reveals that if the company can permanently free up $15 million in working capital, its shareholders will be $15 million richer ($900.000/.6), regardless of the interest rate. In other words, the value created by a permanent reduction in float is independent of the interest rate. Collection Float Collection float is the time that receivables spend in the process of being collected. It consists of the following four elements: 1.Invoicing float is the interval from the time a company creates an invoice and mails it to the customer until the customer places the payment in the mail. During this phase of the collection cycle, the cash manager has no control over the funds. 2.Mail float, the next phase in the cycle, is the time taken by the U.S. Postal Service to deliver the customers check. 3.Having received payment, the company experiences processing float, the flow of the check through the companys accounting system on its way to be deposited. 4.Finally, there is check-clearing float. This is the time it takes to clear each check deposited. Invoicing float may be reduced only by changing the payment terms. The other three types of float are controllable. A.2 discusses the various means to accelerate the collection of funds. Exhibit A.1 illustrates the various types of collection float.

Report on Human Resources Management Practices of the Burberry Group

Report on Human Resources Management Practices of the Burberry Group Burberry group is a leading luxury manufacturing company in UK. Burberry group established in 1856 and recently it celebrated its 150 years in history. In this year it announced the closure of its Welsh factory. A PESTEL analysis is conducted to evaluate the external environment of China. It assists the firm to run the business in host country. SWOT analysis also plays an important role to find out the company objectives and identifies the internal and external factors that are favorable and unfavorable to achieve that objective. For the entry in the market of china and recruitment of managerial level employee, company uses the geocentric approach. This approach helps to find the best and experience employee for the company. Table of Contents Executive Summery 2 Table of Contents 3 Introduction 5 PESTEL Analysis 5 Political: 5 Economic: 5 Social: 5 Technology: 6 Environment: 6 Legal: 6 SWOT Analysis 6 Strengths: 6 Weaknesses: 7 Opportunities: 7 Threats: 7 Key Issues 7 Sourcing Strategy: 7 Equal Opportunity: 7 Trade Union: 8 Supply Chain: 8 Advantages of Factory Move: 8 Disadvantage of Factory Move: 8 IHRM Approach 8 Geocentric Approach: 8 Recommendations 9 Action Plan 10 Clarify Goals: 10 Recruitment: 10 Coaching the Employees: 10 Motivation and Performance Appraisal: 10 Employee Satisfaction and Feedback: 11 Conclusion 11 References 12 Introduction Burberry is a leading and luxury brand name in UK, deals with the different brands that approach women, men and kids. Burberry was established in 1856 in England and celebrated its 150 years in manufacturing the lifestyle products and its accessories for women, men and for the kids. Burberry has around 260 directly operated stores. Addition, the also sold its products through concession with a wide network of 71 third-party operated retail locations and wholesale customers. All the wholesalers of the firm are leading prestige retailers. At the end of fiscal year 2006, the company generated  £743 million revenue. This revenue generated by the company from Europe, Japan, North America and from Asia (Burberry, 2010). PESTEL Analysis The PESTEL analysis of China and UK are as follows: Political: China is governed by the communist party. The communist party is not support the foreign players in domestic market. Some political decisions, taxes, policies are not support the environment of business. As well as in the UK, government has a major impact on businesses. The political party provides the best supportive infrastructure to the companies (Central Intelligence Agency, 2010). Economic: Economic condition is good in China. It shows constant growth rate in GDP with 7 to 8 Percentages every year. GDP per capita income is also shows the growth at US$ 6,100 in 2008 and US$ 6,600 in 2009. UK is one of the most powerful economies in the world with a gross national per capita income of US $ 41,520 in 2009 (Gross National Income Per Capita, 2009). Social: China is a culture with high power distance, reflecting that there is a large difference between consumers social status. Language barriers are one of the challenges when western companies entered in Chinese market. In UK, social status of consumers is high and uses the luxury products for the social status symbol (Central Intelligence Agency, 2010). Technology: China has become one of the powerful countries in innovations and technologies. Chinas 60 percentages of technologies including atomic energy, space, high- energy physics and biology, computer and information technology have reached or are close to the worlds advance level. UK is a develop country in the world. UK firms are at or near the forefront in technology advances, especially in aerospace and military equipment. In UK, internet users are increase with the population of 48.755 million and the internet hosts are 7.03 million in 2010 (Central Intelligence Agency, 2010). Environment: China faces the environmental problems like water shortages, water pollution from untreated wastes, and loss of one fifth agriculture land since 1949 due to soil erosion and economic development (Central Intelligence Agency, 2010). UK trying to reduce its greenhouse gas emissions and government also trying to reduce the amount of industrial and commercial waste (Central Intelligence Agency, 2010). Legal: China governed by one communist party so, the companies in china legally bounded with the law of china and work according to the law. But in recent years in UK, there have been many significance legal changes that affected firm behavior like introduction of age discrimination and disability discrimination legislation, an increase in the minimum wages. SWOT Analysis The SWOT analysis of Burberry Group plc is as follows: Strengths: According to Pahl Richter (2009) Burberry group is a leading luxury brand in UK. Companys major strength is its brand name, trademarks and other intellectual property. Company growing its licensing channels worldwide, those delivering high incremental return on incremental capital. The company manufactures the heritage products in clothing with the quality, function and modern classic style. Weaknesses: According to Bà ¶hm (2009) company has a vertical integration that reduces the profit margin and the value from manufacturing. Company has an apparel segment in its profile that has increased fashion risk and affects the companys profits. Opportunities: The Company has a good opportunity of expansion of retail network and wholesale distribution in other countries. Company has an opportunity to restructuring of its Spanish operations in order to gain Spain to its global business modal and introduce the Burberry global collection in the market. According to Ferrell Hartline (2008) Company has an opportunity to extension of its apparel offering to the existing and future customers. Threats: According to Henry (2008) the main threat of Burberry group is to control the over licensees and wholesale accounts. The company refines its sourcing strategy that process affects relationship with suppliers. Company is mono brand and trademark that increasing in fashion risk in the market. Company faces the problem of counterfeiting in the market. Key Issues The key issues of Burberry group are as follows: Sourcing Strategy: The sourcing strategy affects relationship with existing and potential suppliers during the transition period because there is evidence in case study that the company refine its sourcing strategy for selection of suppliers to maintain and increase product quality and improving sourcing efficiency ( From Case). Equal Opportunity: Company creates the policy of equal opportunity to recruit the most capable candidate for the job and develop competent employees. In this policy all employees receive fair and equal environment in the company (From case). There is an evidence that company believes, the communication is important between company and the employees for building relationship and motivating employees. Trade Union: Trade union played a powerful role in a company decisions and strategies. Employees make a trade union to protect the rights in organization. There is evidence in case that GMB trade union was successful in delaying the closure date of the Burberry factory and warehouse in Treorchy. Supply Chain: There is evidence in annual report 2005/06 that company come with some initiatives to redesign its supply chain. The corporate social responsibility committee of Burberry Company considers supply chains that include maintain acceptable labour, environmental and social practices. Advantages of Factory Move: Move the factory in other country; gain the market reputation in other country. Company gains the competitive advantages In China raw material and labour is cheap rather than Treorchy. So, company gains the cost efficiency in their production. To moving the factory in other country, company can increase in market share. Disadvantage of Factory Move: To moving factory in other country, employee losses his job. Company faces the cultural differences to move the company in other country. Company faces language differences to move the company. China is communist country, there are some policies, rules and regulation for establish a company. This makes difficulty for Burberry group to move the company in china. IHRM Approach Company can adopt the geocentric approach for the international human resource management in china. The geocentric approach is as follow: Geocentric Approach: According to Briscoe, Schuler Claus (2008) geocentric approach, the firm can hire best people in all executive position according to their ability and knowledge rather than nationality. Burberry group can use its human resource most efficiently by transferring the best person to the job. In Geocentric approach, company coordinates its subsidiaries and headquarters for decision making activities. It can be helpful to make a stronger relationship network among the entire global management team because of continues interaction and networking help to understand the country culture and work place among the team members (Briscoe, Schuler Claus, 2008). The advantage of geocentric approach is that this approach offers the good opportunity to all executive level employees work in different countries. This approach helps to build a team of executives who understand the international operations. According to Vance, Vance Paik (2006) this approach helps to build a global limited vision and loyalty for the company. In this approach the HR director can follow the standardization policy for recruitment of executives. In this policy, HR director can follow the standard criteria for recruitment of managerial level employees. There is evidence in the case that Burberry group established a corporate social responsibility committee in 2005 for giving the equal environment and opportunity to the employees in the manner of money and facilities. In this environment employees are rewarded according to their contribution in the company. Company has some standard to recruit the candidate to gain the most capable job candidate and develop competent employees. China is a communist country so, most of the large foreign company, especially multi-national companies operate its business with the association of china government partners. In this approach company can face the implication of cross culture conflict and control. In an analysis of high performing companies with the multinational management teams proved that culture difference gives the advantages of business. There is evidence Wei (2001) that this culture difference might even contribute to a competitive advantage by providing a broader range of perspectives for managing the company within such complex economic and cultural system. Recommendations On the analysis of china HRM and the market position of the company, it is recommended that the company should conduct a market analysis in the china. It can be helpful to understand about the competitors in the market. According to Wei (2001) in order to enter in the Chinese market, company should use the joint venture strategy with Chinese luxury product manufactures. It would be helpful in the growth of the firm in Chinese market. There is evidence in case that Burberry group has worldwide network of licensed directly operated stores, concessions, third party operated retail location and a network of wholesale customers. This would be helpful to growth in market share of china. According to Courtis, Ratcliffe Allsop (2006) China is a number one in population in the world so, the labour easily available at less cost for the production. It would be helpful to produce the products at cost efficiency. That will be helpful to increase in market share and competitive advantage. In china, company should enter with the joint venture with other company; this can be helpful to gain managerial advantage in the market because the employees of other company and management know about the culture and language of the country. They have a deep knowledge about the market and situations, it would be helpful to grow in the market and increase in market share. Action Plan The Burberry group PLC makes the action plan to manage the people aspects in both Wales and China are as follows: Clarify Goals: To manage the people aspects of this problem, HR director should define the company goals to all the employees in the organization. It will be helpful to understand about the mission and vision of the company. By the clarify goals, employees will be motivate to do work with effectively and efficiency (Bratton, Gold, 2001). Recruitment: The HR director should recruit the most skilled and motivated employees for the organization. The employees should have the knowledge of their field as well as roles and responsibilities. The entire process of recruitment is monitored by the human resource manager. Coaching the Employees: Training of the employees is another function of the HR director. By the training, an employee can communicate and develop strong relations with the other people. Training provides the knowledge about the organization. It defines the companys long term vision and mission. Motivation and Performance Appraisal: By the motivation an employee can give the best performance in the company. A human resource director should organize a session and lectures that keep the employee update about the competition in the market (Bamberger Meshoulam, 2000). Performance appraisal and compensation is also one of the main responsibilities of the HR director. Employee Satisfaction and Feedback: A HR director should provide the facilities to the employees for motivating. It should be in term of monetary and other criteria. HR director should take the feedback from the different departments about the employees (Courtis, Ratcliffe Allsop, 2006). HR director should understand the feedback of the workers and this lead to a well-organized management of the workers. Conclusion From the above discussion, it can be concluded that Burberry group Plc is a leading company in manufacturing the luxury products for women, men and kids. Its corporate management strategy involves selling high quality products at lower cost to the customers. Company operates its business through licensed retail network and has a good opportunity to expend this network in other countries. Company gives god working environment to employees through corporate social responsibility committee. Burberry group is going to redesign its supply chain network and sourcing strategy for gaining the competitive advantages from the market. It can be concluded that company decides to closure its factory in the other country to gain the global competitive advantages and produce the low cost products. For this, company should merge with other global based company and open new stores in country.

Caligula Was The Most Sinister Psychology Essay

Caligula Was The Most Sinister Psychology Essay Caligulas father, Germanicus, was the grandson of the well-regarded Emperor Augustus and the nephew of Emperor Tiberius, the adopted son and the successor to his fathers throne of power. When Emperor Augustus died, he left Tiberius in command to become the royal heir to the emperor. Although, Tiberius knew that Geramanicus was next in line to rule, his jealousy and insecurities kept him from appointing him as the next emperor of Rome. Unfortunately, Germaicus died mysteriously, leaving his dedicated supporters and his family, grief stricken. After Caligulas father demise, he moved three times until he joined Tiberius on the island of Capri. It was rumored that during one of those moves, Caligula began an incestuous relationships with his sisters. While on the island of Capri, Caligula was forced to suppress his feelings, once he learned that Tiberius were responsible for the death of his father, mother and siblings. However, due to Caligula ability to control his emotions, he began to act out his aggression through sexual deviant behaviors on men and women; sometimes, making the men watch as he had sex with their wives and daughters. Tiberius had two sons, Nero and Drusus, who he was grooming to succeed him as emperor, but as fate would have it, both died too young, leaving Caligula next in line to become emperor. After Tiberius died, Caligula became the emperor of Rome. He was generous, thoughtful and prodigious during the first months of his reign. He freed political prisoners, pardon those who were exiled and terminated the treason trials. He implemented games and chariot races, in which became quite popular during his reign. He established a rapport with the Senate and later adopted his cousin, Tiberius Germanicus as his son and heir. Approximately six months later, the Emperor who was well-revered, became the well feared. An illness fell upon the Emperor when he was thirty-seven years old, causing possibly delirium. Although, Caligula may have been cruel and sexual perverted before his illness, but after his recovery, there were significant changes his behavior. His behaviors were even more bizarre, brutal and deviant. He later regarded himself as a God; would lavishly spend money to build a marble house for his horse; tormented his prominent and influential senators by ordering them to run for miles in front of the chariot; had sex with his supporters wives; built a two miles bridge out of boats, so he could ride his horse back and forward over the floating bridge; and ordering the men to shave their hair, because he was losing his hair. As to make matters worse, Caligula had his adopted son and heir to the throne, Tiberius Germanicus murdered. Next, he ordered the revitalization of the treason trials, so he could confiscate the losers property for money. This infamous tyrant was murdered by several of guards after serving merely fourteen hundred days in office. Caligulas personality could best be explained by identifying the most obvious characteristic or social skills of a person (McAdams, 2009). In reviewing the set of psychological traits and mechanisms within the individual, is to comprehend the influences and interactions Caligula had to adapt to within his environment, which includes the six domains of knowledge: dispositional, biological, intrapsychic, cognitive-experimental, social and cultural and adjustment. During 12 AD, there were no means to detect lead in the water system, so this could have effected Caligulas body development and growth. According to the Mayo Clinics (2011), small amounts of lead in children who are exposed to lead poisoning can experience mental and physical problems. From infancy to toddlerhood, the most important physical development is an infants body weight, motor skills and reflexes, as well as, sensory and perceptual abilities. Although, there is limited information about Caligulas early childhood, there are documentations of Caligula experiencing irritability and behavioral problems as a child. Historian documents more about biological changes during early adolescence to early adulthood, such as Caligulas unusual body weight and height. Caligulas body structure could be the results of exposure to lead poisoning. In examining how environmental factors that can influence an individuals growth, is to consider ideas from William Sheldon (McAdams, 2009). Sheldon (McAdams, 2009) was one of the most interesting philosophers of his time as he examined and introduced the idea that body feature may influence and possibly predict certain characteristics of an individuals personality. During his exploration into this area, he identified three different forms of human physiques, for example, endomorph visceratonic, mesomorph somatotonic and ectomorph cerebrotonic. Sheldon argued that a high correlation occurs between physique and behavior, in which could have affected Caligulas mental state. Historian documented that Caligula was tall in height with a skinny neck and scrawny legs. Also, he had a receding hair line, hairy body and his forehead was unusually large. One can only image the names he was called growing up and how it shaped his personality. Piaget (McAdams, 2009) contended that an individuals mental mode of thinking can relate to schemata. Schemata are defined as an individual who understands the basic concept of the world (McAdams, 2009). The basic concepts of these ideas are centered on three basic schemata, for example, sensorimotor, symbolic and operational schemata. These three basic concepts of the world, lays down a framework for a child to begin with concrete interactions and progress to a more symbolic and intellectual thinking process. During the sensorimotor or cognitive development stage, it was undetermined if Caligula experienced a delay in object performance (McAdams, 2009). Piaget maintained that when an infants develops the capability to imitate what they see, their reflex goes far beyond, whats in their environment (McAdams, 2009). As Caligulas personality and cognitive skills began to transform into a dictator, a more controversial theory emerged that could explain his behavior that is dissimilar from Sheldon and Piagets theories. Raymond Cattell, psychologist, argued that an individuals personality is defined as behavioral prediction (McAdams, 2009). During Cattells exploration in this personality arena, he identified three different classification of personality data, such as, life data, questionnaire data, and test data (McAdams, 2009). If historian was able to use this type of analysis during Caligulas reign of terror, the data combination from all three sources and the sixteen personality factor questionnaire, could have accurately foretold his character traits and improve behavioral predictions (McAdams, 2009). McAdams (2009) contended that a persons personality can be best described as inappropriate behavior and characteristics that can deviate from the norm that is explained in the Diagnostic and Stati stical Manual of mental disorders. Several theorist and historians suggest that Caligula exhibited a combination of narcissistic and antisocial personality disorder (McAdams, 2009). The mixture of the two makes one reflect on several of the most prolific serial killers of the century, for example, Manson, Gacy, Bundy and Dahmer. All were grandiose, lack sympathy for others, need or commanded admiration, cruel, aggressive, lack remorse, destroyed property or deliberately injured people (McAdams, 2009). The combination of the two was Emperor Caligulas character. McAdams (2009) discussed Kohlbergs theory concerning moral thinking or reasoning. Kohlberg contended that an individuals moral reasoning is undeveloped and this is the reason a person commits a crime. Kohlbergs stages of moral development are best described as preconventional, conventional and postconventional. Hans Eysencks theories differed from Eysencks personality theories (McAdams, 2009). Eysenck argued that certain personalities are born to commit atrocities (McAdams, 2009). He contended that a persons environment such as exposure to poverty and the wrong criminal element, can possibly account for criminal behavior. This can be better explained with terms proximal and distal contribution. Eysenck makes the argument that there are only three personality types, instead of Cattells sixteen traits. The four types of traits are extraversion, introversion, neuroticism and psychoticism. Psychoticism appeared to be the trait that Caligula displayed, gradually from childhood to adulthoo d. Although, it was documented by historians, Caligula was secretively cruel towards his followers, but after his close death experience due to an elevated fever, his behavior seemed to blatantly escalate to delusion of grandeur, extreme cruelty and antisocial behavior (McAdams, 2009). The torture techniques he ordered or participated in behind closed doors, was now done openly for his own personal amusement. Also, Eysenck questioned if genetics and biological functioning has anything to deal with genetics after investigating criminal behavior with the twin adoption method. In examining this concept is to examine Costa and McRaes Big Five traits, such as, extraversion, neuroticism, openness to experience, agreeableness and conscientiousness, Caligulas personality matched the facets of neuroticism, such as anxiety, angry hostility, depression, self-consciousness, impulsiveness and vulnerability. These traits sketched an outline of the persons personality and psychological qualities, yet, Allport contended that a persons trait is characterized as the consistency and coherence of human behavior which is called common traits and personal disposition. He further broke down these comparison and personal dispositions into different varieties, such as cardinal disposition, central disposition and secondary disposition. Building on the works of other theorists and causing years of controversy, Michel maintained that behavior is much more situationally specific than cross-situationally reliability (McAdams, 2009). He proposed that trait labels occurs more in the minds of spectators than in the actual personality of the individual being observed. In Caligulas case, his overall pattern of cruelty was linked to a certain stimuli, for instance, as a result of his excessive spending habits; he would raise taxes or extorted money from individuals who participated in the treason trials. In examining the behaviorist and the socialist view pertaining to Caligulas personality is to study the behavior that is learned in the environment. There are two different fundamental forms of learning such as classical and instrumental conditioning, in which Caligula displayed quite often. He would reward those who worship him and executed individuals who spoke against him. In studying personality, the most comprehensive and controversial theories of Sigmund Freud was his in-depth case studies. His original and cutting edge theory of personality was based on the hypothesis that there are two key elements of which our personality is based on, the consciousness and unconsciousness, whereas, Psychologists, John Dollard and Neil Miller maintained that observed drive, cue, response, and reinforcement was the critical component in personality. This was regarded as a series of learned behaviors. Freud argued that a persons personality is an organized in a psychological and physical compon ent inside a person. This component has the ability to create and determine the individuals unique characteristic behaviors. Historian documented that when Caligula was three years old, he would accompany his father on several of his military campaigns. One can only guess, how many times Caligula was left unattended in the company of soldiers, who either demonstrated or exposed him to perverted desires that he locked in his unconsciousness that were too disturbing or horrible to keep consciously aware. Although, there are historians who chronicled Caligulas childhood, there is limited information if he was molested as a child; yet, there are chronological record of events of him observing Emperor Tiberiuss brutal behavior towards men and women, especially those who spoke against him. This may have been the foundation that shaped Caligulas behavior and personality, in which psychologists calls observational learning. The positive version of this behavior is called modeling, yet, as C aligula exposure wasnt exactly positive. Bandura argued that when children imitate adults behavior, they can astonishingly create and plot torture strategies of their own. At a young age, Caligulas early message was that aggressive behaviors towards others were acceptable and being merciful with their captive does not stimulate the same aberrant responses. Caligula innate and thirst for control and power molded a miniature Tiberius. Even though, Freud ideas has met harsh criticism, he may have been on to something in understanding the basic structure and psyche of an individuals psychosexual development. Freud contended that a persons personality represents a power struggle hidden within himself; that the id controls our impulses, therefore, when the ego is able to negotiate between the id and superego, the superego is able to keep a person on the path of moral integrity and proper conduct. Furthermore, Freud argued that a persons unique character is the product of how an individual s behavior develops during childhood. As a child, Caligula suffered many challenges during his early stages of development in which possibly effected his growth and maturity, wherein Freud called the oral stage, anal stage, phallic stage, latency stage and genital stage. Probably during the psychosexual development called the latency stage, the onset of the puberty stages became dominated. Historian writes of Caligulas selfishness and pleasure seeking behavior, as he engaged in inappropriate conduct to get what he wanted, in which was acquired through, abnormal, calculating, heartless and unpleasant manner.

Narrative Criticism of McPhee :: Monopoly New Jersey Essays

Narrative Criticism of McPhee "Do not pass go. Do not collect two hundred dollars." We’ve all heard these phrasesfromthe board game Monopoly. Monopoly, however, isn’t merely a game.It wasbased on an actual city. "The Search for Marvin Gardens" tells of Monopoly’s relation to Atlantic City, NJ. In this narrative criticism I will examine several main characteristics of the piece. In doing so, I will try to answer the question, "How has Atlantic City changed due to a greedy, capitalistic attitude?" I believe that this question makes a good connection to thepiece’s description of the changes in the features of the city. "The Search forMarvin Gardens" is a section of the book Pieces of the Frame byJohn McPhee. Farrar, Straus, and Giroux published the piece in 1975. Thecomposition itself is fifteen pages long. It tells of Monopoly’s connectionsto a realworld location, Atlantic City, NJ. In order to write a narrative criticism of McPhee’s "The Search for Marvin Gardens",I firstread and gave a comprehensive examination of the narrative. To dothis,I looked at several characteristics of the piece. I decided that thesetting,the characters, and the theme were the most important characteristicstothis piece. Other characteristics such as the narrator, events, temporalrelations, casual relations, and audience are not quite as important inmycriticism of this piece. To look at the important characteristics, youmustask yourself questions about the piece. How does the setting changethroughoutthe piece? How does the setting relate to the plot and characters?How isthe setting created? Who are the main characters? What are the physicalandmental traits of the characters? What is the major theme of the narrative?There are several other questions you may ask, but they do not prove asrelevantto this piece. The aforementioned questions are significant becausethey helpanswer t he research question. A participant in a game of Monopoly narrates the piece. He not only pictures the game board. He sees the corresponding locations in Atlantic City. The plot line ofthe story follows the narrator in search of Marvin Gardens. Along the wayhe sees the difference between the way things were, and the way they usedto be. In "The Search for Marvin Gardens", there are basically four physical settings: the Monopoly tournament, Marvin Gardens, Atlantic City of the past, and Atlantic Cityin the 1970s. McPhee alternates between the settings with great regularity,and the tempo of the story is constantly changing.

David Gutersons Snow Falling on Cedars Essay examples -- Guterson Sno

David Guterson's Snow Falling on Cedars The early 1940’s were tough times for many Japanese living in America. This is all due to the Japanese and American conflict in World War II, after Japan decided to bomb Pearl Harbor. After this incident many Japanese-Americans were discriminated against and were thought of as bad Japanese instead of the Americans they were. A lot of these Japanese-Americans were unfairly sent to internment camps in the United States. This is also true of the incidents that take place in the fictional novel Snow Falling On Cedars, by David Guterson. The discrimination all started at about 8:00 AM on December 7, 1941. At this time the Japanese assembled a fleet of planes and attacked Pearl Harbor, which is located off the shore of Hawaii. The Japanese decided to attack the United States because the U.S. enforced an oil embargo against Japan. This attack included a striking force of 353 Japanese aircraft. This was done by total surprise, before there was even a formal declaration of war. This was a well-planned time for the attack seeing how there were about 100 of the United States ships present on that day. At the same time there was an attack on a nearby field. This attack destroyed 18 of the United States aircraft (Pearl 1). During the time of the attack on Pearl Harbor, there were 127,000 people of Japanese decent that were living in America. Many of the Americans began to fear that these people were going to turn on America and help out their country of ancestry. The following quote shows what it was like for many Japanese living in America. Some 1,500 â€Å"enemy aliens† who were thought to have connections with Japan were immediately rounded up and interned by the De... ...s, the eyes of a man hiding something (269).† The Americans judge the Kabuo because of his squinted Japanese eyes. They think that his eyes show that he is hiding his guilt. The novel Snow Falling On Cedars shows a lot of the same prejudice that was around in the real world during World War II. This book was just a fictional story, but it definitely did deal with the situation of the real world at that time. Hopefully one day all races and ethnicities can unite and live in one place with out prejudice. Works Cited Arrington, Leonard. The Price of Prejudice. Logan, Utah: The Faculty Association Utah State University, 1962 Guterson, David. Snow Falling on Cedars. New York: Vintage Books, 1995 â€Å"Korematsu V. US† â€Å"Pearl Harbor: Remembered†

My Teaching Philosophy :: Education

My Teaching Philosophy Being an effective teacher is very important to me. I have had many teachers that I will never choose to model, but I also have those who were so wonderful that I will always hope to become like them. Every educator I have had has affected my life in some way and helped me to develop my ever changing philosophy of education. As I begin my journey into the world of art education, I will take all of my experiences with me as learning tools for the future to help me become an effective teacher. I will achieve my goal of becoming an effective teacher and positive role model by developing my views on the nature of students, the nature of knowledge, the purpose of a public education, curriculum and plans for my professional development. Taking a look at my views on the nature of students, I have come to realize many things. Children are born with a natural curiosity. They are excited by discovering new things. Every child is a blank canvas that is begging to be painted upon, desiring to be shown their world. However, a child’s learning ability relies on factors than a basic human instinct to learn. These two factors are heredity and environment. I believe in multiple intelligences and there is no standard to say one child is more intelligent than another, but due to genetics, some children naturally learn more quickly than others. This has been evident in my own life. An example is the students I observed for Education 210 were divided into groups according to their math abilities. This division was not to separate smart from unintelligent students, but to allow the students to learn at a level best for them. Each child learns at a different rate; some just catch on faster than others. I believe that environment has a much stronger effect on a students learning ability than heredity does. The child who is encouraged to learn is much more likely to succeed than one who is not encouraged.

Isolation in Wuthering Heights

Wuthering Heights, by Emily Bronte, is set in the detached Yorkshire moors during the early nineteenth century and depicts the lives of two contrasting families. Because Wuthering Heights was written during the Romanticism movement, many characteristics of the movement are reflected by the novel. The characters' reasons for becoming isolated are universal and can be connected to situations found in modern music. Bronte reveals universal aspects of the human condition by highlighting the manner in which the characters become isolated- either by their own choice or unintentionally.Catherine has made herself ill by refusing food and drink for days. Believing she is on the verge of death, Catherine becomes hysterical and remembers her childhood with Heathcliff. During this episode, Catherine reveals her true feelings about her marriage to Edgar and her longing to be a child again. â€Å"I had been wrenched from the Heights, and every early association†¦ at that time, had been conve rted at a stroke into Mrs. Linton†¦ : an exile, an outcast† (pg. 118). Catherine has unintentionally isolated herself from where she belongs and is miserable in the high-society culture of Thrushcross Grange.Although Catherine believed raising her social status and obtaining material objects would make her happy, it is not the case. Catherine does not fit in with the mannered and refined society at the Grange and realizes she truly belongs with Heathcliff. Catherine longs to be a child again because she had freedom in nature with Heathcliff, her true love. A similar situation occurs in A Billion Ernies' â€Å"Hermit Crab†. In this song, the anonymous speaker feels tortured and alone although they have all the material objects one could wish for. This is torture at its finest state/ My blankets are warm and there's too much on my plate/ †¦ but I think I'll sleep under the stars tonight/†¦ I feel content†¦ lying on a rock, sleeping in a tent/†¦ I' ve got everything I need right here/ I thought I had it all† (A Billion Ernies). Warm blankets, a plate of food and a glowing fireplace do not satisfy the speaker. The speaker feels isolated in her/his current situation and longs to be free. Having freedom in nature fulfills the speaker more than having materialistic wealth. The speaker in â€Å"Hermit Crab† and Catherine were isolated in their situations although they had material riches.Both realize where they truly fit in, where they could be free from isolation, and no longer believe material objects and riches lead to happiness Catherine Linton has recently given birth to a child and passed away. Shortly thereafter, Isabella unexpectedly arrives at the Grange flustered and upset. Isabella tells Nelly of a violent fight between Hindley and Heathcliff, which has caused her to run away. These evens cause Edgar Linton much grief and he to chooses to isolate himself from society. â€Å"He refrained from going anywhere where he was likely to see or hear of Heathcliff.Grief, and that together, transformed him into a complete hermit† (pg. 173). Edgar Linton experiences intense grief as a result of the death of Catherine Linton and the fleeing of Isabella and isolated himself at the Grange. These events cause Edgar to question where he belongs and his purpose in the world, which he contemplates while isolated. Similarly in â€Å"What Hurts the Most†, by Rascal Flats, the anonymous speaker is lamenting the loss of a loved one. The speaker's loved one passes away before he has a chance to say everything he wants to her, which is what hurts him the most. It's hard to deal with the pain of loosin' you everywhere I go†¦ / It's hard to force that smile when I see our old friends and I'm alone/ Still harder gettin' up, gettin' dressed† (Rascal Flats). The speaker finds it difficult to live without his loved one and see the friends of his loved one. Simply getting up in the morning is difficult for the speaker because he is now questioning the world. After the death of a significant person, facing society is difficult and sorrow causes isolation and confusion. Many of the universal, everlasting truths of the Romantic movement are still present in prose today.Even in today's society, people feel isolated when they do not belong in a place, no matter what the reasons. Worldly objects do not bring happiness and only a sense of belonging brings freedom from isolation and peace of mind. Also, even in modern times, the loss of someone close causes mixed emotions about life and a person's sense of belonging. The death of a loved one continues to cause such intense lamentation that a person may choose to isolate himself/herself from society. The human condition is timeless.

Investement

This case was prepargond by Boris Morozov and Rebecca J. Morris twain(prenominal) from the Univer presenty of Nebraska at Omaha. The views presented here atomic bet 18 those ofthe case authors and do not of necessity reflect the views ofthe Society for p hot-fashi wizardd Research. The authors views atomic trope 18 based on their own eitherplacelord judg workforcets. Copy safe 2009 by the Society for Case Research and the authors. No part of this put to work may be re make up offd or apply in every form or by every means with step up the written permission ofthe Society for Case ResearchOn June 1, 2006, the brain sign lights dimmed at the W either route Journals every(prenominal) Things digital conference. On the everyplacesize screens fianking the stage, a fritter c all t emeritused the Winds of Change started. In the withdraw, a dignified white- sensory haired spokesman stand up in front of sen clockntal range of mountainss of puppies, babies, balloons a nd natal daytime parties began talking nearly the golden ample time at Kodak the days of the Kodak moment in picture taking. Signaling a shift in the tone of the involve, the spokesman confronted straight into the tv tv camera and ex librate, Gets ya misty, doesnt it?Yep, they shoveled on the schmaltz pretty thick tho that kinda crap doesnt work anyto a greater extent. straight plurality wishinged e genuinely write outg to be digital, the vocalizer stressed, be hike to a greater extent frenzied as he spoke roughly digital depictiongraphy and Kodaks role in it. The c all all everyplace audience chortled when the s poller intoned. You thought they (Kodak) were salutary hiding out waiting for this digital thing to blow over didnt you? Oh, sure. For a duration they were deal, Ohhh, theres no route digitals issue to go on.. . hardly now Kodaks backWith s salutary uping enthusiasm, the spokesman extolled Kodaks look into and education in digital scenegra phy, closure by pulling at his hair and exclaiming, You were a Kodak moment once and by God, youll be one again nevertheless this time its digital. Whooo-yeah The spokesman appe bed aboutwhat startled by his own outburst and sheepishly walked bump off stage as the choose finish and the lights came up. Wall Street Journal columnist, Kara Swisher hence wel compress downd Kodak CEO, Antonio Perez to the stage to the audiences vigorous appla wont and cheers. capital of Minnesota Simons song, Kodachrome played as Perez to a faultk the stage.Swisher began her interview axiom, That was a really funny movie. I want that fill Her frontmost question, however, was not so approving. What surpassed, she asked as Perez settled into his chair, What from your perspective happened at Kodakbecause it was one ofthe greatest stigmatises in story? SCR calling character daybook Perez responded without hesitation, saying First of all there was this legal opinion that came out of i ncredible success. The notion was that maybe if Kodak doesnt move into digitalthe imagination macrocosm pass on never move into digital. .. They (Kodak) were political campaign a air with gross margins amid 60-70% and those things argon hard to let go, oddly when you are confronting a lineage mannequin that is going to give you, if you are lucky, whateverthing rough 30%. So that means that you con imbed to deepen the whole troupe. From the look you design, to the style you manufacture, to the way you distri merelye, you know.. .the whole thing. It is very tough-minded. So Kodak is very late to the digital space. exclusively Kodak was not late in spend in digital. Kodak was very rich.Kodak hired very good population and those people were very doing the right things. In the last cardinal historic period, Kodak developed one ofthe most fulgurous IP (intellectual property) portfblios-in digital scram, image military operationing, pel engineering science and all sorts of things affectation management, you signalize itin truth a draw in all of those spaces. Now, why didnt they commercialize that? I dont know. 22 Referencing Kodaks passage from tralatitious characterizationgraphy to digital, S wisher asked, So, how did you get the take aim people outbecause its a movie theater connection? Perez described his app roofy saying.Basically, the model that I used when I visited the factories was looking at the audience and say, How some of you wee-wee a digital camera? At that time it was about 60%, and I would say, well, you are the problem we have. We either move to digitalwe either do this displacement in effector this company basically will cease to exist. thither is nothing else. in that location is no time to argue about it. This is over. We are already very late but we do have the tools that we motivation to make this happen. * Eight months after the All Things digital Conference, Kodak held its annual scheme coming upon in newborn York City.Antonio Perez announce that Kodak had successfully sinless a four-year, $3. 4 trillion transformation and was poised for adjoin over the next four eld (20082011). Investors, however, did not theatrical role Perezs view ofthe firm. Kodaks plough get by set unload to a 30-year low prospective(a) the schema meeting amid skepticism about Kodaks future strategy. Pointing out that economy had surpassed Kodak in gross r as yetue agreements of digital cameras and that Kodaks Easyfortune Gallery set about tough competition from operate like Shutterfiy and Snapfish, analysts wondered whether Kodak had off the corner. an reinvigorated(prenominal)(prenominal) investors argued that the Kodak brand however had appeal for consumers and that the companys transformation would behave time. venture about a possible disengagement of the company or optical fusions with other(a)(a) technology companies appeared in the financial press. Had Kodak succe ssfully sufficient to the challenges ofthe digital space? Were there other strategies that Kodak should pursue? SCR line of credit fibre diary 23 Kodaks Digital Strategy in 2003 Any evaluation of Kodaks transformation require to begin with a review of Kodaks record in digital word picturegraphy. disdain employing the engineer who invented the prototypical digital camera (patented in 1978) and retentivity more than than 1,000 digital-imaging patents, Kodak did not interpose a digital camera to consumers until 2001. Kodaks moves paralleled those at legion(predicate) companies whose comfortable ancestry models were threatened by rapid changes in information technology. When asked whether Kodak had go into digital picture taking soon enough, consequently Kodak CEO Daniel shaft replied, I axiom my start digital camera wrong Kodak in 1982. Today, were arguably one ofthe elucidate terzetto providers of digital cameras in the U. S.So, we did the right thing. At the co mparable time, we shouldnt have walked extraneous from the historical film stage businesses before they turned down, because it would have destroyed apprize. Under slumping economic and competitive securities perseverance conditions, Kodak faced tough pressure from its existing competitors as well as from newly rivals in the battlefield of digital picture takinga $385 zillion industry composed of devices (digital cameras and personal entropy assistants PDAs), infrastructure (online ne tworks and delivery systems for images), services and media (software, film and root word) enabling people to access, analyze and marking images.Even though Kodak had invested $4 zillion into digital query and related technologies since the early 1990s and spent more age perfecting its digital cameras, Kodaks status as an iconic brand was threatened by the technological shift away from its cash-cow business of tralatitiousisticistic film and film processing. In July 2003, Kodak rep orted fiat sales and a 60 percent drop in second- fanny profits. Since January 1, 2000, when Carp took over as drumhead executive of Kodak, the companys tax incomes and net income had declined, its treats had dropped by 66%, and Standard & Poors (S&P) had cut Kodaks credit judge by five-spot grades. Kodak had reduced its workforce by 49% since 1989, cutting 7,ccc employees in 2002 alone. Plans were denote to eliminate up to 6,000 jobs in 2003 to stem future losses, cutting Kodaks tralatitious delineationgraphy stratums in Rochester, New York to fewer workers than the firm had employed during the Great Depression. Kodaks eternal sleep sheets for 2000 to 2007 are presented in put over 1. Income statements for the same period are presented in display panel 2.When announcing the latest rounds of workforce reductions in July 2003, Carp expressed his perspective on Kodaks challenges saying, I think were at the point where we have to get on with reality. The consumer traditi onal business is going to begin a diminish decline, though its not going to illuminate off a cliff. Kodak found itself attach with assets and employees that were no longer relevant in the world of digital picture taking. Traditional photographgraphy convoluted factories where film, paper and other silver-halide chemical-based emersions were make by thousands of chemical technicians, film process technicians and color printer operators.In digital photography, images captured by electronic sensors could be displayed, printed, stored, manipulated, transmitted, and archived using digital and computer techniques, without chemical processing. Kodak recognized that digital photography would require contrary types of employees and began hiring occur executives away from computer printer companies, overmuch(prenominal) as Lexmark and Hewlett-Packard. These employees brou? it needed expertise in consvuner electronics and software development. * Kodak besides began closing trad itional fihn processing facilities and laying off workers. SCR pipeline flake diary 24Table 1 Kodaks one-year Balance Sheet 2000-2006 (In Millions 2006 ASSETS Cash & Equivalents enlighten Receivables Inventories Other true Assets list Current Assets vulgar Plant, Property & Equipment Accumulated depreciation terminate Plant, Property & Equipment investments at fairness Other enthronizations Intangibles Deferred Charges Other Assets thorough ASSETS LIABILITIES yearn Term Debt Due In whiz Year Notes collectable Accounts Payable Taxes Payable Accrued Expenses Other Current Liabilities Total Current Liabilities Long Term Debt Deferred Taxes nonage Interest Other Liabilities TOTAL LIABELmES blondness favorite(a) note Common Stock Capital Surplus Retained gain Less Treasury Stock TOTAL EQUITY TOTAL LIABILTTIES & EQUITY 1,487 2,669 1,202 199 5,557 10,372 7,530 2,842 36 420 2,869 1,599 997 14,320 17 47 1,003 764 1,735 1,405 4,971 2,714 1 21 5,225 2005 1,680 2,760 1,140 2 01 5,781 11,379 7,601 3,778 40 363 2,941 1,144 874 14,921 706 113 996 467 1,958 1,249 5,489 2,764 33 20 4,648 2004 1,258 2,544 1,158 688 5,648 12,694 8,182 4,512 532 188 1,924 1,203 730 14,737 cd 69 868 2003 1,261 2,389 1,075 730 5,455 13,277 8,183 5,094 426 310 1,678 1,147 708 14,818 457 489 834 654 1,696 1,177 5,307 2,302 81 45 3,819 2002 578 2,234 1,062 660 4,534 13,288 7,868 5,420 382 53 981 972 1,027 13,369 387 1,055 720 584 1,739 892 5,377 1,164 52 70 3,929 2001 451 2,337 1,137 758 4,683 12,982 7,323 5,659 360 85 948 482 1,145 13,362 156 1,378 674 544 1,635 967 5,354 1,666 81 84 3,283 2000 51 2,653 1,718 869 5,491 12,963 7,044 5,919 0 0 947 0 1,855 14,212 150 2,056 817 572 1,358 1,262 6,215 1,166 61 93 3,249 581 1,989 1,083 4,990 1,852 67 25 3,992 12,932 12,954 10,926 11,554 10,592 10,468 10,784 0 978 881 5,332 5,803 1,388 14,320 0 978 867 5,935 5,813 1,967 14,921 0 978 845 7,832 5,844 3,811 14,737 0 978 842 5,852 3,264 14,818 0 978 849 6,840 5,890 1,111 13,369 0 978 849 6,83 4 5,161 2,894 13,362 0 978 871 7,387 5,808 3,428 14,212 SCR origin CASE JOURNAL Table 2 Kodaks Annual Income line of reasoning 2000-2006 (In Millions 2006 2005 14,268 8,783 2004 13,517 8,311 2003 13,317 8,102 2002 12,835 7,391 2001 13,234 7,749 25 2000 13,994 7,105 sales Cost of Goods Sold Gross good SeUing, General, & Administrative Expense run Income forwards Deprec. Depreciation, Depletion, & Amortization Ope rate Profit Interest Expense Non-Operating Income/Expense peculiar(prenominal) Items Pretax Income Total Income Taxes Minority Interest Income Before uncanny Items & Dis go along Operations Preferred Dividends Adjusted Available for Common Extraordinary Items Discontinued Operations Adjusted solve Income 13,274 8,278 4,996 3,101 1,895 1,331 564 262 86 -727 -339 254 7 5,485 3,485 2,000 1,406 594 211 49 -1,194 -762 689 4 5,206 3,340 5,215 3,339 5,444 3,260 2,184 818 1,366 173 -66 -164 963 153 17 5,485 3,333 2,152 919 1,233 219 -26 -891 97 32 -11 6,889 3,747 3,142 889 2,253 178 96 -39 2,132 725 0 ,866 1,031 835 168 62 -821 -92 -175 2 1,876 858 1,018 148 -23 -651 196 -66 24 -600 0 -600 0 1 -601 -1,455 0 -1,455 -57 150 -1,362 81 0 81 0 475 556 238 0 238 0 27 265 793 0 793 0 -23 770 76 0 76 0 0 76 1,407 0 1,407 0 0 1,407 SCR business CASE JOURNAL 26 The electric switch by consumers to digital photography was coming much faster than pass judgment and Kodaks traditional film, papers and photofinishing businesses were declining. By the end of 2003, analysts evaluate that digital cameras would begin to outsell film cameras for the first time in the joined States. The digital photography industry was fast and more crowded, declareing razor thin profit margins.In September 2003, Kodak aimounced an aggressive four-year platform to transform the company into a digital photography firm, replacing decliniag revenues and profits in the traditional fihn member with growing digital revenues and profits. Job cuts and imbed closures were prominent aspects of the firms restructuring plans. Kodak armounced digital and film imaging strategy rivet on four servings (1) Manage the traditional film business for cash and manufacturing donation drawing cardship (2) Lead in distributed end output (3) Grow the digital capture business, and (4) round digital imaging services. The traditional film business would be managed through organizational consolidation, address reduction and reductions in both advertising using up and the number of unique(p) products.Kodak hoped to expand its leadership in appear marts, such(prenominal) as chinaware and Russia, anticipating untouchable growth in these two markets for traditional fihn products. Distributed output referred to the market for printed photos. Kodak plarmed to dominate all channels for printed photos sell (minilabs and kiosks), folk (printer docks and photo papers) and online printing of photos (Kodaks Ofoto site). The digital capture component of the plan addressed digital came ras and Kodaks plans to scram the industry standard for ease of use and to achieve vizor third world(a) market share by 2006. Last, Kodak think to expand services both online (photo album sharing) and in rambling markets (sharing and printing of photos captured with supple speech sounds).By the end of trading on the day ofthe digital strategy announcement, Kodaks depot fell to an 18-year low. Institutional investors criticized Kodaks announce strategy, expressing annoyance at the companys intention to invest in inkjet printing, a business dominated by Hewlett Packard. Investment analyst. Shannon Cross, expressed the concerns of some(prenominal) investors saying, There are so many questions with regard to Kodaks future strategy the track record weve seen out of management in terms of universe able to hit targets and implement a strategy has been pretty spotty. The Years 2003-2007 Although shareholders and legion(predicate) investment analysts openly criticized the str ategy, Kodak began implementing the new digital vision for the company.Since 2003, Kodak had pared be through layoffs and institute closings in the traditional film division, interchange off underperforming business units and change magnitude its look and development investment in ink-jet printers. More than one hundred buildings in Kodak Park in Rochester, New York that had in one case housed thousands of employees had been razed, imploded, or sell by 2007. From the companys peak in 1988, Kodak had cut 115,000 employees through divestitures, plant closings, and layoffs. Kodak evaluate to end 2007 with solitary(prenominal) 30,000 employees. Although job cuts would eventually represent cost reductions and improvements to the firms goat line, restructuring cost since 2003 were estimated to total $3. 8 billion. Investment analysts believed that the high costs of Kodaks shift to a digital strategy would be charge the price if the company was successful at growing profits fr om its digital products. Other analysts were unconvinced, saying We are increasingly skeptical that EK (Kodak) can efficiently generate SCR origin CASE JOURNAL 27 digital revenue growth and we think surplus plant closings, job cuts and development costs will continue depressing results. * any(prenominal) analysts worried that the continual charges against earnings and climbing debt might leave Kodak strapped for significant bills for enquiry and development. Competitive pressures in digital photography made innovation important but raised concems for some analysts. Kodak wooly their magic touch.There are way too many people producing similar technology better, one analyst said. The important events in Kodaks history since 2003 are shown as Table 3. Leadership of Kodak to a fault was in transition during this period. In may 2005, Antonio M. Perez replaced Daniel Carp as fountainhead Executive Officer of Kodak. Perez had come to Kodak in 2003 after working 25 years for Ko daks competitor, Hewlett-Packard. Perez brought his extensive expertise in digital imaging technologies to Kodak and quickly became the leader of Kodaks digital transformation. Perez had been instrumental in formulating Kodaks restructuring strategy as he was Kodaks President and Chief Operating Officer in 2003. Despite the ongoing criticism of investment analysts, Perez remained affirmatory about Kodaks prospects saying. We said in 2003 that it would expect us four years to transform this company. The first two years were make full with restructuring costs, and the analysts are reacting to that. My response is Well, hello, we are pursual our plan. We said wed grow digital revenue and profits, and generate a healthy sum total of cash, and we are doing all SCR BUSINESS CASE JOURNAL Table 3 get wind Events for Kodak 2003-2007 28 Date January 26, 2005 February 2,2005 March 2005 may 11,2005 January 5,2006* January 12, 2006 January 30,2006 March 2006 August 1,2006* January 10,2 007 February 1,2007 April 26,2007 May 2007* May 14, 2007Event Kodaks digital revenue rose 40% in the fourth quarter of 2004, more than offsetting a 16% decline in revenue for traditional film products. Kodak denote that for the first time, Kodak held the leading market share for digital cameras in the United States with 21. 9% share. Kodak changed the name of Ofoto, the online photo-sharing and printing site they had acquired, to Kodak EasyShare Gallery. Antonio M. Perez was announced as the next CEO of Kodak. Perez took over on June 1, 2005. Former Kodak CEO, Daniel Carp retired at age 57. Kodak announced a 10-year confederacy with Motorola to develop officious camera phones with Kodak sensors. Nikon stop reservation most of its traditional film cameras.Kodaks digital revenues for 2005 exceeded revenues from traditional film for the first time. Digital revenues were 54% of total sales. Konica Minolta announced that it was exiting the photography industry. Some ofthe firms photo graphy assets were sold to Sony. Kodak announced that it would outsource the production of all digital cameras to Flextronics, a leading electronics manufacturing services provider headquartered in Singapore. Kodak announced the sale of the health care imaging division to ONEX for $2. 35 billion. Half of the proceeds were to be used for debt reduction. The sale of the division resulted in a change magnitude of 8,100 employees for Kodak.Kodak announced the first quarterly profit in eighter quarters. Revenues for digital photography products had declined by 13%. Kodak announced a alliance with scoop outBuy to defecate the BestBuy Photo Center. The center provided Kodaks EasyShare Gallery to BestBuy online consumers. The partnership would also provide for display of Kodak Gallerys photo gifts (mugs, purses, etc. ) in BestBuy stores. BestBuy would also offer pre-paid cards for prints and gifts. Kodaks digital consumer group sales (cameras, printers and retail printing) fell 14% del inquent to Kodaks decision to stop offering low-end digital cameras and an industry-wide decline in printing snapshots.Kodak announced a partnership with print to produce a co-branded site that permitted consumers to stray photo prints online and pick them up in Target stores. The partnership also provided for display of Kodak Gallerys photo gifts in Target stores and for pre-paid photo cards. SCR BUSINESS CASE JOURNAL 29 unrivalled ofthe important changes championed by Perez was Kodaks new business model in inkjet printers. Kodak was upending the traditional business model in inkjet printers. kinda of determine the printer devices low and reservation profits on high-priced ink cartridges, Kodak planned to sell higher-priced printers that used importantly less high-ticket(prenominal) printer cartridges. For display case, Kodaks new line of all-in-one printers was priced at $149-$299, at to the lowest degree $50 more than comparable models. * The cost ofthe Kodak printer car tridges was importantly less, however, running $10 for black ink and $15 for the color cartridge. * The Kodak printers were expected to save consumers 50% over the demeanortime ofthe printer collectable to the cheaper printer cartridges. * Although some analysts reacted positively to the new pricing model, others were doubtfiil saying. They (Kodak) are not fools, they are going after the sweet spot ofthe market, the people who print a huge number of photos at home, but they are up against big companies that can give a haircut to their own prices if they * There was also some skepticism that consumers would pay more ab initio in order to save money over the lifetime of the product.A market research analyst described the consumers perspective saying, When it comes to printers, consumers look for the feature films they want, and then find the least expensive device that offers them. It is only later that they get sticker shock, when theyre spending $50 for ink. For its part, HP h ad adopted a wait-and-see gravel regarding Kodaks new printer pricing model. If Kodaks printers gained share, HP was on the shape to respond. Kodak is going into a gunfight with a knife, responded Nils Madsen, marketing director for HP inkjets. * Kodak predicted that it would take at least three years for the new printers to be profitable. * Despite reporting a narrower first-quarter net loss in 2007, Kodaks financial results were continuing to show signs of stress.Sales of Kodaks digital camera group (including digital cameras, printers and retail printing) fell 14% during the first quarter of 2007. Traditional film revenues declined 13% over the previous year. Kodak was losing less money, however, investors were expecting more. Kodak needs not only to restructure, but to change its business. Thats a bigger project. They dont have an overnight fix, said one investment fund manager. Sacrificing authoritative earnings to focus on long term success was a feisty decision and me mbers of the investment community wondered whether Kodaks executives had the heroism to continue to pursue it and whether tiie path Perez had adumbrate for the company was indeed the right path. unrivalled investment manager siunmarized his perspective saying.That company (Kodak) used to be my favorite example of an old-tech company behind the eight ball. Kodak has pass over the Rubicon and gotten past denial. It may be struggling to figure out which thoroughfare to take, but finally the company understands that the one it was on was getting it nowhere. You know what happens if you sit back and let history happen to you, so youve got to take a shot, and thats what theyre Kodak also had to consider its strategies in light of changes within the digital photography industry. Much had happened since the base of Kodaks digital strategy in 2003. crucial trends included rapidly alter technologies, profits in the quality and use of SCR BUSINESS CASE JOURNAL 30 amera-enabled supp le phones, maturing demand in the United States, rapid credence of digital photography in unlike markets, and increasing competitive challenges. Im be Technologies and a Shorter Product Life Cycle uniform most technologies, the market for digital photography continued to rapidly change. expert innovations improve the resolution of digital cameras (increased the mega pixels captured and thus change the quality ofthe photos when enlarged). Improvements in optical and electronic technologies and subsequent reductions in production costs resulted in the introduction of higher margin, digital single-lens reflex (SLR) cameras into the market.These cameras featured interchangeable lenses and appealed to consumers acquire their second digital camera and to photography enthusiasts who could utilize the traditional camera lenses they already have on the new SLR digital camera bodies. Many digital SLR models offered significantly better image quality than point-and-shoot digital camer as collect to their use of larger imaging chips. Industry insiders expected unassailable growth in the digital SLR segment of the market as consumers looked for more capabilities and flexibility in their digital cameras. ordinance, Nikon, Sony and Panasonic dominated the market for inexpensive digital SLRs in 2007. Camera makers found the product life cycle of the digital era to be markedly different than the rather stable product life cycle of traditional photography.For example, the Nikon topof-the-line F-series of fllm cameras had been redesigned only sixsome times over ahnost 50 years of production. By 2006, new features-laden digital camera models were introduced every few months rather than years apart. Makoto Kimura, president of Nikon Imaging summed up the change saying, In the past, as a camera maker we were able to take it at large(p), watch what was happening. Now, weve had to revitalize ourself Industry analysts believed that the faster product life cycle and the demands for technological innovations kick upstairs consumer electronics companies rather than traditional camera makersin manufacturing and in dissemination.Electronics companies such as Sony have the ability to design and manufacture many of the components integral to digital cameras whereas traditional photography companies such as Kodak lacked these capabilities and had to corrupt components ftom other electronic companies. Distribution of cameras also shifted with the digital age in a way that favored consumer electronics companies. Consumers were increasingly purchasing even relatively expensive digital cameras at electronics chain of mountainss such as Best Buy, Staples, and Circuit City rather than at smaller specialty photography shops. Consumer electronics companies already understood the inventory and logistics demands of the national chains, enchantment traditional photography companies struggled to gain worthy shelf space. As one detective put it, A new brandi sh of technology has given the newcomers the upper hand.For the consumer electronics companies, digital photography has been all upside, musical composition the photo industry was stuck in a unbend evolution stage. Gains in Mobile skirt Camera Quality and Usage Technological improvements in the resolution of photos captured on wide awake phones had increased significantly. In 2006, Nokia offered a winding phone model with Wi-Fi capabilities and an coordinated three-mega pixel camera. Other mobile phone manufacturers offered phones with an integrated two-mega pixel camera. Consumers increasingly expected that their mobile SCR BUSINESS CASE JOURNAL 31 phones would contain an integrated camera. Approximately 30 meg U. S. obile phone owners used their phones to capture images in 2005, an increase of 180% over the previous year. By 2009, nearlv 70% of mobile phones were expected to contain cameras with multimega pixel resolutions. Analysts encourage expected that the improved resolution ofthe integrated cameras in most mobile phones would decrease the demand for usable traditional film cameras and could have a negative impact on low-end stand-alone digital cameras. Because consumers carried their mobile phones with them constantly, the integrated cameras provided a convenient way to capture images during their daily activities as well as at special events, such as concerts and parties.Improvements in mobile phone cormections to wireless networks also made it easy for users to upload and share images with friends and family. account 1 depicts the increase in digital image captured using mobile phones. 62 elaborate Digital Images Captured Worldwide, 2002-2009 50OT c four hundred D Camera phone images captured 9 Digital camera images captured 2002 2003 2004 2005 2K6 2007 2008 2009 Source Lyra Researcti, lrc. , Consumer Imaging Intelligence, Second-Half 2005 Forecast Maturing U. S. implore In 2006, signs indicated that the digital camera market was m aturing. After growing by well-nigh 670% from 2000-2005, unit sales of digital cameras were retardation with an increase of only 26% forecasted for 2009. Prices of digital cameras were also declining, making lucrativeness more difficult for makers of low-end cameras.For example, digital cameras with less than 4 mega pixels of resolution dropped in price by 40% in 2006. In contrast, higher-end digital SLRs tended to maintain the same price points, adding value for consumers by packing each accompanying model with even more features. There was a glimmer of hope for some growth in the digital photography industry as some analysts believed that U. S. consumers were upgrading their digital cameras more frequently than had been previously expected. The relief rate was estimated at every two SCR BUSINESS CASE JOURNAL 32 to three years rather than every four years as initially predicted. However, demand was expected to decline in 2007 and beyond as many consumers had completed their u pgrade cycle and fewer new consumers were entering the market. An expected retardent in the U. S. economy only contributed to a softeneddown in demand for digital cameras.Higher cheer rates were beginning to depress consumer spending in 2005 as the percentage of disposable income that U. S. households paid for their mortgages and consumer debt was increasing. Growth Possibilities Abroad Digital camera sales were expected to slow down in North the States in 2007, but remained bullocky in Europe and Japan. Emerging markets were also expected to provide growing demand as camera prices fell. In 2007, digital cameras were in strong demand in telephone exchange and Eastem Europe. Unit sales of digital cameras showed red-blooded increases in Russia (up 30%), Ukraine (up 70%), Poland (up 15%), Hungary (up 18%), and the Czech Republic (up 7. 7%) over 2005 sales. Although more cameras were purchased, sales revenues actually declined as a result of declining prices due to technology advances and competitive pressures.The top three vendors in the region in 2006 were principle, Sony and Olympus (in order of share). Analysts expected continued sales growth in the region but note that demand for digital cameras had matured in the Czech Republic. China was seen as a market with enormous potential for digital camera sales due to improving economic conditions and Chinas more open posture to the rest ofthe world as the 2008 exceeding Games in Beijing approached. Sales were expected to grow from nearly 3 meg units in 2004 to between 6. 5 and 10 million units in 2008. Growth in Chinese disposable income in the major industrialized cities such as Beijing, abduct and Guangzhou had created a market of 400 million potential customers for products such as digital cameras. Interest in photography was dainty among Chinese consumers as more Chinese began trip uping abroad and wished to bring home photos from their trips. The World Tourism Organization predicted tha t approximately 100 million Chinese would travel abroad in the year 2020 (an increase of 500% over 2003 figures). Digital camera sales to consumers outside urban areas in China were expected to be slower. debase disposable income and need for higher precedence items like household appliances caused rural Chinese consumers to delay their purchase of digital cameras. * Furthermore, statistical distribution channels in rural areas were not well developed. No major electronics chain equivalent to Best Buy or Circuit City existed outside the major Contrary to earlier industry predictions, Chinese consumers did not grease ones palms traditional film cameras as their purchasing power increased, but preferred to leapfrog the older technologies to buy the latest digital camera models. Sales of traditional film cameras and film canisters declined much more rapidly in China than had been anticipated loss companies that had depended on selling these products at risk of being jumped over by the newer technologies such as digital cameras and camera-phones. By 2006, more Chinese consumers owned cameraphones than digital cameras. *SCR Battling for Market Share BUSINESS CASE JOURNAL 33 The degenerate technology of digital photography had proved challenging for many traditional camera makers. In 2006, Konica Minolta announced that it would withdraw in all from the photography industrydespite being the third-largest producer of traditional photo film. Nikon announced plans to gradually halt production of five models of traditional film cameras, leaving only two film cameras in its product portfolio. * Other traditional camera companies, such as formula, thrived in the new digital world. law had become the world leader in digital cameras with an ahnost 19% share in Consumers were offered more choices in the digital camera marketplace as companies in the consumer electronics industry began offering digital cameras. famous examples included Samsung, a consumer electr onics company with a strong role in the camera-phones segment and Hewlett Packard with strongholds in printers and personal computers.Consumer electronics companies were formidable entrants into the digital photography industry due to their strong brand awareness with consumers, established distribution channels and experience with many of the technologies involved in creating digital cameras. The competitive position of the companies in the digital camera industry rose and fell as consumers demanded more features, improved technologies and lower prices. The U. S. market shares of the top ten digital camera makers are shown as Table 4. Analysts believed that the strong gains shown by Canon and Nikon from 2005-2006 were due to their introduction of lowcost digital single lens reflex cameras (SLRs). Worldwide, Canon led in digital camera sales with a 18. % share in 2006. * Sony followed with a 15. 8 percent share man Kodak was third at 10%. ** Both Canon and Sony benefitted from co nsumer wager in single-lens reflex models as well as growing demand in emergent markets. Sonys share ofthe global market increased as a result of its purchase ofthe digital single-lens reflex division of Konica Minolta in 2006. In the digital SLR segment ofthe industry. Canon held 46. 7% share in 2006, followed by Nikon in second with 33% share and Sony at third with 6. 2% o H a m en Olympus Samsung Fujifilm Panasonic Casio (N 068, 500 940, 800 867, 000 045, 700 185, 856, 500 496, 400 444, 700 046, 300 955,000 inChange Change From Shipments Market From precedent Previous Share Year Year 21% 000 000 18% 39% 780 000 17% 10% -31% 050 000 25% 44% 31% 326 400 68% 130. 600 18% -5% 964, 800 -15% 120% 680,500 N/A -19% 1,780,600 199% 350,000 N/A 136% 405,000 N/A Shipments m 587 600 330 000 880 000 381 600 804 900 317 400 N/A 1,782,600 N/A N/A V/N es H a 2 Ho 2006 2005 2004 Shipments Market Share Market Share cn 00 Canon Sony Kodak Nikon 00 20% 17% 16% 10% cn o o cn ( N g E g o 19. 4% 21. 9% 6. 2% 8. 1% 10. 4% N/A 8. 0% N/A SCR BUSINESS CASE JOURNAL 35 In segmented market share, signincant contrarietys were evident in the purchasing preferences of male versus female consumers. hands seemed to prefer Canon while women preferred Kodak. * Analysts attributed the gender difference to womens preference for simplicity and desire for high-quality prints that could be shared with family and friends. Kodak met these needs for women with their point-and-shoot camera models and the EasyShare dock station. Men preferred the SLR models offered by Canon while Kodak was their fourth most democratic choice behind Sony and Olympus. Gender differences were also observed in what users did with their digital photos. Women believed digital prints were more important than men (63% versus 53%). Women printed approximately 35% ofthe digital photos they took while men printed only 25%. Men took the picture and put it in the computer. But then it was like a roach motel for pictur es. They never got out, one industry insider reported. Although digital camera makers recognized gender differences in purchasing and usage behaviors, care was interpreted to address the needs and preferences of both men and women when designing and marketing photography products. For example. Canon utilized Russian tennis star Maria Sharapova in television advertising because she appealed to both men and women. by good example data on the number of camera models and suggested retail prices offered the top five digital camera companies is provided as Table 5. jaPM a a O -t P GO O PH o O O I U U O m 00 3 O) - II II 1 O uj N 0gt (Zl H et S a PH 11 I C S a ON n Os O ON 5 . -i g A a (-. S o 6 6O . agi 00 0U-3 le a y ob e C3 .a o CM s a Pi O 6 II O O Os 2 O S o u 1 o 00 00 o si 5bp -2 SS fe PL, ao o O g a es .5 a -3S a o U SCR BUSINESS CASE JOURNAL A New Kodak Emerges 37 In January 2008, Kodak announced that its turnaround was officially over. In advance of the companys annu al strategy meeting in New York City on February 7, 2008, Perez announced It is with great pride that I introduce the new Kodak, a company with a new spirit and winning attitude.While finish a difficult and unprecedented business transformation, we also created breakthrough products and services that feature Kodaks hallmark innovation, winning customer word sense and critical praise for a brand renowned for its smart use of technology. In 2008 and beyond, we will leverage the innovative idea of Kodak people to deliver on our commitments to shareholders and increase the value of this great company. Kodak executives pointed to multiple poetic rhythm to demonstrate the extent of the firms transformation. Kodaks industrial greens in Rochester, New York had been reduced from 1,600 earth to 700 acres since 1998. Eleven film plants had been shuttered, leaving the company with only three film plants worldwide. As shown in Figure 2, the number of Kodak workers had been reduced from 145,300 in 1988 to around 30,000 at the end of 2007. More than half ofthe stay employees were considered new, joining Kodak since the launch ofthe firms digital strategy in 2003. Revenues from the Consumer Digital Imaging base (CDIG) had increased substantially since 2003. CDIG included digital cameras, inkjet printers, camera sensors, digital picture frames, online photo finishing, and digital photo kiosks. As shown in Table 6, CDIG revenues had almost doubled, growing from $2. 37 billion in 2004 to $4. 63 billion in 2007. Kodak did not report profitability data by product segment. SCR BUSINESS CASE JOURNAL 38 Figure 2 Kodak Sales, Gross Profit take in Income Per Employee*** 2002-2006 350,000 300,000 250,000 200,000 150,000 = o Q 100,000 50,000 0 50,000 2002 H Employees D Sales/Employee Gross Profit/Employee Net Income/Employee 70,000 $183,357 $77,771 $11,000 2003 63,900 $208,404 $81,612 $4,147 2004 54,800 $246,661 $95,000 $10,146 2005 51,100 $279,217 $107,339 $(26,654) 2006 40,900 $324,548 $122,152 $(14,694) o o o o m ( . -H ON o 1-H s? ON ON rj 004 Perc ri n 00 Tl Tl Tl 00 H m ON o ON VO O .-H NO ON Tl .-H in n VO o t a O n rj VO O 00 O 1-H 00 CN T-H o o TH ri VO ri m O a Gro o tems ai a s a O a o (3 S U g u a S onsnmer Digi CJ r 1 immaterial the U. inner(a) the U. S raphic Comm ilm Photofi Outside the U. Inside the U. S U U 11 other ealth Gronp . 5 5 s S e t (3 / anna n u SCR BUSINESS CASE JOURNAL 40 Building implosions were another symbolic representation ofthe firms makeover.Kodak had shed more than 100 buildings since the 199Os, imploding three massive buildings during the summer of 2007 that had formerly housed manufacturing processes for the firms film, paper and other chemical-based products. As the rubble of the old chemical plants was cleared, Kodak executives gave presentations for technology stock analysts evaluate Kodaks successful turnaround. The presentations were entitled A New Kodak Emerges and emphasized the end of Kodaks re structuring program the existence of high margin businesses, such as consumer inkjet printers and camera sensors and Kodaks expected return to sustainable profitability.According to company executives, Kodak had a clear service in the digital space due to its specialized knowledge of materials science (the result ofthe firms 100-plus years of experience in traditional photography) and digital image science (through the firms strong intellectual property in digital technologies). However, stock analysts remained skeptical of the success of Kodaks transformation, continuing to question the competitive success ofthe inkjet strategy and Kodaks value proposition for camera sensors. Analysts further questioned the adequacy of Kodaks spending for research and development given the number of major initiatives it was pursuing. In 2007, Kodak spent 5. 19% of sales or $536 million on research and development, while Canon spent $3,351 billion or 8. 22% of sales on a more singular research age nda. Others continued to express concern about the commoditization of many of the business segments in which Kodak operated, persistently enquire Frank Sklarsky, Kodaks chief fmancial officer, So, where are you making your money? I just want to know. It isnt clear The stock analysts continued disquiet over Kodaks fixture was refiected in their stock recommendations with ten of eleven key analysts rating the shares as either neutral or as Despite the Kodak officers assertion of successfiil transformation, there was open speculation in the press about the hazard of a dissolving of Kodak or mergers with either Xerox or Hewlett Packard.Perez dismissed the notion of a merger with HP saying, I dont have any comments about that. All those rumorsthere are many other rumors too. I wouldnt pay much attention. Other rumors included mergers with Dell, a leveraged buyout by a private legality firm or billionaire investor. Warren Buffets interest in Kodak as an investment. When questioned about the possibility of a breakup, Perez retorted, They dont know anything about the company. wherefore would you do that? I dont see any good financial reason to do that. Were the winds of change continuing to blow for Kodak? Was Kodaks transformation successful or were there other changes needed?Was it time for Kodak to merge or pursue a breakup? Or was a leveraged buyout Kodaks best option for be independent?EndnotesDigital Camera Turns 30-Sort Of. The Associated Press, http//www. msnbc. msn. com/id/9261340/. Online Extra What it Boils crop up To for Kodak. (November 23, 2003).