The merger between two health care systems Research Paper

The merger between two health care systems - Research Paper Example management overlooked potential distrust from local care providers, it also did not focus on the overall inefficiencies as well as the market forces that come about during a merger. Furthermore, the new entity did not have cost-saving skills needed to keep the company a float after the merger; they combined this with poor cultural knowledge and team leadership needed to deal with losers and winners in the arrangement. Pennsylvania witnessed what could potentially be their largest health system yet in the 7th month of 1997 through the creation of Penn State Geisinger Health System. At first, the new unit now had 1342 beds, 1000 physicians, 77 outpatient clinics, 3 hospitals, 1 drug treatment facility as well as patients from about 40 counties in central Pennsylvania (Sidorov, 2003). During the formation process, the two former organizations needed to decide upon executive leadership, so they came up with a methodology for creation of a new board. They took a 50-50 split between board members from both health systems; however, Geisinger got the upper hand in this regard because its representative was the chairperson. He had the power to break ties during votes and he contributed towards a higher ratio of members from his own company; this implies that executive decisions were now skewed towards the chairperson’s former organization. Not all the aspects of the two companies were dissolved as Pen State Hershey would be retaining control of the college of Medicine that was under Hershey Medical Center. Several changes took place throughout the organization; for instance, the Health Plan under Geisinger now became a joint plan whose name accommodated the new change. This had the advantage of increasing the customer base to about a million for the HMO and expanded the geographic regions from which consumers came. The merged unit still maintained the regional demarcations that had been used by Geisinger, and only added Penn state HMC as a forth region which would

Determinism is the Incompatible with Free

Determinism is the Incompatible with Free Will Essay Free will defined in Webster’s Dictionary is the power of making free choices by outer agencies, and the ability or judgment to choose. In the Christian point of view, free will is what separates us form the animals. It is because we have free will we are able to identify what is good and bad. Free will is understood that all human beings have the ability to due what they want to do, and live there life by there own choices. But how can we know if we truly have free will, what if free will is only an illusion that the human mind has created for us. Do we really make choices in our life because we want to or because we have to? According to Holbach, free will is an illusion that the human mind has created for us. He claims that free will is caused by the environment around us and that motivates our choices in life. These motives can create wish in our mind that can effect our actions. He says that our actions are a result from our choices that we make, and every choice that we make is a result from a cause. He believes that there is no such thing as a pure choice out of free will. He thinks that our actions are made not because we want to but because we need to. These choices can be a result from past experience or motivations from time situations. To give an example a student that goes to school, you could say that the student is going to school because he wants to go, but why would a child want to go to school? The answer is simple It is because there are motives that are making the student want to go to school. These motives can be subconsciously made for the student. This example proves that to make a choice out of free will then the student must make his choice whether he wants to go to school with out any motive, but for the human mind this is an impossible decision. To succeed in life one must attend school, and to succeed in school one must study hard. This leaves the student with no choice but to attend school, so the student’s choice of going to school is not driven by his desires but rather of his motive to succeed in life, and if the student chooses not to attend school then he might be driven the choice not to attend school because he does not like studying which makes the idea of free will false. The student might decide not to go to school because in school he would have to study which he has no desire of doing and if he does go to school he is going not of free will but rather of survival for is own future. , which makes the basic idea of free choice false. In otherwise, the actions of humans are never free; they are always influenced by other sources such as for our own happiness, opinions, past, and daily experiences. Holbach says that having the option of choice does not necessarily mean that one is given free will. Hey says that choices are more like a necessary motive that has been created in front of us, just like the student that goes to school. He is driven by his own desires. Then how can someone say that he is free if his choices that he makes are decided with a reason to it. Men are guided in each step of their lives by their own driven passion, which makes all there choices calculated for a curtain outcome. All of our actions that we make in life are a result form our choices. If a man tried to kill him self what are some motives that will stop the men from killing himself. One will say that if he killed himself then he will die and that would be meaningless. In another situation let say that the men wanted to test his own God given free will and decides to kill himself, this action makes him no different from the man who does not kill himself. They are both driven with different motive that makes them result in their actions. Our actions result in our choices that we make. Every choice that is laid out for us has a motive in the beginning, and in eventually these motives turn into determinations which drives the human brain to respond in curtion ways. The result of the human mind and the illusion of free will is that the human actions are moved by the cause. If all people were able to see their motions carefully they will all discover that there fantasy of free will is only but an illusion. Even though our actions appear to be due to free will, but all actions are actually predetermined factors. They are choices in our heads that has already been made for us. This means that our lives have already been chosen for us even before we decide it. One major objection that I have from this argument is that if people don’t have free will, then that means that all people wouldn’t have any moral responsibility for there actions, but people are morally responsible for their actions. If we did not have free will then that will mean that their will be no good people in the world. If every decision was made because of our own desires then that will mean that we will choose most of the time the bad choices, because most of our desires are self centered. It is because of free will we are able to define what is good and bad. The reasons that we have motives are because they sometimes conflict between what is good and bad. It is because we have free will that we try to due the right things. Moral effort cannot exist without a motive. I believe this to be good objection against the idea that free will is only an illusion created by the mind. If all actions were a result from a cause and motive that we already know of. Then all actions should be predictable, but most actions are not predicable they have many outcomes. If motivation was the only thing that drives us to choose in our lives then their will be no point of living. It is because of the idea of free will we wake up in the morning, knowing that we don’t know what is going to happen tomorrow. The illusion of freewill talks about the possibility of a deterministic world, but determinism is such a depressing view of the world. Free will is what powers the world, creates societies, and maintains order. Maybe the illusion of free will is for the better for all mankind.

A Explanation Of Different Financial Terms Finance Essay

A Explanation Of Different Financial Terms Finance Essay The main objective of the Finance Manager is to manage funds in such a way so as to ensure their optimum utilization and their procurement in a manner that the risk, cost and control considerations are properly balanced in a given situation. To achieve the objective the Finance Manager performs the following functions in the following areas:- The need to estimate/forecast the  requirement of funds  for both the short term (working capital requirements) and the long term purpose (capital investments). Forecasting the requirements of funds involves the use of budgetary control and long-range planning Helps to decide what type of  capital structure  the company needs to have return: whether these funds would be raised: from loans/borrowings or from internal source (share capital) To raise sufficient long term funds to finance fixed assets and other long term investments and to provide for the needs of working capital Investment Decision In projects using the various capital budgeting tools like payback method, accounting rate of return, internal rate of return, net present value. Assets management policies are to be laid down regarding the various items of current assets like accounts receivable by coordinating with the sales personnel, inventory with production Dividend Decision Taking into consideration, earnings trend, share market price trend, fund requirement for future growth, cash flow situation and others. Financial negotiation Plays a very important role in carrying out negotiations with the various financial institutions, banks and public depositors for raising funds on favourable terms. Cash Management The finance manager needs to ensure the supply of adequate, timely and cheap fund  to the various parts of the organization. That there is no excessive cash idling around. Evaluating financial performance To need to constantly review the financial performance of the various units of organization generally in terms of ROI (return on investment. Such review assists management in seeing all the funds have been utilized in the various divisions and what can be done to improve it. Dealing with relevant parties in the Financial Markets Where the company is a listed entity, the need to interact with the Stock Exchange To deal with money markets and capital markets for financing or investment of idling funds To foster relationships with bankers, investors, underwriters of equity and bond issuances and other government regulatory bodies. For those who are uninformed, they tend to think the sole function of this position is that of the head of Accounts Payable and Accounts Receivable, but it goes far beyond that capacity. In fact, the finance manager is in charge of any  financing  and accounting function throughout the company. The role of this position involves that of not only financing functions such as Accounts Payable, Accounts Receivable, and Billing, but it also involves that of budget projections and working with the Chief Financial Officer to make sure that the companys funds are stable and assisting with any budget cuts that become necessary. The finance manager is the head of both the Accounts Payable and Accounts Receivable areas of the company. As such, he will be the one to set policy and direct procedures for both areas of  business. That includes hiring staff based upon need, following budget guidelines for expenses including staffing, assuring that procedures are followed by all staff members, setting reasonable quota system to assure work is completed in a timely fashion, and interacting with department supervisors on a regular basis in order to stay abreast of happenings within the department. The finance manager will also compile reports that show all of the conditions within his department including expenditures, open invoices, production standards, quality control standards, and timeliness of both payment of invoices and processing of payments. The finance manager is also responsible for the billing operation of the Accounts Receivable Department and making sure that guidelines for timely billing are followed as well. The finance manager also is the one who will work with other executives in order to develop the budget for each year. He will work with the Chief Finance Officer and Chief Executive Officer in order to develop an equitable solution for each years expenditures in both staff, office supplies, and any other needs that the company has including training, business trips, out of town meetings, and staff entertainment expenses. The finance manager has a very important position within a company, and his decisions will determine the financial stability of the company, at least within the areas that fall under his control. It is also his job to make certain that other departments and areas of the company follow their budgets and make the most use of the companys  money  by avoiding frivolous expenses. Nature of Financial Management Financial management is that part of total management which is concerned primarily with the financial affairs of an organization and the translation of actions, both past and proposed, into meaningful and relevant information for use in the management process. It includes the functions of budgeting, accounting, reporting, and the analysis and interpretation of the financial significance of past events and future plans. It sometimes also includes other related functions such as internal auditing, management analysis, and others. It is not primarily concerned with the technical procedures and methodology of those individual functions. Rather, it is characterized by the coordination and correlation of those functions into an effective and broad system of financial control that will assure that they, collectively more than individually, become an integral part of the management of the organization. Financial management involves the art of interrelating data to obtain a perspective of the total financial situation that will assist managers in program planning and decision-making. A very simple operating program may require only a minimum of financial management, and this, in some cases, can be provided by the manager himself. Financial Management is also an important field of Management Sciences. It is a combination of Managerial Finance and Corporate Finance. Managerial Finance concerns with the managerial use of financial techniques, whereas on the other hand, corporate finance deals with corporate financial decisions. In both the cases, it is extremely important for Managers in an organization. Financial Management is used to determine the best way to use the  money  available to an organization in order to improve the future opportunities to  earn  money. Thus the financial managers use techniques such as Valuation, Portfolio management, Hedging and capital structure etc for better decisions about the future of an organization. On the other hand, it is also used to interpret financial results in a given year or time period using financial analysis techniques. This helps in judging the actual performance of an organization in that time period. Financial management helps in proper allocation of costs, anticipate future expense, and budgeting for the future. Retained Earnings The accumulated net income that has been retained for reinvestment in the business rather than being paid out in dividends to stockholders. Net income that is retained in the business can be used to acquire additional income-earning assets that result in increased income in future years. Retained earnings are a part of the owners equity section of a firms balance sheet. Retained earnings also called retention ratio or retained surplus, it is the percentage of net earnings not paid out as dividends but retained by the company to be reinvested in its core business or to pay debt.  Retained earnings are one component of the corporations net worth and increase the supply of cash thats available for acquisitions, repurchase of outstanding shares, or other expenditures the board of directors authorizes. It is recorded under shareholders equity on the balance sheet. It is calculated by adding net income to or subtracting any net losses from beginning retained earnings and subtracting any dividends paid to shareholders, as shown here: Smaller and faster-growing companies tend to have a high ratio of retained earnings to fuel research and development plus new product expansion. Mature firms, on the other hand, tend to pay out a higher percentage of their profits as dividends. In most cases, companies retain their earnings to invest them in areas where the company can create growth opportunities, such as buying new machinery or spending the money on research and development. If a net loss is greater than beginning retained earnings, retained earnings can become negative, creating a deficit. Debenture A debenture is a debt instrument, which is not backed by collaterals. Debentures are backed by the creditworthiness and reputation of the debenture issuer. Besides, a debenture is a long-term debt instrument issued by governments and big institutions for the purpose of raising funds. The debenture has some similarities with bonds but the terms and conditions of securitization of debentures are different from that of a bond. A debenture is regarded as an unsecured investment because there are no pledges (guarantee) or liens available on particular assets. Nonetheless, a debenture is backed by all the assets which have not been pledged otherwise. Normally, debentures are referred to as freely negotiable debt instruments. The debenture holder functions as a lender to the issuer of the debenture. In return, a specific rate of interest is paid to the debenture holder by the debenture issuer similar to the case of a loan. In practice, the differentiation between a debenture and a bond is not observed everytime. In some cases, bonds are also termed as debentures and vice-versa. If a bankruptcy occurs, debenture holders are treated as general creditors. The debenture issuer has a substantial advantage from issuing a debenture because the particular assets are kept without any encumbrances so that the option is open for issuing them in future for financing purposes. Usually, debentures are categorized into the following types and their definitions are also given below: Convertible Debenture:  Convertible bonds  or bonds that can be converted into equity shares of the issuing company after a predetermined period of time. Convertibility is a feature that corporations may add to the bonds they issue to make them more attractive to buyers. In other words, it is a special feature that a corporate bond may carry. As a result of the advantage a buyer gets from the ability to convert; convertible bonds typically have lower interest rates than non-convertible corporate bonds. Non-convertible debenture: Simply regular  debenture cannot be converted into equity shares of the liable company. They are debentures without the convertibility feature attached to them. As a result, they usually carry higher interest rates than their convertible counterparts. Corporate Debenture:   Debentures issued by companies and they are insecure in nature. Bank Debenture:  This type of debentures is issued by banks. Government Debenture:  This includes Treasury Bond (T-Bond) and Treasury Bill (T-Bill) issued by the government. They are usually regarded as risk-free investments. Subordinated Debenture:  This is a particular type of debenture, which ranks below regular debentures, senior debt, and in some instances below specific general creditors. Corporation Debenture:  Corporation debentures are issued by various corporations. Exchangeable Debenture:  They are like convertible debentures, but this debenture can only be converted to the common stock of a subsidiary company or affiliated company of the debenture issuer. Seed Capital Seed capital means the initial capital used to start a business.  Seed capital often comes from the company founders personal assets or from friends and family.  The amount of money is usually relatively small because the business  is still in the idea or conceptual stage.  Such a  venture  is generally  at a pre-revenue stage and  seed capital is needed for  research development, to cover initial operating expenses  until a product or service can start generating  revenue, and to attract the attention of venture capitalists. Seed capital is needed to get most businesses off the ground. It  is considered a high-risk investment, but one that can reap major rewards if the company becomes a growth enterprise. This type of funding is often obtained in exchange for an equity stake in the enterprise, although with less formal contractual overhead than standard equity financing. Banks and venture capital investors view seed capital as an at risk investment by the promoters of a new venture, which represents a meaningful and tangible commitment on their part to making the business a success. Frequently,  capital providers  will  want to wait until a business is a little more mature before making the larger investments that typify the early stage financing of venture capital funding. Seed capital in other words can be said as money used as the initial investment for a new product or service launch. Seed capital enables businesses to launch a new product or service without depending fully on a business loan. The funds for this form of financing are typically provided by private investors who are looking for a high return on their investment of at least 30 percent. The investors look to invest in an industry with a market of at least $1 billion, and they also want an industry with few competitors for the business. Businesses that typically obtain seed capital are young companies around one year of age that have not produced a product or service for commercial sale yet. The companies are so new, so it can be difficult to obtain a regular commercial loan that is sufficient for covering all of the related start up expenses. Cash Credit and Overdraft Cash credit  is  a short-term cash loan to a company.  A bank provides this type of funding, but  only after the required security is given to secure the loan. Once a security for repayment has been given, the business  that receives the loan can continuously draw from the bank up to a certain specified amount. This type of financing is similar to a line of credit. Furthermore, cash credit is a facility to withdraw the amount from the business account even though the account may not have enough credit balance. The limit of the amount that can be withdrawn is sanctioned by the bank based on the business cycle of the client and the working capital gap and the drawing power of the client. This drawing power is determined, based on the stock and book debts statements submitted by the borrower at monthly intervals against the security by hypothecating of stock of commodities and/ or book debts. The excess withdrawal of cash is made generally on demand from the customer and the customer has to pay interest on the excess amount he/she has withdrawn. The cash credit facility is quite useful to those businesses where cash payment like wages, transportation, cash purchases are to be made and the receivables are not realized in time. An overdraft facility is a formal arrangement with a bank which allows an account holder to draw on funds in excess of the amount on deposit. Overdraft facility financing is most commonly used by businesses as a way of making their  working capital  more flexible, although it can also be available to individuals. Banks which offer this service typically have a number of expectations from customers who use it, and it is important to be aware of these expectations before entering an overdraft facility agreement. The idea behind overdraft facility agreements is that sometimes one needs a bit more money than is available on deposit to deal with various expenses. For example, a business which is always slow in March and April might like to use its overdraft facility to make  payroll  and keep current with all accounts and creditors. Or, a business might need to make a big one-time expense which exceeds the funds on deposit. With an overdraft facility, people can repay the funds at their convenience. The bank may charge an overdraft fee for accessing the overdraft facility, and the  interest rate  can be higher than that for other types of loans. The bank also has the right to demand repayment in full. Balancing an overdraft facility wisely can free up capital and make people more stable financially, but unwise use can lead people into a spiral of debt which may be difficult to escape. The amount of an overdraft facility is also curbed; people are not allowed to continually take money out and not repay it. The amount of the overdraft is usually pegged to account history and financial information, with the goal of ensuring that people do not end up borrowing more than they can realistically repay through an overdraft facility. The agreed limit can be negotiated with the bank, and some banks are willing to reevaluate if customers feel that their circumstances have changed. Similar to personal overdraft facilities, a business overdraft is a prearranged spending limit with your bank. Many businesses find an overdraft useful for those times when cash flow is a problem for a short period of time. Overdrafts are not a good option for funding larger needs, such as capital or expansion expenses. For these needs it is less expensive to obtain a separate business loan. Business overdrafts  may also be subject to more fees than a personal overdraft. Examples include fees to open the overdraft, to renew the overdraft, or sometimes even a fee for not using the overdraft. When used judiciously, overdraft facilities can be a great help in managing the occasional financial shortfall. Commercial Paper Commercial paper is a form of financing that consists of short-term, unsecured promissory notes issued by firms with a high credit standing. Generally, only large firms of unquestionable financial soundness are able to issue commercial paper. Most commercial paper issues have maturities ranging from 3 to 270 days. Although there is no set denomination, such financing is generally issued in multiples of $100,000 or more. A large portion of the commercial paper today is issued by finance companies; manufacturing firms account for a smaller portion of this type of financing. Businesses often purchase commercial paper, which they hold as marketable securities, to provide an interest-earning reserve of liquidity. Commercial paper is sold at a discount from its par, or face, value. The size of the discount and the length of the time to maturity determine the interest paid by the issuer of commercial paper. The actual interest earned by the purchaser is determined by certain calculations. Commercial paper is not  usually backed by any form of collateral, so only firms with high-quality debt ratings will easily find buyers without having to offer  a substantial discount (higher cost) for  the debt issue. For the most part, commercial paper is a very safe investment because the financial situation of a company can easily be predicted over a few months. Furthermore, typically only companies with high  credit ratings  and credit worthiness issue commercial paper. Over the past 40 years, there have only been a handful of cases where corporations have defaulted  on their commercial paper repayment. There are two methods of issuing paper. The issuer can market the securities directly to a  buy and hold  investor such as most money market funds. Alternatively, it can sell the paper to a dealer, who then sells the paper in the market. The dealer market for commercial paper involves large  securities  firms and subsidiaries of  bank  holding companies. Most of these firms also are dealers in  US Treasury securities. Direct issuers of commercial paper usually are financial companies that have frequent and sizable borrowing needs and find it more economical to sell paper without the use of an intermediary. In the United States, direct issuers save a dealer fee of approximately 5 basis points, or 0.05% annualized, which translates to $50,000 on every $100 million outstanding. This saving compensates for the cost of maintaining a permanent sales staff to market the paper. Dealer fees tend to be lower outside the United States. Bridge Finance Bridge financing  is a method of  financing, used to maintain  liquidity  while waiting for an anticipated and reasonably expected  inflow of cash. Bridge financing is commonly used when the cash flow from a sale of an asset is expected after the cash outlay for the purchase of an  asset. For example, when selling a  house, the owner may not receive the cash for 90 days, but has already purchased a new home and must pay for it in 30 days. Bridge financing covers the 60 day gap in cash flows. Another type of bridge financing is used by companies before their  initial public offering, to obtain necessary cash for the maintenance of operations. These funds are usually supplied by the  investment bank  underwriting  the new issue. As payment, the company acquiring the bridge financing will give a number of  stocks  at a  discount  of the issue price to the underwriters that equally offset the loan. This financing is, in essence, a forwarded payment for the future sales of the new issue. Bridge financing may also be provided by  banks  underwriting  an offering of  bonds. If the banks are unsuccessful in selling a companys bonds to qualified institutional buyers, they are typically required to buy the bonds from the issuing company themselves, on terms much less favourable than if they had been successful in finding institutional buyers and acting as pure intermediaries. There are 2 types of bridging finance which are closed bridging and open bridging. Closed bridging finance is where there is a date for the exit of the bridging finance and is sure that the bridging finance can be repaid on that date. This is less risky for the lender and thus the interest rate charged is lower. Open bridging is higher risk for the lender. This is where the borrower does not have an exact date for the bridging finance exit and may be looking for a buyer of the property or land. Capital Market A capital market is a market where both government and companies raise long term funds to trade securities on the bond and the stock market. It consists of both the primary market where new issues are distributed among investors, and the secondary markets where already existent securities are traded.  In the capital market, mortgages, bonds, equities and other such investment funds are traded. The capital market also facilitates the procedure whereby investors with excess funds can channel them to investors in deficit. The capital market provides both overnight and long term funds and uses financial instruments with long maturity periods. The financial instruments are traded in this market such as foreign exchange instruments, equity instruments, insurance instruments, credit market instruments, derivative instruments, and hybrid instruments. The primary role of the capital market is to raise long-term funds for governments, banks, and corporations while providing a platform for the trading of securities.  This fundraising is regulated by the performance of the stock and bond markets within the capital market. The member organizations of the capital market may issue stocks and bonds in order to raise funds. Investors can then invest in the capital market by purchasing those stocks and bonds.  The capital market, however, is not without risk. It is important for investors to understand market trends before fully investing in the capital market. To that end, there are various market indices available to investors that reflect the present performance of the market. Every capital market in the world is monitored by financial regulators and their respective governance organization. The purpose of such regulation is to protect investors from fraud and deception. Financial regulatory bodies are also charged with minimizing financial losses, issuing licenses to financial service providers, and enforcing applicable laws.   Capital market investment is no longer confined to the boundaries of a single nation. Todays corporations and individuals are able, under some regulation, to invest in the capital market of any country in the world. Investment in foreign capital markets has caused substantial enhancement to the business of international trade.   The capital market is also dependent on two sub-markets the primary market and the secondary market. The primary market deals with newly issued securities and is responsible for generating new long-term capital. The secondary market handles the trading of previously-issued securities, and must remain highly liquid in nature because most of the securities are sold by investors. A capital market with high liquidity and high transparency is predicated upon a secondary market with the same qualities. Money Market The  money market  is a component of the  financial markets  for assets involved in short-term borrowing and lending with original maturities of one year or shorter time frames. Trading in the money markets involves  Treasury bills,  commercial paper,  bankers acceptances, certificates of deposit, federal funds, and short-lived  mortgage-backed and  asset-backed securities.  It provides  liquidity  funding for the  global financial system. The money market consists of  financial institutions  and dealers in money or credit who wish to either borrow or lend. Participants borrow and lend for short periods of time, typically up to thirteen months. Money market trades in short-term  financial instruments  commonly called paper. This contrasts with the  capital market  for longer-term funding, which is supplied by bonds  and  equity. The core of the money market consists of banks borrowing and lending to each other, using  commercial paper,  r epurchase agreements  and similar instruments. The money market is a subsection of the  fixed income  market. We generally think of the term fixed income as being synonymous  to  bonds. In reality, a bond is just one type of fixed income security. The difference between the money market and the bond market is that the money market specializes in very short-term debt securities (debt that  matures in less than one year). Money market investments are also called cash investments because of their short maturities. Money market securities are essentially IOUs issued by governments, financial institutions and large corporations. These instruments are very  liquid  and considered extraordinarily safe. Because they are extremely conservative, money market securities offer significantly lower returns than most other securities.   One of the main differences between the money market and the stock market is that most money market securities trade in  very high denominations. This limits access  for the individual investor. Furthermore, the money market is a dealer market, which means that firms buy and sell securities in their own accounts, at their own risk. Compare this to the stock market where a broker receives commission to acts as an agent, while the investor takes the risk of holding the stock. Another characteristic of a dealer market is the lack of a central trading floor or  exchange. Deals are transacted over the phone or through electronic systems.   Venture Capital Funds Venture capital  (also known as  VC  or  Venture) is a type of  private equity  capital typically provided for early-stage, high-potential,  growth  companies in the interest of generating a return through an eventual realization event such as an  IPO  or  trade sale  of the company. Venture capital investments are generally made as cash in exchange for shares in the invested company. It is typical for venture capital investors to identify and back companies in high technology industries such as biotechnology and ICT (information and communication technology). A  venture capital fund  refers to a  pooled investment  vehicle that primarily invests the  financial capital  of third-party investors in enterprises that are too risky for the standard  capital markets  or  bank loans. Venture capital funds mean an investment fund that manages money from investors seeking private equity stakes in startup and  small- and medium-size enterprises with strong growth potential. These investments are generally characterized as high-risk/high-return opportunities. Theoretically, venture capital funds give individual investors the ability to get in early at a companys startup stage or  in special situations  in which there is  opportunity for explosive growth. In the past,  venture capital investments were only accessible to professional venture capitalists. While a fund structure diversifies risk, these funds are inherently  risky. Most  venture capital funds  have a fixed life of 10 years, with the possibility of a few years of extensions to allow for private companies still seeking liquidity. The investing cycle for most funds is generally three to five years, after which the focus is managing and making follow-on investments in an existing portfolio. This model was pioneered by successful funds in  Silicon Valley  through the 1980s to invest in technological trends broadly but only during their period of ascendance, and to cut exposure to management and marketing risks of any individual firm or its product. In such a fund, the investors have a fixed commitment to the fund that is initially unfunded and subsequently called down by the venture capital fund over time as the fund makes its investments. There are substantial penalties for a Limited Partner (or investor) that fails to participate in a capital call. It can take anywhere from a month or so to several years for venture capitalists to raise money from limited partners for their fund. At the time when all of the money has been raised, the fund is said to be closed and the 10 year lifetime begins. Some funds have partial closes when one half (or some other amount) of the fund has been raised. Vintage year generally refers to the year in which the fund was closed and may serve as a means to stratify VC funds for comparison. This  free database of venture capital funds  shows the difference between a venture capital fund management company and the venture capital funds managed by them. Present Value Present value means the  current worth  of a future sum of money  or stream of cash flows  given a specified rate of return. Future cash flows are discounted at the discount rate, and the higher the discount rate, the lower the present value of the future cash flows.  Determining the appropriate discount rate is the key to properly valuing future cash flows, whether they are earnings or obligations. The calculation of discounted or present value is extremely important in many financial calculations.  For example, net present value, bond yields, spot rates, and pension obligations all rely on the principle of discounted or present value.   If offered a choice between $100 today or $100 in one year  ceteris paribus, a rational person will choose $100 today. This assumes a positive interest rate for the time period. This is described by economists as Time Preference. Time Preference can be measured by auctioning off a risk free security like a US Treasury bill. If a $100 note, payable in one year, sells for $80, then the present value of $100 one year in the future is $80. This is because you ca

DuBois and Black Nationalism Essay -- essays research papers

DuBois and Black Nationalism The Epigraph:  Ã‚  Ã‚  Ã‚  Ã‚   â€Å"The colored people are coming to face the fact quite calmly that most white Americans do not like them, and are planning neither for their survival, nor their definite future†   Ã‚  Ã‚  Ã‚  Ã‚  W.E.B. DuBois â€Å"A Negro Nation within the Nation† The Premise:  Ã‚  Ã‚  Ã‚  Ã‚   Black Nationalism is a pragmatic solution for the success and survival of the oppressed African Americans. The Argument: Black Nationalism is defined by Karenga, as the political belief and practice of African Americans as a distinct people with a distinct historical personality who politically should develop structures to define, defend, and develop the interests of Blacks as a people. Black Nationalism can be traced back to the 18th century, back to William Edward Burghardt DuBois, the most prominent black intellectual of all time. Black Nationalism is the response of African Americans to the continual racism and oppression they experience. It came about because of two reasons; the racism that they faced daily, and being exploited economically by white supremacy. Black Nationalism seeks a solution to the problems that African Americans face on a daily basis. After the Civil War, the situation of the black people was not good; it was a semi-free, semi-slave situation. An example of this is tenancy, where the Blacks have control of the work process and work schedule but ultimately had to give up the fruits...

Healthcare & Education

What are some of the barriers and limitations to the transition from one level of care to another? Successful transition of patients from one care level to another is normal and of great importance. Patients who receive good aftercare after inpatient treatment come out much stronger and with low rates of readmission. However in many cases this is not the case hence posing the patients to health risk.Some of the barriers and limits to these transitions include financial constrains, low levels of knowledge and lack of adequate advice to the patients by the health professionals.Ignorance on the side of the people or the professionals also plays a big role. Education and creation of awareness to the general public on the importance of this transition is paramount in that it reduces the risks involved at the various levels (Holloway, 2008). Lack of a clear policy on ways to improve care such as transition care support and voluntary sharing of information on the issue is big obstacle to su ccessful care transition. For elderly, care transitions can usually lead to medication related complications and significantly reduced life span or quality.These calls for devoted efforts by the relevant parties to develop and put in place the necessary tools and initiatives to ensure improved transition. It should be noted that the impact of human error in medicine is unclear since the risk in the health care are based on the disease itself, the desired medicine and the way of medication (Holloway, 2008). This means that transition with medication to be administered without clear guideline may create a bigger problem. The transition problems call for well structured aftercare sessions to refer patients to.Since the human health is always at risk, it is important to ensure that patients actively engage in any prescribed treatment. This include making sure they are entered into the right level of treatment and equipped with the necessary information useful during treatment to ensure motivation and hence avoid relapse. Successful transition to care is the first step towards good health and should always be emphasized. Reference Holloway, D. , (2008). Transitions from one Level of Care to Another. Retrieved on 30th July 2009 from, http://cnx. org/content/m12716/latest/

Naturebros

Q1. Summarize the information presented regarding the present and proposed products. Briefly describe the company’s 2004 and 2005 objectives. Ans. Dale Morris, being a cooking enthusiast, created a new season mix in 1993 which was based on a nutritive yeast extract and used a considerable amount of lesser salt than other seasonal mixes. This mix being very popular among family and close friends, he decided to ‘test market’ his product via a charity event and once successful, he saw an opportunity of a new saleable product. His vision however was stalled till 2002 due to lack of startup capital. Eventually, he raised enough money (a total of $65,000) by selling 15 percent each of his stock to his mother and two work colleagues to lease machinery and setup a small production facility and bring his product to grocery stores by August of 2002. The product was an instant hit among customers. Having a sales background himself, Morris had no problems in coming up with ways to promote his product. His tasting demonstrations, similar to what he held for family and friends were a hit and attracted enough sales in seven states and to consider expanding the product line and make inroads to markets in more states as well. In order to expand however, Morris needed more capital. Not only was the market to be expanded, two new products had to be launched as well. This meant additional expenses in product development, production, advertising and distribution. The present product, although a low salt seasoning, does not cater to the salt free market. Thus a salt free variant is to be developed along with an MSG based flavor enhancer. The company’s 2004 objectives are to stabilize its current markets in terms of sales and distribution and to achieve a 5 percent market share in the category of seasoned salt, a 10 percent market share in salt substitutes and a 5 percent market share in MSG based flavor enhancers. Strategy for 2004 concentrates more on existing markets. Although a 10 percent market share in the salt free category seems a bit optimistic, it is possible due to the lack of competitors in this market segment. For 2005, the company plans to expand to eight new markets namely Los Angeles, Phoenix, Sacramento, Salt Lake City, Seattle, San Francisco, Spokane and Portland. These new markets make up 17.1 percent of total grocery sales and thus are an attractive market to tap into. Like 2004, here too 5 percent shares for the salt based seasoning, 10 percent for the salt free version and 5 percent market share for the MSG based enhancer are objectified. The methods to be used will range from aggressive advertising to tapping into the more health conscious West Coast psyche. Price advantages will further help realize these aims for both existing and new markets. All this will be done due to the fact that the company is currently in the market expansion process and has to make unique selling propositions in order to capture a larger share of the market. Q2. After reviewing this material, make a list of additional information which should be supplied to support the sales projections. Ans. The sales forecasts seem to be well worked upon but that isn’t the case. The biggest blunder is that percentage aims for each new market and existing market have not be clearly specified. Only totals have been given for existing and new markets and new ones with the aims at 5 or 10 percent (as per product) being calculated based on the overall totals of each market. Since the existing markets have to be stabilized and expanded, there should e more specific information regarding each individual state in terms of market and percentage to be achieved in dollar amounts. Same should be the case for new markets as well. The second problem with these forecasts is that although the company has outlined its financial and percentage aims in each of these markets, no specifications whatsoever have been given as to the volume and price of the product being sold there. This is essential because Nature Bros. will have to decide what packages and what volume of sales they plan on distributing in these areas. Thus sales have to be given not only in dollar amounts but in amount of units and weight per package as well. Thirdly, the price set for each package should also be included in order to calculate how Nature Bros. will capture the market. A proper product into price figure is needed here rather than the existing dollar amounts. Q3. Comment on objectives: Are they reasonable, optimistic, or conservative? What marketing mix would best support this growth rate? Ans. The objectives seem to be reasonable for the current markets but are a bit too optimistic for new markets. The main reason for this is that the current markets are aware of their products. They just need to keep enhancing their advertisement efforts in order to capture a larger market share. New products too will be welcomed more openly. New markets always show resistance to new entrants. Secondly, local home grounds are always easier to work in; it’s the new markets that always create problems especially due to the startup inertia faced by products. In order to achieve these objectives, Nature Bros. will have to go big in these new markets. They will ahev to concentrate a lot on achieving the right marketing mix so as not to expend too much and still achieve their objectives:  §Ã‚   Promotion: promotional campaign launched by Nature Bros. have so far been successful in most cases. Form personal friends to tasting stalls, Morris has done well so far in achieving fame for his product. The new products however might need that extra push. First of all, they should go for more branding of the products. Customers might confuse the positioning of the existing product and leave it and the salt free version might eat away into the original products sales. Since Nature Bros. have thus far marketed their existing product as healthy and low salt, a salt less substitute will only shed bad light on the existing seasoning mix. Thus Nature Bros. should start repositioning its existing brand and use the same in new markets. Quality should be strictly controlled and maintained at all costs.  §Ã‚   Price: the pricing strategy as outlined in the plans seems to be fine for this product. One aspect that Nature Bros. have neglected however is the price demand elasticity of their product. They should test this strategy in their existing markets and see if they are in a position to charge premiums at this stage or not. This will give a fair idea as to for how long they will have to sell their products at reduced prices (how long it takes to achieve customer loyalty) and how sensitive the customers are in terms of price changes. If a little drop in price means a considerable increase in sales then Nature Bros. can achieve their target market shares without 3040 percent price cuts as they currently plan to. On the other hand if this is not the case and customers are not too elastic, then not only discounts but extra promotion will also have to be done and this would mean leaner profit margins with additional promotion costs.  §Ã‚   Promotion: the promotion strategy is fine and tested in the existing markets. Their decision to advertise in cooking magazines is a good one as well. One additional aspect however would be to properly launch their product and activate their brand through a certain event or fair. A proper launch and enough publicity can do wonders for a product in any given case. The church sale was the most successful for Morris and made him realize that a marketable product is at hand. Similarly, if ature Bros. were to contact other organizations such as churches or TV shows to use their product, this would result in a lot of publicity. This along with a few interviews to newspapers and leading cooking magazines will help a lot in creating enough hype and launching the product.  §Ã‚   Distribution: this is probably the weakest link in the whole plan. There seem to be no formal plans nor strategies regarding the actual distribution of the product. Being a young company, Nature Bros. will have to carefully assess which distribution strategies are cheapest and yet most effective. Although all products will be sold at grocery stores, Nature Bros. can decide whether it will be supplying directly to these stores or use the services of a third party in the form of a distribution intermediary. More intermediaries however mean higher product selling prices and this could result in Nature Bros. not effectively achieving their pricing strategy in the new markets and thus eventually losing market share. Q4. Evaluate the information supplied regarding a new product development and physical assets in light of the pro forma income statements Morris developed. Ans. The case shows that new product development and physical assets are going to be beneficial in nature, primarily due to the reason that the cost of goods sold as projected by the pro forma sheet show a decline over the years. Additionally, sales increase over the years. The new product if developed can help in terms of profits eventually, since profits automatically increase with the decrease in cost of goods sold and increase in sales over the years projected. Apart from operational expenses though, research and development expenses, and depreciation expenses of physical assets would increase causing an increase in the total cost incurred by the organization apart from the cost of goods sold. Q5. Is the capital sought appropriate for the circumstances? If more information is needed, state what it is and how it could be obtained. Ans. The capital sought is not appropriate mainly due to two reasons. The objectives outlined in terms of market shares are too optimistic in some cases. If Nature Bros. seriously intends to achieve these objectives   then they might have to expend a lot more in promotion and also further lower their prices. Secondly although promotion expenses are stated, not much has been said about other below the lien activities. It is rare that the cost of BTL activities are easily anticipated and put on paper for budgeting purposes. The second reason is that no mention has been made of distribution channels and strategies. This whether they decide to own the channel themselves or employ third parties, in both cases additional expenses will most certainly entail. Lastly, every firm always keeps a certain excessive amount of capital for emergencies. Since these are projections, Nature Bros. will most certainly have to attain a little more extra capital and retain it for unpredictable circumstances. Q6. What sources should Morris approach for this amount of capital? Ans. The product has done well in the past few years. A proper business plan and more professional projections can easily help Morris market his idea to banks as well as more serious venture capitalists in a very effective manner. The best option would be to borrow from a financial institution as opposed to selling off more equity to individuals. This is so because selling off equity might result in loss of ownership and decision power and at this stage conflicts among partners is something Nature Bros. should not risk. The ownership once diluted would result in actually loss of control, and decision making power would be vested in the hands of the shareholders. Apart from this, Nature Bros. has become too big to rely solely on funds borrowed from family and friends and is not big enough to go public as yet. Thus the best options would be to find capital form either banks at a fixed interest rate or angel investors who are interested and more patient than other categories of venture capitalists. These investors are interested in returns but rarely intervene in the management aspect of the business and are more accommodating as well. This source of funding or capital would help in reducing the amount of taxes that the company would have to pay, and additionally, fewer amounts would have to be given out to the shareholders as dividend. Thus any source which costs below the going interest rate and doesn’t result in selling of equity would be suitable for Nature Bros. Q7. Based on the current balance sheet, how much equity should he give up for the investment? The current balance sheet of the company shows several things. One of the basic aspects is the amount of assets that the company holds at this point in time. The total assets are about sixty seven thousand, and corresponding to that, the total liabilities are about fifty eight thousand. This shows that the company can cover its liabilities through the assets that it currently holds. On the other hand, the equity that the company has at this point in time is about nine thousand. A lot of potential in terms of equity investment is seen here since the company can not only withhold the amount of liabilities but also has enough to cater to the shareholders as well in terms of its liquid assets. In this case, about half of the liabilities amount can be given up for the investment and still be able to keep a significant amount of money in the liability section. The ball park figure is assumed in order to create a fifty-fifty balance between the liabilities and the equity side. The ideology is that the amount of figure noted would be able to create enough equity in the organization that would not jeopardize reporting and decision making in the company, and yet, be enough that it balances out the loans taken from banks and other individuals and institutions. References: Hisrich, R., Peters, P., & Shepard, D. (2008). Entrepreneurship. 7th Edition. Irwin: McGraw-Hill. Entrpreneur.com (n.d.). Retrieved February 17, 2007, from http://www.entrepreneur.com/bizstartups/index.html U.S. Small Business Administration (n.d.). Retrieved February 17, 2007, from http://www.sba.gov/smallbusinessplanner/index.html   

Son of the Revolution essays

Son of the Revolution essays The struggles that Liang Heng went through in the story Son of the Revolution during the reign of Mao are an incredible story of loyalty towards political Party versus family. You can slowly see how Liang Hengs absolute loyalty towards Socialism is slowly swayed through personal trauma and strife as he slowly starts to disregard what the Party says and puts him and his family first. During the time of the Hundred Flowers Campaign, the party urged the masses to speak out and criticize the Partys shortcomings. Liang Hengs mother was originally skeptical about speaking out but after the urging of her superiors, she decided to speak out to please the Party. She said that her Section Head sometimes used crude language and liked to criticize people, that he should give his housekeeper a bed to sleep on instead of making her sleep on the floor, and that sometimes when it came time to give raises, the leaders didnt lead to the masses opinion (page 8). The Hundred Flower Movement then suddenly switched to the Anti-Rightist Movement in which every unit was given quota to find a certain number of rightists to meet and Liang Hengs mother name was a part of her unit quota, she later found out this label was attached to her because of what she had written in The Hundred Flower Campaign. She was sent away for labor reform which was the first division of his family. This incident not on labeled Lings mother as a rightist but his entire family. Liang Hengs father a firm Party supporter did not believe the Party could be wrong and divorced his wife and forbid his children to see their mother to try and distance themselves from her as much as possible, and clear the family name, as soon as his mother was reformed his parents divorced. Although the family cut off their ties with their mother Liang Heng and his family were permanently labeled as having a rightist mother. Two years later hi...

buy custom MTV Networks Case essay

buy custom MTV Networks Case essay 1. What strategy did MTV pursue when it initially started to expand internationally? What assumptions were managers at MTV making about foreign markets at the time? MTV had started to expand internationally back in 1987. During its initial expansion to international market, its strategy was to pursue European market by piping single feeds across Europe (Rugman, 2001). The feeds solely consisted of American programming with English-speaking hosts. At the time, managers at MTV assumed that their strategy would make European viewers flock the channel. Unfortunately, their strategy was not successful (Hill Jones, 2009). The failure was attributed to the fact that European viewers shared similar interest with the American viewers; they had a taste in local programming. As such, the Eropean viewers wanted music from specific scenes from specific countries. 2. Why strategy does MTV pursue today? What are the benefits of this strategy? What are the costs? Since 1995, MTV has changed its strategy of expanding into international markets. The channel has opted to target local programming ensuring that it meets specific needs of viewers at local level. For instance, in order to make the localization successful, the company provides regional feeds (Douglas Craig, 2005). Europe is broken into twenty five feeds and Asia into ten feeds that target specific local taste of the viewers. This strategy has benefited the company in various ways. For example, evolution of digital and satellite has rendered local programming easy and cheap (Hill, 2006). MTV is now able to bbeam several feeds of a single satellite transponder. Moreover, the strategy has ensured that the network captures its viewers back from local imitators. This has made MTV increase its ratings enabling it to capture significant advertising revenues from other multinational like Coca-Cola. 3. What must MTV do, in terms of its management and organization, to implement its current strategy? In order fro MTV to implement its current strategy on diverse brand base, it must conduct a survey that would ensure that the company understands specific needs of all of its brands, divisions, and businesses (Barnard, 2007). It must invest in processes that works in every business functions while at same time allows for flexibility based on strategy, structure and available resources. Buy custom MTV Networks Case essay

Admissions Essay Essay Example for Free

Admissions Essay Essay Essay Topic: University , Admissions Choose cite format: APA MLA Harvard Chicago ASA IEEE AMA Haven't found the essay you want? Get your custom sample essay for only $13.90/page ? The realization that education is a critical component of my professional and personal success has been a gradual realization for me. However, I believe that with my current conviction about the importance of education, I will be able to achieve great success in Central Washington University’s MBA program. As a teenager I did not always understand the importance of education in regard to my professional and personal development. During my high school years and early college years, I cared more about sports and hanging out with my friends, than getting good grades. As a result, my grades suffered and I did not benefit as much from my classes as I could have when I was younger. Throughout these years, my Dad encouraged me and tried to motivate me to put more effort into my studies. It was through his positive encouragement and an accounting class that I took with Ms. Smith that finally changed my entire outlook on education. Not only did Ms. Smith pull me aside and tell me that I was not working up to my potential, but she made me see that what we were studying really mattered to my life. I realized that if I was going to be successful in life I would have to apply myself and master the material I was learning in my classes. Since I came to this realization, I have been working harder in all of my classes to become more knowledgeable and educated person. Currently I am working to ensure my academic success by working hard in my classes and preparing to get a masters degree in business administration. I now put my classes as top priority in my life and also use my free time to better myself as well. As a younger kid I gave very little thought to what I did in my free time, and thus spent the majority of my free time playing video games and hanging out with friends. However, as I have come to my realization that education and knowledge are critical to my personal and professional success, I now prefer to read books and other publications about all sorts of topics to develop my understanding of the world I live in. Furthermore, I have taken a variety of math and business classes as an undergraduate student to better prepare myself for my career goals. To ensures my success in these classes, I have consistently taken advantage of professors’ office hours and tutoring sessions whenever I need extra help in a certain area. My primary goal is to get a Masters Degree in business administration in order to gain the knowledge and experience I need to start my own business. I am extremely eager to learn as much as possible about succeeding in the business world, and I believe that Central Washington University will feed my thirst for knowledge with quality classes and knowledgeable professors. I hope that this program will help me accomplish my goals by teaching me the leadership skills, strategic planning skills, as well as the general knowledge I would need to be successful businessman. I also believe that both the students and faculty at CWU will be people I can relate to and learn from. I have also heard that this specific program at CWU strives to give its students as much hands-on experience as possible to better prepare them for the real-world. This educational philosophy is aligned with my needs as a student, and it will help me to turn my ambitions into a reality. I believe that the combination of hands-on-experience, motivated peers, newfound skills will help me to achieve my lofty goals once I finish this program. Admissions Essay. (2016, Aug 15).

Ethical Self-Assessment Essay Example | Topics and Well Written Essays - 750 words

Ethical Self-Assessment - Essay Example I realized that every decision I made in the workplace and even in my private life has an ethical aspect to it and failing to address this can lead to unethical actions. I also realised that every action and decision taken will affect both me and at least another individual in a certain way. In this regard, when making decisions, it is necessary to know when to act in which way and how this will affect the other person; this is especially so with regard to the patients I deal with and the people I work with. The ACHE standards are important in guiding my professional ethical conduct as they act as a guidelines as well as a reminder of the importance of ethical behaviour and ethical conduct. The ACHE standards are important in reminding me how important it is for a professional in my career to be able look at the ways in which my actions affect the other people. ACHE standards are geared towards affecting the way people think about their actions with regard to other people. As an indi vidual, ACHE standards have made me to rethink the way I do things and the way I look at issues. They have reminded me that in making decisions, I should be able to think about the other person and not just how the decision will be beneficial to me. My individual ethics determines how I make decisions and how I act in all times. Regardless of the ACHE standards, I am an honest person and I believe in fairness. In this regard, I always look for fairness when making decisions and when acting in certain ways. This helps me to make the right decisions and to be able to consider how my decisions will affect other people. However, there are those instances where I may drop my guard and may not essentially act in the ethical way. One example of such a time is when dealing with other people’s actions. ACHE standards have made me to realise that ethical conduct is not just limited to my actions, but rather that it also has to do with how I deal with other people’s actions. In t his regard, if a colleague acts in an unethical way, it is my ethical responsibility to correct them and to make sure that such unethical actions are not tolerated. Acting in an ethical manner can be a big challenge due to a number of issues. One main issue has to do with the fact that one may not know when he or she is acting in an unethical way. In this regard, one of the strategies which I will use in order to help myself to act in an ethical manner in the future is by learning as much as possible about ethical issues. For instance, studying the ACHE standards can help me to identify the many situations in which I should be alert ethically. As described above, being able to correct the actions of others when they are unethical is part of ethical behaviour and failing to do so is unethical. This was only made clear to me after studying the ACHE ethical standards. In this regard, I intend to learn as much as possible in order to make sure that I understand as much as possible the v arious issues which constitute unethical behaviour. The other important thing which I will include in my strategy for the future with regard to ethical behaviour is acting in time and being proactive. By reading the ACHE ethical standards, I realised that failing to act in time and only acting in the last minute is one of the factors which lead to unethical action because one is left with little choice. In this regard, I will start acting proactively to make sure that

Knowledge Management Foundations of IT Systems Essay

Knowledge Management Foundations of IT Systems - Essay Example In addition, this process engages bringing jointly fundamentally enhanced business procedures, technology solutions and shared e-commerce to carry-out step for change developments in operational productivity and customer service (The Knowledge Management Forum, 1996) and (Levinson, 2011). Moreover, knowledge management offers suggestions to solve various serious issues of corporate adaptation, continued existence and capability against fundamental discontinuous environmental transformation. Fundamentally, it exemplifies an organizational procedure that looks for synergistic arrangement of data and information processing capability of information technologies, and the inspired and inventive capability of human beings. However, knowledge management is more and more concerned with the practical implementation as it is not in the theoretical description though in real world implementation wherein lie the maximum opportunities and challenges. Thus, all the scenarios regarding knowledge ma nagement must be understood inside the precise context of predictable performance outcomes and value propositions that respond the issues (Brint, 2011) and (Knowledge Management Gateway, 2011). Why Knowledge Management? Knowledge management is a wide-ranging task and fundamental component of corporate activities. Perhaps at the present organizations are interested in developing their personal business knowledge management competencies, to develop into a more efficient player in the worldwide knowledge financial system, or turning into a more viable knowledge leader and knowledge ambitious organization (Knowledge Management Online, 2011). Additionally, at the present knowledge management is implemented across the globe, in all the types and industry regions, private and public organizations and humanitarian institutions as well as international charities. In this scenario, efficient knowledge management is recognized to be a very critical way of new knowledge and novel ‘ideas' to the modernism procedure, to new inventive products, services and solutions. However, knowledge management, as a way, must help organization attain organizational goals, or still go beyond their aims and objectives. In addition, the idea of knowledge management is not to immediately turn into a more knowledgeable organization, however to be capable to produce, shift and implement knowledge with the purpose of attaining objectives (Knowledge Management Online, 2011). Implementing Knowledge Management System An organization that is interest in implementing KM system they must immediately take some of or all of the below given steps of efficient knowledge management. Additionally, these steps are outlined as separate steps, as well as sequentially, however they ultimately require to be measured as inter-related mechanisms, as fraction of a holistic technique to knowledge management. In this scenario, one initial step is to rapidly assess organization or team’s directions as we ll as willingness for knowledge management. I have outline below some important steps of KM technology application for any corporation. Thus an organization must follow these steps for successful completion and achievement of the project: (Knowledge Management Online, 2011) Free KM Assessment Survey Knowledge Management Education Knowledge Management Consulting Knowledge Management Roles and Responsibilities Knowledge Management Processes, Methods and Tools Knowledge Competencies Knowledge Networks Knowledge

Reduce External Costs, Improve Products and People's Lives Assignment

Reduce External Costs, Improve Products and People's Lives - Assignment Example Aircon used to consume huge electricity but was minimize by inverter technology. The technology can be used in electric stove to minimize its energy consumption. b. Standardized induction technology – induction cookers are now being introduced in the market where electromagnet to heat iron or steel cookware (Severson). It is still however a little expensive but when demand increases, the product can be produced in scale driving the cost down both in terms of unit cost and energy consumption. c. Prolong product lifecycle – simply put, product lifecycle is the lifespan of the product. Product cost can be defrayed when the product cycle is prolonged because its cost is spread over the years of its use. When these three proposals are introduced into an electric stove, the energy consumption will be significantly lowered and the product will also last longer making a lesser ecological footprint. The product cost may be increase a little but this can be easily defrayed by its lower energy cost. Severson, Kim. "Is Induction Cooking Ready to Go Mainstream?."Â  The New York Times. The New York Times, 6 Apr. 2010. Web. 2 Oct. 2014.

Supply Chain Management (operations management)2 Assignment

Supply Chain Management (operations management)2 - Assignment Example In order to maximize revenue, an organization has to consider the net worth of a product to the customers and what the supply chain tends to accomplish is to get the exact requests of the consumers. Supply chain management is basically concerned with issues of who is involved, cost and service in addition to integration of such kind of services (Jacoby, 2010). Supply chain strategies are directly affected by other chains available within the organizations. This includes an activity that comes up with the introduction of new products to the firm. Supply chain should also be integrated with other goals of the organization like the ones which leads to maximization of profit margin thus giving a lot of returns. Supply chains needs to be designed to eliminate unnecessary uncertainty and risks at all levels of production. Some of the risks that may come in the course of production include the risks associated with machines, logistics amongst others. Organization can optimize supply chain management to improve results and remove obstacles in several ways such as the global optimization. Having a complex network, the supply chain management have so far been developed to enable integration of products from the point it comes from the supplier to the point delivery is done. A good example is whereby an organization can be able to get a supply and directly deliver it to consumer without having to actually stock it and then goes ahead to make payments through electronic money transfer. Supply chain is considered dynamic in nature. Customers’ demands and suppliers’ potentiality will always change after sometimes. This will in turn leads to evolution in supply chain relationships. For instance, when a customer potentials increases, this will impact more pressure on the supplier to increase the rate of productivity in quantity and quality. Organizations should be able to project any risk that might come in the line of production of commodities to the

Total Quality Management Essay Example | Topics and Well Written Essays - 2500 words - 4

Total Quality Management - Essay Example There exist certain important factors of TQM that eventually support the modern businesses to obtain several significant benefits such as continuous product development, complying with the requirements of the customers efficiently and accomplishing superior competitive position as compared to others. In this regard, such aspects associated with TQM fundamentally include hard and soft factors (Hill, 2008). From a theoretical perspective, hard factor is majorly associated with the application of certain effective tools including statistical procedure control and problem solving mechanisms in the operational procedures of the respective business organisations (Mukherjee, 2006). On the other hand, the soft factor typically represents the management perspective relating to TQM approach with the involvement of certain valuable resources such as culture, people and improvement (Brown & et. al., 2013). With this concern, the essay intends to critique the hard factors of TQM in terms of design, planning and control with relevant examples. In this regard, Ishikawa 7 tools, ISO 9000, Business Excellence Model and Benchmarking have been selected as the hard factors of TQM based on which the entire discussion will be made. Apart from this, an attempt would be made in analysing the provided quote of Albert Einstein i.e. â€Å"The problems that exist in the world cannot be solved by the level of thinking that created them† (Cavaleri & Seivert, 2012) while critiquing the above stated context. The practices and the factors associated with TQM practice are extensively used in this present day context by different business organisations operating in distinct industries with the intention of attaining their predetermined operational targets. It will be vital to mention that the hard factors of TQM largely contribute in assisting modern organisations towards

Reduce External Costs, Improve Products and People's Lives Assignment

Reduce External Costs, Improve Products and People's Lives - Assignment Example Aircon used to consume huge electricity but was minimize by inverter technology. The technology can be used in electric stove to minimize its energy consumption. b. Standardized induction technology – induction cookers are now being introduced in the market where electromagnet to heat iron or steel cookware (Severson). It is still however a little expensive but when demand increases, the product can be produced in scale driving the cost down both in terms of unit cost and energy consumption. c. Prolong product lifecycle – simply put, product lifecycle is the lifespan of the product. Product cost can be defrayed when the product cycle is prolonged because its cost is spread over the years of its use. When these three proposals are introduced into an electric stove, the energy consumption will be significantly lowered and the product will also last longer making a lesser ecological footprint. The product cost may be increase a little but this can be easily defrayed by its lower energy cost. Severson, Kim. "Is Induction Cooking Ready to Go Mainstream?."Â  The New York Times. The New York Times, 6 Apr. 2010. Web. 2 Oct. 2014.

Total Quality Management Essay Example | Topics and Well Written Essays - 2500 words - 4

Total Quality Management - Essay Example There exist certain important factors of TQM that eventually support the modern businesses to obtain several significant benefits such as continuous product development, complying with the requirements of the customers efficiently and accomplishing superior competitive position as compared to others. In this regard, such aspects associated with TQM fundamentally include hard and soft factors (Hill, 2008). From a theoretical perspective, hard factor is majorly associated with the application of certain effective tools including statistical procedure control and problem solving mechanisms in the operational procedures of the respective business organisations (Mukherjee, 2006). On the other hand, the soft factor typically represents the management perspective relating to TQM approach with the involvement of certain valuable resources such as culture, people and improvement (Brown & et. al., 2013). With this concern, the essay intends to critique the hard factors of TQM in terms of design, planning and control with relevant examples. In this regard, Ishikawa 7 tools, ISO 9000, Business Excellence Model and Benchmarking have been selected as the hard factors of TQM based on which the entire discussion will be made. Apart from this, an attempt would be made in analysing the provided quote of Albert Einstein i.e. â€Å"The problems that exist in the world cannot be solved by the level of thinking that created them† (Cavaleri & Seivert, 2012) while critiquing the above stated context. The practices and the factors associated with TQM practice are extensively used in this present day context by different business organisations operating in distinct industries with the intention of attaining their predetermined operational targets. It will be vital to mention that the hard factors of TQM largely contribute in assisting modern organisations towards

Anne Sexton Literary Essay Example for Free

Anne Sexton Literary Essay Anne Sexton transforms the well-known fairytale Snow White into a sardonic piece of writing that reflects societal perceptions of the woman. In her poem she explores the idea that a woman is nothing more than a doll, something that sits pretty on a shelf for all to admire. She also describes the reliance on men, and how women are becoming dependent and incompetent. She counteracts this with a women’s intelligence compared to her beauty and vanity, and what a woman should be. She explores the idea of beauty and vanity going hand in hand, meaning that even princesses can be vain. Fairytales aren’t real, and they are overrated- happily ever after does not exist, especially for those who aren’t beautiful. All fairytales have a female antagonist, and one that is usually a princess. Snow White is sexualized as the virgin. Good Day Mama,  and shut for the thrust  of the unicorn. She is unsoiled. She is as white as a bonefish. (9-13) This text explains that she innocent and untouched. All that matters to a prince is that she is beautiful and a virgin. A brand new doll with porcelain skin and glassy eyes. cheeks as fragile as cigarette paper, arms and legs made of Limoges, lips like Vin Du Rhà ´ne, rolling her china-blue doll eyes open and shut. (3-7) Sexton compares Snow White to a doll because she is merely an object for ones admiration and love. She is to be pampered and taken care of in return of sitting pretty on the shelf, to be admired. Beauty and vanity play the two-sided coin in this poem, you can’t have one without the other. The queen epitomizes vanity, when she asks the mirror who is the fairest of the land. When the reply is Snow White, she is outraged. Being the most beautiful person in the land is what the queen desires. She craves the attention because beauty is so valued, and Sexton makes that clear. If Snow White or the Queen weren’t beautiful, would anyone ever notice them? Sexton says,  Ã¢â‚¬Å"Beauty is a simple passion.† Meaning everyone desires beauty, so those who have it are more noticed. Because Snow White is beautiful, both the prince and the dwarves value her. But with beauty comes vanity, and that is something that Sexton believes in. She believes women should be active and intelligent; beauty is just a faà §ade that relieves women of reaching their full potential. If a woman is beautiful, she can be just as successful as a smart woman without doing all the work because she can rely on men. Any man will want a beautiful wife that does not interfere with his matters. This is what the prince seeks, and finds when he falls in love with Snow White only for her beauty. He stayed so long his hair turned green and still he would not leave. The dwarfs took pity upon him and gave him the glass Snow White its dolls eyes shut forever to keep in his far-off castle. Sexton believes all women should work to be smart, and beauty is no reason not to achieve that. Snow White is unintelligent because she keeps opening the door to the queen even when the dwarfs urge her not too. Her unintelligence is linked to her reliance on a man because she ends up in the happily-ever-after position as the wife of a prince even though she did nothing to deserve it. But what Sexton is trying to show us at the end of the poem that Snow White is now obsessed with herself and her status, and that she will one day be the queen that tries to kill the next young beauty. Meanwhile Snow White held court, rolling her china-blue doll eyes open and shut and sometimes referring to her mirror as women do. The fairytale ending is fictional. The world isn’t Prince Charmings, beautiful princesses, and evil queens that always lose. ‘The End’ isn’t ever the end because it’s a cycle of innocence, beauty, vanity, and then ultimately envy. Beautiful women are nothing more than an item; they rely on men and are not intelligent. They are envious, and full of vanity. The  perfect women doesn’t exist, and there will never be a happily ever after.

Heritage Of Christianity In Ethiopia Theology Religion Essay

Heritage Of Christianity In Ethiopia Theology Religion Essay Christianity and Islam have coexisted in Ethiopia since the celebrated first migration in the formative period of Islam fourteen-hundred years ago. Ethiopia has overcome many attempts in the past to overthrow this coexistence, but modern Ethiopia remains a nation which prides itself on a tradition of religious tolerance between its populations of Christian, Muslim and Jewish citizens. This delicate balance however, is facing a threat by interference from outside interests attempting to establish control in the Horn of Africa. These outsiders are using religious non-governmental organizations such as evangelical Christian missionaries and Wahabist Muslim dawahs to influence the population against the traditional ruling Coptic Church. Heritage of Christianity in Ethiopia The Judeo-Christian history of Ethiopia goes back to the time of Israels King Solomon in the tenth century BCE. The Holy Bible (First Kings) records that the Queen of Sheba (modern Ethiopia), visited King Solomon. The Ethiopian epic Kebra Nagast records that she bore a son by Solomon, Menelik, who is said to have brought the Ark of the Covenant to Ethiopia. This was the beginning of the Solomonid Dynasty of Ethiopia. The Ethiopian Coptic Orthodox Tewahedo Church (hereafter referred to as the Coptic Church) claims the Ark still resides in the Chapel of the Tablet in the Church of Our Lady Mary of Zion in the town of Axum, Ethiopia (Raffaele, 2007). Axum is also the name of the first Christian kingdom of Ethiopia, which was the first of any world nation to adopt Christianity as the official state religion. The Coptics relate that Christianity was first brought to Ethiopia by an Ethiopian royal official who was converted by Phillip the Evangelist, one of the first seven deacons of Christianity. In the fourth century, the Pope of the Coptic Church in Alexandria appointed Frumentius as the first Archbishop of Axum and Axum became officially a Christian nation. It should be noted that before this time the Coptic Church based in Alexandria (also known as the Oriental Orthodox) had already split off from what would become the Catholic churches and the Eastern Orthodox churches. This split was due to difference in opinion on the nature of the Christ (Gascoigne, From 2001, ongoing). This difference of opinion continues to alienate the Coptics from the rest of Christianity to this day, as will be seen. Muslim Heritage in Ethiopia In the year 613, the Companions and Family of the Prophet Mohammad (pbuh) were being persecuted by the Qurayshi clan in Mecca. One of the leading Companions was an Ethiopian slave. The Ethiopian king at this time was known to be a just leader and the Prophet was convinced that his followers would be safest in a Christian country where the people followed the scriptures of the Book rather than among the pagan tribes of Arabia. The Prophet ordered his Companions to migrate (hijra) to Ethiopia for their safety. During the six years the Companions stayed in Ethiopia, many Ethiopians converted to the new religion of Islam. In the sixth year of the first hijirat, a nephew of the Prophet, Amir ibn Umayya visited Ethiopia with an invitation to Negus, the king of Ethiopia to accept Islam. Amir was warmly received by Negus, who against the will of the rest of the royal family and the Coptic Church, converted to Islam. The royal family revolted against Negus and when Negus died, the Prophet off ered the first ever in-absentia funeral prayer (Salatul Ghaib) in his honor (Mohammed, 2012). Islam had established itself in Ethiopia, but Ethiopia would remain officially a Christian nation. The Solomonid Dynasty would continue to reign until the Marxist revolution of 1974 and the royal position was that there were no Muslim Ethiopians. The position of the royal family was that Muslim Ethiopians were foreigners living in the country (The First Hijrah Foundation (FHF), 2012). This foreigner label on Muslim Ethiopians is in part strengthened by ethnic and racial divisions within Ethiopia. Racial and Ethnic Federalism Ethiopia is currently divided into ethnically-based autonomous federal regions. For example, the Somali ethnic region is the most populous and takes up roughly the eastern third of the country with its population 97% ethnically Somali. The Somali people are a Cushitic (black African) ethnic group and predominately Muslim (98%). The next most populous region is Oromo. The Oromo are also a Cushitic ethnic group whose population is religiously divided between predominately Muslim in the eastern portion of the region and evangelical protestant (referred to as Penty) Christian in the west. The Amhara ethnic group is Semitic (like the Hebrew and Arabs) and lives in the highland region of Amhara (Population Census Commission, Federal Democratic Republic of Ethiopia, 2008). The royal family of Ethiopia was of Amharic ethnicity and this ethnic group still maintains dominance in the Ethiopian federal government. The Amharic people are predominately Coptic and the Coptic Church in Ethiopia is p rimarily led by Amharics. This historical dominance of the Amharic people over the other ethnicities of the region has been the cause for some of the conflict in the region that to outsiders may appear to be simply religiously based. Past Religious Conflicts With the emergence and rapid growth of Islam in the sixth century, Ethiopia quickly became an isolated Island of Christendom in a Sea of Islam (Gascoigne, From 2001, ongoing). Although geographically isolated, Ethiopia maintained strong ties to the rest of Christendom. The Ethiopian Patriarch has always been appointed by the Oriental Orthodox Pope in Alexandria and monks from the Ethiopian Coptic Church maintain the unique right of being co-custodians of the Church of the Holy Sepulcher in Jerusalem. By the end of the thirteenth century, Ethiopia was the only non-Muslim state in northern Africa. During the fifteenth century, Ethiopian monks from Jerusalem attempted to attend the Council of Florence to discuss the re-unification of the Christian Churches. They were denied entry to the council by both the Catholic and the Eastern Orthodox Churches because of the theological differences which had caused them to split off originally. The presence of the Ethiopian monks at Florence did, however, serve to attract the attention of Rome resulting in a Jesuit mission being sent to Ethiopia. This Jesuit presence would last nearly two hundred years and ultimately result in the Ethiopian king, Susenyos, renouncing the Coptic faith as heresy and adopting the Roman Catholic faith. After the departure of the Jesuits, Susenyos succumbed to pressure and reverted back to the Coptic faith. During the sixteenth century when the Jesuit presence was at its strongest, Ethiopia was also facing jihads from the Muslims. The first jihad was from the Sultan Graà ± (aka Ahmad ibn Ibrahim) who had based his sultanate in Harar. His decision to declare holy war on Ethiopia was due in part to marginalization and discrimination against the Muslims influenced in part by the Jesuit missionaries. Graà ± moved an army of Somalis west and destroyed a great many of the Christian shrines and holy places (Gascoigne, From 2001, ongoing). In the nineteenth and twentieth centuries Ethiopia fought to maintain its independence from the colonial powers of Portugal and Italy. The Ethiopian emperor, Haile Selassie, led in the formation of the League of Nations and the Organization of African Unity. After the second world war, Ethiopia backed by the United States, who was looking for a possible Red Sea port annexed Eritrea. Eritrean opinion was divided on this between Christians who were pro-unification and Muslims who were for Eritrean independence. This led to nearly 40 years of conflict. As part of the larger global cold war, a Marxist element emerged in Eritrea. This Marxist element eventually performed a military coup against the royal family, deposing Emperor Haile Selassie in 1974. A period of instability prevailed until 1991 when the current constitution was affirmed and Eritrea was granted independence in 1993. From 1991 until 2012, Ethiopia was under the control of the Prime Minister Meles Zenawi. Occasional wars continued to break out along Ethiopias borders and the conflicts would spill over into the neighboring countries of Somalia and Sudan. Meles supported, and was supported by, the Coptics and the Amharic population. Although no longer in power by law, the Coptics and the Amharic peoples still hold much influence. Meles support of the Coptics and marginalization of the Muslims and Penties is part of the cause of recent violence in the country (Heinlein, 2012). Recent Events On the second of March, 2011 in Asendabo, a Penty allegedly desecrated the Koran. It was believed by the Ethiopian Government that the Kawarja Muslim sect used this alleged act to incite a riot that resulted in up to 10,000 Christians fleeing the area. Approximately fifty churches and many Christian homes were burned to the ground. This was the largest in a series of Muslim attacks against Christians, especially Penties in Muslim dominated regions. In November of 2010, Christian residents of Besheno found warnings nailed to their doors to convert, leave the city, or be killed. On the twenty-sixth of February, 2011, a Muslim mob attacked seventeed Penty college students with rods and sticks for attempting to distribute Bibles in a Muslim village (Macedo, 2011). Although freedom of religion is guaranteed in the Ethiopian constitution, each autonomous region may interpret that freedom in its own way. In November of 2011, the Ethiopian Government identified the Kawarja sect with Al-Qaeda and expressed concern over a growing force of Wahhabi Muslims promoting violence against moderate Muslims and Christians with the aim of making Ethiopia an Islamic country governed by Sharia law. Wahabist teachings would upset the balance between Christians and Muslims and challenge United States interests in the region as well. The Ethiopian Government responded by backing a competing Muslim sect, Al-Ahbash. Al-Ahbash was founded by an Ethiopian and is very anti-Wahabi/Salafi in its beliefs, going so far as to declare takfir against them (declaring the Wahabi/Salafi as heretics). The Ethiopian Government appointed an Islamic Affairs Supreme Council (IASC) that was Ahbash heavy with no representatives from the Wahabi or Salafi sects. This council seeks to create Ahabash based Islamic schools in Ethiopia so that Ethiopians will not have to go to Arabic countries to learn to become Imams (Fentaw, 20 12). With the death of Prime Minister Meles Zenawi in August of 2012, some Ethiopian Christians and Muslims are hoping for unity in the future. Ethiopian college students of both Christian and Muslim faiths joined together to found the group Concerned Ethiopian Students to work toward peace. When Egypt and Libya saw riots in September of 2012 because of the film Innocence of Muslims produced by Coptic Christians living in the United States, Coptic leaders were quick to denounce the film. On the fifth of November, 2012, the new Pope of the Oriental Orthodox Communion was elected and took his place ruling the Coptic Church in Alexandria. The next day he issued a statement stating that the Coptic Church has no political role, but that he fears Sharia law will threaten the religious freedom and safety of the Christian community (Schiava, 2012). On the seventh of November, 2012, the Ethiopian Government announced the newly elected members of the IASC. The government hopes the IASC can bring pe ace within the Muslim community (VanDerWolf, 2012). Muslims, especially Wahabis, had been protesting the elections for months. The Wahabis had requested the elections be held in mosques instead of public meeting halls. The Wahabi fear is that the elections were influenced by the government which they say is trying to ban the Wahabi sect and promote Ahbash (Heinlein, 2012). More than one hundred Muslims are being held on terrorism charges for the protests (VanDerWolf, 2012). The Way Ahead for United States Interests The United States involvement in the Horn of Africa, particularly Ethiopia sits in the same delicate situation as the Coptic Church. With the United States alliance with the Amharic ruling parties of Ethiopia, any move by the government against Islam or any sect of Islam, such as Wahabi, is seen by the radical Muslims as an act backed by or even directed by the United States and Israel (The First Hijrah Foundation (FHF), 2012). The evangelism of the Penty churches into Muslim and Coptic areas is seen by some as interference from the United States, though through such entities as the Ku Klux Klan (comment to (CBS News, 2012). While this may seem ridiculous, it conveys the fear that is bred in the minds of some Ethiopian Muslims. The Ethiopian Coptics may be facing the greatest struggle in their nearly two-thousand year history. If an Islamist faction gains control of the nation, many will flee the country much as most Christians have fled from Iraq and most recently Egypt. Any move by the United States government or American based organizations to aid the Christians in Ethiopia will only strengthen the resolve of the Islamist sects to eliminate the Christian powerbase. Perhaps they may find peace in true democracy in the post-Zenawi era.

Analysis of the World Wine Market Essay -- Business Marketing Case Stu

Analysis of the World Wine Market TABLE OF CONTENTS 1. Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 1 2. World wine producers†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦..†¦ 1 3. World wine exports†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦..†¦.2 4. France productions, exports and international image†¦Ã¢â‚¬ ¦.†¦.†¦..3 5. Success of New World over the Old World : key factors†¦Ã¢â‚¬ ¦...†¦..4 6. Evaluation of different strategies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦....5-8 6.1 Premium & Standard wine market 6.2 Creation of an accessible French brand 6.3 The Global wine company (acquisitions and mergers) 6.4 Appellation d’origine controlee and competitive disadvantage 6.5 Protectionism versus being marketing oriented 7. World wine market: long term predictions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..8 8. Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦9 1. Introduction International competition on the wine market is characterized by a considerable disparity of strategies used by the different producers and wine-producing regions around the world. The objective of this report is to provide an understanding of the competition mechanisms between countries which are traditionally exporters - the â€Å"Old World† producers, represented by European countries - and the so called â€Å"New World† countries which today compete for the supremacy of the traditional model of wine growing and production. 2. World wine producers The distribution of the world wine producers is clearly detailed in the map below. The Old World producers are located in Europe. France, Italy and Spain are the main producers , followed by Portugal, Balkan states, UK and Germany. The European countries are still detaining a dominant position and they accounted for 70% of world production and consumption in 1999 (by data acquired by Euromonitor). The New World producers are scattered around the world and are represented mainly by: Australia, Chile, United States, South Africa, New Zealand, Argentina and Canada. 3. World wine exports The world wine export are still dominated by the Old World producers (see diagram below), with only three countries (France, Italy and Spain) which account for 60% of the world volumes exports in 2003. Among the New World producers, the largest exports are coming from Australia, Chile and United States. Another interesting characteristic is showed by the diagram below: the value of wine in exports market are increasing at greater rate than volume. 4. France productions, exports and international image ... ...duct quality and reliable supplies. The Old World future ability to counter the ongoing threat from New World producers will depend on adopting an extensive marketing approach: size, branding, distribution channels and new mergers in order to benefit from the new global economy will all play a fundamental role in determining its success. 9.  Ã‚  Ã‚  Ã‚  Ã‚  References http://www.bbr.com/GB/db/news-item/623?ID=HKKKBXLQ56900VN&first_news_F=1 http://www.calwinexport.com/pages/MarketInfo.htm http://www.euromonitor.com/Wine http://www.export.gov/exportamerica/NewsFromCommerce/nc_New_Wine.html Global Trade Atlas-Global Trade Information Source 2004 http://www.greekwinemakers.com/members/news/2003/030426.shtml http://iblnews.es/noticias/09/116440.html http://www.jancisrobinson.com/winenews/jr779 http://www.just-drinks.com/features_detail.asp?art=1026 Kotler P., Armstrong G., Saunders J., Wong V. (2002) Principles of Marketing, Pearson Ed.Ltd, pp.185-188 http://www.waitrose.com/food_drink/wfi/drinks/wine/0203046.asp http://www.wine.co.za/News/News.aspx?NEWSID=5995&Source=News http://www.wineloverspage.com http://www.wineoftheweek.com/winervw.html