Analysis of My Last Duchess and Ulyssis

â€Å"My Last Duchess† is a vivid and striking monologue written in 1842. This poem represents the first part of the joint pieces called â€Å"Italy and France†. The poem consists of twenty eight rhyming couplets that are, in my mind, dominated by iambic pentameter. Robert Browning main tool to use in the poem is breaking the lines for regular and irregular pauses. This tool makes the poem very easy and enjoyable to read, and creates easy conversational flow. The poem begins with the line â€Å"Ferrara†. The readers finds himself in a house of a very wealthy duke with a lengthy title and immense power.At the beginning of the poem we are shown that the duke represents the amazing specially made collection of art he possesses. We hear the voice of the main character when he and his guest stop next to the painting with the duke’s last wife. The narrator starts to describe the painting, though rapidly moving to the describing of the duchess herself. From his m onolog it becomes obvious that the narrator considered his late wife to be also one of his possessions that were commissioned for him according to his will.From the very beginning of the poem the narrator is clear to be portrayed as a person depleted of morality and honesty. The poem shows corruption and wickedness of the speaker's character with this presenting similar traits of the society of that time. The people then wanted to possess everything can be naturally possessed or not. In his poem â€Å"Ulysses† Tennyson transports us to the Victorian times. The poem structure is also a dramatic monologue. Throughout the poem Tennyson uses enjambment in order to reproduce the meaning and content of the poem which is that of sailing beyond death.Tennyson’s poem is deep and resonant, he uses high-sounding verse, particularly by setting different vowel sounds closely against each other. In the poem â€Å"Ulysses† the main character is a hero, a warrior and a famous A ncient Greek traveler. He refuses to sit behind and unwind. His whole life is concerned with traveling, taking on adventures, competing and battling, he simply rejects that a man can be an â€Å"idle king† (Davis). Both of the poems, ‘My Last Duchess’ by Robert Browning and ‘Ulysses’ by Alfred Lord Tennyson, are examples of dramatic monologues.As it was already mentioned above they both exclusively consist of the monologs of the protagonists. In both poems there are powerful noble men ruminating about past, though they are very different. What is also different are the poetic devices used in the poems to present these two main characters. The first difference between the main characters is the way they came into power and how they exercise it. The rich Italian duke has acquired all his riches from the â€Å"nine-hundred-years-old-name†.He was born with lengthy titles, in the family with already established name. In his life he never had to do anything to achieve some position. His whole life he went with the flow, expecting others to admire him and his name and follow his orders. On the contrary, Ulysses has earned his status of a hero after battling in Troy, where he showed his nobility and courage. He is respected by people not because his name tells enough for him and leads to common obedient admiring. They respect him because he is a warrior fighting for Greece.At it can be seen from the previous paragraph the characters of the duke and Ulysses are very different. Even though they both get killed at the end of the poems, the reads see that the ways they took death also says a lot about who they are. Wee see that Ulysses is killed as a hero, while the Duke of Ferrara’s killing is very far from being heroic. What is interesting is that the way the duke was killed was not even personal. Even for his death he gave out orders and expected the job to be done for him.

Balanced Scorecard and Financial Perspective

African Journal of Business Management Vol. 5(32), pp. 12520-12530, 14 December, 2011 Available online at http://www. academicjournals. org/AJBM DOI: 10. 5897/AJBM11. 928 ISSN 1993-8233  ©2011 Academic Journals Full Length Research Paper An investigation into the interrelation between balanced score card factors: A case study in the automotive industry Jalalpoor Mahdieh1 and Tolouei Pedram2* 1 Department of Management, University of Isfahan, Isfahan, Iran.Department of Management, University of Tehran, Tehran, Iran. 2 Accepted 14 June, 2011 Since 1990s, when Kaplan and Norton introduced balanced scorecard (BSC) model, this model has been considerably popular amongst managers all over the world. Although BSC is known as a successful performance measurement tool amongst managers, there have been criticisms of that including: How financial and non-financial measures are linked together? Are relationships in a direct way or there is bi-directional casualty?To overcome the limitations t o current BSC theory, this paper aims to describe main factors of each balanced scorecard BSC perspectives and investigate interrelation between them with consideration to automotive parts sector in Iran. For this aim, we analyze the relationship between various perspectives in structure of balanced scorecard and measure causal relationships between various perspectives and their role in improving financial perspective. This research was conducted through a set of monthly reports of Balances scorecard factors in Tosnco – company of auto industry – during a three-year period.Case study evidence verified the underlying theoretical hypothesis of BSC. It is verified that perspectives are positively correlated with each other and new interrelation between internal process perspectives factor and financial perspective evidence was also found. The innovative dimension of this research is that we actually applied BSC in Iran and investigated factors related to auto industry an d interrelation between factors with each other. Key words: Performance, process, customer, finance, factors. INTRODUCTION Performance measurement is considered a part of a performance management system. This process includes series of activities to eminently and spiritually achieve organizational excellence in the competitive field and focus the efficiency and effectiveness of these activities. Martinson (1999) offer several descriptions of organizational performance, and present a variety of models and methods to performance measurement at the same time. Traditional performance measurement methods *Corresponding author. E-mail: [email  protected] ut. ac. it Abbreviations: BSC, Balanced scorecard; statistical package for the social sciences. SPSS, that were based on financial measures- not only reflected the complete success or failure of companies that did not ave the necessary abilities, but also failed to establish a logical relation between the company’s success factor s and was unable to support management programs (Kaplan and Norton, 2001). Environmental management issues have received an increased amount of attention in recent years, as have various performance measurement systems (PMS) such as the balanced scorecard (BSC). At this time, BSC was presented as the most practical and comprehensive performance measurement model. In recent years, BSC has been a comprehensive model when looking at management issues for financial and non-financial purposes and has been very popular as it as attracted a lot of attention (Norreklit, 2000). This model offers a variety of performance factors in four Mahdieh and Pedram perspectives: The Financial perspective; the customer perspective; the internal business process perspective and the organizational learning and growth perspective. The BSC is a multi-criteria evaluation concept that highlights the importance of performance measurement (Tseng, 2010). Based on BSC, the cause and effect relationship between th e four perspectives have been created (WongOn-Wing et al. , 2007; Paul, 1998). In fact, the logic of cause and effect as the essence of he BSC approach-which distinguishes it from other approaches- is described (Atkinson et al. , 1997). It is stated that the learning and growth performance, internal process performance, costumer performance, and financial performance counteract each other eventually (DE Haas and Kleingeld, 1999). Jones and Sasser (1995) recognized a cause and effect relationship between loyalty and customer satisfaction and financial results, where customer satisfaction leads to loyalty and it is customer satisfaction that can bring positive financial results. Due to the chain relationship between perspectives, hanges in one perspective would cause changes and reactions in other perspectives. Consequently, managers can achieve improved financial results through the chain relationship between perspectives (Cohen et al. , 2008). Relationships in BSC model are indicate d within the framework of the fact that in order to make financial results, we must provide value for costumers, and this would happen only, when an organization improved internal processes and match them with costumers’ demands. Accordingly, in order to improved internal processes, and initialize processes that provide value for costumers, the rganization must reinforce growth and learning in the organization (Kaplan and Norton, 1996). Hogue and James, in study of Australian construction companies in 2000, realized that the companies employing non-financial factors have made considerable financial results. Other researchers have realized that using BSC is indirectly related to improved performance and profitability (Malina and Selto, 2001). There are very few researches related to causal relationship between various factors; especially between financial perspective and other perspectives in BSC model. Amongst such researches we can point to a research, in Greece, that onside rs the relationship between parameters of BSC model in 90 companies. Results of this research indicate that improving non-financial perspectives results in better financial perspectives, and non-financial perspectives are interrelated (Cohen and Thiraios, 2008). Although BSC is known as a successful performance measurement tool amongst managers, there have been criticisms of that including: How are financial and nonfinancial measures are linked together? Are relationships in a direct way or there is bi-directional casualty? In this study, we present an approach to overcome the limitations to current BSC theory.The scope of our study is two-fold; the first goal is to investigate and identified main factors of each balanced score card perspectives with 12521 consider to automotive parts sector. We categorize the factors and determine their priority in regard to environment of automotive parts industry. While the second goal of the study is focused on cause and effects logics and linki ng financial and non-financial perspectives together. In this part, we will assess the influence of factors of each perspective on other perspectives and analyze the cause and effect relationship between them. In order to present a better image of reciprocal impacts f various factors, we have taken into consideration four perspectives of the automotive company with an exception of BSC, and then we will analyze the interrelationship between four perspectives. Considering the fact that in the present environment of Iran, management and control affairs are considerably important, and accurate scientific evaluations are amongst managers’ major concerns, BSC is considered to be one of the most comprehensive and functional tools of performance evaluation. This research measures the effects of different perspectives of balanced score card in an automotive parts manufacturing unit in Iran. LITERATURE REVIEWHere, we first explain how to use balanced scorecard, and then in the next par t, we investigate and identify factors related to each perspective. Part A – BSC Since 1990s, when Kaplan and Norton introduced BSC model, this model has been considerably popular amongst managers all over the world. Hundreds of organizations have already employed this model, or intend to employ it in near future (Rautiainen, 2008; Kald and Nilsson, 2000). Healthcare organization in Sweden has appreciated BSC model quite well, and has employed it as a solution to organizational problems, as well as a means of realizing organizational goals (Aidemark, 001). Germany, England and Italy have also successfully developed BSC model (Gehrke and Horvath, 2002). Numerous countries in Northern Europe have employed this model (Kald and Nilsson, 2000), and studies indicate that the model has been specifically favored in most of those countries; although in some countries, including France, where there is another model called â€Å"dashboard† rooted in their culture, BSC model is no t so popular (Bourguignon et al. , 2004). Kaplan and Norton stress on importance of three principals in the concept of BSC: 1. Maintaining causal relationship 2. Including adequate performance incentives and timulators 3. Maintaining the relationship with financial measurement factors (Speckbacher et al, 2003). 12522 Afr. J. Bus. Manage. Figure 1. All perspectives of BSC. On this basis, researches refer to this model as a means of working out strategies based on causal relationship (Speckbacher et al. , 2003). Causal logic is considered to be the essence of BSC model. Other researchers name causal logic as the core of BSC model (Atkinson, 1997; Norreklit, 2000). There are also theories stressing that Kaplan and Norton (1996) have not adequately explained the causal relationships, and researchers claim that the entioned relationships are not causal, and are merely logic (Pedram, 2003). Another research, in Finland, is indicative of dissatisfactions caused by lack of causal relationsh ip between components of the model (Malmi, 2001). Although definition of causal relationships is the basis of accomplishment for balanced scorecard model, apparently many organizations do not take this into consideration (Aidmark, 2001; Ittner et al. , 2003). Part B – Factors related to each perspective in BSC In this paper, in order to measure and evaluate relationships between various perspectives, we searched or factors related to each perspective. The four perspectives of BSC are learning and growth, internal processes, costumer, and financial. Here we briefly explain characteristics of each perspective. Learning and growth perspective: stress on innovation, creativity, competition, capabilities, and target subjective properties. This perspective aims to identify professions (human assets), system (informational asset), and organizational state (organizational asset) in order to support internal processes. Internal process perspective: identify decisive processes in the o rganization. In this perspective, we ust make sure that company’s products and services meet the needs of customers. Costumer perspective: results in introduction of a valuable approach that guarantees loyalty of costumers. In this perspective we must keep constantly identifying parameters, which costumers consider as valuable, and provide them for costumers. Financial perspective: defines tangible outcomes of organization’s strategies and includes a series of traditional financial factors. This perspective covers longterm goals of the organization, and company’s major goals are usually put into this perspective. Financial erspective is usually considered to be a secondary aspect and a function of other perspectives. It is indeed the outcome of activities of other three non-financial perspectives. All perspectives, their causal relationships, and their relationships with strategies are shown in Figure 1. METHODOLOGY Kaplan and Norton stress that BSC is a model, and must be optimized in accordance with specific elements related to an organization or industry. This model cannot be used as a general model for various organizations and industries, or even for all aspects of an industry. Therefore, it must be designed and xecuted individually for each condition and each organization. Every organization must adjust BSC to its own mission, outlook, strategy, technology, organizational culture, and environment, in order to use it properly (Kaplan and Norton, 1993). For the same reason, we searched in related literature and Mahdieh and Pedram. studies and worked out factors related to each perspective within the realm of automotive parts. The factors are as follows: 1. There are some general factors in accordance with the requirements of international standard. Standard related to this industry is ISO/TS16949: 2009 and ISO9000 2.There are also factors related to costumer, which all companies must report to costumers periodically. 3. Factors related to other stake holder such as communities, share holders and employees 4. Factors included in scientific articles and researches with related subjects We took all required factors from the mentioned sources and put them in Table 1. Source of each factor is shown in the table too. After taking the viewpoints of experts and conditions of the Company into consideration, we selected main factors from Table 1. Factors shown in Table 2 are measured and analyzed as major factors throughout this article.Also in Table 3, the number of factors which are used in the paper is shown. Hypotheses formulation According to Kaplan and Norton model there is a continuous relationship between perspectives of BSC. According to this model, Kaplan and Norton claimed that outcomes of optimizing performance of learning and growth perspective are evident in better performance of internal business processes. This would accordingly have a positive effect on costumer perspective, and finally improves financial performance. These relationships are shown in Figure 2. The following research has aimed to evaluate this claim.In this article, we analyze the relationship between various perspectives in structure of balanced scorecard. Measuring causal relationships between various perspectives and their role in improving financial perspective is the final goal of this research. Three hypotheses were formed in this regard: H1. 1: There is a positive relationship between learning-growth perspective and internal process perspective. H1. 2: There is a positive relationship between internal process and costumer perspective. H1. 3: There is a positive relationship between customer perspective and financial perspective.In the next part, we investigated the relationship between each main perspective of BSC and detailed factors of the other perspectives. The second part of article will assess these hypotheses: H2. 1: There is a positive relationship between all factors of learning and growth perspective and internal process perspective in total. H2. 2: There is a positive relationship between all factors of internal process perspective and costumer perspective in total. H2. 3: There is a positive relationship between all factors of customer perspective and financial perspective in total. 12523 se performance factors which had been frequently used in literature of BSC. For financial perspective we used one financial criterion. In the following tables abbreviations and values related to each factor are brought from TOSN data during the period of 2006-2009. Number of factors in each perspective is shown in Table 4. We worked out level of realization of factors on the basis of company reports, covering the period of March 21st 2006 to March 20th 2010, and in a monthly order. In order to synchronize and facilitate calculations, we worked out reports related to the factors on a monthly basis and in forms of percentages.For each factor, we worked out 48 data from the existing information, we then calculated geometrical average of factors and determined the level of interrelation between each factor and geometrical average of the related perspective. We also worked out value of each factor for the period of March 21st 2006 to March 20th 2010. Measuring the relationship between perspectives This trend showed that the BSC, when executed have growth factor. By using Statistical Package for the Social Sciences (SPSS) in this article, Level of interrelation between each factor and other factors of the same perspective was taken into consideration.By using SPSS, we determine importance rate of sub-scales (factors). The importance rate of each factor is shown in Tables 5, 6 and 7. Also the correlation between four main perspectives is shown in Table 8. The relationship between these four perspectives is shown in Figure 3. In Addition to relationships which are stated in Kaplan and Norton BSC card, it is obvious that there are some strong between perspectives. These relation ships demonstrate that not only these for perspectives are in contact with each other in simple direction as it is shown in Figure 2; they depend on each other indirectly. It eans that not only our hypotheses in the first part are based on facts; some other relationships should be taken into account. Next, we determined whether all the sub factors of each perspective influence on upper perspective. For this aim, we consider each factors of one perspective (for example learning) and calculated the correlation between all factors of that (L1-L8) with the next perspective (In this example, the process perspective). Based on BSC model, all of the factors of each perspective (Learning) must influence directly on the next perspective (process). We will investigate whether this claim is true or not.These relations are shown in Figure 4. Research method Conclusion Statistics used in this article are related to automotive parts manufacturing companies in Iran. The data are collected in Naien Development and Progress Company (TOSN Co. ). TOSN was established in January 1997. The main activity of this company is manufacturing main parts of automotive engine. The company is the sole manufacturer of some specific parts in Iran. The company outlook is defined as pioneering in manufacturing main parts of automotive engine in the Middle East. In this research we tried to In this article, we investigated factors related to each erspective. In order to measure and evaluate relationships between various perspectives, we searched for factors related to each perspective and ranked them for each perspective (Tables 5, 6 and 7). In the next part, we evaluated level of interrelation between non-financial perspectives and financial perspectives through 12524 Afr. J. Bus. Manage. Table 1. General factors related to evaluating BSC perspectives. Perspective Factor Abbreviations Financial Return on assets return on equity inventory turnover sales margin assets turnover, debtors turnover R OE ROA IT SM AT DT Percentage of lost clientsPercentage of customers’ complaints Market share on time delivery to customer rate of orders variety of products (according to the market), Perceived level of quality Perceived level of trust to the products After-sales service Rate of new costumers Perceived level of service Brand awareness Brand image Perceived value of money Perceived level of service PLC PCC MSh OTD RO VoP PLoQ PLoT AfSS NC PLoS BA BI PVoM PLoS Effectiveness of the quality management system Degree of evaluation suppliers performance number of raw material suppliers Reduction defect (casting ,machining) Reduction scraps m ean time to repair ean time between faults repair costs Quality cost Per capita logistic per capita raw materials transportation costs per capita product transportation costs EQMS DoESP NRMS RD RS MTTR MTBF RC QC PL PRMTC PPTC Costumer Internal processes 1 source 2 4 * * * * * * * * 3 * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Mahdieh and Pedram. 12525 Table 1. Contd. production person-hours average daily production percentage of product realization Useful product line internal duplication error overall equipment efficiencyEffective dispatching of orders (in terms of price, specifications and delivery time) degree of cooperation with suppliers degree of cooperation with distribution channels Speed of adopting innovations already introduced in the market Speed of adopting innovations not yet introduced in the market rate of support the groundwork for establishment of a process-based organization Learning and Growth PPH ADP Ppr Upl Ide OEE EDO DoCS DoCDC SoAIaI SoAInI sgepo Per capita presented suggestion, per capita accepted suggestions per capita executed suggestions rate of training hours rate of training section efficiencyFrequency rate of accident Severity rate of accident rate of access to IT per capita non-cash bonus rate o f investment in new technology rate of innovative products and services exchange of information with co-operative companies Promotion of common business plans with co-operating companies Cooperative companies monitoring Collaboration and information exchange in the organization Pps Pas Pes Rth Rtse FRA SRA Rai PNCB InvTech IPS FExCO FPCBT CCM FCoEx * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Source 1-factors from international standardSource 2-factors from customer viewpoint Source 3-factors focusing on stakeholder viewpoint Source 4-factors from literature review questioning main hypotheses in balanced scorecard logic. Indeed, we tried to find a real evidence for this claim. The questioned data in TOSN, manufacturer of automotive parts using balanced scorecard for 3 years, confirms this claim in some aspects. Results of presented hypotheses were as follows: Interrelations between growth perspective and intern al processes perspective was almost 0. 96. Also, interrelation between processes perspective and costumer perspective was 0. 824. Interrelation etween costumer perspective and financial perspective was 0. 781(results are shown in Table 8). Therefore, in this company there is a deep and 12526 Afr. J. Bus. Manage. Table 2. Selected factors related to evaluating BSC perspectives in this article. Factor Financial perspective Sales margin Abbreviation Label Sm F Customer perspective Market share Perceived level of quality Perceived level of trust to the products After-sales service Perceived level of service Brand awareness Brand image Perceived value of money MSh PLoQ PLoT AfSS PLoS BA BI PVoM c1 c2 c3 c4 c5 c6 c8 c8 Internal business and production process perspectiveEffective dispatching of orders (in terms of price, specifications and delivery time) degree of cooperation with suppliers degree of cooperation with distribution channels Speed of adopting innovations already introduced i n the market Speed of adopting innovations not yet introduced in the market Rate of support the groundwork for establishment of a process-based organization EDO DoCS DoCDC SoAIaI SoAInI Sgepo p1 p2 p3 p4 p5 p6 Learning and growth perspective Rate of investment in new technology Rate of innovative products and services Exchange of information with co-operative companiesPromotion of common business plans with co-operating companies Collaboration and information exchange in the organization Rate of training hours Rate of training section efficiency Cooperative companies monitoring InvTech IPS FExCO FPCBT FCoEx Rth Rtse CCM l1 l2 l3 l4 l5 l6 l7 l8 Table 3. Number of factors in each perspective. Number of factor 1 8 6 8 23 Perspective Financial perspective Customer perspective Internal business and production process perspective Learning and growth perspective Total and positive relationship between non-financial factors of the model. According to BSC model, Kaplan and Norton claimed hat outcomes of optimizing performance of learning and growth perspective are evident in better performance of internal business processes. This would accordingly have a positive effect on costumer perspective, and finally improves financial performance. Kaplan and Norton did not investigate the different relationship between all perspectives. In this article, we assessed all the relationships between perspectives to determine the cause and effect relationship between all perspectives. Our research resulted in amazing conclusion. We found the relationship between business processes and financial perspective strong.Interrelation between financial perspective and internal Mahdieh and Pedram. 12527 Figure 2. Effect of factors of BSC on each other. Table 4. The importance rate of each factor in the learning perspective. L1 1 0. 854(**) 0. 933(**) 0. 938(**) 0. 947(**) 0. 969(**) 0. 968(**) 0. 959(**) 0. 975(**) L1 L2 L3 L4 L5 L6 L7 L8 L L2 0. 854(**) 1 0. 959(**) 0. 948(**) 0. 868(**) 0. 8 91(**) 0. 922(**) 0. 903(**) 0. 938(**) L3 0. 933(**) 0. 959(**) 1 0. 968(**) 0. 934(**) 0. 937(**) 0. 954(**) 0. 954(**) 0. 978(**) L4 0. 938(**) 0. 948(**) 0. 968(**) 1 0. 928(**) 0. 957(**) 0. 976(**) 0. 955(**) 0. 984(**) L5 0. 947(**) 0. 868(**) 0. 34(**) 0. 928(**) 1 0. 911(**) 0. 934(**) 0. 957(**) 0. 961(**) L6 0. 969(**) 0. 891(**) 0. 937(**) 0. 957(**) 0. 911(**) 1 0. 987(**) 0. 958(**) 0. 978(**) L7 0. 968(**) 0. 922(**) 0. 954(**) 0. 976(**) 0. 934(**) 0. 987(**) 1 0. 963(**) 0. 990(**) L8 0. 959(**) 0. 903(**) 0. 954(**) 0. 955(**) 0. 957(**) 0. 958(**) 0. 963(**) 1 0. 982(**) L 0. 975(**) 0. 938(**) 0. 978(**) 0. 984(**) 0. 961(**) 0. 978(**) 0. 990(**) 0. 982(**) 1 Table 5. The importance rate of each factor in the process perspective. P1 P2 P3 P4 P5 P6 P P1 1 0. 852(**) 0. 918(**) 0. 765(**) 0. 916(**) 0. 865(**) 0. 962(**) P2 0. 852(**) 1 0. 663(**) 0. 951(**) . 925(**) 0. 853(**) 0. 920(**) P3 0. 918(**) 0. 663(**) 1 0. 580(**) 0. 736(**) 0. 683(**) 0. 827(**) P4 0 . 765(**) 0. 951(**) 0. 580(**) 1 0. 824(**) 0. 738(**) 0. 827(**) P5 0. 916(**) 0. 925(**) 0. 736(**) 0. 824(**) 1 0. 939(**) 0. 968(**) P6 0. 865(**) 0. 853(**) 0. 683(**) 0. 738(**) 0. 939(**) 1 0. 958(**) P 0. 962(**) 0. 920(**) 0. 827(**) 0. 827(**) 0. 968(**) 0. 958(**) 1 Table 6. The importance rate of each factor in the customer perspective. C1 C2 C3 C4 C5 C6 C7 C8 C C1 1 0. 979(**) 0. 959(**) 0. 872(**) 0. 953(**) 0. 945(**) 0. 806(**) 0. 820(**) 0. 938(**) C2 0. 979(**) 1 0. 948(**) 0. 891(**) 0. 947(**) 0. 53(**) 0. 855(**) 0. 876(**) 0. 965(**) C3 0. 959(**) 0. 948(**) 1 0. 849(**) 0. 972(**) 0. 960(**) 0. 705(**) 0. 733(**) 0. 898(**) C4 0. 872(**) 0. 891(**) 0. 849(**) 1 0. 873(**) 0. 933(**) 0. 879(**) 0. 878(**) 0. 956(**) C5 0. 953(**) 0. 947(**) 0. 972(**) 0. 873(**) 1 0. 970(**) 0. 733(**) 0. 764(**) 0. 917(**) C6 0. 945(**) 0. 953(**) 0. 960(**) 0. 933(**) 0. 970(**) 1 0. 804(**) 0. 829(**) 0. 961(**) C7 0. 806(**) 0. 855(**) 0. 705(**) 0. 879(**) 0. 733(**) 0. 8 04(**) 1 0. 985(**) 0. 935(**) C8 0. 820(**) 0. 876(**) 0. 733(**) 0. 878(**) 0. 764(**) 0. 829(**) 0. 985(**) 1 0. 946(**) C 0. 938(**) 0. 965(**) 0. 898(**) . 956(**) 0. 917(**) 0. 961(**) 0. 935(**) 0. 946(**) 1 ** Correlation is significant at the 0. 01 level (2-tailed). processes of production and business was positive and equal to 0. 946. Based on this finding, we tried to determine the reason for this relationship. For this aim, we considered all the factors of each perspective and we evaluated these detailed relationship. Interrelation between factors of process perspective and financial 12528 Afr. J. Bus. Manage. Table 7. The relationship between main perspectives. L P C F L 1 0. 967(**) 0. 888(**) 0. 950(**) P 0. 967(**) 1 0. 824(**) 0. 946(**) C 0. 888(**) 0. 824(**) 0. 771(**) F 0. 950(**) 0. 946(**) 0. 771(**) 1 ** Correlation is significant at the 0. 01 level (2-tailed). Table 8. The relationship between each factor of one perspective with the next perspective. Relatio nship between factors of learning perspective and three other perspectives Learning factor Process Customer Financial ** ** ** L1 0. 971 0. 793 0. 968 ** ** L2 0. 854 0. 967 0. 827** ** ** L3 0. 921 0. 916 0. 911** ** ** L4 0. 951 0. 917 0. 914** ** ** L5 0. 910 0. 793 0. 929** ** ** L6 0. 984 0. 852 0. 944** ** ** L7 0. 977 0. 884 0. 945** L8 0. 947** 0. 843** 0. 932** Relation Strongly accepted Moderately acceptedStrongly accepted Strongly accepted Moderately accepted Strongly accepted Strongly accepted Strongly accepted Relationship between factors of process perspective and three other perspectives Process factor Learning Customer Financial Relation P1 0. 880** 0. 740** 0. 889** Direct relationship P2 0. 940** 0. 964** 0. 849** Strongly accepted P3 0. 687** 0. 547** 0. 729** Direct relationship P4 0. 869** 0. 968** 0. 765** Strongly accepted ** ** P5 0. 934 0. 817 0. 888** Direct relationship P6 0. 960** 0. 752** 0. 936** Direct relationship Relationship between factors of custo mer perspective and three other perspectives Customer FactorLearning Process Financial Relation C1 0. 753** 0. 711** 0. 822** Strongly accepted C2 0. 821** 0. 775** 0. 696** Not accepted C3 0. 656** 0. 579** 0. 803** Strongly accepted ** ** C4 0. 506 0. 525 0. 677** Strongly accepted C5 0. 628** 0. 664** 0. 531** Not accepted C6 0. 748** 0. 663** 0. 600** Not accepted ** ** C7 0. 957 0. 936 0. 961** Strongly accepted C8 0. 921** 0. 923** 0. 937** Strongly accepted perspective as a whole was the greatest level of interrelation between financial and non-financial factors. As it was earlier demonstrated, there is a strong direct relationship between business process perspective and inancial perspective. This relationship has not been declared as a direct relation in Kaplan and Norton Model; whilst its more analysis will be useful regarding its high occurrence rate, factors p1, p3, p5, p6 are the main reason for such strong correlation between business processes perspective and financia l perspective. It shows that although, according the model, the relations are series like and bottom-up, there are other relations amongst perspectives as well which must be considered. More detailed analysis of such relations may be posed as the following: P1 high correlation with the financial perspective:Effective dispatching of orders (in terms of price, specifications and delivery time) with financial perspective; given the status quo of the company, relation of this factor with financial perspective is so that more Mahdieh and Pedram 12529 Figure 3. The relationship between four perspectives in BSC. Figure 4. The relationship between main perspectives factors. attention to this factor will lead to faster payment by the customer and hence improvement of financial status of the company. market with financial perspective; this factor relates to R and D field. And regarding its high importance for the ustomer, it will result in faster payment and also will create direct relationsh ip with financial perspective. P3 high correlation with the financial perspective: Degree of cooperation with distribution channels, with financial perspective; this factor affects on p1 factor and improves the performance in terms of financial perspective. P5 high correlation with the financial perspective: Speed of adopting innovations not yet introduced in the P6 high correlation with the financial perspective: Rate of supporting the groundwork for establishment of a process-based organization with financial; because of its elation with â€Å"activity based cost† (ABC) method, it has found relationship with processes and processes separation topics. Considering such direct relations between these two perspectives and their definitions, it can be concluded 12530 Afr. J. Bus. Manage. that although the offered relations in this model are verified in this case, all relations have not been considered in BSC model. Thus, consideration of all of these relations is essential to ac hieve the strategic goals of the company. Research limitations and suggestion for further Factors introduced in each perspective were general. In utomotive parts manufacturing section, we needed to have interviews with managers and decision makers to determine rates of these factors. During analysis of relationship among different perspectives, a direct relation was attained between customer perspective and learning and growth perspective which may be analyzed precisely in the coming studies. REFERENCES Aidemark LG (2001). â€Å"The meaning of balanced scorecards in the health care organization†. Financ. Account. Manage. , 17(1): 23-40. Atkinson AA, Balakrishnan R, Booth P, Cote JM, Groot T, Malmi T, Roberts H, Uliana E, Wu A (1997). New Directions In Management Accounting Research, J.Manage. Account. Res. , 9: 79-108. Bourguignon A, Malleret V, Norreklit H (2004). â€Å"The American balanced scorecard versus the French tableau de Bord: the ideological dimension†. Mana ge. Account. Res. , 15: 107-34. De Haas M, Kleingeld A (1999). Multilevel design of performance measurement systems: enhancing Strategic dialogue throughout the organization. Manage. Account. Res. , 10: 233–261. Gehrke I, Horvath P (2002). â€Å"Implementation of performance measurement: a comparative study of French and German organizations†. In Epstein MJ, Manzoni JF (Eds), Performance Measurement and Management Control: A Compendium ofResearch, Studies in Financial and Management Accounting, JAI Press, London, 9: 159-80. Hoque Z, James W (2000). â€Å"Linking balanced scorecard measures to size and market factors: impact on organizational performance†. J. Manage. Account. Res. , 12: 1-17 Ittner C, Larcker D, Randall T (2003), â€Å"Performance implications of strategic performance measurement in ? nancial services ? rm†. Account. Org. Soc. , 28: 715-41. Jones TO, Sasser WE (1995). Why satis? ed customers defect. Harv. Bus. Rev. , pp. 88–99. Kald M, Nilsson F (2000). â€Å"Performance measurement at Nordic companies†. Eur. Manage. J. , 18(1): 113-27. Kaplan RS, Norton DP (1993). Putting the balanced scorecard to work†. Harv. Bus. Rev. , 134-42. Kaplan RS, Norton DP (1996). â€Å"Linking the Balanced scorecard to Strategy†. Calif. Manage. Rev. , 39(1): 53- 79. Kaplan RS, Norton DP (1996b). â€Å"Using the balanced scorecard as a strategic management system†. Harv. Bus. Rev. , 75-85. Kaplan RS, Norton DP (2001). The Strategy-Focused Organization, How Balanced scorecard Companies Thrive in the New Business Environment. Harvard Business School Press, Boston, MA. Malina M, Selto FH (2001). â€Å"Communicating and controlling strategy: an empirical study of the effectiveness of the balanced scorecard†. J. Manage. Account.Res. , 13: 47-90. Malmi T (2001). â€Å"Balanced scorecards in Finnish companies: a research note†. Manage. Account. Res. , 12: 207-20. Martinsons M, Davison R, Tse D (199 9). â€Å"The balanced scorecard: a foundation for the strategic management of information system†. Decis. support syst. , 25: 71-88. Norreklit H (2000). â€Å"The balance on the balanced scorecard – a critical analysis of some of its assumptions†. Manage. Account. Res. , 11: 6588. Pedram H (2003). â€Å"The balanced scorecard: what is the score? A rhetorical analysis of the balanced scorecard†. Account. Org. Society, 28: 591-619. Paul A (1998). What is the balanced scorecard, www. alancedscorecard. org. Rautiainen AI (2008). † The interrelations of decision-making rationales around BSC adoptions in Finnish municipalities†. Int. J. Prod. Perform. Manage. , 58(8): 787-802 Speckbacher G, Bischof J. Pfeiffer T (2003). â€Å"A descriptive analysis on the implementation of balanced scorecards in German-speaking countries†. Manage. Account. Res. , 14: 361-87. Tseng ML (2010). Implementation and performance evaluation using the fuzzy network b alanced scorecard. Comput. Educ. , 55, 188-201. Wong-On-Wing B, Guo L, Li W, Yang D (2007). â€Å"Reducing conflict in balanced scorecard evaluations†. Account. Org. Society, 32: 363-77.

Business and Sustainability for Social Media

The management of the modern business entity will be judged by the actions taken in the course of doing business and the impact on the environment in which the business is operating. Ethics in business affects the decisions that will be taken by the management and the leadership of such organizations. Ethics in business is concerned with ensuring practices that will ensure best practices that are sustainable in the long term. Thus business ethics will ultimately lead to practices that are good and legal yet without a legal obligation. The business ethics will be closely linked to the shareholders and their rights, ethical issues affecting employees, impact in the environment and responsibility in production and sourcing. This holistic approach to business coupled with ethical decisions will lead to the business being run sustainably is a   universal ideal that requires a universal code of ethics for global business (Leach   2012)   and can be achieved as seen from the UN Global pact principles of doing business. The answer to the above question will be answered by holistically incorporating responses from several case studies as well as interrogating the application of theories on ethical business. The answer to the question is that there is a need for universal codes of ethics which are global and can be achieved by knowledge dissemination and training as well as setting minimum standards for doing business. The UN Global pact is one such ideal code of conduct which can be applied universally. The principles that underpin the UN Global pact will also be used as a reference point as to whether the ethical business theories espoused can be applied universally and the limitations that may arise. The case studies in consideration are taken from the book by Crane and Matten and are from chapters 3,6,7,8 and 9. The answers to the ethical dilemma posed by the case studies will be used as a consideration to answering the above question. There are two theories that underpin the ethics that are applicable to business ethics. The first theory can be referred to as descriptive and attempts to give a description of the moral systems of a group of people or society. The descriptive theory involves research that is empirical that is undertaken on individuals and societies. The theory integrates topics that cover the relativism of moral systems, values, the concepts of right and wrong as well as ethical ideals (Jaunich 2012). The other theory is the normative theory that proposes to prescribe the correct moral way of acting while doing business (Crane & Matten 2016). These are the rules that help us to differentiate the concepts of right and wrong as well as answering two important questions: how are men expected to behave and what is the ideal good life for men. There are several theories under the normative concept and include the ethical absolutism theory that was developed under the traditional ethical theories European philosophers. The ethical absolutism theory postulates that there are moral principles that are universally applicable to concrete contexts and situations (Fryer 2016). The consequentialist ethical theory bases moral judgment on the ou es of an action that is taken. The corollaries attached to this theory are that right or wrong depends on the results of the action that is taken. Another theory is the utilitarianism theory that posits that an action is morally right if the ou es will result in the greatest good happening to the greatest amount of people. The main corollary attached is that the goodness or badness of the agent is separated from the rightness or wrongness of the action. Other theories include the deontological theory, the virtue theory (Holland & Albrecht, 2013) and the ethical relativism theory. The UN global pact has ten principles that are the foundations expected of panies that run their operations sustainably. These ten principles are expected to be incorporated into the policies, values and strategies of an ethically responsible business entity (UN 2017). The principles are broadly defined within four parameters which are: human rights, labor, environment and anti-corruption. The human rights parameter has two principles which are that businesses should respect and support international human rights and also ensure they are not plicit to the abuses of such rights. Four principles fall under the labor parameter which is that businesses should recognize the right to collective bargaining for workers as well as the freedom of association.fro the workers. Another principle is that businesses should eliminate forms of labor which are pulsory and forced the abolition of child labor and eliminating practices of discrimination in respect to employment (UN 2017). Three principles under the environment parameter are that businesses should be cautious in their approach to environmental challenges while doing business. They should also be involved in initiatives that promote environmental responsibility and encourage technologies which are environmentally friendly. The anti-corruption parameter carries the principle of eliminating all forms of corruption, including bribery and extortion. The background to this case study is the setting of production to manufacture the confectionery which is unconventional and uses child labor. While the previous manufacturer in Portugal operated a conventional workshop or factory, the Thai manufacturer has no workshop but rather outsources the work to families who work munally to produce the finished goods (Crane & Matten 2016). While the quality may be the same as the Portuguese manufacturer, there is an ethical dilemma raised as to the use of child labor. The dilemma is that from the point of view of the product manager, child labor is outlawed under the UN labor principles dealing with child labor. Based on the virtue theory, the manager feels guilt (Wang, Cheney & Roper 2016). while purchasing gifts for his nieces when imagining they could be in a similar situation as child laborers. The dilemma is pounded in that this practice is widespread and accepted within the Thai culture but is wrong from the culture of the manager. The theory of ethical relativism would allow the use of child labor in the Thai culture since this practice is right within their norms but the same would be wrong within the culture of the manager. Thus the need for a universal code of conduct would be needed to bridge the gap between what is accepted within one culture and another so that the universal code b es the equalizing consideration as to what is morally right and acceptable. The ethical dilemma in this case study is seen in the manager working for PCC in light of the confidential information that he has access to (Rossouw 2011). The information should be kept confidential and he has a moral obligation to keep the same. He can also use the discretionary information to sell his shares and make a profit out of this information. He is also under the dilemma of whether to inform his best friend who will potentially use the same information to also make a profit by advising his clients to dispose of the shares of PCC (Crane & Matten 2016). The theory of ethical absolutism is applicable in this context due to the right s and responsibilities expected of a shareholder. The manager being a shareholder has a right to sell their shares to others while they also have the responsibility of not misappropriating nonpublic confidential information to trade their shares ( Petrick, Cragg & Sanudo 2011). The misuse of such information constitutes insider trading which is an absolute unethical and morally wrong. Coupled with the UN principles of anti-corruption, the insider trading is a considered form of corruption as well as there is an implied implicit form of human rights abuse to the other shareholders who are not privy to this information. Thus the need of a universal code that would prohibit and hold persons accountable who are engaged in such practices is needed. The moral dilemma in this case is whether to use the information gleaned from the social media site Facebook and use it as part of the critical process to make the decision as to whether to hire the lady in question (Crane & Matten 2016). While the information from the social media site is not acknowledged under law (Beasley & Haney 2013) as being part of the interview process, it carries with it information that if ignored could impact the pany negatively if negatively broadcasted by potential petitors. The use of the utilitarian theory would be applicable in this case as the decision by the human resource manger will produce the greatest good for the greatest number of people. This would include the pany, the shareholders, and the people under the trial as well as for the current employees (Strand 2014). The decision to hire the applicant with lesser qualifications but deemed to have better moral values will thus result in greater good for more people. The need for a universal code of conduct in business that is ethical is needed so as to ensure that the use of social media can be used with discretion while protecting the right of workers to associate, more so during non working hours. The code would thus balance the right of the worker while at the same time ensure that the rights of the employer are not disregarded for their mutual good. There are ethical issues involved when goods are labeled as organic from the perspective of the consumer. The organic label implies that the goods are produced in an ecologically sustainable and ethical way (Crane & Matten 2016). The implied ethics could be in relation to the treatment of the animals which is ethical and the use of crop husbandry practices which are ethically and environmentally sound. There is also the dilemma posed by the production of food organically as it carries long-term challenges of ultimately being more destructive (Crane & Matten 2016) to the environment through more land required to produce the same amount of food through conventional means. The organic labeling also encourages certification of food that is fraudulent and misleading to the consumer. A consumer purchasing on the eco label might consume food contaminated with pesticides while paying a premium for a lie (Thompson 2015). The moral rights theory that gives the right to life and safety is a right that is often violated within the organic foods industry by the production of food which is unsafe and dangerous while at the same time degrading the environment (Zsolnai 2011). A universal code of ethical conduct in business would lead to certification that is also universal with the same quality expectations in every country of origin. This would eliminate unethical certification and outright fraud within the industry. The ethics of sustainable sourcing is increasingly important aspect of doing business especially for panies that source for their raw materials globally (Akkucuk 2017). The case study on Uzbek goes to show that the use of raw materials that have been grown or sourced within practices deemed to be unethical is no longer acceptable (Crane & Matten 2016). panies that are keen to do business ethically will endeavor to establish a chain along its different suppliers who do not infringe upon the minimum expected standards of doing business (Seay 2015). This may include not using child labor, use of forced labor or payment of wages which are considered as slave wages. This applies also to operations which are run as sweatshops in order to reduce the cost of production. The Uzbek case study is important to show how more than 150 panies who are guided by a universal code of conduct decided to boycott purchasing Uzbek cotton in order to enforce change on production practices (James 2015). This led to the abolition of child labor below 16 years of age and which is one of the principles espoused under the UN Global pact. The principle of eliminating child and forced labor is underpinned by the consequentialist theory of certain ou es following a particular course of action. In this case the use of child and forced labor had the consequences of Uzbek cotton being boycotted. In conclusion, the need for a universal code of ethics for global business is needed in order to ensure that certain standards of doing business are respected across the globe. This will safeguard against differences of what is considered morally right or wrong in different societies as seen in the case study of the Thai manufacturer. The need is also seen in the expected rights and responsibilities of shareholders who are privy to nonpublic information and how to use it ethically. The need for standardized code of ethics for employers is also seen where a code of conduct in the hiring process will result in the greatest good for the greatest number of people. The need for a universal code is not only needed but possible by enacting codes such as the UN Global pact for doing business which will give panies the moral backbone in making decisions not only to protect their brand reputation but to also ensure they run their business sustainably. Akkucuk, U. 2017, Ethics and sustainability in global supply chain management. Hershey, PA: Business Science Reference. Beasley, B., & Haney, M. R. 2013. Social media and the value of truth. Lanham, MA: Lexington Books. Crane, A., & Matten, D. 2016, Business ethics: managing corporate citizenship and sustainability in the age of globalization. Oxford, Oxford University Press. Fryer, M. 2016, "A Role for Ethics Theory in Speculative Business Ethics Teaching", Journal of Business Ethics, vol. 138, no. 1, pp. 79-90. Holland, D. & Albrecht, C. 2013, "The Worldwide Academic Field of Business Ethics: Scholars' Perceptions of the Most Important Issues", Journal of Business Ethics, vol. 117, no. 4, pp. 777-788. James, M.L. 2015, "Voluntary Sustainability Reporting: A Case Exploring Ethical, Regulatory, And Strategic Considerations", Journal of the International Academy for Case Studies, vol. 21, no. 1, pp. 91-96. Jaunich, G.J. 2012, Ethics and business decision-making, The College of St. Scholastica. Leach, M. M. 2012, The Oxford handbook of international psychological ethics. New York, Oxford University Press. Petrick, J., Cragg, W., & Saà ±udo, M. (2011). Business Ethics in North America: Trends and Challenges. Journal of Business Ethics, volume 104, pp.51-62. Retrieved from https://www.jstor.org/stable/41476057 Rossouw, G. 2011, A Global parative Analysis of the Global Survey of Business Ethics. Journal of Business Ethics, 104, 93-101. Retrieved from https://www.jstor.org/stable/41476061 Seay, S.S. 2015, "Sustainability Is Applied Ethics", Journal of Legal, Ethical and Regulatory Issues, vol. 18, no. 2, pp. 63-70. Strand, R. 2014, "Strategic Leadership of Corporate Sustainability", Journal of Business Ethics, vol. 123, no. 4, pp. 687-706. Thompson, P. B. (2015), From field to fork: food ethics for everyone. Oxford, NY: Oxford University Press. UN, 2017.The ten principles of the UN Global pact. [online] Available at: [Accessed 31 May 2017] Wang, Y., Cheney, G. & Roper, J. 2016, "Virtue Ethics and the Practice-Institution Schema: An Ethical Case of Excellent Business Practices", Journal of Business Ethics, vol. 138, no. 1, pp. 67-77. Zsolnai, L. 2011, "Environmental ethics for business sustainability", International Journal of Social Economics, vol. 38, no. 11, pp. 892-899.

Plant Physiology Essay Example | Topics and Well Written Essays - 500 words

Plant Physiology - Essay Example White sorghum plants are sweeter than red sorghum plants, and they are used as grain crops. Red sorghum plants are less tasty than white sorghum plants. However, red sorghum plants are beneficial to farmers in that birds are less likely to attack and eat them, and they make good beer. Sorghum plants are usually planted directly from the seeds in rows, and they are planted in the spring. The plants grow in a variety of soils and are drought resistant. However, sorghum plants will grow better in soil that has been fertilized on the preset. The characteristics of sorghum plants having originated in hot temperatures of Africa, being field crops, having the appearance of "cane-grass" and being drought resistant make the plants susceptible to stressful environments because the sorghum plants have the capability of being clustered together in a group, meaning that the plants are close enough where they can generate energy from the other plants. Also, they have the appearance of "cane-grass" helping them to be tall enough to withstand and guard the neighboring plants from the harsh temperatures. Also, since the sorghum plants are drought resistant, they have the capability to go without water for long periods of time.

Economics assignment (short answer questions) Example | Topics and Well Written Essays - 1000 words

Economics (short answer questions) - Assignment Example This is because many workers are unwilling to take pay cuts hence inflation helps to reduce the purchasing power of their paychecks. In the ‘Deck the Halls with Macro Follies’ video, two main ideas or arguments in relation to the growth of the economy are presented. First, it is argued that spending does not help grow the economy. Contrary to what many believe, excessive consumption does not contribute towards economic recovery. Secondly, in order for meaningful and sustained growth to be realized, there is need to delay consumption today and concentrate on saving. This will help increase production which helps the economy to grow since growth is facilitated by supply. Too much spending is not good for the economy. In his book End this Depression now, Krugman argues that Europe’s ‘Big Delusion’ is the belief that the economic crisis in Europe was as a result of fiscal irresponsibility. It is the belief that countries operated on budget deficits and this go them into debt. As a result, the approach to dealing with the crisis has more or less been a moral one where countries are believed to have sinned. Focus has been on this big delusion and little attention has been given to other evidence. The V Sauce video ‘How Much Money is there on Earth’ highlights a number of ideas related to money and world currencies. Two major things were learnt from the video. First, there is a lot of money kept by individuals as loose change. This money, if collected, can be put to good use. For example the loose change in America is estimated to be 15B dollars. In addition, I have learnt about the definitions of money on the planet: M0, M1, M2 and M3. Secondly, I have learnt about the Tinkerbell effect. This is the belief that money is valuable, and this helps to attach meaning and value to FIAT money. The main objective of advertising is to sell. It helps to communicate information aimed at persuading consumers to buy. Companies decide to place an ad in the

Working Impression Case Study Example | Topics and Well Written Essays - 1250 words

Working Impression - Case Study Example If the working impression holds after confirmatory test/s, then it will hold to be the diagnosis, and the future steps will be dedicated onto eradicating the sources and treating the symptoms accordingly. However, if the PWI turns out not to be the diagnosis, then the differentials will then be tested, so that the primary root of the chief complaint be identified. Treatment will thus be planned based on the definitive diagnosis. Working Impression In coming up with our primary impression, we should look into the information we have for any pertinent data. In summary, we have four female employees of a food distribution warehouse facility who complain of dizziness. They conduct blister packing in an area with a 40Â °F temperature, and two railroad car lines and gas-powered forklifts nearby. The facility also has a special seal that insulates in the cold temperature needed for storage. There was no noticeable odor, nor there mention of a ventilating system for the area. Because multip le cases (four) have been reported in the facility, we consider this as an occupational health issue. Because of the nature of their work, the only possible factors that might have caused dizziness are inhalation of toxic fumes, exposure to chemicals from the food products, and the cold temperature (40Â °F). Because there are no reports of food poisoning caused by the products of the facility, then we can rule out the second factor. In considering the presence of toxic fumes, we must take note that the suspected inhalant must be odorless and colorless. In addition, the special insulating system in the warehouse might have been contributing in keeping the toxic fumes in the facility. A possible source of such fumes must be established, and the symptoms observed in our case should be explained by its presence. With these qualifications, we take carbon monoxide (CO) poisoning as our primary working impression. CO is an odorless, colorless gas that may come from the incomplete burning of organic substances such as gasoline, kerosene, oil, propane coal or wood (Canadian Centre for Occupational Health and Safety, 2008; WorkSafe Victoria, 2008). In our case, CO may have been emitted by the car and forklift exhaust and possibly, a kerosene-powered heater, although the presence of such equipment must first be verified. CO gas interferes with the oxygenation of red blood cells and subsequently of tissues such as the brain, causing dizziness. Other symptoms include chest pains, headache, fatigue, dizziness, drowsiness or nausea. Prolonged exposure may result to weakness, vomiting, confusion, loss of consciousness, coma, and death (Canadian Centre for Occupational Health and Safety, 2008). Differential Diagnoses It is important to consider other causes of the incidents, as the PWI might not be the root cause, or there are environmental conditions that may cause harm to the employees. Low oxygen levels In preserving food products, it is important to have a room wherein ox ygen levels can be kept at a low level (1% to 2%) to prevent the growth of aerobic microorganisms that compromise the quality of food products. This room is referred to as a controlled atmosphere (CA) room. Inhalation of this highly deoxygenated atmosphere from CA room has detrimental consequences to employees, who need oxygen levels of 19.5% to 23.5% to survive. In fact, inhaling a single breath of this highly deoxygenated atmosphere will result to instantaneous loss of consciousness, with consequent brain and health injuries. Employees who work near a CA room are thus susceptible to health risks (WorkSafe Victoria, 2008). If a CA room is present in the warehouse, then this diagnosis is highly likely. Ammonia The cooling condition exposes the employees to many factors. One of

Introduction to Strategic Management Report Essay

Introduction to Strategic Management Report - Essay Example The companies include Lexus, Daihatsu, and Hino Motors among others. A recent study shows that Toyota has sold over more than 12 million cars. The company also manufactures forklifts, buses, industrial equipment, and buses. Toyota has a large market in North America. The United States of America is a host to five plants of the Toyota Company. The locations are in Buffalo, West Virginia; San Antonio, Texas; Huntsville, Alabama, Georgetown, Kentucky and Princeton, Indiana. Early imports from Japan like the Toyopet did not make large sales due to their small size. However, due to energy crisis in the 1970s, Americans and other countries imported Toyota cars because of their fuel efficiency and lower price compared to other cars in the automobile industry. The rise of fuel prices and side effects of global warming prompted the company to manufacture fuel efficient cars. The recent brands like Highlander, Camry and Prius are a proof of the firm’s objective to make fuel efficient ve hicles. The vehicles serve the current global market that requires cost efficient and effective cars. An international business is an enterprise or entity that is involved in commercial transactions in two or more than two countries. An international business cuts across boundaries in doing business. The business environments are the surrounding factors that influence the business performance (Fry et.al, 2009). The business environment can have a number of impacts on a business. Toyota Motor Corporation falls into this category. Before introducing a business venture in a foreign land, it is imperative to study the business environment to establish the feasibility of the particular business. The economic factors in a given country will influence the habits of the consumer. A good economy is one that has empowered consumers to purchase products they demand thus satisfy their needs. Recession and Inflation influence the purchasing power of

Fire Protection Hydraulics and water supply Essay - 2

Fire Protection Hydraulics and water supply - Essay Example Conversely, the elevation pressure must be decreased in order to maintain the level of the forward pressure. These adjustments are done by controlling the flow and turning the nozzle in order to get the elevation pressure required. To relieve the backpressure, the nozzle is turned downward, while in order to relieve the forward pressure, the nozzle is turned upward (Cote, 2003). In a Fire protection system, the backpressure and the forward pressure must be properly controlled in order to maintain a particular quantity of fluid that passes through the nozzle. This is done effectively by controlling the elevation pressure (Cote, 2003). If the backpressure and the forward pressure are not adequately controlled, the fire protection system would definitely not function properly. In essence, the knowledge of the amount of elevation pressure that is required to produce a particular amount of backpressure and forward pressure is of high importance as this would go a long way in making the fire protection hydraulic system more

Hitler's greatest mistake Research Paper Example | Topics and Well Written Essays - 750 words

Hitler's greatest mistake - Research Paper Example Hitler was very much overconfident about invading Russia. The troop was not provided with winter clothing or equipments. More than half of Germen troops were frozen to death. The invasion was started on three fronts, in the south towards the Ukraine, in the north towards Leningrad, and centre towards Moscow. The moves were initially considered as successful advances. Within few days the Luftwaffe achieved air supremacy. German troops started encircling Russian defenders. Nazi legions soon conquered 1200 tanks and 600 big guns. They also gained more than 150,000 prisoners. Hitler attempted to control Russia to a great extent. Their crucial aim was to gain control over Leningrad-Moscow-Volga line. Germany’s three-pronged invasion was intended for seizing production areas in Ukraine and the Donetz basin. Germany’s plans were to acquire mineral deposits, oil and grain. They attempted to capture the Black and Baltic seas. Russian citizens were encouraged to accept the ‘scorched policy’. They were instructed that if they were forced to evacuate from their place they should not leave anything behind. They should evacuate fully. Germans at the same time started feeling trouble as weather was becoming disadvantageous for them. Russian partisan groups were gaining strength as they began imposing big tolls on supply convoys. Germans gained control over Riga, Smolensk and Kiev. They invaded Stalingrad to acquire the oilfields of Cacasus in August 1942.

Strategy and Performance Management at DSM Essay

Strategy and Performance Management at DSM - Essay Example The final KSF is important from the point of view of the merchant players. Low cost and security from sales is essential for them (Cai, et al, 2009). The KSFs can be linked with each other, if some of the steps of performance management are implemented within the system of DSM. The process of performance management consists of five steps. The steps consists of planning, developing, monitoring, rating and finally development planning. Among the various steps, planning, developing and rating is important from the perspective of DSM. This is because, all the selected steps are essential to enhance the KSFs and helps in ensuring integration within the factors (Armstrong & Baron, 2000). The suggested process consists of planning, developing and rating. Analyzing the processes would justify the rationale behind the suggestions. The three suggested steps are also linked with each other. The adoption of these steps within the system would help DSM to amalgamate the KSFs effectively. Planning is essential in an organization as it is the main factor that helps in properly allocating the resources of a company. Planning ensures that the company capitalizes on the opportunities available to it and the process is done in a cost effective way. Proper planning helps to meet the requirements of the customers. The demands of the customers can be fulfilled if proper production plans are designed. Efficient distribution of sales will be ensured if planning is done in the process of identifying potential target customers (Cai, et al, 2009). The second step involves activities that are related to efficient development of ideas and techniques. This step is connected to the first st ep. If proper planning is not done, the development process will also not be productive. Development is also an integral step in the process of performance management. Innovative techniques of production have to be developed in order to gain comparative advantage in the

The Backscatter X-Ray Essay Example for Free

The Backscatter X-Ray Essay The backscatter X-ray is the right choice when compared to traditional X-rays or metal detectors. On December 27, 2006, the author, Thomas Frank,whom is the aviation security correspondant for USA Today, wrote, X-ray Tests Both Security, Privacy, and made valid points concerning the fear of radiation, how easily it finds metal guns and knives, and the provacy issue that surrounds X-ray technology (5). Throughout this essay Thomas Frank was able to write about the facts surrounding X-rays and keep hs opinion out of the article therefore giving his readers the chance to form their own belief. This essay was written to analyze which belief to choose. Should the public be against the backscatter X-ray because of radiation exposure or is safety against terrorists the better option? The fear of over-exposure to radiation is laughable at best. Its like being out in the sun for 15 to 20 minutes (5). Being out in the sun can in reality be a good thing. Through sunlight the body absorbs vitamin D which is needed for strong bones and teeth. Everyone gets sun exposure on an everyday basis. Its not a bad thing to have a little sun. Take people whom use artificial light to tan. A waiver must be signed before exposing the body to the light. This waiver states that skin cancer may occur with use; eye damage is possible with exposure. Tanners sign this form without another thought because artificial light is the same as being out in the sun. A waiver is not availabe for people to sign at the airport. Why is this? Is it because radiation damage is higher with artificial light thereby being higher with sunlight versus the backscatter X-ray? If so, should the public stay inside their house and avoid sunlight at all cost? They are foolproof when it comes to finding metal guns and metal knives (6). Clark Kent Ervin whom is the former Homeland Security Department inspector said during the interview. He stated, screeners repeatedly missed hidden weapons (6). If screeners are missing hidden weapons wouldnt the obvious choice be to use the backscatter X-ray? Isnt the publics safety more important? Our airport security has already been compromised once with September 11 . If there is anything that can prevent that from happening again then it should be done. Our safety is top priority. Backscatter X-rays dont show anything on the body deemed indecent. It only shows whats carried on the body. People really need to understand that the Transportation Security Administration (TSA) is putting in place technologythat does in fact do a digital strip search and stores those images at least temporarily, said Marc Rotenberg of the Electronic Privacy Information Center (5). Temporarily is the key. Whom cares about a picture being taken as long as its temporary? Its not as if the image is going to be stored forever and displayed worldwide. The TSA, however, says the images are cartoonlike sketches that show only outlines of each passenger and are never stored (5). The images arent stored so the public doesnt need to worry about the images being released. Cartoonlike sketches means that its not even a real human body. It doesnt look like a person at all. Its just an outline that looks cartoonlike at that. Theres nothing wrong with cartoons. I grew up watching them as a child as did many others. $100,000 backscatter machine finds many weapons missed by screeners and metal detectors (6). Finding weapons as soon as possible can be the difference between life and death. A machine that finds weapons more often than not should be used in place of a machine that is likely to miss. Although the backscatter X-ray is not going to catch everything that it scans it will make it harder for terrorists to sneak weapons on a plane. The object is not to prevent everything that can conceivably happen, he said, the object is to make it difficult (6). The fact claim the author is making is supported by the examples given in the article. Some examples include quotes from Marc Rotenberg and Frank Cerra. The warrant that connects the fact claim and support are digital strip search (5) and being out in thesun for 15 to 20 minutes (5). It seems these details were said to persuade the interviewer and readers of this article. Someone would need 2,500 backscatter scans a year before reaching the limits of safe radiation exposure (5). These guidelines are provided by the National Council on Radiation Protection and Measurements so therefore even frequent flyers will be protected from over-exposure to radiation. In closing, the authors fact claim of backscatter X-ry versus regular X-ray and metal detectors have been clearly stated. He went into detail giving both sides concerning radiation, worth, and privacy. Overall the essay was an effective argument that gave information from both sides equally. With public safety a concern the conflicts that arise concerning this matter should be of no importance. The public has a right to be protected no matter what it takes.

Teenager Appeal of Rock Music in the 1950 Essay Example for Free

Teenager Appeal of Rock Music in the 1950 Essay The appeal of rock music in the 1950’s is largely due to the ending of World War 2. The ending of World War 2 sparked more interests in what is the social norm. Abundant about of people coming back from the war wanted to start families. The baby boom increased the about of kids in America drastically. These kids of the baby boom started a new age class in America, the â€Å"teenager†. Prior to World War 2 most of the youth in America was ether working or joining the military to fight the war in Europe. There was never an actually teenager stereo type. Due to the baby boom after the war, there were more teenagers than ever before with little or nothing to do. Nothing was marketed to the teenager. During the war many toy companies directed there attention towards the war’s needs. The age of the teenager was new to American culture. There was generational gap for the social norm of boys and girls. Children were starting to become more independent. Mothers of children stated to join the working class leaving older children to start developing their own social class. Conformity and the desire to reject change were very common in the 1950s. When the teenager came about many of them had their own style and seemed to be rebellious. After the war there were many new technologies that were available to the teenager. The invention of the television and mass transportation made the biggest impact. The ability to hear outside influences and the ability to travel gave the teenager a broader spectrum of life. There was draw to blues and jazz music of the African American people because of its upbeat style. However it wasn’t until Elvis Presley came out that the draw of rock music took off. A white singer that sounded like a black singer was solid gold. With Elvis Presley style of music it appealed to the growing social class of the teenager. With the age of segregation at its peak it came as no surprise that the older generation saw rock music as corrupting the youth. Many people claimed that rock music was the sole reason there was a growing existences of juvenile delinquency. It seemed the more people spoke out against rock music the more popular rock music became. The teenager social class was growing every day and had become bigger than ever seen in the United States. The movie â€Å"Rebel Without a Cause† had come out depicting how rebel looks and acts, and many teenagers mimicked how that character acted and dressed. This became the norm of how teenagers acted. In conclusion the reason that rock and roll music was so appealing was its inherent draw to rebel against the older generation. The slow tempo music of old was not suiting for the teenager. The upbeat music and its African American roots was the perfect storm for teenagers to rebel. The amount of teenagers in America was higher than ever and with the core audience of rock and roll music being teenagers it’s no wonder that rock and roll music took off.

Environmental factors faced by dell and its competitors business essay

Environmental factors faced by dell and its competitors business essay The Dell Computer Company so far is been considered the most successful business company in the world among those that are in market for the past twenty years. In 2005, the company was titled the Number 1 Personal Computer vendor in the world besides being an unknown start-up in 1984.With its unique strategy of doing business, it has enabled itself to be the highlight of the computer industry comprising of some big giants including HP, IBM and Microsoft. Dell has maintained its sustainability and competitive advantage by using its superior customer service and market leadership and strong financial results. Environmental Analysis Internal Environment Dell has developed its structure on the concept of 3-m model. As Dell is a multidivisional company with different operating divisions representing separate profit centers, it implements the cooperative form of related constrained strategy. Dells corporate utilization consists of sharing of RD, finance, marketing, human resources, manufacturing, and information systems. This combination is possible because Dell pride itself on a flat corporate structure that encourages each worker to contribute innovative ideas (Martinsons). Core Competencies Cost Differentiation strategy Dell has remained consistent in being a cost leader in the industry and yet provide high quality PCs by using its Direct Business Model approach. This model helped Dell to keep just- in-time manufacturing, built-to-order products, low inventory and direct customer relationship with manufacturer. It also enabled Dell to cut out the intermediary costs. Build-To-Customer Order Dell has enabled to excel in another advantage over its competitors by including in its operating system the build to customer order strategy to sell PCs directly to customers. This has resulted in Dell being able to understand the customers needs better and providing the solutions that are most effective for meeting customers need. Dell has a direct dealing with its customers, suppliers and communicates directly with employees. Companys market penetration is sustained by this simple concept. Just-In-Time (JIT) Inventory The third core competency of Dell operating system or internal environment is its JIT inventory system using which has enabled Dell to meet the customers requirements within time and by using fresh inventories (less than five days old). This inventory period saves time and money for Dell. Surplus supplies cause extra costs so Dell saves this extra costs for its customers with the added advantage of custom designs for the customers. SWOT Analysis External Environment Dells external environment can be classified under three components: The Remote Environment The Remote environment is made up of economic, technological, ecological, social and political, factors. Dell faced healthy economic conditions in US till 2008 but after the crisis due to the recession in US markets the sales revenue was affected by decreased demand. This impact later affected the global revenues as the impact of crisis spread globally to other markets. There are no significant political pressures faced by Dell. Its technological environment is a rapidly changing one where its important to cope up with the advancements. The Industry Environment   The industry environment is composed of bargaining power of customers, supplier power, and threats of the substitute availability, entry barriers and competitive rivalry. Dells industry structure is highly competitive and is explained through Porter 5 force analysis. The Operating Environment The operating environment is made up of competitors, customers, labor, and suppliers. Fir the customers of Dell, it is a quality brand at a good price. Its competitive environment is intense with major brands like HP, Sun and IBM fighting neck to neck globally with Dell with very less price and quality differences. This has raised the effort for Dell to provide its customers with a unique value package that others dont offer. One of such efforts made by Dell is not using Microsofts operating system which other computer brands do, but this is considered a weakness compared to the rest. Other factors where Dell has enabled to manage the lead are: Price for Performance Dells procurement, distribution and manufacturing processes allow the company to offer powerful systems and services at prices better than competitors. Customization Every single order is built according to the individual requirements of the customers as customization is always been an asset for Dell. Service, Support and Reliability Dells services that are provided directly to the customers have allowed company to give high customer satisfaction before and after the sale. Latest Technology Latest technology is an essence of Dells strategy and this strategy has enabled Dell to stand out among all the competitors who are still relying upon indirect distribution channels. The inventory turnover of Dell is on average of six days which helps in keeping low inventory costs. Porter 5 Forces Model Summing up the External Environment of Dell, it can be said that with the operating system implemented by Dell, which includes its direct selling and build to customer order, Dell has managed to increase its sales each year and is among the top competitors of computer market. Its different approaches have allowed Dell to enter into this highly competitive market in a unique way. Dells sales are increasing dramatically which shows it is moving in the right direction However, threats from market rivalry, intensity of competition and bargaining power of suppliers and buyers is an acute issue and thus requires Dell to keep formulating hard core and sustainable operational and selling strategy in terms of the value it provides to its customers (Byrnes, 2003). Dells Business Level Strategy The market was already much fragmented when Dell entered in 1984 and had reached the maturity limit. At that time, Dell entered with its unique direct selling model which gave it a competitive edge through its low selling price. Dell has always looked to the market trends as an aid for the development of new products as the overall market for IT and related products is influenced by trends. Now customers are more aware and educated about their purchases ad so they want increased customization, portability and durability, creating a constant need for Dell to meet their demands. The competitors are also much efficient in responding to changing trends of market and to any strategy opted to get part of their market share. Thus Dell also needs to take care of this issue of intense market competition. From start till yet, the base of Dells Business Strategy is giving its customers a superior feel in what they are buying by providing them with made to customer order products at low prices and fast delivery. This strategy, although tried to be replicated by many others, has enabled Dell to sustain the intense and changing threats from market and be able to increase the scope of its operations from US to almost everywhere globally (Byrnes, 2003). Recommendations for Dell Improve few features in Dells product differentiation strategies. Control RD patents: Dependency on extreme standardization and outsourcing must be reduced. Innovative services must be introduced instead of services based on packages without patents. Affiliate with other players in market to achieve better advantages and compete using combination of huge range of products. Its simple website e-business presence might not be enough. Rethink its Virtual Network by moving from the short term outsourcing in value chain activities to lessen prices to a more appropriate long run effective idea to be better able to meet competitors. Moving from Hardware to Software would be another good option which can allow Dell to start developing proprietary software. Functional Strategies Some functional level recommendations are: Enhance customer experience by making corresponding products available at its website. Another improvement to be made can be of increasing the market share in educational market by exploring ways to generate attention from education markets particularly college students by either using product differentiation through more aggressive sales marketing. (Cuizon, 2009) Dell may use social networking sites for advertising. Conclusion Dell is working in an extremely intense market for personal computers, particularly laptops now. The industry is driven by ever changing consumer needs and demands and thus for companies like Dell, it requires constant effort to keep up with the adaptation so as to satisfy the changing needs of customers. Dell, with the help of its strengths, keeping close eye on weaknesses and investing properly in opportunities while coping with threats from macro-environment can enable itself to position and sustain itself as a significant player in the intensely competitive market.

My Educational Philosophy Essay -- Philosophy of Education Teachers Te

My Educational Philosophy Plato/Socrates and Rousseau have become major philosophical approaches. All these opinions are different compared to mine. Some are the same and some are different. I do agree with some of the philosophers’ points, but some I disagree with. My philosophical view relates to some of the philosophers views. First, Socrates (469-399 B.C.) view is on asking students repeatedly questions to make them rethink what they believe. He wanted to help others find the truths that lie within their minds. His questions dealt with the nature of love or the good. He wanted to help his students develop guides to a virtuous life. I agree with this to a certain degree. Helping students develop a guide to a virtuous life is good. Repeatedly asking students questions about "love" or the "good" is not a good approach. I think students have learned as they live. You have to learn through what you go through. Live and learn is a good philosophy. You have to think and learn before you react to something. Pushing a human to learn is not going to make them learn. Experience contributes to learning. It is a big part of learning. Thinking is also a big part. Plato is a philosopher whose view I partly agree with also. Plato believed that the human soul has three parts: intellect (reason), spirit (passion), and appetite (basic animal desires). This was his philosophy on life. He is right. We have reason to figure it out. There is a reason for everything. There is a reason why everything happens the way it does. If there was no reason, what is the purpose for anything? Spirit (passion) is also a true philosophy. Every human has the desire for passion. A hobby is a passion. A lover is a passion. Appetite (basic animal desires) ... ...em through it. The rules in the classroom are very important. There should be few and strict rules. If there were no rules, the teachers would get ran over by the students. The children need to know their limits in the classroom. They need to know who is in control. Although I have disagreed with some of Rousseau's views, I agree with most of them. Rousseau's philosophies are mainly what I agree with most. He was a great philosopher and he will follow me through my teaching career. I hope someday my ways of teaching, how I go about it, and what I teach, will reflect someone's life. I hope the student's look at me as a great teacher and someday they will look back on me and say "she taught me something I need to know for the rest of my life." I want to be one of the teacher's who are looked back on. I plan to peruse my teaching career. I am very excited about it.

Results of Child Abuse Survey :: Primary Research on Child Abuse

The primary method was conducted using a series of distributed questionnaires to children for my research. The reasons why I used questionnaires are because I think I will obtain appropriate and honest responses which relates to their personal experiences. The data collected was then categorized by data into gender, age from age 8 to10, age 11 to 13, age 14 to16, age 17 to 19 and type of abuse. The surveys were equally distributed, a total of 13 surveys were handed out to children between 8-18 years of age that have been victims of child abuse/ neglect. The questionnaire consisted of 22 questions divided into five parts: multiple choice, background, open, rank order and attitude questions. The answers to most questions were suggested for consistency, and they could be ticked in boxes in a multiple choice format. This survey looked at two different groups of children, males and females. The aim of this research is to find out if child abuse has an effect on the intellectual and emotio nal development of the child and if it has effect on their adulthood. Primary Research Findings The respondents were asked 22 questions in the questionnaires. In the questionnaire I asked their age group, gender, who their abuser was, if the child was abused physically, sexually, emotionally, or psychologically and if they were mistreated because their parent or parents were abused as a child. I also asked if the child was ever arrested or charged for a criminal act and if answered yes then what was the reason why they arrested or charged. I surveyed The information gotten from the respondents is most out of 13 children 40 percent of them are between the ages of 8 to10 and 29 percent were between the ages of 11to13 and 31 percent abused between the ages of 14 to 16. I have found out that out of 13 children 6 of them are females that are victims of child abuse and the remaining children are males. Most of the children were abused by a step-parent or a parent. One of the important information that I have found out is that majority of the children were physically or emotionally ab used as a child at times and very often. Most of the children reported that they were either being mistreated by a parent(s) who were abused as a child or the abuser have problems with drugs or alcohol.

A Guard on Religious Freedom Essay examples -- essays research papers

Persuasive Essay #1   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  A Guard on Religious Freedom In the eyes of our founding fathers, few things seemed as important as the separation of church and state. The first amendment grants all Americans the freedom to subscribe to any religion they wish and promises that the government will not promote any religion above any other. Although the separation of church and state and the freedom of religion are firmly and concretely secured in the Constitution of the United States, events in the recent past bring to question whether this ideal is under threat of losing its place as an American standard. A recent controversy that brings to light the threat of the separation of church and state is the debate over the words â€Å"one nation under God† in the pledge of allegiance. A review of current event programs when the offense first unfolded showed few other stories as important as an attack on our separation of church and state. Although maintaining a critical eye on our rights and assuring that no true threats develop on one of the cornerstones of the country, it is important to also keep in perspective whether a true infraction has taken place. On several American artifacts you can find a reference to God. However, taking offense to these references is counterproductive and overly sensitive. First, the God mentioned on these American artifacts is a generic God and only means that the collective A...

American Fast Food in Korea Essay

1. Base on market information for Asia Pacific, we can made conclusion that business future in Asian region has to have bright future. With 33% of the world’s GDP and 50% of its population, Asia has emerged as a rapidly growing force in the global economy. Due to the cultural diversity, regulatory controls, growing base of consumer power and its own set of business â€Å"rules,† the multinational corporations (MNCs) find it challenging to enter the Asian market successfully. Most MNCs are reassessing their existing strategies or formulating new strategies to sustain their growth (4). With regional exports exceeding $1. 3 trillion, the East Asia and Pacific region’s share of trade in GDP is the highest in the world. (Global Development. Finance Report. 2006). The economy of South Korea has grown in the last 35 years. Per capita GNP only $100 in 1963, exceeded $20,000 USD in 2005. South Korea is now one of the world’s largest economies (as of 2006, it is 14th in the world according to GDP). (2). If we will compare Korean market to East Asian countries (Exhibit 1 p. 12). From report I have strong understanding that mane fast-food market in any Asian countries is in big cities. Let’s check urban population level in all Asian countries. Based on Exhibit 1 we can clearly see that Korea has one of the best Urban Population level-total population level 47. 6 million and urban population is 82%. Check GDP and GNI level. We can see that Korean level one of the highest in the Asia. Nominal GDP (2005 est. ): $811. 1 billion. GDP growth rate: 2003, 3. 1%; 2004, 4. 6%; 2005, 4. 0%. Per capita GNI (2004): $14, 162. (5). In 1997 Korea had some serious economic crises and faced sever difficulties. After some structural reforms in Korean government, economy starts to recovery. Already In 2001 Korea was 13th largest economy in the world with GNP of $398 billion. So based on all information from above I can make conclusion that Korea has good future and it is one of the most promising market in Asian region. 2. Porter’s Five Forces have become a yardstick for assessing industry profitability. They are†¦ ?Buyers’/customers’ power ?Suppliers’ power ?Rivalry among competitors ?Threat of new entrants ?Threat of substitute products I will try to analyze each one, for Korean fast food market. Buyers ‘power. The power of buyers is the impact that customers have on fast food industry. Buyers could be powerful in different circumstances. I believe that in our case we can say that buyers are concentrated. As I could explain earlier, main per cent of population in Korea are in the big cities. Its give us good idea that for fast food industry in this region will be easier to delivery product to the customers. Buyers purchase the significant proportion of output. Suppliers power. A fast food industry require raw material for there business-labor, components. It leads to buyer-supplier relationship between the fast food industry and the firms that provide it the raw materials used to create products. Suppliers are powerful if they are concentrated- it will be really expensive to switch the supplier. From another side suppliers are week if it will be many suppliers with standard product on the market Korean agriculture sector includes forestry and fisheries. National products are rice, vegetables, fruit, root crops, barley; cattle, pigs, chickens, milk, eggs, fish. About 20% of the land used for agricultural busyness (5). From here we can understand that for fast food companies will be easy to find or switch the suppliers without problems for there businesses. Threat of new entrants. The possibility that new firms may enter the industry also affects competition. In theory any firm should be able to enter and exit market. And if free entrance and exit exists, than profit always should be nominal. There are some barriers of entry. Easy to entry if: little brand franchise; access to distribution channels; common technology. On Korean market steal not allot firms with brand franchise. And it is big requirement in new choices for customers. It let us know that it will be easy to enter to the market. Threat of substitute products. Product price elasticity is affected by substitute products-as more substitute become available, the demand becomes more elastic since customers have more alternatives. A close substitute product constrains the ability of firms in an industry to raise prices. In our case we can see example of some firms, Lotteria and McDonalds, who easy change there recipes for Korean customers which needs more healthy national ingredients for there food. Rivalry among competitors. In pursuing an advantage over its rivals, a firm can choose from several competitive moves: changing prices; improving product; creatively using channels of distribution; exploiting relationship with supplier. For firm who will try to enter Korean market, I would say more realistic and more helpful move will be to improve products. Improving quality of materials, quality of services, and probably quality of food preparation technology (healthier environment), will be most important key to success on the Korean fest food market. 3. Urban Koreans eat out frequently. Fast paced lifestyles are driving Koreans to choose western-style fast-food, but healthy eating is a concern. These factors are driving a fast growing market for sandwich store franchising (3). Another important factor is that about 75%-80% fast food customers are young people whose age less than 20 year old. It is mean that â€Å"along with westernization of Korean taste, western chain gained in popularity†. In the past, people seeking a fast meal would have been satisfied by fast-food giants like McDonald’s or Burger King, but it is changing. Consumers are seeking different choices. This new requirements has opened doors for a steadily growing market for fresh and healthy sandwich businesses. Lotteria is a local hamburger franchiser and is the fast-food market leader in Korea. From 2002 to 2003 Lotteria experienced a sharp sales drop of 40%. However, a strong contrast was seen in the South Korean sandwich market, as its $41. 20 million1 market value in the second quarter of 2003 doubled to $82. 40 million in the fourth quarter. This dramatic growth is forecast to continue, and the anticipated market value for 2004 is $117. 71 million (3) Besides Lotteria, the local franchisers include Sandday, Sandpresso and Sand & Food. In response to the aggressive foreign companies, they are also coming up with strategies to secure their position within the market, and the competition is about to heat up. Based on all this information I would say that fast food business in Korea growing and this will continue until people need more choices. 4Globalization is the key to sustained growth for Yum Company! Brands, the world’s biggest quick-service restaurant company headquartered in the United States and managing five fast food brands – KFC, Pizza Hut, Taco Bell, A&W and Long John Silver’s. â€Å"Demand for fast food is rising because lifestyles are changing,’’ said Allan, who leads overseas operations outside of the U. S.and China, in a recent interview with The Korea Times. More Koreans are being time pressured than they were historically. This trend is happening here. The number of people eating ready made food is continuing to increase. ’’(Graham Allan, president of Yum! Restaurants International. 11. 06. 2006) (6). As a socially responsible company, the 51-year-old executive said Yum will provide more optional dishes to health-conscious consumers amid a well-being spree in the nation, but will not abandon its traditional concept of â€Å"great taste. ’’ Under his leadership, Allan said he will target an annual growth of 10 percent or more in operating profits. There are about 250 Pizza Hut delivery outlets in the nation, which are set to expand to over 400. Korea makes up about 5 percent of Yum’s international division sales, which amount to some $11 billion – half of the group’s overall system sales. If I were business consultant, I would recommend starting making money on Korean fast food market. The new trend is propelling growth in the franchising market. It is anticipated that the market will experience intense competition for the next couple years. New fast food companies should be able to take advantage of the situation and enter the market without much difficulty, while it is still at an early stage of development. Reference page: 1. http://www. iff. com/Internet. nsf/0/B7A5C7E9B662B52685256D02006683DA 2. http://www. answers. com/topic/economy-of-south-korea 3. http://ats. agr. ca/asia/3879_e. htm 4. www. berkeleyabc. org/2006/ 5. http://www. state. gov/r/pa/ei/bgn/2800. htm 6. http://times. hankooki. com/lpage/biz/200611/kt2006110617463411890. htm.