Information Technology Security and Training Matrix

Project (Plan) Organization - Toubleshooting Structure System Requirement on a Global Scale Recognized Feasibility Analysis Step 2 - System Analysis (RD Team of Experts, Developemnt Teams) Logical Design Step 3 - Development (Newly trained employees, Programmers, Network Engineers, Innovators and Database Developers) Implemenation Step 1 - Planning (CEO, Head Planner, Suppliers of videos) Physical Design Testing Maintenance Marketing Head Gain an understanding of the marketplace Risk Analysts Analyze business strategies Board of Directors Supply Chain Management RD Experts Analyze existing supplier base Categorize and divide suppliers Analyze consumer trends Implementation strategies and process Stabilization strategies and porcesses Planning supplier strategies and processes Step 1 - Gain an understanding of the marketplace Step 2 - Analyze your business Step 3 - Analyze your existing supplier base Step 4 - Categorize your suppliers with the aim of reducing the overall total Work Breakdown Structure - Supply Chain Management Assess Supply Chain Management Anaylze Consumer trends Analyze employee satisfaction Analyze relevant business risks Analyze Competitor trends Analyze investment timing Analyze current networks Explore opportunity for expansion, local and national Explore unorthodox supplier networks Divide products into categories Assign selective suppliers for each deisgnated category Make a backup database and network ofShow MoreRelatedUnit 6 Assignment : Conduct A Network Traffic Analysis1346 Words   |  6 PagesSeignon ITEC-6620: Information Systems Security Dr. Caroline Howard Sunday, August 6, 2016 Security Awareness Matrix Based on the previous design and development of the security awareness program for Advanced Topologies Inc, ATI it is needful to include in a matrix the security topics with the associated awareness materials by target audience in describing how when and with what frequency it will be delivered. The following matrix displays the above details. Training Area Target AudienceRead MoreHIPAA Compliance Policy654 Words   |  3 PagesHIPAA Compliance Policy Purpose: To understand the responsibilities and define minimum security requirements of XYZ health care organization. All employees under the scope of this policy should abide by this policy. Scope: This policy applies to all the employees of XYZ health care who have remote access to the patient’s medical data. Control Matrix: Table 1 Risk Control Matrix Risk Significance of Risk Likelihood of Risk Control Measures/ Countermeasures 1 Brute Force Password Attack MediumRead MoreCase Analysis : Topaz Information Solutions1184 Words   |  5 PagesINTRODUCTION 1. PURPOSE Topaz Information Solutions, LLC (Topaz) is considered a business associate under the Health Insurance Portability and Accountability Act (HIPAA). A business associate performs certain functions or activities that involve the use or disclosure of protected health information (PHI) on behalf of or for a covered entity. As a business associate (BA), Topaz is required to complete an annual security risk assessment to evaluate the physical, administrative and technical safeguardsRead MoreAccess Control Models1731 Words   |  7 Pagesto others. Access control is at the discretion of the owner. Most common implementation is through access control lists. Discretionary access control is required for the Orange Book â€Å"C† Level. Mandatory (MAC) Much more structured. Is based on security labels and classifications. Access decisions are based on clearance level of the data and clearance level of the user, and, classification of the object. Rules are made by management, configured by the administrators and enforced by the operatingRead MoreThe Danger Of Cyber Attacks On Power Plants1542 Words   |  7 Pagesto cause chaos and even shutdown â€Å"nuclear centrifuges, air defense systems, and electrical grids.† (Hathaway, Crootof, Levitiz, Nix, Nowlan, Perdue Spiegel, 2012) Cyber-attacks are more common today due to the increase capability of technology. Important information along with every aspect of people’s lives are kept on computers or cell phones which are vulnerable at all times. An example of this would be the leaked snapchat photos of celebrities, stolen identities and unauthorized access from anRead MoreThe Competency Of Quantum Technologies Information Security Essay791 Words   |   4 PagesThe purpose of this risk assessment is to assess the competency of Quantum Technologies information security. This risk assessment will present a measurable evaluation of Quantum Technologies operational environment. This risk assessment will address: †¢ Threats †¢ Probabilities †¢ Impacts †¢ Overall Risk Rating †¢ Controls †¢ Residual Risks The scope of this risk assessment is intended to assess information system’s use of resources and controls to eliminate, reduce, and manage all vulnerabilitiesRead MoreWhat Is The Purpose Of Using Biometric Technology In Healthcare?1619 Words   |  7 PagesService Level Agreement As the healthcare industry goes through transformation with the use of new technology to increase safety, quality, and reduce costs, they are faced with additional challenges (IriTech, Inc., March 16, 2015). A critical problem in healthcare is medical identity theft and other types of fraud that leads to wrongful disclosure of patient information (IriTech, Inc., March 16, 2015). As a challenge, today many healthcare organizations are finding better ways to meet the regulatoryRead MoreModern Policing Grew Out Of Private Security Concerns968 Words   |  4 PagesModern policing grew out of private security concerns. Crime prevention is a major issue in our society. A greater burden is being placed on public law enforcement to respond to crisis situations. As a result, the consumer is turning to the private security industry to help protect our communities and businesses. Private security agencies are one of the fastest-growing entities in our country. The demand for security service s is growing at stellar 6% rate a year in our post 9/11 climate. This trendRead MoreWhat Makes A Business?950 Words   |  4 PagesThe three careers I chose were Fashion Writer, Information Security Analyst, and Software developer. A fashion writer is a writer who specializes in the area of fashion. For example, fashion magazines, online magazines, blogs, and advertisements. An Information Security Analyst is a protector of information systems. They focus on shielding company’s computer systems from cyberattacks and things of that nature. A software developer develops applications or develops the underlying systems needed toRead MoreCp Lab Report1016 Words   |  5 PagesINTERNSHIP AND CURRICULAR PRACTICAL TRAINING (CPT) Company information I am working as a Linux/infrastructure engineer at Informatics Prism/Cirrus labs. It provides solutions and services to it’s client. The core concept of this is Agile software delivery, Automation, Cloud services and IoT. It helps client’s businesses transformation by taking the road to agile methodology by fulfilling gaps between business requirement and traditional methodology. As a Linux/Infrastructure Engineer my first

Poverty Why It Continues Grow Essay - 1321 Words

Poverty: Why it continues to grow? So in my previous visual report about poverty I discussed the reasons why Poverty continues to grow and who that affects in our society. To begin off as I had stated in the visual report I live in an area of rural West Virginia where some of our small towns considered at 100% poverty levels. We were once an area thriving with the railroad and coalmines, our town was even once known as â€Å"The Heart of the Million Dollar Coalfields† is now mostly doctor’s offices and closed shops. Our town died with the coal mine closings and it will only continue to decline. Unfortunately poverty is an all too real thing for a lot of people in my area. I wanted to see if poverty is something that is seen in every state now, not just ours and to see as well who poverty really hit the hardest. The results I was able to fine were both surprising and informative. In my first line graph the information shows the number in millions in poverty as well as the poverty rates between 1959 and 2 010. We see a large dip in the 1970’s after the great depression and higher numbers of people in poverty with the recession in 2010. The next question I had was who does poverty effect. This particular chart goes more into who and what ages that poverty hits the hardest. The information states that females head of households with no husbands, people under the age of 18, native born and whites are the hardest hit with poverty for our country. So, to follow up the previousShow MoreRelatedPoverty : Why It Continues Grow?1205 Words   |  5 PagesPoverty: Why it continues to grow? So in my previous visual report about poverty, I discussed the reasons why Poverty continues to grow and who that effects on our society. 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This is because those  who grew up in poverty continue their impulsiveRead MorePoverty Has A Significant Effect On The Brain Essay1457 Words   |  6 Pages Growing up in poverty has a significant effect on the brain. While poverty affects many aspects of the brain processing, spending patterns are impacted which affects quality of life. Occasionally, those in poverty make it out. Despite gaining a higher socioeconomic class, quality of life can still be influenced by the impact of poverty. This is because those who grew up in poverty continue their impulsive spending habits when they move into the middle-class because poverty leaves an enduring impressionRead MoreGlobal Poverty Essay592 Words   |  3 PagesPoverty is defined as the state of being poor; lack of the means of providing material needs or comforts.( More children live in poverty in the United States than in any other developed country (p. 192, Parrillo). Generally, poverty is blamed either on the individual or the system. 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It is clear to many that the policies arising from this ideology have caused the poor to grow poorer and the rich to grow richer. Accordingly, this essay will argue that Neo-Liberalism greatly contributed greatly to today’s global economic problems and will shed light on the overriding reasons why a neo-liberalism is not ideal to foster a sustainable and healthy economic environment for all as the ideology proposes. One of the primary economicRead MorePoverty As A Social Problem1739 Words   |  7 Pages Poverty as a Social Problem Magdalena Brania Mrs. Kropf May 27, 2015 Poverty is inscribed in the history of the world, but it is not inherent fate of every human being. It is also not related to the human nature, which does not mean that it can not be due to its nature. All communities experience it, with a greater or lesser extent way causing psychological and sociological conflicts. Society who have to deal with poverty is not only from undeveloped countries, but also developedRead MoreThe Relationship between Poverty and Crime879 Words   |  3 PagesIntroduction Poverty and the relationship it has to crime is a long standing sociological, humanists and historical phenomenon. From the plight of the third world to the violence soaked inner city streets of the 1980’s, the relationship of crime and poverty has been the source of a great deal of social commentary. In societies throughout the world and throughout history there has always been a traditional measure of deviance through relative income gaps. Both poverty and crime as well as theirRead MoreThe Distribution of Wealth892 Words   |  4 Pagesproperty of others. Others believe that people should not have excess wealth, resulting in non-existent class distinctions. An alternative view is that wealth is not distributed; instead, the wealthy continue to grow wealthier while those in poverty can not escape it and fall further into a life of poverty. The beliefs discussed above come from three different writers. Those writers include Andrew Carnegie, Karl Marx, and Robert B. Reich. T hese writers all have different opinions on how wealth shouldRead MoreThe Problem Of Poverty On A Macro Level1194 Words   |  5 Pagessentences that describe poverty. If we closed our eyes and envisioned poverty, we think of children in the second-largest continent, Africa, standing around with no clothes or shoes on. We think of the kids looking mal-nutritious or with other sicknesses and flies flying around their faces but they are too weak to brush them away. We think of people with no education, no skills, or no ideas. These statements are far from facts. I will take you through the ongoing issue of poverty from a macro-level and

Organizational Change and Its Implications

Question: Discuss about the Organizational Change and Its Implications. Answer: Introduction: The business school is facing the problem of financial deficit and unproductive staff members in few departments which is responsible for the declining of the university reputation and creating a negative impact on the minds of the students(Hayes, 2014). The student enrolling for the courses had also declined in the past few years which resulted in the annual deficit of $750k. The staff members are not upgrading the teaching skills and research activities. Further it is observed that there is lack of coordination among the staff members of different departments. They are involved and show concern towards their individual department and its performance and least bothered for the overall performance of the university. Few unproductive staffs are highly paid as comparable to their contribution in the overall growth of the university. Some highly qualified staffs had retired from the services and some are hired by other universities at upper grade and salary. The economics department is comprised of dominating staff members who are rated unrealistically high and the lack of coordination is worsening the situation(Cummings, 2014). Further the already taught course of master degree in econometrics had distracted the students to enroll for such business schools which are not relevant and helpful for the future up building. The faculties are not well trained and focused enough to bring the change. The administrations work are in place which included admission, timetabling, examining but still there is a lack of motivated and enthusiastic staff members to perform the admin tasks relevantly. Analysis The Australian University system represents an interesting case study in restructuring exercise with the merge of new departments and also about the annual deficit. Three years back the Australian University with the merge of three academic departments created it into business school. The departments introduced were economics, accounting and finance and management studies(Choi, 2010). When the Australian University was established it had a small financial deficit but gradually increased over the past three years. With the merge of three departments it was an effort to improve the overall grading of the business school. The school appointed new dean, to look for ways to eliminate the deficit and to improve the research work of the school. The business school was facing a large number of deficits because of the economic department. The annual deficit of the department is 750$(Anderson, 2010).The department was facing problem with the deficit of the teaching staff, as many of them has retired and many were promoted to senior grades with high salary to other universities. The members did little to prepare for the universitys review of teaching quality and student support. Their failure to manage quality assurance through documented procedures and formal structures contributed to poor overall score in the universities. Due to which number enrollment fall from 15 five years ago to 9 last year and 8 in the current year or session. Problem Identification/ Case Issues The analysis is based on the deans view point and the measures adopted to overcome the problematic situation that existed in the university. The business school in the following case study was formed with the merger of economic department, finance and management studies and accounting department(Lewin, 2008). The merger was taken place to improve the ranking of the Australian university and was a result of university wide restructuring exercise. The school is suffering from huge financial deficit which has gradually increased over time. In particular the report highlights the reason behind the deficit and declining of the university ranking and highlights the future course of actions that needs to be taken to overcome the situation and improve the overall ranking of the university. The complete analysis of the three departments teaching and research initiatives are done in order to reach the conclusion and present recommendations for the business school(Piercy, 2008). The department needs to be innovative in the research and teaching areas to bring a difference in the learning experience. Further courses related to the industrial need should be included to attract the students as the final goal of a Business school graduate is to get job placement. the organization wide communication platform should be launched to integrate and motivate the staff members from all the departments, an open discussion forum should be well placed to get suggestions for students as well as the staffs to improve the quality teaching and introduce innovative research programs to build a future business leader(Szabla, 2007). The business school does not have innovative approaches on providing quality learning experiences for students due to its deficits. The academics look lot after the administration associated works; admission, timetabling, examining Very little integration among three departments. Separate undergraduate programs, which leads to poor enrollment(Puccio, 2010). Problem Analysis and Justification Once the problems for the university was analyzed in order to obtain suitable justification, the following justification came up. Cost effective approaches can provide high quality learning experiences for students. As the university had already been burdened with huge amount of costs from various non-productive activities. There are scopes that the university make up for the various high costs items and design program solutions for students at a proportionate costs that can yield a bit of income(Carter, 2008). Appropriate qualified support staff that has the motivation or competence to undertake this work. Employing qualified and productive staffs or professors in various departments who will be productive can yield the university high ratings. Professors with high academic skills as well as research experience can highly help in achieving the desired ranking by the university. Interaction among all the departments can bring a better growth of the business school. As the departments are separated without any interactions there are several communication challenges(Lozano, 2013). But once there are departmental meetings, departmental get together on any discussions there is bound to be increase in productivity for the overall university. A new degree, by combining economics with input to other two departments can bring high student demands. Alternative Solutions It is important, that the ability to recognize the blocks or problems hindering the business school and to solve them. Alternative solutions provides scope for improvement(Paton, 2008). There are many alternative solutions to overcome them; By recognizing the actual effect of the problem and try to solve it with an effective solution. The actual problem that each department and in regards to each area will help solve challenges in regards to university ranking altogether. Hitting at the problem directly will not only help diagnosis of the issue but also help in designing appropriate solution for the university. There are many emotional needs and these needs differ from person to person, which can be overcome by recognition, self-esteem, order and belonging(Senge, 2014). Each person in the university is guided by their self-needs hence needs to be directed according to their personal attitudes and motivational levels. Lack of knowledge or skill, lack of creative thinking are few factors which need adequate problem solving techniques. The employed persons occupying several important positions at the university lacks adequate knowledge or skills hence either they need to be properly trained or involved in research programs. This will help attend to the solution for the issue(Klaus, 2014). The ability to use languages effectively such as words, mathematics, scientific symbols, drawings and so on. The ability of the professors needs to be upgraded and kept at par with other university or institutes standards in order to increase the university ranking and to solve its brewing problem. Most importantly the management style can influence both staff and students to solve their problems and to come up with creative ideas(Cummings, 2014). Each person with the organization is responsible in achieving the desired goal of the organization. in this case the staffs, professors as well as students reserves the right to resolve any problem that is occurring. High quality courses with manageable budget which can be afforded by all students. The university needs to design courses that students can easily afford in order to promote their degree and gain considerable amounts of students. Highly qualified professionals who can deliver studies on current business industry. The university needs to appoint guest lecturers and industry persons in order to upgrade students with the latest happenings in the industry(Hall, 2006). Recommendations The sources of concern for the business schools, is centered on its research work, faculty and present curriculum. Business schools asked to produce graduates, who can adapt, integrate, work in team, manage global diversity and can bring best in others. Hence, it is felt that trained or focused faculties can only do this to enhance the skills of the students. Building communication links and networking between faculty or staff and students can be helpful in achieving the goals. As for curricula and research, it has become very difficult to get professors to pick up the studies required by the current business community, and is becoming frustrating. Hence the ability is needed to mobilize resources of industry specific knowledge. The research work should be included in the curriculum for the students after the first year of MBA and should be made mandatory to with industry projects. The research should not be research but what is researched, which will make or bring a difference. Implementation The university will implement the above recommendations with the following steps. In order to develop and implement high quality course that are challenging, the university needs to design particular course curriculum. The university can adapt suitably to the recommendations by providing excellent delivery of the course material by qualified professionals or industry experts. The university needs to design strategies like meetings and group seminars for developing good communications among all the departments. The university after solving this problem needs to design globe development strategy plans. This plan will be primarily aimed at attracting students from across the globe. The university needs to create visions for the students for their future. The university can appoint a few industry leaders for taking such classes on vision. The university needs to engage and execute strategies by the staff. This will result in proper implementation of the designed strategies and will also meet their strategic goals. A good culture of the school can hold the values, attitudes, beliefs and behavior of its staff and students. References Anderson, D. a. (2010). Beyond change management: How to achieve breakthrough results through conscious change leadership. John Wiley Sons. Carter, E. (2008). Successful change requires more than change management. The Journal for Quality and participation, 31(1), 20. Choi, M. . (2010). Individual readiness for organizational change and its implications for human resource and organization development. Human Resource Development Review, 1534484310384957. Cummings, T. a. (2014). Organization development and change. Cengage learning. Hall, G. a. (2006). Implementing change: Patterns, principles, and potholes. Hayes, J. (2014). The theory and practice of change management. Palgrave Macmillan. Klaus, C. (2014). Change Management. . Grundlagen und Erfolgsfaktoren. Lewin, C. S. (2008). Embedding interactive whiteboards in teaching and learning: The process of change in pedagogic practice. Education and Information Technologies, 13(4), 291-303. Lozano, R. (2013). Are companies planning their organisational changes for corporate sustainability? An analysis of three case studies on resistance to change and their strategies to overcome it. Corporate Social Responsibility and Environmental Management, pp. 275-295. Paton, R. a. (2008). Change management: A guide to effective implementation. . Sage. Piercy, N. (2008). Market-led strategic change. . Routledge. Puccio, G. M. (2010). Creative leadership: Skills that drive change. Sage Publications. Senge, P. M. (2014). The dance of change: The challenges to sustaining momentum in a learning organization. Crown Business. Szabla, D. B. (2007). A multidimensional view of resistance to organizational change: Exploring cognitive, emotional, and intentional responses to planned change across perceived change leadership strategies. Human Resource Development Quarterly, pp. 525-558.

Strategic Management (An Analysis on the Retail Industry)

Question: Task Critically evaluate the key issues that strategic analysis plays in a business or organisation that you are familiar with. In this assignment, you are required to write a 2500 word report. This includes a 200 word executive summary, but excludes references and appendix. Your Report should cover the following: 1. Briefly describe the background information of the organisation (or SBU) chosen. This information should be brief and relevant to the discussion of your assignment and thus may include ownership, history, size, business scope, major products/services, and major markets of the organisation (or SBU). 2. Conduct an external environment analysis including a macro-environment analysis and Porter's 5 forces analysis: (a) Conduct a macro-environment analysis for the entire industry within which the organisation (or SBU) operates. You should use the PESTEL model and focus on understanding the purpose of this analysis, the identification of key factors and their implications in te rms of key opportunities and threats, and discussion of their overall impact on industry growth in the future. Draw your conclusions based on your macro-environment analysis. (b) Undertake a competitive analysis using Porters 5 forces model. You should pay attention to the purpose of this analysis, the inter- connectedness of different aspects of the competitive forces, and their overall impact on the industry and the organisation selected in terms of main driving forces in the competitive environment. Draw your conclusions based on your five-force analysis. 3. Conduct an internal environment analysis. You should identify, differentiate and evaluate the key resources and competencies of the organisation (or SBU) that are most likely to provide sustainable competitive advantage. 4. Summarise your findings based on your external and internal environment analysis. Identify the key issues that the organisation (or SBU) faces and give your recommendations. Answer: Executive summary In the recent years, the retail industry has been experiencing the robust growth on the global platform. With the involvement of the different strategic approaches, the particular industry has been experiencing enormous growth. However, the strategic management has several challenges including orientation for globalization, involving e-commerce culture, reducing the competition in the market, product diversification, etc (Hitt, Ireland Hoskisson, 2012). Most of the retail organizations follow a particular process to execute business in both domestic and international platforms. The key concepts for strategic management are such as goal setting, investigating the strategy formation, strategy implementation, and strategy monitoring, etc (Ward Peppard, 2016). The prime challenge for the retail industry is to manage the workforce in an effectual manner. Most of the time, it becomes challenging for the retail organization to reduce employee turnover issue (Eden and Ackermann, 2013). Hen ce, the organization needs to implement unique strategies for reducing such issues from the business. Most of the business analysts have highlighted the fact that the employee motivation is one of the key components for reducing the staff turnover in an effective way (Hill, Jones Schilling, 2014). In this particular assignment, the internal and external strategic issues have been highlighted in an appropriate manner. On the other hand, the competitive analysis has been conducted based on Porter five forces analysis. The identification of internal and external issues has been highlighted in the paper. Background of the organization: The organization is one of the giant supermarkets in the global platform. With the help of the strategic business unit, the organization has been successfully executing the business in both domestic and international platform (Slack, 2015). At the initial stage, the company was formed in the UK. However, the particular business has expanded its business on the global platform. The CEO of the organization has stated that the business development strategy has been playing a major role in ensuring the long-term growth in the internal platform (Barney Hesterly, 2015). The company is determined to deliver a wide range of high quality products to the customers for ensuring sustainability in the business. The organization follows a hierarchy structure in the business, as it facilitates them in executing the business in a systematic manner. Although the particular organization is a UK based retail organization, it expanded its business to the Asian, European and North American countries (La sserre, 2012). On the other hand, the organization has been trying to implement new strategic approaches including mobile shopping to enhance the business opportunities in an appropriate manner. The organization has chosen to pursue a strategic business unit (SBU) across all of its business areas for maximizing the degree of competitiveness within the large demographic market areas (Ward, 2012). The CEO of the company has discussed that the SBU would cover the strategic foundation, size and scope of the business, strategic thrust, and product and brand identification, customer market served, the promotional activities, and the financial targets. External analysis: a. Macroanalysis: PESTEL Framework Political factors: The performance of the organization is highly influenced by the political factors, as the business has been executed in different countries. The local government always encourages the industry to create new job opportunities for the local community. However, the job opportunity would be mixed in nature including flexible, low paid and local based to high paid and high skilled jobs (Rothaermel, 2015). The particular organization has been employing a large number of students, physically challenged, and elderly staffs, who deliver good performance with a low salary. In the recent years, the retail industry has been facing the high turnover issue. Hence, their employment structure facilitates them to reduce the turnover issue in an effective manner. Economic Factors: The economic factors largely influence costs, price and profits of the business. The most influential economy factor is the high rate of unemployment. Consequently, it decreases the effective demand of certain product line (Mellahi Frynas, 2015). These factors are not controllable by the strategic business unit of the organization. Although the international market is expanding, the particular organization needs to follow the strategic approach to experience adequate profit margin in the business (Stead Stead, 2013). Social or Cultural Factors: According to the current market situation, the customers have moved towards the bulk and one-stop shopping due to several social changes. Hence, the organization has enhanced the non-food items in the stores. On the other hand, the demographic changes including an aging population, reducing in the homemade meal, and an increase in female workers have facilitated to enhance the business in an effective manner (Keupp, Palmi Gassmann, 2012). Moreover, the demand of product depends on the social conditions. The organization has focused on selling the organic food products. Technological Factors: In recent years, the organization has brought several technologies for enhancing the business opportunities in both domestic and international market. The retail stores employ the technologies like wireless devices, intelligent scale, electronic self-labelling, self check-out device, radio frequency identification (RFID) (Goetsch Davis, 2014). The implementation of the electronic fund's transfer systems (EPoS), electronic point of sale (EFPoS) has made a great impact on the business. Environmental Factors: The organization has been focusing on the corporate social responsibilities of the business. The organization has provided huge job opportunities for the local communities. Consequently, it facilitates in enhancing the social status. On the other hand, the organization has been paying an adequate amount of taxes to the government, which facilitates in strengthening the national economic structure (Harrison John, 2013). Legislative factors: Different legal policies of the government have created a great impact on the retail business. The food retailing Commission (FRC) has implemented a new code of conducts, which says that the organization needs to stop the unethical practices such as changing the price without notice, demanding payments from the suppliers (Fernie Sparks, 2014). b. Competitive Analysis: Porters 5 forces model Threat of New Entrants: The grocery market is dominating by some retail organizations. Due to the huge competition in the market, the organization face challenges in expanding the business in the global platform. In the UK grocery market, a top brand like Tesco, Asda, and Sainsbury possess 70% of the market share (Hamilton Chernev, 2013). Over the last three decades, the grocery market has turned into a supermarket dominated business. The majority of the large grocery chains have built their business based on their operating efficiency, major marketing mix expenditure, and one-stop shopping (Varley, 2014). This particular force has a great impact on the small business also. Hence, it can be assessed that the new entrants have to face several challenges for executing the business in the domestic market. It is very difficult for the new entrants for raising sufficient capital due to developed supply chains and large fixed costs. Bargaining power of suppliers: This particular force indicates the power of suppliers, which may be influenced by the large grocery chains in the market. It indicates the fear of losing the business to the supermarkets. It allows for negotiating the better promotional prices in the business. On the contrary, the suppliers also get threatened due to the huge growing ability of the large retail business (Ellram, Londe Weber, 2013). Most of the time large retailers force their suppliers to deliver the product at lower price. Hence, it can be assessed that the competitive rivalry forces have reduced the profit margins for the supermarket chains and suppliers. Bargaining power of customers: The enhancement of the undifferentiated products facilitates to reduce the switching cost. Consequently, more power is yielded to the buyers. The particular organization has engaged different loyalty card program for enhancing the customer retention process. Due to the implementation of customer retention strategy, the organization has been experiencing better profit margin in recent years. In recent days, the retail food organizations have engaged them in selling the non-food items due to increased customer demand in the market (Bloom et al., 2012). Most of the supermarkets expand their business into banking sector or the pharmacy sector. On the other hand, the consumer has also become aware of the challenges like fair trade. Threat of substitutes: General substitution can decrease the demand for a particular product, as the customer can switch to the product at any point of time. In the recent years, the emerging industry has been experiencing different changes in the business approach. In this context, the particular organization has been trying to obtain existing small-scale operations and opening Express stores in the local towns. Bargaining power of competitors: The strategic business unit of the organization has highlighted the fact that the increasing demand of customer has facilitated the retail industry in experiencing enormous growth (Hbner Kuhn, 2012). The market size of the organization has been expanded to both domestic and international platforms. In the competitive market, the organization has been trying to implement innovative approaches in the business for experiencing high profits. The innovative approaches may include the development of a wide range of trading formats for bringing changes in the consumer behavior. The retail organizations have been focusing on price and value to obtain a better position in the competitive market. Internal analysis: SWOT Analysis The organization has strong financial resources, which allows them to expand the business in the large demographic areas. The strengths, weaknesses, opportunities and threats of the organization are discussed in the below table: Strengths The prime strength of the organization is its increasing market share. It holds an adequate percentage of shares in the UK retail market. The general growth and ROI indicate its position in the retail industry (Ward Peppard, 2016). The organization has been expanding its business in the large international market. The online shopping facilities have facilitated them in enhancing their profit margin in the business. The brand value of the organization is helping them in increasing its customers base both in the domestic and international platform. Weaknesses Although the international market has been developing, the organization is quite dependent on the domestic market (Hitt, Ireland Hoskisson, 2012). Debt reduction is another challenge of the business. Due to the large capital expenditure, the financial resources have been decreased for other operations. In the emerging market, the organization has been conducting the business itself. In some region, they should tie up with other organizations to obtain better profitability (Eden and Ackermann, 2013). Opportunities Most of the retail organizations have been trying to invest on the non-food retails ventures. Hence, the particular organization should involve the nonfood items in the stores for enhancing their total sales. The organization needs to focus on the product diversification for improving its business opportunities in the global market. Although the organization has made a footstep into the international market, it needs to improve its financial resources for further international expansion (Slack, 2015). Threats The huge market competition has brought challenges for the retailers to for delivering high quality products at a reasonable price. Due to political legislations, the organization may face challenges in expanding the business on the international platform. In the UK market, there are several retail leaders including Wal-Mart or Asda (Hill, Jones Schilling, 2014). Consequently, it creates challenges for the organization to execute the business in an effectual manner. Identification of issues of internal and external environments: By analyzing the internal environment, it can be assessed that the organization is dependent on its domestic market. However, the particular organization has made the footstep into the international market (Barney Hesterly, 2015). On the contrary, the financial strengths allow the organization in expanding the brand in the international market. The retail industry has been facing huge challenges in managing a proper workforce in the business (Lasserre, 2012). For conducting the business in an accurate manner, the organization needs to focus on their employee engagement policy. The biggest strength of the organization is its brand value. Consequently, the management should utilize its brand name for recruiting highly skilled employees in the business. On the other hand, the retail organization needs to focus on the emerging business process, as it facilitates in gaining business opportunities in the new market structure (Ward, 2012). For avoiding political legislations, the organizat ion can merge their business with the existing market leader to obtain a profitable outcome. By improving the pricing policy and promotional activities, the retail organization can reduce the threats of new entrants. Product diversification is one of the major components for obtaining success in the business. Without including a wide range of products into the stores, the organization would not be able to engage a huge number of customers (Rothaermel, 2015). In recent years, most of the retail organizations have been focusing on the non-retail food products for enhancing the business opportunities. Hence, the particular organization may include diversified products for the enhancement of the business. By conducting the external analysis, it can be identified that the political frameworks often create difficulties to the retail organizations in expanding their business in the international market. However, the local government often encourages the organization to create new job opportunities in the society (Mellahi Frynas, 2015). On the other hand, the high rate of unemployment reduces the demand for products in the business. Sometimes, the organization fails to include the product according to the social condition. Consequently, it decreases the business opportunities in both domestic and international market. Sometimes, the retail organizations face challenges in the execution business process due to lack of technology (Stead Stead, 2013). In the modern era of business, the technological advancement has brought a bunch of opportunities for the retail stores to enhance the business opportunities in an effective manner. However, the market entrants are often unable to involve enh anced technology in the business due to lack of financial resources. Consequently, it creates barriers for them. Most of the business analysts have agreed with the fact that the legislative frameworks often create difficulties for expanding the business in the international market (Keupp, Palmi Gassmann, 2012). The new entrants always need to follow the code of conducts of the business for executing the business in an effectual manner. By conducting the competitive analysis, it can be assessed that the existing retail organizations often face difficulties in competing with the new entrants, as the new organization follows low pricing policy for engaging a huge number customers in the business (Goetsch Davis, 2014). On the other hand, the suppliers also face several issues to deal with the retailers. Sometimes, the large retail organizations create pressure on the suppliers to supply products at the cheap pricing rate. Conclusion: It can be concluded that the success of the retail organizations depends on its strategic business applications. In the rapidly changing business environment, the organization needs to implement different strategies for enhancing its business opportunities in an efficient manner. For surviving in the competitive market, the retail organizations must adapt to the quick changing circumstances. Hence, the strategic formulation plays an integral role in the business. Moreover, the strategy formulation indicates the continuous process of learning about the market structure and its ever changing nature. With the involvement of the strategic business unit, the organization can understand different aspects of business including strategic foundation, size, and scope of the trade, product and brand identification, the promotional activities, and the financial targets, etc. In this particular assignment, the internal and external analysis on the retail industry has been conducted. On the other hand, the competitive analysis has been discussed on the particular organization. Hence, it can be assessed that the particular paper highlights the strategic analysis on the retail industry in an effectual method. References: Barney, J. B., Hesterly, W. (2015).Strategic management and competitive advantage concepts and cases. Pearson. Bloom, N., Genakos, C., Sadun, R., Van Reenen, J. (2012). Management practices across firms and countries.The Academy of Management Perspectives,26(1), 12-33. Eden, C. and Ackermann, F., 2013.Making strategy: The journey of strategic management. Sage. Ellram, L. M., La Londe, B. J., Weber, M. M. (2013). Retail logistics.International Journal of Physical Distribution Logistics Management. Fernie, J., Sparks, L. (2014).Logistics and retail management: emerging issues and new challenges in the retail supply chain. Kogan Page Publishers. Goetsch, D. L., Davis, S. B. (2014).Quality management for organizational excellence. pearson. Hamilton, R., Chernev, A. (2013). Low prices are just the beginning: Price image in retail management.Journal of Marketing,77(6), 1-20. Harrison, J. S., John, C. H. S. (2013).Foundations in strategic management. Cengage Learning. Hill, C. W., Jones, G. R., Schilling, M. A. (2014).Strategic management: theory: an integrated approach. Cengage Learning. Hitt, M. A., Ireland, R. D., Hoskisson, R. E. (2012).Strategic management cases: competitiveness and globalization. Cengage Learning. Hbner, A. H., Kuhn, H. (2012). Retail category management: State-of-the-art review of quantitative research and software applications in assortment and shelf space management.Omega,40(2), 199-209. Keupp, M. M., Palmi, M., Gassmann, O. (2012). The strategic management of innovation: A systematic review and paths for future research.International Journal of Management Reviews,14(4), 367-390. Lasserre, P. (2012).Global strategic management. Palgrave Macmillan. Mellahi, K., Frynas, G. (2015).Global strategic management. Oxford University Press. Rothaermel, F. T. (2015).Strategic management. McGraw-Hill. Slack, N. (2015).Operations strategy. John Wiley Sons, Ltd. Stead, J. G., Stead, W. E. (2013).Sustainable strategic management. ME Sharpe. Varley, R. (2014).Retail product management: buying and merchandising. Routledge. Ward, J., Peppard, J. (2016).The Strategic Management of Information Systems: Building a Digital Strategy. John Wiley Sons. Ward, K. (2012).Strategic management accounting. Routledge.

Antigone Essays (833 words) - Ancient Greek Theatre, Operas

Antigone And Kreon In Antigone, both Antigone and Kreon could be considered the tragic hero of the play. A tragic hero, defined by A Dictionary of Literary, Dramatic and Cinematic Terms, is someone who suffers due to a tragic flaw, or hamartia. This Greek word is variously translated as "tragic flaw" or "error" or"weakness". Kreon's hamartia, like in many plays, is hybris ? Greek for overweening pride, arrogance, or excessive confidence. Kreon's hybris causes him to attempt to violate the laws of order or human rights, another main part of a tragic hero. Also, like all tragic heroes, Kreon suffers because of his hamartia and then realizes his flaw. The belief that Antigone is the hero is a strong one, but there is a stronger belief that Kreon, the Ruler of Thebes, is the true protagonist. Kreon's main and foremost hamartia was his hybris, or his extreme pride. Kreon was a new king, and he would never let anyone prove him wrong or let anyone change his mind once it was made. One main event that showed Kreon's hamartia and also caused the catastrophe was when he asked his son Haimon, who was engaged to marry Antigone, if he still loves his father. Haimon says he respects Kreon's ruling, but he feels, in this case, that Kreon was wrong. Haimon asks his father to take his advice and not have Antigone executed, but, because of Kreon's hybris, Kreon gets furious and makes the situation worse then it already was. He was way too proud to take advice from someone younger, and in his anger he decided to kill Antigone right away in front of Haimon's eyes. "'Just understand: You don't insult me and go off laughing. Bring her here! Let him see her. Kill her here, beside her bridegroom'" (Sophocles 919-921). This was too much for Haimon to take, and he runs out of the room, yelling, "'...her death will destroy others'" (Sophocles 908). Blinded by his pride and arrogance, Kreon takes that remark as a threat to himself, unknowing that it wasn't directed to himself, but was a suicide threat by his own son. Another example of Kreon's tragic pride is when the prophet, Teiresias, travels all the way to Thebes to tell Kreon very important news, but Kreon pride makes him ignore it and he accuses Teiresias of being bribed. Teiresias tells Kreon that the gods are angered by Kreon's disregard for their laws, and that Kreon should release Antigone and bury Polyneices. After Teiresias tells Kreon that he, the King of Thebes, has made a wrong decision, Kreon's tragic pride is shown again. Teiresias: ?Doesn't anyone know, won't anyone consider..' Kreon: ?Consider what? What universal truths are you going to proclaim?' Teiresias: ?...how much more valuable than money good advice is?' Kreon: ?Or how much worse losing your judgement is?' (Sophocles 1210-1214) Teiresias, a blind prophet from Delphi whom has never been proven wrong, tells Kreon, "'All mankind is subject to error. Once a mistake is made... it is wise of him to make amends and not be unbending. Stubbornness is stupidity'" (Sophocles 1180-1184), but Kreon remains stubborn. "Teiresias: ?And tyrants love to have their own way regardless of right and wrong.' Kreon: ?Do you know who you're talking to? We're your rulers'" (Sophocles 1225-1228). Like all tragic heroes, Kreon must suffer because of his hamartia. After his anagnorisis, Greek for recognition, he realizes that he was filled with too much pride and that the prophet's prediction must be true. Kreon attempts to set things right, but unfortunately, does not in time. In a very ironic peripereia, Greek for reversal, his son commits suicide, as does his wife. This is all because of Kreon's tragic flaw: Pride. Kreon realizes this, and suffers, like all tragic heroes. Suffering is one of the main parts a tragic hero: realizing his or her tragic flaw when it's too late and suffering because of it. Kreon's realization of his flaw is very obviously shown when he says "'...I was wrong, not you'" (Sophocles 1464), and "'I have learned, I am ruined. It was a god. Then, right then! Hit me, held me, heaped heavy on my head...'" (Sophocles 1468-1469). His suffering is also obviously shown. "'Has someone a sword? I and grief are blended. I am grief'" (Sophocles 1502), "'Hurry, take me out of the way, I'm nobody. I'm nothing'" (Sophocles 1510-1511). Kreon is tragic hero because his actions follow the typical "tragic hero" outline. He had a hamartia, a tragic flaw, which was his pride and stubbornness, or hybris. He realized

Free Essays on Aristotle’s Nicomachean Ethics

In Aristotle’s Nicomachean Ethics, he expresses his opinions on the basis of thought through eudaimonia and arete. Eudaimonia is the goal of human conduct, or telos in Greek. In English, Eudaimonia translates into happiness, but Aristotle uses it as a well being through prospering and flourishing. To achieve this â€Å"prospering and flourishing,† one needs satisfaction of a job well done. Arete is excellence in fulfilling a function, also known as an ergon. Aristotle finds arete, or a virtue in all objects, animate and inanimate. Aristotle explains his view of the â€Å"chief good† throughout the Doctrine of the Mean, through the comparing and contrasting of virtues and vices. Aristotle begins Nicomachean Ethics with an explanation of the â€Å"chief good.† This good is presented by him through thoughts and theories of the Doctrine of the Mean. He states that all men who are in search of the good and knowledge of â€Å"the good† have a profound influence on life. He then writes how a good man, sets goals for himself on a specific task. This experience in the function of the task gives self satisfaction. An example used by Aristotle is a sculptor who participates in the art of sculpting. The end result of his sculpting is a beautiful piece of artwork.... Free Essays on Aristotle’s Nicomachean Ethics Free Essays on Aristotle’s Nicomachean Ethics In Aristotle’s Nicomachean Ethics, he expresses his opinions on the basis of thought through eudaimonia and arete. Eudaimonia is the goal of human conduct, or telos in Greek. In English, Eudaimonia translates into happiness, but Aristotle uses it as a well being through prospering and flourishing. To achieve this â€Å"prospering and flourishing,† one needs satisfaction of a job well done. Arete is excellence in fulfilling a function, also known as an ergon. Aristotle finds arete, or a virtue in all objects, animate and inanimate. Aristotle explains his view of the â€Å"chief good† throughout the Doctrine of the Mean, through the comparing and contrasting of virtues and vices. Aristotle begins Nicomachean Ethics with an explanation of the â€Å"chief good.† This good is presented by him through thoughts and theories of the Doctrine of the Mean. He states that all men who are in search of the good and knowledge of â€Å"the good† have a profound influence on life. He then writes how a good man, sets goals for himself on a specific task. This experience in the function of the task gives self satisfaction. An example used by Aristotle is a sculptor who participates in the art of sculpting. The end result of his sculpting is a beautiful piece of artwork.... Free Essays on Aristotle’s Nicomachean Ethics In Aristotle’s Nicomachean Ethics, he expresses his opinions on the basis of thought through eudaimonia and arete. Eudaimonia is the goal of human conduct, or telos in Greek. In English, Eudaimonia translates into happiness, but Aristotle uses it as a well being through prospering and flourishing. To achieve this â€Å"prospering and flourishing,† one needs satisfaction of a job well done. Arete is excellence in fulfilling a function, also known as an ergon. Aristotle finds arete, or a virtue in all objects, animate and inanimate. Aristotle explains his view of the â€Å"chief good† throughout the Doctrine of the Mean, through the comparing and contrasting of virtues and vices. Aristotle begins Nicomachean Ethics with an explanation of the â€Å"chief good.† This good is presented by him through thoughts and theories of the Doctrine of the Mean. He states that all men who are in search of the good and knowledge of â€Å"the good† have a profound influence on life. He then writes how a good man, sets goals for himself on a specific task. This experience in the function of the task gives self satisfaction. An example used by Aristotle is a sculptor who participates in the art of sculpting. The end result of his sculpting is a beautiful piece of artwork....

Reducing Stress and Enhancing Productivity through effective workspace Essay - 1

Reducing Stress and Enhancing Productivity through effective workspace Design, provision and organisation for A Bank HQ Building - Essay Example As if not enough, desirable work place environments has shaped the building design paradigms in certain ways, including the necessitation of incorporation of aspects pertaining to efficiency, as well as a reduction of stress at the work place (Broberg,1997). Indeed, in the current world, building designs concepts and building designs are arguably inseparable. Building design concepts are inclined on coming up with designs of equipment and devises, including buildings that are suitable for human operations. Such are subject to body movement, not to forget, the bodies’ cognitive abilities. Thus, the objective of desirable design concept is to foster productivity while fulfilling the health requirements. As such, the desirable design concept is most appreciable when designing products such as equipment and furniture, as well as machines that contain interfaces that are not only reliable, but easy for use (Broberg, 1997). Clearly, this relate to building designs. Nevertheless, considering that people have varied physical and cognitive capabilities, the subject of satisfactory building designs may not be fully explored without inclusivity. It is indispensable that buildings designs have to put into considerations the needs of people with disabilities such as the deaf, the blind, and those on wheelchairs. Inclusivity is a point that most architects have to put into consideration, especially when the underlying goal is to design buildings that could be accessed by all groups of people with prompting customization. What is worth noting is that desirable inclusive designs should be fit all equality groups although emphasis may be laid on disabled people. On the other hand, it is limiting to design buildings based on certain concepts and inclusivity alone. Other elements of desirable building designs, especially office areas, include Safety, security, sustainability , Comfort,

Response to the Book George Orwell's 1984 Essay Example | Topics and Well Written Essays - 500 words

Response to the Book George Orwell's 1984 - Essay Example It is discovered that the process injected and agitated with the poison of perpetual war, pervasive government surveillance, and incessant public mind control. Words such as "Freedom is Slavery, War is Peace, Ignorance is Strength" are a few of the tactics used to control the minds of its individuals and stomp out any free thinkers and open mindedness. The Citizens of Ocianian, conditioned at birth to be subordinates to a tyrant state stripping the essence of individualism and causing existing persons to pick their way through an ambiguous and meaningless existence. At the heart of this unforgiving novel, the reader discovers a protagonist character that emerges, Winston Smith. Working for the "Ministry of truth" Winston finds himself perpetuating a lie, pumping propaganda and controlling the flow of historical papers and at various times erasing the existence of people identified as" un persons," throwing them down the memory hole. Winston job is to revise the Parties history, water ing down ideals and truth so the dominate strain of the Party is not affected in any way, always on top and never wrong for the choices it makes. Inwardly, Winston struggles with the absurdity of these existential tasks and he find himself profoundly torn with a fundamental universalism; choice.

What is justice what aspects of our society make it a just society Essay

What is justice what aspects of our society make it a just society what aspect make it unjust - Essay Example Majority of values are described as just after the unequal aspects are eliminated to deliver equality. However, the result is better attained using moral values to differentiate a just society from an unjust setting. Justice in society has been determined from the political system or key decision makers that implement governance policies. Sen (2009) suggest that these policies should be placed to balance the resources among all individuals. An unjust system would favour the dominant group in society with the influence to favour poor decisions. The resources in the just society eliminate vices and adverse conditions like poverty. This is because the policies implemented would create equal opportunities to sustain development (Sen, 2009). Injustice prevails when there is intense prevalence of poverty and tyrannical decision making from the leaders. Slave morality as suggested by Nietzsche exemplifies justice within the society. This is because the theory had been placed to support the weak in society in protest against the unjust dictatorial wealthy class. The oppressed should be accorded equal opportunity to express their desires and opinions within a just system to generate equality in the society. The just society has been termed as the system that favours the prevalence of ideas and opinions of all the members in the society. Each member is regarded highly and their requirements provided by their government system. Moreover, the moral values in equality and fairness prevail in a just

The Strategic Planning Of British Airways

The Strategic Planning Of British Airways The purpose of making this report is to provide British Airways (BA) with a strategic plan for future improvement. In the airline sector British Airways known to be the UK market leader, but for the last decade British Airways has been challenged by other competitors, resulting in wearing down in their market share. The report in detail analyzes the overall environment of British Airways. This report also describes the organizational structure and other important aspects of the organization. In this report through strategic assessment, recommendation has been given to British Airways to concentrate on their primary qualities like service delivery in order to re-establish their competitive advantage. There are two strategies which British Airways will have to implement, one is related with the HR development strategy and the other is to concentrate on technological improvement. In the UK British Airways Plc (BA) is the biggest international scheduled airline. It flies to more than three hundreds destinations and carries more than thirty three million passengers. According to British Airways annual report 2008 approx  £8.7 billion of revenue was earned and according to (Data monitor, 2008) total numbers of employees as of march 2008 stays at 42,377. Along with the passenger flights British Airways engaged in the operation of domestic and international carriage of mail and shipment. Regardless of the global economic downturn, British Airways future seems promising. According to latest yearly report (British Airways, 2008) which stated that British Airways objective is to become worlds most dependable airline. Strategic Corporate Development History: British Airways came into picture after the merger of the British European Airways and British Overseas Airways Corporation. After the merger, British Airways had faced numerous problems and issues such as the cultural difference. British Airways was facing noticeable problems in cross national operations and acquisitions. According to Lubatkin Calori it was the different organizational culture and organizational culture entrenched in different national culture which was coming together (Very, Lubatkin Calori, 1996). Problem arose when employees from different organization, different background and culture had to interact with each other and when one culture had to adopt the practices of the other culture (Schneider and DeMeyer, 1991). The main reason of the problem was the mind-set of employees, different employees would think in different ways. So, coming on the same page was little difficult for the employees. Another difficulty or problem faced by British Airways is in terms of its obligatory management system. British airways have compliance with its strict policies and regulation like status difference in an organization due to various dress codes. Too much rule oriented in the management is creating problem among staff. Along with those problem another problem was arose by the new management, they were unable to identify the proper need and want of the customer. Because company has given importance on its internal management approach and focus on holding its diverse routes which resulted on unsatisfied customers. Effects of Conflicts: These problems and conflicts between management had a bad and harmful effect on the new company. British Airways has been considered as the most disreputable company because of its poor service. In addition, the organizations operation has been pretentious and in 1980 the company had been regard to have the worst timekeeping record all over European carriers flying from UK and named as the airline to circumvent. This resulted in the extensive loss for the company. Management Change at the British Airways: After being named as the airline to avoid, British Airways had to look for some changes within the organization. As a result they considered vital management changes, called change management. Some big changes were made by John King who was appointed as the chairman of British Airways by British Prime Minister Margaret Thatcher in 1981. The new appointed chairman had made some changes like closing many routes, selling off the freight system and aircraft, along with these actions he also lay off approximate twenty thousand employees. According to Carlopio change may be called as the implementation of an innovation, it can be done through an adaptation of practices in which improvement will be seen in the output (Carlopio, 1998). British Airways has recognized the need for change in order to gain competitive advantage. Colin Marshall took charge as the Chief Executive Officer of British Airways in 1982. In this period British Airways was making its first surplus, but this was happening in the effect of the changes made by John King in which he tried to cut the cost. Colin Marshall wants to know about the staff and what they deliver to the customers, so he hired consultant. Later Marshall found out that there is a huge gap between what the employees are delivering and what the customer actually need. For this reason, Marshall took initiative in changing the system from staff oriented to customer oriented company through the formation of customer is king policy culture within the British Airways. This approach of satisfying customer continued until the late 1990s and to keep the employee motivated, Marshall introduced Award for Excellence in 1987. The main objective of this strategy is to appraise high performers and motivate employees to efficiently do well in satisfying customers and fulfil customers needs. Another good change made by Marshall for employees was to work with Lancaster University to provide MBA course for British Airways employees. Additionally, the organizational structure of British Airways also changed to a much flatter and smartest structure. Five sectors of the company are directly reporting to the CEO and eleven profit hubs were formed. These structural changes aimed to boost the staff assimilation and communication within British Airways. Extra pay scheme and appraisal system was also introduced by the management on the basis of satisfying customers and being consistent at work. It included key investments in planes, ground facilities and Information Technology in order to stick to the needs of its customers. All the major changes were happened after privatization of BA in 1987 and took over British Caledonian Airways in 1988. Changes Helped the Organization: The main goal of all the changes which are imposed by British Airways is to make the industry sustain its position in the marketplace and become competitive in the airline sector. The result of the changes were positive, the company had become more customer oriented by giving excellent services. All the hard work and dedication of the management paid off when British Airways was nominated to receive the worlds best Airline award in 1989. It was a prestigious award for British Airways and it helped the organization to be efficient and productive. Without HR effective strategies, it is difficult to be strong and competitive in the market, so in this case Human Resource Management strategies were the key elements to help the company achieved competitive advantage and the prestigious award. Problems Due to Management Change: Like in any other organization whenever there is a change in the management; problems and issues arises, same case with British Airways during and after the management change, it faced different problems. At one side these changes were able to give British Airways the position it deserved in the market and on the other hands this management change was causing some problem. The problem wasnt related with the employee performance or its achievement, this problem tends to be associated with the employee. The problems were recognized was the behaviour of a number of employees which causes internal problems to the operation of the company. Response of the British Airways to Problems: British Airways was outstanding in 1999; in that year it faced so many problems and conflicts and used effective approaches to solve such issues. British Airways introduces e-commerce strategy to increase online sales. (BA) was also offering flat beds, laptop, and for business class passenger they offered email, phone and fax facility to provide full satisfaction to its on board customers. British Airways focuses on having good employee relationship and customer relationship, so it brought back its policy of putting People First. By doing this they had satisfied millions of customers and employees as well. This strategy of putting People First had made a great impact on the mind of their customers in a positive way. Current Strategic Situation: Corporate Level Structure: At a corporate level, BA has a good quality structure. There is a fresh Acting Customer Director on a provisional basis, Silla Maizey (British Airways, 2008). She has initiated a fresh customer service squad working with Heathrow Customer Services, intended to put client first. Utilizing the present structure in order to apply recommended strategy, it is suggested that an enduring director must be hired. In reference to technological strategy, no adjustments in the present structure are needed because current system of BA is accordance with the technological aspects. Business Level Structure: At a business level all division are bound to make such policies which will implement strategy effectively and efficiently, all the staff should be bound to follow strategic rule accordingly. Every division should also adapt the corporate level goals specifically to its own aims. This will assist to make value for brand, perk up its client relationship and help to accomplish the settled goals. Functional Level Structure: Each function should be harmonized with each other to achieve organizational objective effectively in a synchronized manner. All the strategies and functional objective should be aligned as well it will help each function to determine whether these functional departments are in lined with the corporate department. Adequate instruction on the fresh involved technology will be needed on continue basis to make certain that workers are completely know to that service. Organisation and Stakeholder Power It is significant to assess the expectations of diverse stakeholders and the degree to which they are likely to influence over BAs strategies. Followings have interest power on company; Charity Organizations Government/Regulators Customers Creditors Workers Rivals Suppliers Financial Associations Shareholders Stakeholder Map: INTEREST LOW HIGH POWER HIGH LOW Charity Organizations BA give cash to some of listed aid organizations in UK (British Airways, 2008) smallest impact on the strategies. Government/Regulators Fresh legislation (if initiated) will have a large impact on the company. Customers Customers give the entire sale but show less curiosity in how the corporation is administered. But they have a large impact therefore; the basic objective is to create more customer satisfaction. Creditors Should be kept knowledgeable due to cash yet to be paid though this will not impact on the options implemented at BA as they have an excellent credit ranking (Financial Analysis). Workers Are the important parts of BA, likeness workers having the power to satisfy customers. Workers have a vested awareness as BA gives their financial safety. The personnels at BA are deeply unionised, this add to the power of the workers. Rivals BAs key competitors within their strategic group have a large interest and power in manipulating BAs strategy. The oligopolistic character of the marketplace will have an effect on the choices BA takes. Suppliers Two airline suppliers, Boeing and Airbus. Both have a high interest and power upon BA, as BA is a giant source of earnings for both suppliers and BA also rely upon them for supply. In short suppliers are more focused toward BA strategies. Financial Associations Monetary support perhaps will be required from Financial associations to finance these strategies and yet despite the fact that BA has lesser its gearing ratio and enlarged its liquidity. In the present circumstances the associations have large power over BA and can reject monetary assistance. Shareholders Shareholders have a large interest as to gain financial profits. They have large input in choosing board members and approving fresh strategies. The shareholders have to be well educated about the threat of new strategy and expected profitability about the firm. PESTEL Analysis Internal Analysis: It is now necessary to examine the internal environment in order to devise appropriate strategies. Value Chain Analysis (VCA): SUPPORT ACTIVITIES FIRM INFRASTRUCTURE Structured hierarchy let BA to utilize multitude of expert knowledge in order to achieve competitive advantage over downsized companies. HUMAN RESOURCE MANAGEMENT Spend in the advancement of customer service training in 2007 drawing attention of the most excellent workers. Speak Up view surveys give confidence workers to give opinions (British Airways, 2008). TECHNOLOGY DEVELOPMENT BA has supplemented value in this category over minor corporations, due to relaxed resources that can improve the presentation of service (e.g. LCD screens). PROCUREMENT Due to the volume and past business dealings and coalitions, BA was capable to influence suppliers and by economies of scale create efficiencies where rivals might loss. PRIMARY ACTIVITIES INBOUND LOGISTICS Stock handling Far above the ground quality training credited by City Guilds (British Airways, 2008). On-going association with suppliers (e.g. Gate Gourmet.) OPERATIONS Baggage security has been increased. Rapid check-in services and safe online bookings with capability to pre-book added services. OUTBOUND LOGISTICS Customer Service Huge database of airport slots allow travellers to access the bulk of destinations from favoured airport. MARKETING SALES Marketing conversation to all stakeholders. Brand permitting for large budget to be used up in this field. POST SALE SERVICE Allegiance club card. Update conversation on other services BA has tried to organize the system additionally by forward and backward alleviation. Through handling numerous component supplies in-house, BA boosted their reach in the value system to the supplier and channel value chains. Resource Based View (RBV): It is considered that corporation competitive advantage and greater performance is resulted from its distinguishing capabilities (Johnson et al., 2008 p95). The resource based view highlight BAs resources and competencies as below: RESOURCES COMPETENCIES THRESHOLD CAPABILITIES Threshold Resources Tangible 245 aircraft flying over 550 different places (British Airways, 2008). Supplementary services (e.g. BA Holidays The London Eye Company (Datamonitor, 2008)). Intangible Worldwide Customer Database. Joint ventures coalition with one world (incl. American Airlines), code share/franchise partners, and subsidiaries. Threshold Competencies Training of ground school, flight simulators, and cabin security training (BAFT, 2009). Economies of Scale from suppliers. Capability to fly passengers securely to various routes and handle passengers (Davies, 2000). CAPABILITIES FOR COMPETITIVE ADVANTAGE Exclusive Resources Tangible Sole access to London Heathrow Terminal five (BBC News, 2008). Intangible Highly regarded brand image. BA is familiar worldwide as a good reputation brand, toughened by its long-standing survival within the business. Core Competencies Open Skies subsidiarys aircraft never have above than 64 travellers per flight, with 1 assistant per 12 customers (British Airways, 2008). Initial UK airline known as a training centre by the City Guilds, qualifying all cabin crew with NVQ Level 2 (British Airways, 2008). SWOT Analysis: It is significant that strategic formulation is reflective of BAs strengths and weaknesses comparative to competitors and the opportunities and threats presented by its outside environment (Pitts Lei, 2003). Internal Strengths: Brand likeness Joint ventures coalitions Financial volume and steadiness Internal Weaknesses: Bad worker relations history Dependability and trust Modernization modification External Opportunities: SkyTrax Quality structure Rivals forced exit Rivals deteriorating on delivering dependability Appearance of new markets External Threats: Open Skies accord Environmental consciousness Worldwide economic crisis Lesser cost competition Different Aspects of Proposed Strategies: PESTEL Worldwide economic crisis. High regulatory requirements. Growing environmental consciousness. Turn down in consumer expenditures. Greater than before utilization of the internet by consumers. Centre their attention on technological and environmental matters. Customer Analysis Consumer tendency in far above the ground expediency and elevated expectations of service. Make certain changing customer needs should be tackled and fulfilled Strategic Group Analysis Strong rivalry within strategic group and tendency for consolidation. The major other intimidation comes from low cost airlines. Though low cost airlines are the major threat to BA, stirring into low cost market is not believed suitable based on earlier unsuccessful attempts. Airline Quality Review BA = bad baggage managing poor on flight amusement and low customer contentment. Service excellence requires to be enhanced to achieve a competitive advantage The Value Chain BA adds value; financial volume and steadiness, brand likeness, business expertise, and joint ventures and coalitions. BA loses value to rivalry; worker relations and performance, marketing delivery, dependability, and slow modernization. BA requires addressing the areas where worth is being missing to avoid offensive rivals strategies. Resource Based View Tough resources including sole access to hub inside largest UK Airport. Tough training competencies. Make use of BA core competences to get competitive advantage. Financial Analysis Greater than before profits and lower operational costs. Lesser gearing ratios and elevated liquidity. Option of a loss in 2009 as a result of the economic recession. Investment resources on hand greater than before inspection on strategic projects for risk evaluation. Strategic Direction for the Future TOWs Matrix A range of strategic options will now be formulated using the TOWs matrix to resolve the strategic issues highlighted from the analysis. External Opportunities Threats Skytrax- star structure of excellence Rivals forced exit Rivals deteriorating on delivering dependability Appearance of new markets Open skies accord Environmental consciousness (Climate change bill) worldwide Economic Crisis lesser cost rivalry Internal Strengths Brand likeness Joint ventures and coalition Financial volume steadiness Terminal 5 Strategies for strengths to meet opportunities: Division focus. Supply chain migration. Introduction of admiring services. Present Broader service Strategies for Strengths to defend threats: Reformation of brand likeness. Expand into other transport markets. Weaknesses Deprived worker relations history Current negative attention on dependability conviction Rapid modernization and modification Strategies for opportunities to overcome weaknesses: Enhanced people processes. Technological improvement Strategies for Weaknesses not to expose threats: Enhanced environmental position Ansoffs Matrix: Strategy Linked to Ansoff Strategic Options Explanation 1. Market Infiltration 1. Enhancement to people processes Decrease present tension from harmful worker and customer relations. 2. Enhanced environmental position. Go over and beyond the present environmental needs. 3. Reformation of brand likeness. Reformation and modernization of brand likeness in an effort to gain market share. 4. Division focus Giving centre of attention on business class consumers as the most Lucrative segment of the business. 2. Product Growth 5. Technological improvement. Opening of internet access on flights to perk up the overall excellence of service. 6. Introduction of admiring services. Presenting of admiring services such as car rental or hotels. 3. Market Expansion 7. Present broader service Add to number of places BA fly to, put centre of attention on places of growth Such as India and China. 4. Diversification 8. Expand into other transport markets. Broaden your horizons into substitute services such as rail, in an effort to preserve competitive advantage. 9. Supply Chain integration. Vertical integration in the supply chain. I.e. Gate Gourmet or Boeing. Strategy No.1: People Processes Aim: Enhanced stakeholder brand likeness productivity Objectives: Make use of databases. Perk up service delivery effectiveness. Develop internal communication. Put into practice efficient review monitoring. Performance Measures: Income margin add up to of 2 3%. Amplified repeat purchasing by 25%. Enlarged consumer recommendation from 58% (2007/08) to 69%. Improve worker survey rate from 34% (2007/08) to 79% Strategy No.2: Technological Advancement: Aim: Customer Loyalty Market Share Objectives: Following progression with test internet execution, roll out internet and on-board internet facility. A suitable pricing strategy involving admiring service for first class whilst targeting business class as the main lucrative market. Constant market research to make certain that this is an appreciated service and seek chances for further growth Performance Measures: Put in equipment on 244 aircraft which were left. Amplify business class market share by 11%. 79% of business class consumers buying internet usage. Pursuing RD put into practice 1 new technological service. Future of British Airways: The corporation is still in front of great problems in spite of its plans and modification imposed. In this case, the Gate Gourmet increases up in the cause of the troubles in terms of the BAs brand likeness. Such argument has shaped up a concept that the business practices imposed by British Airways is not pertinent to what it demonstrate in its company images. With this, the administration is now trying to look for some strategies and methods to resolve these troubles with different strategy and along with these marketing communications will be utilized as well. In addition, the present administration also understands that the lack of leadership and entrepreneurial capability have been the root cause of all the troubles faced by the corporation. Recommendations: It appears that the main reason of the troubles faced by British Airways is due to the unplanned management transformation imposed. Additionally, the troubles also occurred because of the insufficient awareness about the strategic management system and along with the other administrative system. Strategic management is the course of identifying an organisations intentions, creating policies and plans to attain these intentions, and assigning resources, so as to execute the plans. It gives overall track to pursue to the whole enterprise (Abell, 1999). It can be sighted as a set of theories, frameworks intended to give details of the issues underlying the performance of corporation and to help managers in viewing, planning and acting tactically (Campbell, Evans Stonehouse, 2002). Conclusion: As the main objective of this assignment was to study Longitudinal Strategic Development of company for that reason one of the best airline of UK has been selected, as per requirement different analysis has been made with reference of the British Airways which includes Strategic Corporate Development History, Current Strategic Situation and Proposed Strategic Direction for the Future. Different methods were used to analyse and review British Airways current strategic situation for instance SWOT Analysis, Resource Based View (RBV), Value Chain Analysis (VCA), PESTEL Analysis, and Stakeholder Map. For Proposing Strategic Direction for the future, TOWs matrix to resolve the strategic issues highlighted from the analysis. As an outcome of the external and internal examining a number of strategic options were given. It was stated that a collective strategy method to perk up service quality was considered most appropriate. Due to the present business climate the most appropriate strategy is to consolidate BAs status as market leader. Due to lack of primary research and limited access to corporation information there might be some lacking in findings and proposed strategies, if the general direction of recommended strategic intent will lead BA to victory.

Kay Redfield Jamisons Touched With Fire: Manic Depressive Illness and

Kay Redfield Jamison's Touched With Fire: Manic Depressive Illness and the Artistic Temeprament In Touched with Fire: Manic Depressive Illness and the Artistic Temperament, Kay Redfield Jamison explores the compelling connection between mental disorders and artistic creativity. Artists have long been considered different from the general population, and one often hears tales of authors, painters, and composers who both struggle with and are inspired by their "madness". Jamison's text explores these stereotypes in a medical context, attributing some artists' irrational behaviors to mental disorders, particularly manic-depressive illness. In order to establish this link, Jamison presents an impressive collection of artists who have suffered from mental illness, whether diagnosed correctly during their lifetime or discovered in hindsight. Well organized and interesting, Jamison provides an ideal introduction to this still evolving idea, providing the reader with as many thought provoking questions as answers, and leaving the door open for further study. Jamison begins with a brief explanation of manic-depressive illness and its effects on human behavior. The term "manic-depressive illness" refers to a variety of mental disorders which share similar symptoms, but range greatly in severity. These disorders alters one's mood and behaviors, disrupt established sleep and sexual patterns, and cause fluctuations in energy level. Manic-depressive illness cause cycles of manic, energized highs followed by debilitating, lethargic lows. Such disorders usually develop early in life and intensify over time, leading to maniacal highs and devastating lows. The manic energy associated with mental disorders may cause a person to r... ...ve them of their inspiration and interfere with their creativity. It is a thorny, and relatively new, question, and Jamison merely outlines the controversy without offering an opinion on what should be done to rectify the situation, leaving the door open for further research. Mental illness in artists is a fascinating subject, and Jamison does an excellent job of providing a through portrait of many artists who have grappled with manic-depressive disorder, in addition to exploring how these disorders affect creativity and productivity. Jamison also maintains an awareness of the objections to her attempts to draw a correlation between the mental illness and the artistic community, and addresses these issues accordingly. References 1) Jamison, Kay Redfield. Touched with Fire: Manic-Depressive Illness and the Artistic Temperament. Ontario: Free Press, 1993.

Moral Decline in Society Essay

â€Å"Freedom without morality inevitably becomes merely the liberty to perpetuate evil.† The topic I will be presenting on is: â€Å"Family is responsible for the general moral decline in society†. Do any of you know what a ‘moral’ is? The Collins English dictionary defines a moral as the difference between right and wrong or good and bad. What about the word ‘decline’? It simply means a decrease. Thus, a moral decline is a decrease in the difference between knowing what is right and wrong or good and bad. Children learn moral values mainly within their families, and mainly by relying on parents as role models. When families are unstable, when parents are absent, emotionally distant, or pre-occupied, or whenever parents themselves are immoral, the learning of moral values by children is greatly slowed down. For example, what if you grew up in a family where you were forced to sell drugs at an early age? What would you grow up to do, sell drugs? Consider a family who spends time together by going on family outings, and enjoy the quality time that is being spent. During these times, parents may instill in children the proper moral values that would allow them to grow up to be proper adults. With the attack of advertising and the organized entertainment industry, and often sex and violence- saturated popular culture they are driving, childhood is no longer the relatively protected period that it has been in recent times. Children are thrust into an adult culture at an early age, just as they once were in the older era. If a child doesn’t have a strong emotional attachment to a parent, the effectiveness of the parent as a teacher and moral guide is greatly reduced†¦.

The Color Of Water Discussion Questions Essays

The Color Of Water Discussion Questions Essays The Color Of Water Discussion Questions Paper The Color Of Water Discussion Questions Paper Essay Topic: Discussion It was in her sense of education, more than any other, that Mommy convey yet her Swinishness to us. Do you agree with this statement? Is it possible that Ruth McBride Jordan s unshakable devotion to her faith, even though she converted to Christianity from Judaism, stems from her Orthodox Jewish upbringing? 3. Mommys contradictions crashed and slammed against one another like b umpire cars at Coney Island. White folks, she felt, were implicitly evil toward blacks, yet she forced u s to go to white schools to get the best education. Blacks could be trusted more, but anything involving blacks was probably substandard She was against welfare and never applied for it desk tie our need, but championed those who availed themselves of it Do you think these contradict actions served to confuse Ruts children further, or did they somehow contribute to the balance De view of humanity that James McBride possesses? 4. Ruth says that all her father wanted was money and to be American. Did he achieve those goals? 5. When James punches the Black Panthers son, what were his thoughts? Who at do his thought reveal about the potentially divided feelings of biracial children? 6. Why do you think Ruth placed such emphasis on hard work and education? . Why do you think Ruth is usually elusive about her past? 8. Ruth has a tremendous love of the Christian faith. Do you believe that her c holding experiences with Judaism sowed the seeds for her adult spiritual life? 9. Once Ruth separates from her family, she is dead to them. When she return runs to her sister or aunts, for example, they refuse to see her. Do you think this cutting of ties is j justifiable in any way? 10. During his adolescence, James spent three straight summers In Louisville, Kentucky with his older sister Jack. Explain how his experiences there affected his perspective o n his life. 1 . The McBride childrens struggle with their identities led each to his or her own revolution. Is it also possible that that same struggle led them to define themselves through professional achievement? 12. Several of the McBride children became involved in the civil rights move .NET. DO you think that this was a result of the times in which they lived, their need to belong to a gar pop that lent them a solid identity, or a combination of these factors? 13. While reading the book, were you curious about how Ruth McBride Jordan s remarkable faith had translated into the adult lives of her children? Do you think that faith is some wing that can be passed on from one generation to the next or do you think that faith that is in stilled too strongly in children eventually causes them to turn away from it? 14. Do you think it would be possible to achieve what Ruth McBride has cache Veda in todays society? 15. What out of this book stands out the most to you, and how does this relate e to the course content weve been reading/ discussing? Choose three course concepts and discuss where you see them at play in the book.

Policy Effects with Exchange Rates

Policy Effects with Exchange Rates Policy Effects with Floating Exchange Rates This chapter continues chapter nine’s discussion on the AA-DD model. It looks into the effects of the AA-DD model on an economy with a Floating Exchange Rate System. It also describes the government’s use of the model to formulate policies. It is evident that the AA-DD model affects a number of economic variables in the macro economy.Advertising We will write a custom essay sample on Policy Effects with Exchange Rates specifically for you for only $16.05 $11/page Learn More These variables include the GNP and the value of currency. Economists developed the above model to understand the connection between the various economic variables. The government affects some of these variables through expansionary policies and contractionary policies, among others. Therefore, this chapter looks at an Open Exchange Rate System and the effect of government policies on the AA-DD model. The government uses two polici es to control money supply in a country. That is, expansionary and contractionary policy with the effect of increasing and reducing money supply respectively. The effect of expansionary policy on the AA-DD model is a shift to the right. This increases the exchange rate of a country’s money with respect to another country. However, this does not happen fast. It takes on a transitional mode with many factors at play. For example, the real money supply exceeds the real money demand. This, in the short run, means that inflation levels increase quickly. However, the trend lags as more people convert their money assets into non-money assets to beat or take advantage of the inflation levels. In the long term, the natural effect is that the exchange rate will increase with the amount of cash in the economy. Governments employ the contractionary monetary policy when the money supply in an economy reduces. This reduction has the effect of shifting the AA-DD model downwards. When this h appens, there is an immediate reduction in Gross National Product of a country. It also leads to a relatively stronger local currency. Fiscal policy refers to government spending. The government is the biggest consumer and its consumption has many policy effects on the economy. The government uses this power to effect policies in a country through either reduction in spending (contractionary fiscal policy) or increase in spending (expansionary fiscal policy). An increase in government spending causes AA-DD model to shift to the right. This causes a decrease in the exchange rate. For example, the Canadian dollar would do better than the American dollar in this situation. However, this leads to an increase in the GNP for the country. This is because it may attract more foreign investment as it is favorable to them. There are many causes for an expansionary policy. This includes transfer payments, tax reductions and government direct spending.Advertising Looking for essay on bu siness economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The three factors lead to different effects on the AA-DD model. The increase in government direct spending and tax reductions leads to increase in disposable incomes in a country, which causes increase in GNP. This increase leads to increase in GNP, which also increases real money demand. The effect is that interest rates increase. The reverse is true for contractionary fiscal policies, which occur because of limited government spending. Government expansionary policy that occurs when the economy has numerous jobs spurs economic growth. This is because retailers and manufacturers enjoy better returns because of increased process of goods and services. Expansionary policy over a long period has some necessary effects to the economy. The economy feels the heat as the increase in interest rates bites. However, the GNP does not increase immediately and before that happens, the g overnment may plunge the economy into a placid situation. This is because lesser and lesser people will be willing to borrow. Fixed Exchange Rates They were once the only way to do business in the years before 1973. They are still in use albeit at a lower and managed level. There are various types of fixed rate exchange systems. In a fixed exchange rate system, the government determines the value of a country’s currency. This is contrary to a floating exchange rate system in which the prevailing market conditions determine the rate of exchange. In a fixed exchange rate system, the government or the controlling authority has a lot of control on the value of a country’s currency. However, this is not the case in a floating exchange rate system (Suranovic 56). There are various fixed exchange rate systems. The most common is the Gold Standard. In this system, which is the most common with people, Gold is used as the measure for exchange. Since it is considered to have an equal value world over, the exchange rate is fixed for particular amounts of gold. Price specie flow mechanism is the second one. It advocated for a reserve of gold whose value was known by all central banks that would have used the system. This would maintain fairness and a particular standard. Other systems include the next one is crawling pegs where a country forecasts that during a particular period there will be volatility of its currency. Thus, it fixes the exchange rate for that particular period to eliminate problems with the economy. The most drastic method of fixing a currency is to use the currency of another country. For example, south Sudan may use the American dollar at a time when using the currency of another country is the best way to curb inflation.Advertising We will write a custom essay sample on Policy Effects with Exchange Rates specifically for you for only $16.05 $11/page Learn More In a fixed exchange rate system, it is evident that the country that uses it has to do something after a certain period to adjust the exchange rates. This means that the treasury or the government arm that deals with monetary and fiscal control has to be alert at all times to mitigate a possible problem. In a floating system, however, this is not the case since the system controls itself with up and down movements depending on demand and supply. Hence, economists ask the question is it possible for the two systems to work well at the same time in a country. This is not entirely possible for a long time. It can only happen where the country wants to solve a particular problem. When the problem disappears, a country reverts to its earlier method. This is because the dynamics are too intricate and the formula and manner of doing it is too complicated. From the above discussion, it evident that a country’s central bank can intervene to solve an economic problem using exchanges rate systems. They do this through a controlled envir onment where a country declares a particular amount of money to the reserve bank. This is to adjust the levels of a particular currency in the market in cases where it is in little or too much supply. Hence, the central bank puts up Foreign Exchange Bureaus to buy or sell the currency in its residency. For example, the United States may put Foreign Exchange Bureaus that trade currency to sell British pound so that it can control its spread in the country. This chapter looks at the balance of payments. For a country to be able to purchase foreign currency, it has to stock foreign currency in reserves in its country. These reserves are called the balance of payments reserve. Because of the frequent buying and selling of both foreign and domestic currency, these reserves may run low or increase. When they run low, this is balance of payments deficit and when they are high, this is balance of payment surplus. These two are the indicators of the activity of the exchange rate and the gove rnment uses them as pointers. In any market where there is trading in currency, the issue of black market trading is imminent. The players in this illegal market can be even the best financial operators in a country. This includes banks and other financial institutions.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Governments need to use so much resource to avoid this market since it has ability to cripple the financial system. The government also needs to ensure that the Foreign Exchange market is vibrant to eliminate a situation where there is undue demand or supply of one currency leading to a serene environment for black market trading. Policy Effects with Fixed Exchange Rates Governments do not work the same in either fixed or floating exchange rates. These policies shift depending on the type of exchange rate use. In this light, it important to know how the AA-DD model would behave in such situations. This means that a country should have a fixed exchange rate policy. This chapter is an analysis of the fixed exchange rate policy in light of the AA-DD model in situations of monetary policy and fiscal policy changes. As seen earlier, the AA-DD model shifts according to changes in monetary policy. Under expansionary policy, the AA-DD model shifts to the right. The money supply puts pressur e on the exchange rate. This cause significant reduction the interest rates, which arouses public interest to borrow more from among themselves and the government. In that case, they sell their bonds and treasury shares. However, since the exchange rate is fixed, an automatic intervention form the government forestalls a situation where the rates overshadow its efforts. This is the effect in the short run. When this happens for a long time, the government loses part of its GNP. This is the exact opposite when contractionary monetary policy is involved. Hence, governments that use fixed exchange rate systems need to strike a balance between quick short-term benefits or the long-term health of its economy in making policy decisions (Suranovic 67). The government may also use expansionary fiscal policy or contractionary fiscal policy. In these two situations there are different after effects that play out. Fiscal policy emanates from the fact that the government is the major consumer i n an economy. Another way to influence fiscal policy is through transfer of payments and tax revenues. Overall, expansionary fiscal policies increase the growth national product to a certain level. This happens in the short run in a situation where the exchange rate is fixed. However, in the long term detrimental effects may play out in the economy. Contractionary fiscal policy causes the GNP to reduce significantly in the short run in a fixed exchange rate system. However, the long-term benefits outweigh the short-term results. In a situation where there is an exchange rate policy with fixed exchange rates, the government uses the concept of devaluation and revaluation to affect the monetary policy. Devaluation refers to a situation where the government lowers the value of its currency through use the reserves reduction. If the government increases the value of the reserve, it increases the value of its currency through a concept called revaluation. Generally, devaluation in a fixe d exchange rate system causes a significant increase in GNP. Revaluation has an opposite effect and this happens in the short run. This is what the United States government accuses china of doing. This part explains the reserve country and its effect on the reserve currency. For example, India may use the American dollar as its reserve currency and fix its exchange rate. By doing this, USA government has no authority to manipulate the Indian government in policy making just because it uses its money for reserve. It can use both expansionary and contractionary monetary policies to ensure the reserve fund is at its best. To maintain sanity the country holding the reserve, the government needs to constantly buy and sell the reserve to respond to different market demands. Normally, a government holds the reserve in form of treasury bonds. This way it makes it easy to trade the bonds and hence control the market real time. Failure to observe this may lead to a balance of payments crisis. Several things may lead to a balance of payments crisis. These crises may result from many things such as devaluations, capital flight, borrowing reserves, return to float among others. Fixed vs. Floating Exchange Rates The hardest question that governments and economist find is the determination between the fixed and the floating monetary policies. It is mind boggling to know which one to use. However, there is no definitive answer as all have worked and failed in different situations. For example, it is hard for a government to have the autonomy to control an economy in a fixed economy. However, it is easy to that in a floating economy. Before choosing which system to adopt, a country must consider a number of factors. This includes its effect on the volatility of the risk involved, inflationary consequences and how autonomous the monetary system will be. Exchange rate volatility refers to refs to what extent the value of exchange rate fluctuates over time. In essence, even from the wording, fixed exchange rate is not supposed to change at all. On the other hand, floating exchange rates are supposed to move up and down depending on the performance of the markets. Hence, the more the changes in the value of exchange rate the more volatile it is. By definition, fixed exchange rates are not supposed to change. However, this is not necessarily the case as they are constantly revalued and devalued denoting changes. Exchange rate risk refers to the possibility that a person may lose money because of the changes in exchange rate (Suranovic 70). Exchange rate risk is not unique to any particular person in an economy. Actually, it has the potential to have spiraling effects that span across the board. This is because it touches on various parts of the countrys economic system and particularly the import and export trade. This trade has a direct or an indirect influence on the prices of many commodities especially basic ones. Exchange rate systems have inflationary e ffects too. When a government wants to adopt a particular exchange rate system, the best way is to adopt a system with the minimal inflationary tendencies. The writer notes that many governments world over have fallen prey to citizens demanding more spending from it and transfer of payments. However, these governments do not increase taxes to cover these spending and transfers. This leads to huge public deficits, very high interest rates and inability to borrow money without significant harm to the economy (Suranovic 78). In a floating exchange rate system, the options for the above situation are quite limited just as in the fixed system. This is because the short-term solution is normally to print money. This is not very popular as it the cause of many historically infamous situations. For example, the recent happenings in Zimbabwe and the Turkey situation in the 1980 etc. After departure from the fixed exchange rates system used in 1960 and 1970, the controls were chaotic. This is because devaluation leads to automatic inflation. Additionally, the base currency in use, the dollar, sometimes experienced critical shortages because of unnecessary hoarding from some countries. Then, economists suggested the floating exchange rate where each country controlled its economy. The problems it presented were numerous as the formulation of exchange rates to facilitate import and export trade came into being. Currencies were not steady anymore and some countries suffered because of runaway inflation. Currently, the return to the gold standard, used before the arrival of Bretton Woods’s institutions, are the ones frequently proposed. The issue of monetary autonomy is back from history. In the past for decades and counting, the need to come together and have a single currency was not good. This was in the wake of a single fixed rate system, which led to a lot of chaos. Monetary autonomy refers to a country’s independency to make monetary decisions through it s central bank. This is true in a floating exchange rate system. It can increase money supply by lowering interest rates, which triggers borrowing, investment and economic growth. However, this is not possible in a fixed exchange rate system. In this system, different methods such as crawling peg. For effective central bank control of the monetary system, it has to have an independent way to operate separate from the government. This will avoid the situations in both Argentina and Zimbabwe. The above discussion leads to the question, which is better between fixed and floating exchange rate systems. The fall of Bretton Woods meant that countries would formulate either their own monetary system or come together to have a bloc that had Base Exchange rate systems. However, currently all countries look into options that best makes its economy more vibrant and stronger. For example, the Euro zone is currently engulfed in a monetary situation that is threatening its unity. Countries must f ormulate prudent and flawless monetary and fiscal policies if they are to survive the current turbulent times in the world economies. Suranovic, Steven. International Finance, 2012. Web. https://scholar.flatworldknowledge.com/books/26/preview