Billy Elliot Essay

Explain why the idea was memorable in the text(s) as a whole, supporting your points with examples of visual and/or oral language features. ‘Billy Elliot’ is a film directed by Stephen Daldry that tells of a twelve year old boy called Billy. Raised in a working class family, Billy had always possessed a love for dancing. However, set during 1984 in the small mining town of Everington, his dream of becoming a ballet dancer proves to be difficult. His father, Jacky and brother, Tony are also involved in the miners’ strike, which puts the family in financial difficulties. The main idea of this film is to pursue your dream and not to give up when there are obstacles in the way. Daldry uses Billy’s story to portray this as a memorable idea for the audience. At the beginning of the movie, Billy attends boxing classes at the local gymnasium. However, we see that Billy isn’t truly interested in boxing. One day when Billy stays behind at the gym, he becomes intrigued by the ballet classes held by Mrs Wilkinson. Rather than attending boxing classes, Billy begins to attend the ballet classes instead. As he spends more time learning ballet, Billy’s determination is also revealed. An example of this is the cross-cutting technique used to show Billy practising his pirouette. The cross cutting involves several different scenes of Billy practising to get his pirouette right. Some scenes are of him in his small bathroom and some are of him losing his patience. This shows Billy’s perseverance and determination as a dancer, a dancer that will keep practising despite not having enough space at home. Other than his determination, his passion for ballet dancing is also further revealed as Billy tries to extend himself as a ballet dancer. Daldry uses this montage to show the audience that you can get better at something with practise, even without the proper tools or environment that you are in. This was also memorable because the audience can be inspired by Billy’s determination to practise at what you love. In the film, Billy’s major obstacle is the opinion of the small mining community he lives in. Many of the people in his town believe that ballet is a feminine dance and if a male were to do ballet then he must be a ‘poof’ (homosexual). His own father and brother also feel this way about him doing ballet. An example of the public’s opinion was right after Billy successfully completed a pirouette. Mr Braithwaite, pianist at his ballet class, tells Billy quietly, ‘You look like a right wanker if you ask me, son’. In this dialogue, Mr Braithwaite represents the public’s opinion on a male ballet dancer. Another example is Jacky’s opinion on him doing ballet, ‘Lads do boxin’ or wrestlin’ or football†¦ not figgin’ ballet! This reveals Billy’s major barrier to his dream because he needs to overcome the community’s opinion and most importantly his father’s opinion until he can become a ballet dancer. Billy eventually overcomes this; however, this obstacle did help make the main idea memorable. Facing public opinions is something the audience can often relate to, and Billy’s story allows the audience to feel sympathetic towards him. Despite obstacles in his way; financial difficulties and public opinion, Billy eventually gets admitted into the Royal Ballet School. The ending is set fifteen years in advance where the audience sees Jacky and Tony travelling to London to attend a ballet concert of Swan Lake. As we see the older Billy limbering up, suspense builds as the audience are only shown the backs and limbs of older Billy. When Billy runs on to the stage performing a grand jete a freeze frame is used to capture the perfected finesse. The freeze frame effectively revealed to the audience Billy’s physique, skill and confidence the he has achieved over the past fifteen years. Daldry uses this as the ending to show the audience that reward can be sown after determination and training. The freeze frame itself was a memorable conclusion to the film and Billy’s story, however it also serves as a memorable reminder to the audience that success can be earned with hard work and perseverance. Therefore, to conclude, Daldry has used techniques such as cross cutting, dialogue and freeze frame to help convey a memorable idea. The main idea of following your dream and overcoming obstacles.

Childhood Essay

reports that social class plays a very important role in a child’s upbringing because it helps determine the way a child will be raised. In Lareau’s (2003) study she came to the conclusion that there were two different patterns of child rearing: concerted cultivation and natural growth. Concerted cultivation is the child rearing method that middle class parents use focusing on not only caring for their child, but developing a personality by enrolling their children in many structured activities and developing language skills (Lareau, 2003).Natural growth is the child-rearing method that working class and poor parents use to raise their children because there is not a lot of time and money for structured activities and long verbal discussions with the children (Lareau, 2003). Families who practice natural growth child rearing practices need to focus on providing the simpler needs of the child like providing shelter, clothing, food, and water therefore unable to have the structured activities and worry about establishing communication skills. This is important to consider because the way children are raised because this has a social impact.The children that are being raised today will eventually grow up to be a part of their own society; there are social impacts on the current society because of the methods of child-rearing and the consequences that these child-rearing practices are having on children with the way they interact in society, There are benefits and disadvantages to both childrearing methods reported by Lareau (2010) however there are definitive differences in the child’s outcome due to the child’s social class and thus the method the child was raised with.In concerted cultivation children spend a lot of time with adults at structured activities and so they start to communicate with adults as relative equals. The children of concerted cultivation also have longer and more reasoning conversations with their parents which le ads them to the sense of entitlement when dealing with institutions (Lareau, 2003). Children raised with concerted cultivation had a larger group of language skills than children raised with natural growth because they communicate longer and more often with adults.This leads to children raised with concerted cultivation having the ability to manipulate rules and thus deal with institutions easier than those of natural growth, however they also have issues figuring out how to occupy their time because they did not often do â€Å"free play† (Lareau, 2003). The children that are raised with natural growth have less communication skills simply because they have less experience talking to adults (Lareau, 2003).Parents of natural growth have to worry about putting food on the table and taking care of many basic needs so when the children are spoken to its often in short direct phrases, without any room for questioning or discussing. The children who are raised with natural growth a lso do not have that much time spent in structured activities with adults as the children of concerted cultivation (Lareau, 2003). The children who are raised with natural growth developed what Lareau (2003) reported as constraint.Constraint was the disadvantage that natural growth children experience because of their lack of communication skills and the subordination they felt to adults. Children raised with natural growth absorbed their parents feelings of powerlessness with institutions and learned to distrust authority. These differences tend to perpetuate themselves when it comes to differences in child rearing because what class a child is raised in impacts his/her life and then when that child grows up and has children of their own the child rearing practice will most likely be used again if the child grows up to live in the same social class.It is a cycle that continues throughout generations because children usually grow up to be in the same social class they were born into and since the child rearing practices are social class based primarily the children will raise their children as they were raised. After reading Lareau’s (2003) case study I had to do some reflection to figure out with method of child-rearing it was that I was raised in. My family has crossed the line from middle class to working class several times through my childhood, but predominately I feel as if I have been raised using concerted cultivation.My mother and father separated by the time I was seven years old. While at times living with my mother basic necessities were hard to come by because of her poor management of finances, my father always was middle class (I lived with him permanently from age 15 on) and I feel as if I have been raised a middle class child. Since, I was younger I now realize I was active in many structured activities such as: ballet, tap, jazz, girl scouts, youth group at church, choir, bell choir, church plays, cheerleading, cross-country, track, an d swim team.Although I did not always think of the activities I participated in to be particularly hard on my family at the time I now realize with my brother, two sisters, and all of their activates my mother must have found it very hard to transport us all to our different activities. The number of activities I was involved in during my childhood shows proof of my upbringing being concerted cultivation because one of the characteristics of being raised with concerted cultivation is a lot of structured activities such as the ones I participated in (Lareau, 2003).Another concept of concerted cultivation which I know I have also be blessed with in my child-rearing is the better communication skills due to long discussions and reasoning with my parents (Lareau, 2003). Both of my parents have always encouraged my sisters, brother, and me to talk openly and voice our opinions. I did not realized it growing up, but now I understand that the lengthy communications I had with my parents en abled me to have a larger vocabulary, good communication skills, and feel comfortable when talking to authority or adults from institutions.The sense of entitlement I feel due to my middle class upbringing makes sense because of the amount of time I spent in structured activities with adults (Lareau, 2003). The time I spent with adults as a child and the way I spoke to them made them relative equals in my perspective. This is an advantage of having a concerted cultivation middle class upbringing because I do not mistrust authority or feel subordinate to intuitions, on the contrary I feel as if they are to serve me and that I can work with institutions to get both my and the institutions needs met.It makes sense that my entitlement feelings allow me to perform well in college and to communication effectively with all professors or staff at the college because of the experience I had dealing with institutions when I was younger. Another concept of concerted cultivation that I have exp erienced in childhood has to do with social connections. Much like Lareau’s (2003) case study has reported concerted cultivation raised children had weak ties with their extended family.This is true in my upbringing because while I love and sometimes talk to my extended family I seldom see them or would by any means categorize our relationships as strong kinship ties (Lareau, 2003). This I feel has been an unfortunate result of concerted cultivation because I see how some of my other cousins behave towards each other as they are so close talking everyday and meet several times a week for lunch or dinner.I feel this is sad because while I would love to have stronger ties with my extended family I realize it is not a part of the way I was brought up because of my middleclass child-rearing. The concept of my social connections often being mostly in homogenous age groups as a child is very accurate (Lareau, 2003). Because of the activities I participated in and the area in which I lived and went to school I predominately have friendships through activities with children much like I was at the time.

Report Essay Example | Topics and Well Written Essays - 1250 words - 3

Report - Essay Example GSK also owns and markets Aquafresh range of toothpastes, which may help smokers quit smoking. GSK’s principal pharmaceutical products include medicines in the therapeutic areas, such as respiratory, central nervous system, anti-virals, anti-bacterials, metabolic, vaccines, cardiovascular and urogenital. GSK has operated its business in 114 countries and sold products over 150 countries. The GSK operates in two segments: Pharmaceuticals and Consumer Healthcare. On June 5, 2008, GSK acquired Sirtris Pharmaceuticals Inc., a biopharmaceutical company. On October 14, 2008, group also acquired the Egyptian mature products business of Bristol Myers Squibb (BMS). Reuters reported that on Tuesday, 31 Mar 2009, Shire plc has entered into a joint promotional agreement with GlaxoSmithKline plc for VYVANSE (lisdexamfetamine dimesylate) capsules. The aim behind this promotional agreement is to improve recognition and treatment of ADHD in adults. (Reuters, 2009) On Wednesday, 25 Mar 2009 Reuters reported that GSK plans to take a significant stake in Aspen Pharmacare Holdings Limited. The reason behind this stake is to cement its current relationship into a long term bond which really makes a significant impression on the equity of both the companies. (Reuters, 2009) Issues related to the Environment, health and safety are subject to the primary and core issue because the business in which GSK deals is very much sensitive due to its attachment with the humanitarian side of the picture. So GSK’s needs to ensure that their products are neither injurious for health and nor for the environment. Lawsuits filed by patients, can be a result of adverse after-effects of any drug, which may bring a bad name and reputation for the firm, hence they need to ensure that no such window of risk is left open. The directors and senior management should give keen emphasis on practicing the corporate

Obesity in adults Essay Example | Topics and Well Written Essays - 250 words

Obesity in adults - Essay Example This is almost double the rate of obesity in 1980 (Obesity Prevention Source, 2012). Bad diet and poor eating habits: When one uses a diet that is high in calories, lacks fruits and vegetables, and has a lot of fast food in it, s/he is abound to gain weight and thus being obese (Mayoclinic.org, 2015). Medical problems: Some medical conditions lead to obesity for example Prader-Willi syndrome and Cushing’s syndrome. Some diseases for example arthritis can lead to decreased activity in the body thus causing weight gain (Mayoclinic.org, 2015). Obesity can also lead to emotional suffering of the individual (Niddk.nih.gov, 2015). A physical appearance of a person is highly valued in today’s society. Thus people are usually classified as being less attractive and this can have a negative impact on the person. Also, as some people view obese people as those who lack the willpower, these people face limited opportunities when looking for jobs, schools, and in social situations (Niddk.nih.gov, 2015). Niddk.nih.gov,. (2015).  Understanding Adult Overweight and Obesity. Retrieved 8 June 2015, from

Strategic Positioning of Southwest Airlines Assignment - 1

Strategic Positioning of Southwest Airlines - Assignment Example The world of the 21st century presents a global scenario which is powered by rapid change, ever-evolving business environment and high productivity of the masses.   The fast evolution and penetration of the internet in various corners of the globe along with the speedy acceptance of various kinds of sophisticated technological gadgets by the global masses has brought in a tremendous change in the nature and means of communication all over the world. The highly advanced level of development along the lines of communication has transformed the planet Earth into a single and highly connected entity. It is important to mention the fact that because of tremendous connectivity, the spreading and diffusion of various kinds of global trends which are emerging in various advanced and established markets are happening at a much faster rate. The fast diffusion of global trends is creating a steady demand among the consumers located in various parts of the world, which is automatically paving the way for the emergence of many new markets from various corners of the world. While studying the trend of emergence of new markets, it has been realized that majority of the new markets are emerging from young and growing economies, which are spread all over the world. Trend analysis and subsequent research have pointed out the fact that the new markets that are emerging from the developing economies will be the center point of future growth. As a result, there has been a growing trend which highlighted the fact that the businesses organizations, that are located in both the developing as well as developed economies are aggressively trying to enter into many new markets for the purpose of generating significant competitive advantage as well as solidify their future growth prospects.  

The Moral Issues Of The Animal Testing Essay Example | Topics and Well Written Essays - 750 words

The Moral Issues Of The Animal Testing - Essay Example The debates stemming from animal rights are one of the major issues being discussed in medical symposiums and environmentalists. In my opinion, animal testing is not justified. Animal testing is not only morally wrong, but also the results of the experiments are not hundred percent accurate. It has been estimated that over 50 to 100 million vertebrate animals are used in experiments and trials; the figure of animals used in testing is even greater. The animals that have not been weaned and invertebrates are not included in the aforementioned figure. A major fraction of the animals that have been tested upon is killed. Although many of the researchers are being conducted on the safety of animals, it is not justified to use animals for the purpose of human safety. It is not off beam to know more about animals and to study them in more detail like there is nothing wrong in furthering our research about planetary bodies. However, it needs to be noted that the researchers being done on an imals can be misleading. It is with experience and researches conducted in the past that have made us realize that some drugs may fail to elicit the same response as they did in animals. It is such failed researchers that attest to the fact that animals are different from humans. Using rats for cancer research was one such example where torturing animals were the sake of human good was pointless (Pakistan Politics Journal). Scientists had resorted to rats as test subjects until 1993 when it was reported that the genetic makeup of the rats renders them vulnerable to cancer, and so research on them ca never yield accurate results. Cohen adheres to the view that animals are not like humans and this is why he believes that they can be used for animal testing (94). Right is fundamentally a claim that one individual asserts over the other. A right encompasses the elements such as who holds the right and to whom it is against.

A Flag For Sunrise By Robert Stone Essay Example | Topics and Well Written Essays - 750 words

A Flag For Sunrise By Robert Stone - Essay Example He segregates his time between Connecticut, where he lectures at Key West and Yale University.A Flag for Sunrise placed in the imaginary Central American country of Tecan, assault American intrusion in such countries. Frank Holliwell, once Central Intelligence Agency worker, now and an itinerant professor. By discovering the fortune of Americans whose lives develop into entwined in Tecanecan politics, Stone add up the varied reasons that sketch Americans into clashes that they merely unclearly understand. It states the introduction of the nastiest from North American civilization, maintaining of cruel and lethal governments, and obliteration and fatalities. Pablo Tabor, a suspicious psychotic on a charge of murder, finds his fortune: demise underwater. An inquisitive, anthropologist Frank Holliwell feels living only when trapped up in the secrecy and the disgust of clashes in the frightening and cruel tropics, but cannot clarify why. Holliwell finds endurance of the fittest the only value but close that strangers have "no business down there." Everybody is probing for what only the innovatory seem to have-a "flag" or rationale-but all are let down, tormented, and slaughtered.A Flag For Sunrise offers panoply of men and women on the missing who have lost their path. Sister Justin, "the earnest nun" (5) has lost confidence, and now wants some wisdom of political reason. She memorizes the civil rights progress in Mississippi, where she depleted a night in prison. She is prepared to depart life pointlessly -- which she accomplished -- for the reason. Driving to Tecan with Marie Zecca and Tom, workers of the U.S. Embassy, and Bob Cole, a temporary journalist, Holliwell comments to himself that the massive volcanoes for which the state is well-known seem to converse " a troubling sense of the earth as nothing more than itself, of blind force and mortality. As mindlessly refuting of hope as a skull and bones" (157-58). According to Holliwell the United States obscured the world beneath pop society to use his expression, "'Mickey Mouse will see [us] dead'" (108). American trademark of optimism, is, as he know it, a disappearing thing. "Its going sour and we're going to die of it" (109-10). Current history has collapsed American confidence and fetched down with it Holliwell's confidence in that non-selling asset. Holliwell's investigation is, nonetheless, about families. His recognized dealing in life "was to husband and father, to teach, even to inspire, and to endure. These things were not trivial" (245). "The world paid in blood for their articulate delusions, but it was all right because for a while they felt better. And presently they could put their consciousnesses on automatic. They were beyond good and evil in five easy steps [. . .]" (245). Holliwell distinguishes that his complete uncertainty is a symbol of misery that final and supreme confront to supporter and political performer is similar. "There was no reason to get angry," he believes. "At his age one took things as they were. Despair was also a foolish indulgence, less lethal than vain faith but demeaning" (246). The absurdities of spiritual and political faiths inhabit in Sister Justin as a longing for realistic act, and she notices an instant when an option must be through and reserved. Her outset of political realities change the energy between Holliwell and herself so that the person who reads observes Holliwell

Gay Lesbian Parents Essay Example | Topics and Well Written Essays - 1250 words

Gay Lesbian Parents - Essay Example That reality suggests that the children of gay and lesbian couples can experience healthy and normal psychological development were it not for societal tendencies towards discrimination, on the one hand, and the innate tendency of children to react negatively to uniqueness, or difference, on the other (Ahmann, 1999). In other words, while homosexual parenting does not, in itself, limit a child's capacity to undergo a normal psychological development process, the fact that it unfolds within societies which, despite public statements to the contrary, are innately protective of the traditional family structure and biased against same-sex families, detrimentally impacts the child's opportunities for healthy development. Through a review of the arguments on either side, the research shall attempt to prove the stated argument. Western societies, despite the prevalence of laws upholding homosexual rights tend towards negative conceptualisations of homosexuality. The anthropologist, D. Gilmore (1990) asserts that societal acceptance of sexual orientations is ultimately defined by the prevalent culture and cannot be dictated by laws. Insofar as Western societies, whether as a consequence of historic or religious traditions, define homosexuality as a practice which falls from without the bounds of normalcy, if not outright abnormal, it is inherently incapable of comprehending the possibility of children of same-sex parents as anything other than underprivileged. The fact that this is not necessarily the case and that the aforementioned perception is ultimately predicated on the dominant culture's perception of homosexuality as abnormal is validated by evidence which effectively proves that cultures which perceive of homo and hetero-sexuality as equally normal, have no prejudices against the concept of same-se x parenting (Gilmore, 1990). In other words and as further emphasised by Halwani (2002), culture dictates perceptions of homosexuality and, as a result, invariably affects the children of same-sex couples. The fact that culture, concomitant with traditional definitions of marriage and family, inexorably influence perceptions of the stated relationship and, as such impact the psychological development of the children concerned, is evidenced in a plethora of commentary on the phenomenon. The law, for example, clearly defines marriage and the family unit which is subsequently formed as a "union of man and woman uniquely involving the procreation and rearing of children within a family" (Johnston, n.d.). Religion, similarly defines marriage and family, consequently maintaining same-sex unions and families to be a harmful deviation from the norm with incalculably detrimental psychological effects on the children concerned (Richardson, 2004). In other words, there exists a predominately negative perception of the same-sex family unit insofar as culture, religion and the law combine to define it as abnormal. That in itself will limit the possibilities of healthy psychological development for children with gay or lesbian parents. Psychologists have determined the existence of a strong likelihood, as evidenced by empirical fact, that children who grow up with same-sex parents can

Service marketing Essay Example | Topics and Well Written Essays - 3250 words

Service marketing - Essay Example Over the years several researches have been conducted in order to have a better understanding of service marketing. Many of these researches are published in the ‘Journal of Service Marketing’. This report presents three research reports on service marketing. Each of them is published in ‘Journal of Service Marketing’. The report provides a comprehensive outline of all the important theories and analysis that are given in the three research reports. This report is made for the marketing manager of Wal-Mart. Titles of the three journals are ‘Push, scream, or leave: how do consumers cope with crowded retail stores?’, ‘Consumer perceptions of internet-based e-retailing: an empirical research in Hong Kong’ and ‘Services marketing in a cross-cultural environment: the case of Egypt’. These three papers are chosen because they are directly related to the retail sector. The researches and the results that are stated in these th ree papers are expected to help the marketing manager of Wal-Mart to make more effective decisions in future. The research paper titled ‘Push, scream, or leave: how do consumers cope with crowded retail stores?’ is written by Anita Whiting who is from Clayton State University in USA. This report deals with the increasing problem of ‘crowding’ in retail stores. Heavy crowd in retail stores is a persistent problem for both retailers as well as consumers. Consumers are often stressed and frustrated due to heavy crowd in the store. Crowding badly affects the satisfaction level of the consumers. It reduces the time that is spent by the consumer in the store. Re patronage intentions of the consumers are also affected by the crowding. Business organisations can minimize the negative impacts of crowding by understanding the strategies implemented by the consumers to cope with the environment of a crowded retail shop. There

The Evaluating a Website for Credibility Assignment

The Evaluating a Website for Credibility - Assignment Example Similarly, students can use the web address http:/ http://www.npr.org/blogs/health/2015/03/16/393336901/vaccination-gaps-helped-fuel-disneyland-measles-spread to quickly find this website. This website’s domain npr.org is essential and one of the best way to determine its credibility of the site. In addition, it helps researchers learn the source of this web site quickly. The article from the npr gives a detailed discussion of the outbreak and spread of measles. The prime objective of this website is to enlighten the general public of the importance of vaccination, which makes it informative. Through the statement, â€Å"...there is a protective effect called herd immunity that interrupts the spread of the virus to vulnerable people† the website is optimistic that citizens will heed to the advice and embrace vaccination. Additionally, the site successfully passes the information since it is easy to navigate. Simplicity and visibility of the words used give visitors easy time while reading the information. Further, the website has an attractive picture that is accompanied by a written description of the images. The website also loads instantaneously hence saves time for the visitors. Besides, the website owner collects visitor’s geolocation data through their services for offering relevant services. The organization reserves the right to use the visitor’s comments for the purpose of improving service though it does not share personally-identifying information with the third parties. Since it does not share personal information, the website has a great sense of security and privacy. Moreover, this website is credible, and Americans and worldwide visitors should trust its information. Carder (2013) says that a credible should have an author from a recognized institution. George Freylandov has written this web page, and he is associated with the National Public Radio organization. In addition,

The Reel And Real Orange City Essay Example for Free

The Reel And Real Orange City Essay Orange County in Southern California is one of the most popular counties in the United States. This is because of its economic development in the past fifty years. The county’s popularity can also be attributed to its representation in popular culture, especially the hit television drama, The O.C. In this light, this essay describes the â€Å"real† Orange County (its history, demographics, economy, and history) and the â€Å"reel† one, focusing on how it represents and stereotypes the people and values of Orange County. The objective of the essay is to answer whether the representation matched the reality. The pilot episode of the drama’s first season is considered in this essay.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Orange County was first known in the name of Vallejo de Santa, following the 1769 expedition of Gaspar de Portolà  . In 1776, Mission San Juan Capistrano became the first permanent European settlement in the area. In the 1860s, a severe drought devastated cattle ranching, the area’s prevailing industry. People began to migrate to Orange County in the 1880s, after the discovery of silver in the mountains of Santa Ana. Because of this development, on March 11, 1889, the California legislature divided Los Angeles County and created Orange County as a separate political entity. Orange County takes its name from the orange orchards that used to cover its 782 squares miles, running from the Santa Ana Mountains in the east, to the Pacific coastline in the west. Oil extraction, avocados, and other citrus crops were also important to the early economy of Orange County.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The recent history of Orange County typifies the post-war boom of Southern California. Fifty years ago, the county was devoted largely to citrus groves, bean fields, and oil wells. A growing number of outsiders, however, began to discover the clean air and pastoral landscape. Aerospace and defense contractorsSouthern Californias biggest manufacturing sector before 1989brought well-paid, well-educated young professionals in search of high-quality suburban housing. In more recent years, the countys growth industries have been computer-related businesses and biotechnology.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Orange County residents, many of them newcomers to Southern California, sparked a conservative revival that espoused a strong defense, a weak federal government, virulent anti-Communism, staunch nationalism, and unabashed celebration of laissez-faire capitalism. Conservative churches such as the Central Baptist Church, right-wing organizations such as the John Birch Society, and local newspapers such as the Orange County Register offered a forum where such values were codified into political action. These and other institutions that highlighted Orange Countys cultural landscape, including Disneyland, reflected and reinforced a burgeoning middle-class revolt that crystallized in the suburban spaces of Southern California.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Orange County is one of the most populous counties in the United States, with the 2005 Census Bureau estimating the population at more than 3 million. In 2000, there were 2.8 million people, 935 thousand households, and 668 thousand families residing in Orange County, making it the second most populous county in California. The county’s population density was estimated at 1,392/km ² or 3,606/mi ². In 2005, it was estimated that 48% of the total population were non-Latino white, the Latino population was about 32.5%, the Asian population comprised 15.9%, and African Americans constituted 1.9% of the population. In addition, 58.6% of the population spoke English, 25.3% spoke Spanish, 4.7% spoke Vietnamese, 1.9% were Korean, 1.5% were Chinese or Mandarin and 1.2% spoke Tagalog as their first language. There is also a diverse population in terms of age. Thirty-three percent of are within the age 25 and 44; 27% of the population are under the age of 18, 21% are aged 45 to 64, 9.9% are 65 years of age or older, and 9% of the population are aged 18 to 24. The median age is 33 years.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   There were approximately 969,500 housing units at an average density of 474/km ² or 1,228/mi ². The county is also home of a population with a diverse racial makeup. Most of the households in Orange County are composed of married couples who live together. A significant number of households had children under the age of 18 living with them. According to the Census, 10.7% of the households in the county had a female householder with no husband present, and 28.6% were non-families.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Orange County is one of the wealthiest counties in the United States. It has become a symbol of affluence around the country and around the globe. The median income for a household in the county is $61,899; the median income for a family is $75,700. By community, the median income for a household in Anaheim Hills is $120,852, Villa Park has $116,203, Tustin Foothills has $96,230, Irvine has $85,624, Newport Beach has $83,455. On the other extreme, the median income for a household in Santa Ana is $43,412, Seal Beach has $42,049, Stanton has $39,127, and Laguna Woods has $30,493. The per capita income for the county is $25,826. Approximately 10.3% of the Orange County population are below the poverty line.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Thus, given the widespread popularity of The O.C., it is interesting to look at how the above descriptions of Orange County are represented in the drama. The pilot episode of the first season begins with a dirty and unattractive Chino. Ryan is arrested for car theft and is set free because he is under 18. He is thrown out by his mother and is taken in by Sandy, a public defender to his comfortable home in Newport Beach. Here, Ryan is rescued from his â€Å"unacceptable life† in Chino and is taken to Orange County. Here, the differences between Chino and Orange County are highlighted. The color tone in the former is dark, suggesting the low socioeconomic status of the people living there; whereas Orange County is always sunny, implying the almost perfect condition of everyone.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Orange County portrayed in the drama series is a sun-kissed paradise, where the teenage girls are slim and cellulite-free and the boys are toned and literally spotless. Even their parents have perfect white smiles set off against bronzed skin devoid of wrinkles. In fact, adolescent heartache and the odd family squabble aside, everything in Orange County is perfect. It is the sunshine Shangri-la where everyone is wealthy, the surf is always up, the sand stays pristine and the sea is nothing but deep blue.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   So, one may ask: How real is The O.C.? Does it accurately or inaccurately represent Orange County? Does the representation match the reality? Well, in terms of the weather and climate, the drama accurately represents the Orange County. The local tourist board claims that it is sunny in Orange County more than 80% of the year. In addition, in terms of the representation of clothing, The O.C. matches the reality as shorts and revealing outfits are always in season.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Looking deeper, however, one can say that the reel Orange County is far from the real Orange County.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The drama really does not reflect anything about the Orange County. For many residents of the county, the show does not tell them anything valuable about where they are from. For them, it is just rich white people with pathetic problems, and that the bronzed, beauty-packed paradise depicted on the series is nothing more than a glamorous lie.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Moreover, it seems that Newport Beach, the setting for the series, is an isolated city. It is only about 15 minutes away from Santa, yet it appears in The O.C. that the two cities exist a continent away. Although the drama accurately depicts Newport Beach as a place of wealthy, conservative whites, it never ventures from this coastal community. With a population of only about 80 thousand, Newport Beach constitutes only three percent of Orange Countys population of three million. Although other Orange County neighborhoods (such as Anaheim Hills, Villa Park, Tustin Foothills, and Irvine) match Newport Beach for extravagant excess, a far more accurate representation of the county is within Santa Anas borders. When characters in The O.C. mention other county cities, they do so in disapproving tones. For example, one character cannot believe that a friend attended a rock concert in Anaheim.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The US Census has just determined that the county is now officially a majority-minority region, that is, the white population now constitute less than 50% of the total population. However, none of this diversity is reflected on The O.C. While many minorities in Orange County are struggling to make their voices heard, it seems that, sadly, some people want to make minorities in the county invisible. While the minority population in the county have been steadily increasing the past few years, no one ever talks about them. One hears Mexican music playing when he or she goes to a nice restaurant in Newport Beach. But this is not heard in The O.C. Instead, typical American songs are heard in the background. It creates an impression that people in Orange County just do not want to think about minorities operating in the community.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The drama series is a fictional entity that is being made real in Orange County through various media manipulations and societal expectations. However, whether or not this commercial reflection of the life in the county is truly authentic does not seem to tamper with the show’s popularity. After all, it is this TV program where Orange County residents can find harmony in the world’s discrepancies: it is where the troubled teen gets a perfect family and it is where the geek guy gets the girl.

A Pest Analysis Of Hsbc Bank Finance Essay

A Pest Analysis Of Hsbc Bank Finance Essay The political instability that the country has suffered throughout history and still has not only affected the general conditions of Pakistan but also the foreign investors and multinational countries. Though HSBC is a foreign bank and the reporting line is in Middle East and London but the political conditions in the country affects its activities to quite an extent as ultimately the State Bank of Pakistan supervises all the activities of all local and foreign banks. As a result of the political instability, the international investors hesitate keeping their money as they are afraid of frauds and the culture of Pakistan as it is popular for its bad and unorganized trends. (Zaidi, A., 2009. Issues In Pakistan Economy. 2nd ed. Karachi: Oxford University Press.) Economical Factors: Since the world economy is moving towards a recession, so Pakistan is no exception to the economic instability and uncertainty. The GDP growth in 2007 was the fastest in Asia i.e. 7 % and was lead by growth in consumption and investments. National savings rose only slightly, indicating the slow growth in bank deposits and is low by International standards. The causes of low savings have been the low per capita income, high dependency ratio, urbanization, lack of proper infrastructure in rural areas and inflation leading to rise in prices. Inflation is high due to high food prices which offset the demand management policies and the government subsidy on oil prices. As a result of high inflation, poverty is high and the productive capacity is stressed. In the year 2007 the services sector grew by 8% with high profit recorded and an overall contribution of over 50 % in the GDP. Monetary policy was tightened but inflation was still on the rise. The expansionary fiscal policy led to central bank borrowing and concessional finance for exports and textiles. Monetary growth was accelerated due to surge in external receipts. Monetary tightening was necessary given the exceptional growth in the money supply aggregating 19.2 % percent growth that was much higher than target of 5.3 %. This growth in money supply was due to excessive government borrowings, sharp rise in NFA due to external financing of deficit through Euro Bonds, US aid and multilateral loans. The State Bank of Pakistan raised the discount rate by 50 points to 9.5 %, SBP also drained excess liquidity from inter bank market and maintained overnight rates close to discount rates. As a result the interest rates rose and this impacted the loan quality, stringent provisioning requirements, increased capital requirements, the NPL ratio to loans declined. Liquid market for short term government papers exist, but long term debt instruments need to be developed. (Zaidi, A., 2009. Issues In Pakistan Economy. 2nd ed. Karachi: Oxford University Press.) Social Factors: Since the rise in prices, the general public has become conscious towards their spendings and is facing a decrease in their disposable income. They are saving less and as a result the growth in the bank deposits has slowed down. Due to the political, economical and law order situation being very uncertain, there is lack of trust found in the people of Pakistan on the financial institutions. Another aspect that adds to it is that people are less educated and unaware of how system works so rumors create great panic that result in problems in financial sector, hence affects HSBC also. (Zaidi, A., 2009. Issues In Pakistan Economy. 2nd ed. Karachi: Oxford University Press.) Technological Factors: With the advancement in technology and the increase of its usage, it has created many opportunities to all kinds of industries. There are now automated teller machines that have replace the conventional tellers, the whole banking systems have been automated assuring transparency in the system as a result of which the trust of the consumer has been gained. The internet technology has provided new avenues to work as online banking system is a common phenomenon in the west and is gaining popularity in Pakistan too. Many mobile and telecom companies are collaborating with the bank to reach out to the customers even more efficiently and conveniently. This has raised the level of the competition thus raising the pressures to compete in unique ways to add value. (Zaidi, A., 2009. Issues In Pakistan Economy. 2nd ed. Karachi: Oxford University Press.) Law Order: The instability of the legal system and lack of freedom of the judiciary has impaired the growth of the economy as investments have slowed down. The law and order situation has become from bad to worse. The potential foreign investors have backed out and those who have already invested face threats and insecurity. The recent past is filled with the bomb blasts and attacks on foreigners and since HSBC is a foreign bank, it too has been threatened and still faces fears. Recently the government of Pakistan has enforced a law pertaining micro-financing. This law suggests that all banks must have at least three of its branches in each rural sector. (Zaidi, A., 2009. Issues In Pakistan Economy. 2nd ed. Karachi: Oxford University Press.) Industrial Analysis General Driving Force Influencing the Industry: Size Scope: The overall size of the banking sector has reached Rs 5.0 trillion by end of the fiscal year 2007. Since HSBC has only recently entered the market, its current market share is approximately around a 2-3% of the total market. The scope of the banking industry is currently limited to only a few segments that are being targeted, and that are the consumer market, the corporate segment and the small and medium enterprises. Many other segments, such as segments based on demographics, age, gender etc. exist and can be targeted upon thus increasing the scope of activities. Currently the banking sector provide facilities of deposit, with drawl, lockers, ATMà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s, issuance of pay orders, demand drafts, transfer funds between accounts, issuance of cheque books, credit card facilities, loans account, online services, currency exchanges.( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) Influences: There has been more than two-fold increase in the loan portfolio in the past three years, which is considered to be high. Even though this strong expansion is accompanied with diversification across sectors as banks have ventured into relatively new areas like mortgage financing, lease finance, project financing (traditional business areas of non-bank financial institutions), aggressive lending tendencies have implications for the asset quality of the banking sector. While on-going mergers and acquisitions are aiding the process of consolidation of the banking sector, the resulting ownership structure is posing new challenges for the regulators and supervisors. Specifically, cross ownership à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ where banks own non-bank financial subsidiaries and associated companies, industrial and brokerage companies own banks etc., has increased the complexities of the banking sector. Similarly, cross border ownership of the banking sector involve home-host regulatory and supervisory issues. Effective supervision in this environment requires a strong coordinated supervisory mechanism and strong interface with other supervisory/regulatory agencies. Fortunately, none of the above issues poses a significant threat to the stability of banking sector in the current environment. The deceleration in credit growth and the growing emphasis on internal control and risk management systems will serve to enhance banking sector stability in the future. The on-going mergers acquisitions and increased minimum capital requirements are expected to play a key role in improving the stability of banking sector. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) The money supply and the aggregate demand of the economy are great influences that affect the banking sector. With the increase in the aggregate demand in the previous years that took place as a result of the consumption driven economic policies of the government, the demand for money in the whole system increased. Therefore the money supply increased. This resulted into a high inflation rate and increase in the prices. As a counter result the interest rates decreased, thus allowing the investors to borrow at low interest rate. Thus borrowings increased and deposits decreased. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) Porterà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s Five Forces Bargaining Power of Customers: Bargaining power of customers is relatively high, as switching costs are low for customers to leave HSBC and gain banking services from other banks. Foreign banks like Royal Bank of Scotland, Barclays etc have entered the market and thus add to the local banks thus serving as the current competitors. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) Competitive Rivalry: Foreign banks are the direct competitors of HSBC that are striving for the same market share and customers. In addition, local banks have a long-term trust relationship with their customers, which still provide them an edge. The banks that are practicing Islamic banking in the Islamic State of Pakistan are the potential competitors. Since polarity in the country is increasing, the middle class segment is vanishing leaving only a hand full of the upper class and upper middle class segment to target. This segment too has now options of other multi nationals and can switch to them at any time. With a nicheà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ segment that is being targeted it is becoming tougher to fight for market share and customer retention. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) The local banks are fast to imitate and since the banking system is a very transparent one, imitation is easy, thus increasing the fight between the competitors. They are trying to capture the upper middle and the middle-middle class segment that are currently the customers of the multi national banks. With their relatively low interest rates charged to the customers and higher interest payback rates compare to HSBC, they are strong threats as they have extremely lowered the switching costs to the customers. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) Bargaining Power of Suppliers: Since the company is a financial institution, its supply is the money supply, that is supplied by the State Bank of Pakistan. Therefore, being the sole provider and supplier, its bargaining power is extremely high. The State Bank of Pakistan often imposes various restrictions on banks. Therefore, none of the banks are independent in policy making and cannot launch any product without prior permission of the State Bank of Pakistan. The banking history is replete with the examples that either Government of Pakistan or the State Bank of Pakistan puts ban on the marketability of the most successful products. All banks are restrained to independence in making their policies provided that they are not against the law and Islamic values. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) Substitutes: There are not many substitutes available. Those that are, are the share in the stock market and the government schemes such as the National Saving Schemes. The NSS is on a decline as these saving instruments are to their maturity and the customers have lost interest in them. The government has not been able to come up with any innovative saving schemes to attract the general public, therefore reducing the threat to of the substitutes to the banking industry. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) The Customer Analysis: The customers are segmented on the basis of traditional segmentation of the income levels. The high end of the segments, that is the upper middle and the upper elite class customers are not price sensitive and are willing to take high risks to earn high returns. They focus more on long term gains and are inclined towards making huge investments. They expect and demand superior customer services and consultancy required for their businesses and investments. One of their unfulfilled needs is the demand for customized and personalized business consultancies along with portfolio management consultancy and wealth management services.The lower end of the segment is more focused towards saving and small investments after careful analysis of the financial situation. They make short term plans and investments. The long term investments that they make are mostly the pension saving schemes or life insurances to safeguard their future income. They require good customer services but do not expect a first class treatment. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7) Industry Life Cycle: The Banking Sector in Pakistan has emerged in its present form after passing through various stages of development in the last fifty years. At the time of independence, the new country had no bank of its own and commercial banking facilities were almost minimal and very outdated. With the creation of the country, the Habib Group brought over its entire set up to Pakistan and banking operation started. The State Bank of Pakistan was established through an Act on July 1, 1948 which marked the beginning of banking sector in Pakistan. In 1974, all the local banks in Pakistan were nationalized. Nowadays, the world is going through a financial crunch due to the economic recession in US Economy, therefore the prevailing boom in the banking industry has been affected too. In the local market though there are many unfulfilled gaps in the banking sector, with the current products and services that are being offered, the banking sector is saturated, with a number of foreign banks and many local one too. The banking sector is thus at its maturity stage, with instability and financial crunch effecting its processes at present. .( Hussain, I., 2009 Banking Sector in Pakistan. Dawn. 29 April, p.7)

Theories on Multinational Companies

Theories on Multinational Companies 2.1.1. Introduction In the process of studying the existence, growth and business activities of multinational companies, various theoretical approaches have been developed in the past forty years, depending on the scholars` fields of specialization, perspective and objectives. It is particularly important to distinguish economic approaches to the study of multinationals, strategic management approaches, and finally, cultural approaches to the study of multinational companies. Furthermore, the second part of the literature review will be dedicated to the study of various kinds of spillovers which multinational companies create while operating in the given country, a subject which is of particular importance for the topic of this thesis. 2.1.2. Economic Approaches to the Study of Multinational Companies When reviewing the literature on multinational companies, it is evident that economists find themselves at the forefront of the research on multinational companies. According to Cantwell (1991: 17-18), they are approaching the topic from three perspectives: microeconomic (which deals with cross-border interactions of individual firms), mesoeconomic (which deals with the cross-border interactions of firms at the industry level), and macroeconomic (dealing with the growth and trend of multinationals at national and international level). All of these categories have one thing in common: they all tend to explain the existence of international production. The economic approaches to the study of international business have been dominant in the fields of microeconomics, industrial economics and macroeconomics. These include the theory of the firm by Coase (1937, 1987), as well as internalization theory by Buckley and Casson (1976) and Rugman (1980, 1980 and 1982). Other famous theories on multinational enterprises refer to markets and hierarchies approach by Williamson (1975, 1985), furthermore, market power approach or the theory of international operations by Hymer (1960, 1976), and the approaches of industrial organization by Bain (1959), Caves (1971, 1982), Hirsch (1976), Johnson (1970) and Lall (1980a). As a starting point for his research, Ronald Coase (1937) departed from the traditional microeconomic assumption which states that economic activity is determined freely by the price mechanism and that the economic system works itself. In practice this means that suppliers respond to demand changes, and buyers respond to supply changes through the open market system, which is viewed as an automatic, responsive process. According to him, opposed to the traditional thinking that the economic system is being coordinated by the price mechanisms, Coase argues: This coordination of the various factors of production is, however, normally carried out without the intervention of the price mechanism. As is evident, the amount of vertical integration, involving as it does the supersession of the price mechanism, varies greatly from industry to industry, and from firm to firm. It can, I think, be assumed that the distinguishing mark of the firm is the supersession of the price mechanism. (Coase, 1937 in Williamson and Winter 1991:20). Furthermore, Coase (in Williamson and Winter 1991:30) suggests that at the margin, the costs of organizing within the firm will be equal either to the costs of organizing in another firm or to the costs involved in leaving the transaction to be organized by the price mechanism. Even though the theory of Coase was predominantly meant for the domestic horizon, it later served as the bases of the internalization theory. The concept of internalization has its origins in the theory of industrial relations. Bain (1959) pursues the proposition that there will be possibilities of integration by the firm (acquiring and combining with supplier firms or customer firms) which, among others, have positive economies or savings in cost. Additionally, he stresses that atomistic market structures with unrestricted competition will tend to force or make automatic efficiency increasing integration, and likewise tend to deter inefficient integration. Bain further claims that no particular type of integration will be fully forced in an oligopolistic situation, but there should be a tendency for oligopolistic firms to integrate if there are other advantages (other than costs) to the integration that will not result in inefficiency. He asserts that even inefficient integration is possible if it has offsetting advantages (Bain, 1959:168). Hirsch (1976) suggested that the optimal choice between international trade and international production is determined by the firms specific knowledge advantages and other intangible assets. Rugman (1981: 45) uses Hirsch`s model and interprets it as one that treats knowledge as an intermediate product which is internalized in the structure of multinational enterprise. These ownership advantages impose effective barriers to entry to rival firms. They enable temporary monopoly power to the company by allowing it a possibility to earn profit above the prevailing industry level. Hirsch (1976) states that the greater ownership advantages are, the more economics of production and marketing prefer foreign location and therefore foreign direct investment. Authors Buckley and Casson (1976:33) give their significant contribution to the theory of internalization based upon three presumptions: Companies maximize profit in a world of imperfect markets The imperfect nature of the markets for intermediate goods urges companies to avoid them by creating internal markets Internalization of markets across national boundaries creates multinational enterprises. The main thesis of Buckley and Casson is that attempts to improve the organization of these markets have led to a radical change in business organization, one aspect of which is the growth of MNE. Therefore, a multinational enterprise is perceived as an instrument used for raising efficiency by replacing foreign markets via exploitation of internalization advantages within the framework of transaction costs and exchange. Furthermore, they insist that an MNE is created whenever markets are internalized across national boundaries, and a market in an intermediate good will be internalized only in the situation when benefits outweigh costs. The authors stress the following: Vertical integration of production will give rise to MNEs because different stages of production require different combinations of factors and are therefore best carried out in different countries, according to factor availability and the law of comparative advantage. Moreover, there is a special reason for believing that internalization of the knowledge market will generate a high degree of multinationality among forms (Buckley and Casson 1976, 44-45). Theory of internalization has been additionally advanced by Rugman (1981:28) who pointed out that internalization is the process of making a market within a company. He suggests that company creates an internal market as a replacement for the missing regular (or external) market and in order to overcome the problems of allocation and distribution by the use of administrative fiat. Furthermore, he states that the internal prices (or transfer prices) of the firm lubricate the organization as a potential (but unrealized) regular market. In reality, the internalization theory pursued by Rugman tries to explain the reasons why a company wishes to go into international production across national boundaries. On this particular subject, Rugman (1981:29) states the following: A firm will wish to locate itself abroad to gain access to foreign markets. It will choose foreign direct investment when exporting and licensing are unreliable, inferior, or more costly options. Internalization is a device for keeping a firm specific advantage over a worldwide scale. The MNE is an organization able to monitor the use of its firm specific advantage in knowledge by establishing abroad miniature replicas of the parent firm. These foreign subsidiaries supply each foreign market and permit the MNE to segment national markets and use price discrimination to maximize worldwide profits. Internalization allows the multinational to control its affiliates and to regulate the use of the system specific advantage on a global basis. The concept of creating an internal market within a company in order to avoid relatively high transaction costs of the market system is additionally researched by Williamson (1975). In his work Markets and Hierarchies, he suggests that the economics of transaction costs and in general, new institutional economics explains why companies choose to conduct hierarchical expansion instead of conducting economic activity through the market mechanisms. Williamson states that multinational enterprises choose vertical integration or hierarchy for various reasons: in comparison to the market system, hierarchy extends boundaries on rationality by allowing the specialization of decision-making and economizing on communication expense. Furthermore, hierarchy permits additional incentives and control measures to discipline opportunism. Interdependent units are adapted to uncertainties and unexpected events more easily. Hierarchy also offers more constitutional possibilities for effective monitoring and auditing jobs, which consequently narrows down the information gap which appears in the case of autonomous agents. Finally, hierarchy provides a less calculative exchange atmosphere or environment (Williamson 1975:258). Scholars like Kay (1991) and Lee (1994) acknowledged Williamsons emphasis on asset specificity as a key environmental factor, coupled with uncertainty, which leads to hierarchy or vertical integration. Asset specificity actually represents specialization of assets with respect to use or user. It appears when one or both parties to the transaction invest in equipment, which has been designed especially to perform the transaction and has lower value when used for other purpose. Williamson (1985) states that spot markets will probably fail under the condition of asset specificity. This occurs because party making transaction-specific investments, and for whom the costs of switching partners are consequently high, will fear that one flexible party will opportunistically renegotiate the terms of trade. Asset specificity as a determinant of vertical integration is crucial in relation to given conditions of bounded rationality, opportunism and uncertainty. Asset specificity is the big locomotive to which transaction cost economies owes much of its predictive content. Its neglect is largely responsible for the monopoly preoccupation of earlier contract traditions (Williamson 1985: 54-56). One of the gurus of theory on multinational enterprises is certainly Richard Caves. Caves (1971, 1982) presumed that founding of subsidiary by a multinational enterprise amounts to entry into one national market by a going enterprise based on another geographic market. One possibility of entry is horizontal expansion, when a subsidiary produces the same type of product as the parent company. Other type of entry is vertical expansion or integration across national boundaries either backward to produce raw materials or intermediate products used in its home operations or forward to provide a distribution channel for its exports (Caves 1974a, 117). Additionally, Caves assumed that foreign direct investment appears mostly in industries characterized by certain market structures in both home or host countries. He concludes that differentiated oligopoly prevails mostly in the case when companies opt for horizontal expansion. On the other hand, oligopoly, not necessarily differentiated, in the home market is typical in industries which undertake vertical expansion across national boundaries. Direct investment tends to involve market conduct that extends the recognition of mutual market dependence the essence of oligopoly beyond national boundaries (Caves 1971:1). Additionally, in order to explain the presence of multinational companies, Caves distinguished and explained three types of multiplant companies horizontally integrated company which produces the same line of products from its plants in each geographic market, vertically integrated, which produces outputs in some of the plants that serve as inputs for other plants, and finally a diversified company whose plants outputs are neither horizontally nor vertically related to one another (Caves 1982a:2). With his theory of international operations, Hymer (1960, 1976) emphasized two major causes of international operations: exploitation of oligopolistic advantages and suspension of conflicts between companies in order to strengthen market power by means of collusion. Therefore, Hymer states the following: It frequently happens that enterprises in different countries compete with each other because they sell in the same market or because some of the firms sell to other firms. If the markets are imperfect, that is, if horizontal or bilateral monopoly or oligopoly, some form of collusion will be profitable. One form of collusion is to have the various enterprises owned and controlled by one firm. This is one motivation for firms to control enterprises in foreign countries (Hymer 1976:25). Furthermore, he states that FDI could not be explained as if it were portfolio investments that is, inter country movements of capital responding to differential rates of return on capital. If this direct investment is motivated by a desire to earn higher interest rates abroad, this practice of borrowing substantially abroad seems strange(Hymer 1976:13). Hymer emphasized that international operations type of investment does not depend on the interest rate. The direct investor is motivated by profits that are obtained from controlling the foreign enterprise, not by higher interest rates abroad (Hymer 1976: 26-30). He suggested that direct investments are the capital movements associated with the international operations of companies. According to him there are several types of motivation. The underlying motivation for controlling the foreign enterprise is to eliminate competition between that foreign enterprise and enterprises in other countries, and to form a profitable collusion among them. Another motivation is control which is desired in order to appropriate completely the returns on certain skills and abilities. The other motivation arises from the fact that a firm with advantages over other firms in production of a particular product may find it profitable to undertake the production of this product in a foreign country as well (Hymer 1976: 25-26). Another contribution which is even more fundamental made by Hymer, was to argue for the link between market failure and FDI. Hymer pioneered an oligopolistic theory of the growth of production networks across national boundaries, through collusion and exploitation of ownership advantages in a market power context, instead of a location theory context. The market power school of thought pursues that internationalization lowers the extent of competition and increases collusion among firms, in general (Cantwell 1991a:30). Due to their relative abundance of capital but scarcity of labor, traditional neo-classical economics assumes that countries which are economically developed have low profit or interest rates but high wage rates prior to international operations. Therefore, capital intensive goods go from economically developed countries to less developed labor abundant countries. There can also be a tendency for capital rich countries to export capital directly through foreign direct investment in developing countries. In the same manner, economists that belong to the Marxist school of thought, advocate the idea that there is a tendency for the rate of profit to decline in capital rich countries, due to the intensity of competition. Consequently, foreign investment in less developed or underdeveloped countries serves as an outlet for surplus capital (Cantwell in Pitelis and Sygden 1991:20). Recent historical data, however, reveal a trend which challenges stipulations of the traditional neo-classical and Marxist theories. Before 1939, imperialistic and colonial influences have been determining factors which influenced international trade and investment between hegemonic countries and developing countries. Similar trade and investment patterns prevailed in 1950s, but the trend started to change in the past few decades. In 1950, around three fifths of manufacturing exports from Europe, North America or Japan were directed to the developing countries across the world, but by 1971, only just over one third (Armstrong et al., 1984:251). Additionally, Dunning (1983b:88) acknowledged that two thirds of the worlds stock of FDI was located in developing countries in 1938. This amount has fallen to just little over a quarter by 1970s (cited by Cantwell in Pitelis Sugden 1991:20). During 1980s and 1990s significant capital mobility among developed countries overshadowed foreign direct investment in the developing countries. Mergers and acquisitions were the main trade mark of multinational production activities across the industrialized world during this period. At the time, in the developing world FDI have been characterized by joint ventures, privatization ventures and pioneering projects in the field of manufacturing and infrastructure (World Economic Forum 1997:28). During the 1990s, economically developed countries were still the most favorable destination of FDIs. However, this period has been significant since a large flow of capital invaded emerging markets, especially the ones in Asia where incentives for foreign investments have been extremely attractive. China, for instance, received $42.3 billion in 1996, which accounted for 38 percent of total FDI flows to the emerging markets in that year. Additionally, other emerging markets in Asia, such as Malaysia, Indonesia and Thailand became increasingly significant recipients of foreign direct investment (World Economic Forum 1997:28-30). On a macroeconomic level, different approaches have been developed in order to explain cross-border activities of multinational companies. The most important ones are the following: the product cycle model by Vernon (1966), trade and direct foreign investment model of Kojima (1978), location theories of the division of labor as analysed by Buckley and Casson (1976), Casson (1979,1986), Casson et al. (1986) and Buckley (1988), investment-development cycle advanced by Dunning (1982), stages of development approach by Cantwell and Tolentino (1987) and the eclectic paradigm by Dunning (1977, 1981, 1988, 1993a, 1995a, 1995b). Product cycle model, as defined by Vernon (1966) represents a combination of a three-stage theory of innovation, growth and maturing of a new product with the RD factor theory (Kojima 1978:61). The latter theory presumes where a new product or technology is most likely to be created. In this new phase stage, design of the product is often being changed and therefore, its production is technologically unstable and the market is not enough acquainted with the product. Consequently, the sales will not grow rapidly and the demand for the product will remain price-inelastic. In this phase, research and development activities of scientists and technicians are of crucial importance for the introduction of inventions and changes in design. Theoretically, the introduction of the RD factor in the product cycle theory represents the addition of a factor of production to the conventional two-commodity, two-factor model. If this approach is accepted, it follows that one may add new factors of production one by one in a similar manner. At the growth phase which comes after the first one, sales of products increase. Mass production and bulk sales methods are introduced. At the same time, entries in the industry increase and competition grows among producers. Demand becomes price-elastic and therefore, sales of each firm become more responsive to the price. Under these circumstances, the realization of economies of scale and managerial ability of the company play important role (Kojima 1978: 62). Finally, when the mature phase is reached, the product becomes standardized and its production technologically stabile. Instead of the crucial role that is played by research and development activities or managerial abilities in the new-phase stage and growth stage, unskilled and semi-skilled labor become important. Therefore, through foreign investment production location is being directed to low-wage, developing countries. The expenses of marketing or exporting the product from these countries may be lower compared to other commodities, since the commodity is standardized. Kojima (1978) gave several comments on Vernons product cycle theory. Firstly, the theory is not founded on the principle of comparative costs. Vernon himself elaborates that his theory discusses one promising line of generalization and synthesis, which appears to have been neglected by the main stream of trade theory. It does not stress the comparative cost doctrine but instead emphasizes more the timing of innovation, the effects of scale of economies, and the roles of ignorance and uncertainty in influencing trade patterns. Secondly, this theory tries to explain the location of production of one commodity by a firm growing through monopolistic or oligopolistic behavior (Kojima 1978:63). Kojima (1978) suggested the so-called trade and deficit foreign investment theory as an alternative approach to the study of multinationals. Furthermore, he suggested that foreign direct investment should complement comparative advantage patterns in different countries. Such advantage has to originate from the comparatively disadvantaged industry of the source country, which leads to lower-cost and expanded volume of exports from the host country. Significant criticism of Kojima`s theory is the manner in which import-substituting investments are referred to as anti-trade oriented. While import-substituting investments could be considered as anti-trade oriented at the microeconomic level, they are not anti-trade oriented at the macroeconomic level. In fact, an increasing level of exports usually follows the growth of FDI from USA, Germany and Japan. There are proofs which suggest that export-oriented investments may have a less significant impact in industrial adjustment or in increasing the welfare of the host country since these investments are likely to be an enclave kind (Dunning and Cantwell 1990 as cited in Tolentino 1993:51). Rugman (1981:47) suggested his main objection with Kojima`s analysis is that it is set in the static framework of trade theory, meaning that his model requires perfect markets. It is obviously a mistake to observe technology as a homogenous product over time and to ignore the dynamic nature of the technology cycle. It is probable that the United States have a comparative advantage, not in technology itself but in the generation of new knowledge. Consequently, it is feasible for US FDI in technology to take place to secure new markets on a continuous basis, as successive stages of the technology cycle are used, firstly in domestic markets and than in foreign ones. Dunning (1982, 1986) contributed to the investment-development cycle model with his suggestion that the level of inward and outward investment of different countries, and the balance of the two, is a function of their stage of development as measured by GNP (gross national product) per capita. After threshold phase of development, outward investment increases for countries at yet higher levels of development. The balance between inward and outward investment in developed countries results in the return of their net outward investment to zero. The continued growth of their outward investment at a later phase results in a positive net outward investment (NOI). Tolentino(1993) offered empirical evidence for the period since the mid-1970s which imply that the existence of a structural change in the relationship between NOI and the countrys relative stage of development as a consequence of the general rise in the internationalization of firms from countries at lower stages of development. The growth of newer multinationals from Japan, Germany and smaller developed countries, as well as some of the richer developing economies, implies their firms` capacity to follow the earlier outward multinational expansion of the traditional source countries, the USA and the UK, at a much earlier stage of their national development. The enhanced significance of outward investments from these newer source countries enables firm evidence of the general trend towards internationalization do that the national stage development no longer becomes a good predictor of a countrys overall net outward investment position. Cantwell and Tolentino (1987) suggested the stages of development approach to the study of multinationals. They posed a hypothesis that the character and composition of outward direct investment changes as development proceeds. Additionally, the say the following: Countries` outward direct investment generally follows a developmental or evolutionary course over time which is initially predominant in resource-based or simple forms of manufacturing production which embody limited technological requirements in the earlier stages of development and then evolve towards more technologically sophisticated forms of manufacturing investments. The developmental course of the most recent outward investors from the Third World has been faster and has a distinctive technological nature compared to the more mature multinationals from Europe, USA and Japan, owing to the different stages of their national development. Dunning (1977, 1981, 1988, 1993a, 1995a, 1995b) and his eclectic paradigm tends to explain the ability and willingness of companies to serve markets across national borders. Furthermore, the eclectic paradigm attempts to elaborate why they opt for the exploitation of any available advantages through foreign production instead of using domestic production, exports or portfolio resource flows. He hypothesized that a company will go for international production or engage in foreign direct investment if it owns net ownership advantages (mostly in the form of intangible assets) vis-Ã  -vis firms of other nationalities in serving particular markets. These ownership advantages, accompanied by internalization and location possibilities, will enable a company to benefit when using or internalizing a particular foreign market itself, instead of selling, renting or leasing them to foreign companies. Location possibility in this context means locating a multinational firms production activity in a foreign country that possesses competitive advantages in terms of factor endowments. If these three conditions (ownership, location and internalization) are not present, the firm can instead serve its local market through domestic production and expand it to serve foreign markets through international trade. The bigger the ownership advantages of multinational companies, the more incentive they have to use these themselves. The more the economics of production and marketing favor a foreign location, the more they are likely to engage in foreign direct investment. The propensity of a particular country to engage in international production is then dependent of the extent to which its enterprises possess these advantages and the location attractions of its endowments compared with those offered by other countries (Dunning 1981:79). According to Dunning eclectic paradigm is perhaps, the dominant paradigm of international production. It presumes ownership specific advantages as endogenous variables, i.e. to be a determinant of foreign production. This means that the paradigm is not only involved with answering the question of why firms go for FDI, in preference to other modes of cross-border transactions. It is also concerned with why these firms possess unique resources and competencies relative to their competitors or other nationalities and why they choose to use at least some of these advantages together with portfolio of foreign-based immobile assets. This makes it different from the internalization model, which regards ownership advantages as exogenous variables (Dunning, 1993a:252). As perceived by Dunning, the eclectic paradigm is meant to capture all approaches to the study of international production. In his opinion the model represents a good starting point to discover the global explanation of MNE`s existence and growth since it synthesizes the explanations of the existence and nature of international production. Dunning states that his eclectic paradigm can give an adequate analytical framework which enables understanding of all kinds of foreign production in services. Stressing the interdependence between services and goods industries, he asserts that it makes no sense to try to develop a new paradigm to explain the transnationality of the service sector (Dunning 1993a:248-284). In his scholarly research, Dunning was assertive to find all possible explanations of the existence of multinational enterprise in his eclectic paradigm. As the years went by, he tried to expand knowledge in the framework of his eclectic paradigm by attempting to accommodate possible additional explanations to multinational production activity that come to his knowledge. As an example, for instance, he argues that the advent of collaborative alliances among multinational firms does not lead to the development of a new multinational theory. Therefore, he has incorporated alliance capitalism in his model. In his renewed version of the eclectic paradigm in the light of alliance capitalism, Dunning(1995a) considers that inter-firm alliances (with clear reference to American multinationals) in innovation-led production systems are emerging as dominant forms of market-based capitalism, and are overtaking the global influence of hierarchical capitalism. Dunning has focused on the narrow view of the value-adding activity of innovation-led capitalism, and has considered other joint ventures, not wholly owned production operations, dominate the multinational enterprise involvement in less developed countries (Vaupel and Curhan 1973). Both in theory or in practice, internalizing a foreign market and going for a joint venture alliance with a foreign partner are just two possible options that a multinational company can choose in international business activities. Therefore, alliance as a strategy can be the dependent variable, just like international production, that needs further explanations. Explanations to joint ventures overseas could also include ownership, location and internalization considerations. Border lines between the three levels of economic analysis microeconomic, mesoeconomic and macroeconomic have to be neglected in order to synthesize the various economic approaches to the research of multinationals. Modern economic explanations of cross-border production activities of multinational firms are mostly reflected in the configuration of ownership, internalization and location advantages. Dunning has integrated those three fractions under the wing of his eclectic paradigm, but his primary objective in doing so is still to find eclectic explanations to the phenomenon of international production. Despite the differences in academic specialism, perspectives and objectives of economists who pursued the study of the existence of multinational companies and made significant contributions this field, they have one thing in common: they all targeted the explanation of the phenomenon of international production activity across national boundaries. 2.1.3. Strategic Management Approa

Two Themes in Heart Of Darkness :: Heart Darkness essays

Two Themes in Heart Of Darkness There are many themes that run through the novel Heart of Darkness. There are however two main and significant ones. These are the theme of restraint and man's journey into self. The importance of restraint is stressed throughout Heart of Darkness. In the novel Marlow is saved by restraint, while Kurtz is doomed by his lack of it. Marlow felt different about Africa before he went, because the colonization of the Congo had "an idea at the back of it." Despite an uneasiness, he assumed that restraint would operate there. He soon reaches the Company station and receives his first shock, everything there seems meaningless. He sees no evidence here of that "devotion to efficiency" that makes the idea work. In the middle of this, Marlow meets a "miracle". The chief accountant has the restraint that it takes to get the job done. He keeps up his apearance and his books are in "apple-pie order." Marlow respects this fellow because he has a backbone. "The cannibals some of those ignorant millions, are almost totally characterized by restraint." They outnumber the whites "thirty to five" and could easily fill their starving bellies. Marlow "would have as soon expected restraint from a hyena prowling amongst the corpses of a battlefield." The cannibals action is "one of those human secrets that baffle probability." This helps Marlow keep his restraint, for if the natives can possess this quality Marlow feels he certainly can. Kurtz is the essence of the lack of restraint Marlow sees everywhere. Kurtz has "kicked himself loose from the earth." "He owes no allegiance to anything except those animal powers, those various lusts, those unpermitted aspirations lurking in the darkness of his inner station. Marlow also responds to these dark callings, and he almost becomes their captive. He confuses the beat of the drum (the call to man's primitive side) with his own heartbeat, and is pleased. Yet he does not slip over the edge as Kurtz does. Marlow keeps to the track. When he is confronted with the ultimate evil where a man "must fall back on (his) own innate strength, upon (his) own capacity for faithfulness," he is able to do so,

Public Hangings :: essays research papers

Capital punishment seemed to have been regenerated from the beginning of mankind, where beheading was considered an honorable method of meeting death, whereas hanging carried with it a definite stigma. The era of public hanging was emotionally satisfying even though the surroundings was emotionally tense. In contrast to private hangings where they were fewer observers, less theatrical from the accuse and hanging was becoming more of an inhuman punishment to inflict on those found guilty of their crime. Both forms of hangings were though to be an effective way of preventing individuals from committing a crime. Capital punishment seemed morally acceptable, to the public and there were individuals who were willing to carry out the execution. From the books; "†¦Hang By the Neck†¦", Hanging in the Balance and The trail of the Dinosaur, gives descriptions of public and private hangings, the responsibilities of the hangman and the general reaction of the public, who were for and againts hangings. In the days of public hangings, gallows or scaffolds were rather crude contraptions. Early contraptions consisted of two post in the ground, with a cross-piece between them from which the victim swung. As the years passed by a second contraption was invented, a single stout post with a timber nailed at a right angle at the top, with supporting boards attached. A third contraption was made which was a platform erected nine or more feet from the ground, in the middle of which was a trap door which swung upon hinges. This latest invention was commonly used towards the end of public hangings. In private hangings the same contraption was used, but the individual were taken down a lot quicker, for their was no need to display the executed to curious observer. Public executions were grim and was a disgusting spectacle to the accuses’ family and close friends, but for most individuals it was a time to rejoice and to celebrate. When a crowd assembled to witn ess a public event, they were out in a holiday mood. Hundreds of people came from long distances to view a hanging, concessionaires had money invested in trinkets and food to be sold at what they called jamborees. Public hanging were often imitated in plays, which were seen as despicable form of entertainment towards the victim and the accuses family. The scenes attending the hangings were for large gatherings from far and near, mostly bent on idle curiosity or for a grand jollification.

Role Reflection In Nursing

The nursing role is rapidly evolving as nurses are tasked with an even wider range of health care responsibilities. In hospitals, clinics, and care centers around the US, nurses are rising to meet these challenges. Today's nurses are not just caring for the sick; they are changing our very notion of modern medicine and health care delivery. A nurse's role is about being a more effective member of the health care team and navigating clinical systems. No matter the work environment, all nurses are members of the profession which implies accountability for one's professional image (Essentials ofBaccalaureate Education, 2008, p. 9). In my career as a nurse, my role has changed many times and began as a provider of direct patient care. My first job after graduation I worked as a bedside nurse on an Orthopedic and Rehabilitation floor in the hospital setting. As rehabilitation staff nurse, provided direct care and education on self-care including safe medication administration, sleep, nutr ition, safety, bowel and bladder care. I helped perform activities that served to maintain and restore function and prevent complications.I feel lucky to have had this opportunity as my first nursing role because of the team-based care coordination and the value based on each member of the interdisciplinary team. As I transitioned from a novice nurse to a more competent nurse, I gained perspective from planning my own actions based on critical thinking and organization. It was during this time that began to think of long-term goals pertaining to my nursing career. After two years, I was approached to train to cover the Care Coordinator role for the department of Orthopedic during her times of vacation and medical eave.This quickly turned into a full time position for me and took me away from direct bedside nursing. My main responsibilities were to assist the patient with transitions between healthcare settings, identify skills and expectations of patients and families in regard to t he rehabilitation process and help ensure the patient and his or her family understood their healthcare benefits. Enjoyed learning all the aspects of coordinating patient care for this population. Five years passed and accepted the Manager position of the Orthopedic Institute.It served me well to rely on the team based environment when I began honing my skills as a leader. I quickly learned to supervise and delegate to staff, manage a million dollar budget and remain visible and open to staff. Served my clinical area by developing, implementing and evaluating systems that ensure cost effective, quality patient care. There were times as a manager that my priorities were to maintain multiple projects in alignment with our vision. Communication was always a must for an effective relationship with staff and providers.As a ember of the profession of nursing I have been able to take part in many activities. Have joined professional organizations. I have enjoyed participating in research f or our Orthopedic population. Have participated in community events. It is very rewarding to be able to serve the community in which you live. Throughout my career, as a direct care provider and currently a manager of a patient care center, I have always insisted that patients and families come first and my primary goal is to provide safe quality care.A professional nurse must have the ability to think critically, mufti-task ND prioritize appropriately. I am truly honored to have chosen a profession that has allowed me the opportunity to grow and become the successful leader I am today. Am fully committed to furthering my education and focusing on the next chapter in my career. Nursing has become more complex in ways that could not have been imagined a generation ago. Now there is an imperative to be not just a great caregiver but a great innovator too. The demands of health care are calling for a new generation of thinkers who want to be agents of care innovation.Nursing is a profe ssion for the intellectually curious, lifelong learner. However, as nursing continues to evolve with new hospital structures, wonderful technology, and political challenges, the heart of the profession stays the same. Whatever the tools and technologies, the job of the nurse will remain caregiver and advocate for the most sick and vulnerable members of our communities. The field is growing and so are opportunities for nurse practitioners, DNA and PhD nurses, nurse educators, nurse-anesthetists, and nurse researchers.Great nurses take what they learn in their formal education and apply it to make surprising, difficult, life-or-death decisions every day. Feel that is why nursing education has such a crucial role to play. Getting an advanced nursing degree means preparing myself for a changing world of possibility. With the right skills and knowledge, the next generation of nurses can make a bigger difference for patients, communities, and our national health care environment. I am gla d to be part of such a rewarding profession.

Human Resources JDT2 Essay

Summary: Based on recent quality testing on the toys manufactured for elementary school aged children, it has been noted that the metal whistles contain an amount of lead that is over the United States legally acceptable limit for children age 7 and under. A large shipment is packaged and scheduled to depart at the end of the week. The whistles were manufactured under our company name and at our own warehouse facility. Decision Alternatives: Alternate Process In creating the following possible decision scenarios, the well-being of this company is a massive concern to everyone when a situation such as this arises. The outcome from any decisions made not only effect the consumer of the product, but also the Toy Company, it’s employees, stakeholders, and future customers based on the reputation of the company. In order to determine the best decision, without favoritism, a decision model (7 step decision making process) has been used to guide each deciding deliberation. Therefore, understand that all possible alternatives have been researched and only the best three possible solutions have been included for review. Decision Alternatives: Alternate Advantages and Disadvantages Explain Decision Model or Process Used for Each Advantages Disadvantages Financial considerations Legal considerations Ethical considerations Contact the South American Ministry of Education 7 step decision model, shown above. Allow product receiver to make decision Contamination of company reputation. 50/50 chance of increased reproduction cost. Release of legal obligations once South American Ministry accepts product. The possible subjection of harm to innocent children is simply unethical. Reproduce Contaminated Toy 7 step decision model, shown above. Maintain higher level of satisfaction. Increased costs of reproduction, product delivery late. Approximate cost of $100,000 will be incurred. Maintained federal requirements even outside of geographical requirements. Providing safe products to all children. Ship Product As Is 7 step decision model, shown above. Lowered costs. Potential harm to innocent children Possible litigation cost if families choose to enact a class action. Possible litigation and class action suit The subjection of harm to innocent children is simply unethical. Decision Alternatives: Alternate Considerations 1. Contact the South American Ministry of Education This decision will allow for the receiver of the product to determine for themselves if in fact the shipment is not acceptable and needs replaced. Each government has developed their own criteria of quality control aspects, and should be respected in their own research and limitations of product quality. Within this decision the possibility of the cost of reproduction has a weighing chance of a 50/50 percentage based on the request of the South American Ministry of Education. Also, the informing of and accepting of the product as is will place no further legal obligations on the toy company. 2. Reproduce Contaminated Toy Within the borders of the United States of America, this is the only  acceptable decision to be made. The lead amounts found are above the legal limits and should by all considerations be destroyed and reproduced under the proper legal lead limit guidelines produced by the United States Consumer Product Safety Commission. The cost of this reproduction will fall solely on the shoulders of the company. The approximate cost to be incurred is $100,000. Also, in the making of this decision the Toy Company will be required to contact and inform the consumer of the production issue and the steps being taken to remedy the issue. The consumer may in turn be upset at the delay and remove their business from our company or may find our honesty in the situation to be respectable and assist in promoting our company due to highly ethical character display. 3. Ship Product As Is The guidelines for lead contamination are much more detailed within the United States than that of most regions. The product could easily be shipped and arrive on time for the opening of school in the South American region expected to receive the whistles. The product information would be included in the packaging, leaving the decision for a return of the product to be determined on the chance someone will notice the lead limits information. This choice could possibly rid the company of any further expenses. However, this leaves to chance the harming of many children, the legal allegations that can be brought up by the South American Ministry of Education, and the extreme tarnish of the company’s reputation within the United States and as a worldwide supplier of children’s products. During the narrowing of possible decisions to be established, a system of steps was utilized to enable a criterion for selecting the best possible outcomes. Each of the previous actions stated posse a decision between respect, ethical behavior, or financial consideration. As a whole each of these three actions must be carefully considered as a possible benefit to the company, as well as a possible strike against the reputation that has been so carefully created through producing top quality products for children all over the world. Alternative Recommendation: Recommendation Justification Of the three best available choices the superior choice would be the Reproduction of the Product. The reasoning in this decision is: Legal Aspect: Although as a company legal retaliation could be avoided if the  consumer accepted the product as is after being fully informed, the families of the children involved will still have the legal right to produce a class action claiming Product Liability on the part of the company for allowing the acceptance of the product by the South American Ministry of Education. Under Product Liability when individuals are harmed by an unsafe product, they may have a Cause of Action against the persons who designed, manufactured, sold, or furnished that product. West’s Encyclopedia of American Law, edition 2. (2008) Financial Aspect: The reproducing of the product will initially cost the company approximately $100,000. This by all considerations is a financial blow to any company; however, if you consider the alternative cost of ongoing litigation and a class action pay-out, $100,000 seems rather insufficient. Also consider the possible benefit from this loss of monies; not only will the children involved not be affected negatively by a product produce in the land of the free, but the word will quickly spread about the companies quick action plan to resolve an issue for the safety of their consumer, before being forced to do so by the courts. In addition to the consideration of time, effort, and the expense of recovery, an effective plan to recover from the loss incurred on the reproduction of the product there are a few majors concerns that will be on the front line of significance; Brand Protection: The importance of brand protection is only outweighed by the health and safety concerns of the consumer. Cost recovery is a secondary concern. (Belcastro & Alfonso, 2011) Supplier relationships. Supplier issues that may make cost recovery difficult include difficulties in tracking supplier contracts or supplier insurance documentation and preservation of supplier business relationships. (Belcastro & Alfonso, 2011) Ethical Aspect: For a moment let us look at this situation from the consumer’s side. Would we as parents want the toy company we trust to first consider our children before their personal gain? I would assume anyone would agree that a child should never be subjected to the cruelty of mass production oversight in the products that will be utilized to teach them, care for them, feed them, or protect them. As a company the media would portray any action less than replacement of the product as a grotesque  display of unethical and malice behavior. All businesses, small and large, have an ethical obligation to their consumers, first of all to provide the product purchased and then to not harm anyone-including the consumer. (Gray, 2011) Product safety is an ethical obligation to the extent that companies have a duty to provide consumers with whatever it is they pay for and products are assumed to be safe for ordinary use. (Gray, 2011) Alternative Recommendation: Recommendation Ana lysis Overall, the purpose behind any decision that focuses on an issue that requires action on the part of the company is the ethical obligation the company has, not only to the consumer of the product but also to the employee that we depend on to produce the product, the children for which the product is purchased, and the Board of decision makers for the company and the general public that will recommend our product or company to others based on previous experiences. By providing a less than optimal product, we as a company, say that it is acceptable to lessen our value when the product is for children outside of the United States; this is not an acceptable way of thinking, nor an acceptable reputation of the company and its stakeholders. Moving forward on the remanufacturing of the whistle-even though it is a costly choice-will show for the value the company holds in their customers and the general population of consumers. Displaying a behavior of ethical decision practices will develop a stronger relationship between consumer and producer. This behavior can also produce a chain reaction of ethical revisions in other company actions. In current business the dollar comes before the consumer-making a move to be above the competition will place the company above others in their guarantee to produce only the best. Alternative Recommendation: Social Responsibility The remanufacturing of the product will display this company as being of the utmost ethical level in protecting its consumers even though the consumer is not on the American soil. Placing consideration in the safety and well-being of children of all aspects of geographical location, financial status, and nationality shows American and foreign manufacturing companies that the dollars involved do not come before that of the safety of the people that depend on our moral stature as a producer of children’s toys.  By maintaining the same standards internationally as we would within the American borders, with our products we can inevitably lessen the boundaries between product and consumer all over the world. The ground floor for a decision has been laid for all involved in the determination of an appropriate action in this case. Based on the information provided here, it is desired that a decision based on the good of all mankind-both producer and consumer will be in consideratio n in the deciding of the steps to follow. The American people base much of their perception of a company on its viewpoint to the greater good to humanity; this should what is seen in the products we supply. References: Belcastro, Denny and Alfonso, Bert, October 2011, Capturing Recall Costs Measuring and Recovering the Losses Retrieved on December 27, 2013, http://www.ey.com/Publication/vwLUAssets/Capturing_Recall_Costs/$FILE/Capturing_recall_costs.pdf. Gray, JW, May 16, 2011, Moral Issues Related to Consumers, retrieved from: http://ethicalrealism.wordpress.com/2011/05/16/moral-issues-related-to-consumers/ Product Liability. (n.d.) West’s Encyclopedia of American Law, edition 2. (2008). Retrieved December 27 2013 from http://legal- dictionary.thefreedictionary.com/Product+Liability