Chandlers Model of Integrated Managerial Enterprise

Introduction In the 18th century, most of the US companies operated as small enterprises that were directly operated by the owners. However, this trend changed after increased industrialization led to introduction of new technologies for production and transportation (Rodriguez 2009, pp. 284-298).Advertising We will write a custom essay sample on Chandler’s Model of Integrated Managerial Enterprise specifically for you for only $16.05 $11/page Learn More Additionally, the demand for goods and services increased as businesses discovered new overseas markets. As a result, large multinational companies emerged whose operations were mainly controlled by managers (Jeffs 2008, p. 89). Neoclassical economists attribute the rise and organization of large firms to the ability of entrepreneurs to respond effectively to the dictates of the invisible hand of the competitive market. By contrast, Chandler and his school of thought attribute the rise and organiz ation of large firms to the managerial revolution, which replaced the invisible hand of the market (Fruin 2009, pp. 261-271). This paper will shed light on the extent to which Chandler’s model of integrated managerial enterprise explain the organization of large companies in major economies. It will also analyze the model’s ability to explain the competitiveness of nations. Integrated Managerial Enterprise Model Managerial enterprise refers to â€Å"large industrial/ business concerns in which operating and investment decisions are made by a hierarchy of salaried managers who report to a board of directors† (Rodriguez, Eisenhardt McKenna 2002, pp. 20-26). The organizational structure of the modern business enterprise has various operating units with their own offices, managers, and systems of accountability. According to Chandler, modern businesses adopt a centralized managerial hierarchy because the decentralized market system is not effective as companies exp and (Rodriguez, Eisenhardt McKenna 2002, pp. 20-26). Large companies believe that the centralized managerial hierarchy will improve their competitiveness by facilitating economies of scale and scope, as well as, generation of new knowledge. The gains outlined in the foregoing paragraph could only be realized after technological advancements led to development of railroads and telegraphs, as well as, utilization of coal (Fruin 2009, pp. 261-271). These technologies led to increased production. Thus, management hierarchies (visible hand) had to be established to supervise and to coordinate production processes (Rodriguez, Eisenhardt McKenna 2002, pp. 20-26). Extent to Which the Model Explain the Organization of Large Companies The Managerial Hierarchies Virtually all large companies in advanced economies have adopted an organizational structure with different levels of management and business units. The functional organizational structure can be identified in nearly every company.Ad vertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More All large companies in advanced economies have departments, which are responsible for specific functions such as marketing, production, and human resource management (Ingham 2009, pp. 1-12). The heads of these departments often report to a higher level of management. For instance, they can report to the chief operations officer (COO) or the chief executive officer (CEO). Given the increase in competition, large companies that produce several products that are often unrelated have opted to adopt a multidivisional organizational structure. In this case, the company is organized into divisions that are responsible for serving specific markets (Caves 1980, pp. 64-92). Each division has several departments whose heads report to a single coordinating officer. The coordinator is responsible for appraising the performance of the division and developing long-term growth plans for the division (Fruin 2009, pp. 261-271). The head of each division reports to the CEO of the company. The multidivisional structure enables large companies to improve the brand equity of each of their products and to achieve economies of scale (Ingham 2009, pp. 1-12). Companies that have adopted the multidivisional organizational structure include Disney, AIG, and General Motors. The holding company organizational structure is also common among large multinational companies. This organizational structure is used by companies to invest in unrelated businesses in various parts of the world. For instance, the AP Moller Group has four companies that are engaged in different businesses such as shipping, mining, oil distribution, and managing port facilities. The holding company organizational structure enables large companies to diversify their revenue streams by investing in different industries (Freeman 2010, p. 134). Although the hierarchical management syst em has been adopted by all large companies, its application varies from region to region. The managerial form of a business enterprise envisioned by Chandler has not emerged in many Asian economies such as Japan, India, New Zealand, and China.Advertising We will write a custom essay sample on Chandler’s Model of Integrated Managerial Enterprise specifically for you for only $16.05 $11/page Learn More In China, most large companies are still owned and controlled by the founding families (Mesure 2007, pp. 219-220). Most Chinese large companies are controlled by the head of the founding family who uses his networks and relations to manage the business. Thus, the governance structure of Chinese firms, especially, at the top is unstructured. In some cases, the activities of large companies are supervised by loose and flexible groups who advise the owner (Mesure 2007, pp. 219-220). This organizational system suggests that large Chinese companies are st ill using the traditional structure. Personal Capitalism The success of Chinese companies suggests that Chandler’s analysis of British firms is biased. He argues that British companies were reluctant to establish effective management systems to undertake functions such as mass production and mass marketing (Fruin 2009, pp. 261-271). Consequently, British companies lost their competitiveness to the German and the US companies that had clear separation of management and ownership. However, the failure of British companies in the 20th century was not necessarily because of personal capitalism. The companies might have failed due to technological challenges and market dynamics rather than the inability of their owners to invest in managerial capabilities (Fridenson 2004, pp. 564-569). Chandler did to consider the role of national characteristics in determining the success of businesses. For instance, the large size of the US economy and availability of effective financial systems led to the emergence of large firms. By contrast, the small size of the British economy inhibited the growth of its companies. In Japan, multinationals such as Toyota are still owned and managed by members of the founding families. Similarly, major US and UK companies such as Microsoft, Virgin Atlantic, and Apple have always been managed by members of the founding families who still own a substantial amount of equity. Chandler’s claim that the managerial business enterprise arises primarily to coordinate production and distribution does not fully explain the organization of modern large companies. In most countries, public companies are forced by regulators of capital markets to separate ownership and management before listing their equities (Hill Jones 2012, p. 192). Thus, compliance with regulation is sometimes the main factor that forces business owners to hire an independent management.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Structure and Strategy According to Chandler, companies accumulate simple strategies that increase the complexity of their structures. For instance, as a company’s strategy changes from volume expansion to geographic dispersion, its structure evolves from an administrative office to a departmental headquarters. Ultimately, the strategy shift to vertical integration and diversification. As a result, the company’s structure changes from divisional central office to multidivisional general office (Fruin 2009, pp. 261-271). Generally, the organizational structure of large companies is determined by the strategies that they adopt (Ansoff 2007, p. 235). For instance, vertical integration was an important element of large companies in the US before the 1980s. Large manufacturers such as Ford Motor Company controlled their supply chains by investing in the companies that produced their inputs and distributed their products (Kleinand Lien 2009, pp. 289-312). Generally, vertica l integration improves the competitiveness of large companies by reducing the bargaining power of their suppliers, as well as, ensuring steady supply of high quality inputs (Ansoff 2007, p. 236). However, advancements in transportation and communication technologies in the 20th century coupled with intense competition have reduced the attractiveness of vertical integration. The creation of virtual offices and improvements in shipping technologies has led to a shift from vertical integration to modularity, outsourcing, and networking (Fruin 2009, pp. 261-271). Coordination of the supply chain has shifted to independent firms such as shipping companies and contract manufacturers who require little supervision. Contrary to Chandler’s view, modern large companies have been able to achieve differentiation without adopting a multidivisional organizational structure. The importance of this strategy is that it enables large companies to reduce their operating costs by eliminating mul tiple levels of management (Helper Sako 2010, pp.399-429). This increases the profits of large companies that operate in markets where profit margins are constantly shrinking due to high competition (Helper Sako 2010, pp.399-429). Internal Management and Market Factors Chandler argues that modern businesses â€Å"allocate their resources by managing rather than using the market† (Rodriguez 2009, pp. 284-298). Specifically, the managers at various levels in the organizational structure have taken over all the allocative functions of the invisible hand of the market. According to Chandler, managing involves employing managers to coordinate various supply chain functions such as producing inputs (Rodriguez 2009, pp. 284-298). By contrast, using the market involves depending on external and independent entities to supply key inputs (Rodriguez 2009, pp. 284-298). This distinction does not explain the organization of large companies. Undoubtedly, there is no large company that su persedes the market by adopting a managerial hierarchy to coordinate its allocative functions. For instance, the large companies that produce their inputs (managing) must use the labor market to hire the best talent to supervise the production (using the market). Contrary to Chandler’s view, managers must rely on the market to allocate the resources of the company. In particular, managers’ decisions concerning resource allocation must be determined by market needs for the company to succeed. In a competitive market, it is the customers who decide the type of goods to be produced, where they are sold, and the quality standards to be maintained (Mathews 2004, p. 217). Large companies adopt managerial hierarchies to understand and to implement these decisions rather than to make them. Thus, managing and using the market are inseparable elements of large companies. Chandler also assumes that the governance structure of modern companies, especially, public companies gives a uthority to managers to make all key decisions on behalf of the owners of the company. This perspective ignores the role of the boards of directors and shareholders in controlling their companies. Undoubtedly, the capital market rewards good management and punishes poor management (Freeman 2010, p. 216). Specifically, companies whose managers report poor financial performance can hardly attract external capital and vice versa. In this regard, the board of directors and shareholders control large companies by setting financial goals, which the CEOs and managers must achieve in order to attract their capital. The Extent to which the Model Explains the Competitiveness of Nations Transport and Communication Technologies Countries with advanced transport and communication technologies find it easy to attract foreign direct investments. Empirical studies have shown that rapid growth of large businesses in Europe, Asia, and the US is partly attributed to the availability of adequate and ef ficient transport and communication infrastructure (Freeman 2010, p. 221). By contrast, African countries are less attractive to multinational companies due to the absence of transport infrastructure such as railroads. Transport infrastructure is important because it helps in reducing operating costs and enables companies to access external markets. Research and Development According to Chandler, managerial hierarchies enable companies to generate the knowledge that they need to succeed in various markets (Kleinand Lien 2009, pp. 289-312). Through vertical integration, large companies establish their own research and development centers to create new knowledge (Kleinand Lien 2009, pp. 289-312). The knowledge and discoveries made by the large companies are often available to the entire country through patent and copyright agreements. For instance, the research done by GE Aviation has helped the US military to acquire the equipment that they need to maintain security. As a result, t he US is one of the most attractive countries to multinational companies due to its high national security standards. Governance Structure of Publicly Traded Companies The concept of separating management and ownership in publicly traded companies borrows heavily from Chandler’s model of integrated managerial enterprise (Fridenson 2004, pp. 564-569). Countries that are able to attract foreign financial capital have clear rules on corporate governance. In particular, public companies are required to employ an independent management to oversee their activities (Fridenson 2004, pp. 564-569). This enhances transparency in financial reporting and facilitates the use of incentives to encourage high performance among managers. This attracts foreign companies to invest in local companies by purchasing equities through the equity securities markets. Limitations of the Model Chandler’s model overemphasizes the importance of technology in determining the success of modern firms a nd nations. The model ignores the importance of the labor market in determining the attractiveness of nations (Ansoff 2007, p. 258). For instance, India and China have mainly succeeded due to their low labor cost advantage. Majority of the US and European manufacturers have relocated to China and India to take advantage of low labor costs. Thus, China and India have developed rapidly at the expense of the US and Europe where labor costs are very high. Chandler’s model also ignores the importance of national cultures and values in determining the success of companies and attractiveness of nations. In the US business culture, companies require specific skills, promote employees based on merit, and reward employees based on current performance (Jeffs 2008, 278). In Japan, companies require general skills, provide permanent jobs, and some times consider seniority when promoting or rewarding employees. In China, the Confucian culture enhances the success of businesses through hard work, frugality, and discipline among employees. Thus, multinational companies will always invest in nations whose business cultures present little challenges to success. Chandler’s model fails to account for government intervention in enhancing the success of businesses (Helper Sako 2010, pp.399-429). For instance, transport and communication technologies, which are at the heart of Chandler’s model, are often developed by the government. Thus, government policy concerning transport and communication infrastructure should be considered when analyzing the success of businesses and long-term attractiveness of nations. For instance, Japanese companies succeeded in the 19th and the 20th centuries due to the government’s ability to align its policies to the needs of the business community (Jeffs 2008, 287). Conclusion The central argument of Chandler’s model is that as companies become large, they adopt managerial hierarchies that supervise their operations. Generally, nearly all large companies in major economies have managerial hierarchies because they are too large to be controlled by an individual. However, Chandler’s claim that modern companies will ultimately be controlled by people with little or no relationship with the owners is not applicable in most developed countries. Several multinational companies are still managed by at least one member of the founder’s family. Chandler’s model explains the competitiveness of nations in terms of the role of transport and communication infrastructure in opening up external markets. However, it ignores the importance of national labor markets, cultures, and government policy in enhancing the attractiveness of nations. References Ansoff, H 2007, Strategic Management, Sage, London. Caves, R 1980, Industrial Organization, Corporate Strategy, and Structure, Journal of Economic Literature, vol. 18 no. 1, pp. 64-92. Freeman, R 2010, Strategic Management: A Stakeholder Appro ach, McGraw-Hill, New York. Fridenson, P 2004, Business Failure and the Agenda of Business History, Enterprise and Society, vol. 15 no. 4, pp. 564-569. Fruin, W 2009, Globalization and Alfred Chandler’s Modern American Firm, Journal of Management History, vol. 15 no. 3, pp. 261-271. Helper, S Sako, M 2010, Management Innovation in Supply Chain: Appreciating Chandler in the Twenty-first Century, Industrial and Corporate Change, vol. 19 no. 2, pp. 399-429. Hill, C Jones, G 2012, Strategic Management: An Integrated Approach, Sage, London. Ingham, H 2009, Organizational Structure and Firm Performance: An International Perspective, Journal of Economic Studies, vol. 19 no. 5, pp. 1-12. Jeffs, C 2008, Strategic Management, John Wiley and Sons, New York. Kleinand, G Lien, B 2009, Diversification, Industry Structure, and Firm Strategy: An Organizational Economics Perspective, Advances in Strategic Management, vol. 26 no. 1, pp. 289-312. Mathews, D 2004, The Visible Hand? The Econom ics of Alfred Chandler, Coastal Georgia Community Collage Press, Atlanta. Mesure, H 2007, Multinational Corporations and the New Global History, Society and Business Review, vol. 2 no. 2, pp. 219-220. Rodriguez, R 2009, From a Family-owned to a Family-controlled Business: Applying Chandler’s Insights to Explain Family Business Transitional Stages, Journal of Management History, vol. 15 no. 3, pp. 284-298. Rodriguez, N, Eisenhardt, M McKenna, C 2002, Strategy and Structure Redux: review of Alfred Chandler’s Work, Business Strategy Review, vol. 13 no. 3, pp. 20-26. This essay on Chandler’s Model of Integrated Managerial Enterprise was written and submitted by user Greyson R. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Wilcoxon Signed

Wilcoxon Signed Introduction Wilcoxon signed-rank test is applicable while weighing against corresponding samples to evaluate whether there is a variation in their ranked population averages. In other words, Wilcoxon signed-rank tests are applied in samples that do not meet the requirements of the parametric tests. In most cases, the Wilcoxon signed-rank is used in the circumstances that the population is not normally distributed (Martinez, 2007).Advertising We will write a custom research paper sample on Wilcoxon Signed-Rank Test specifically for you for only $16.05 $11/page Learn More The Wilcoxon signed-rank can be used in the place of student paired t-test particularly when the sample means are small. The assumptions made while using the Wilcoxon signed-rank test enables it to be more accurate than the dependent variables t-test particularly when the sample means are small. However, when the paired sample means are large, the t-test for non-dependent variable would be a ppropriate. The definition of Wilcoxon test The Wilcoxon signed-rank test refers to a non-parametric statistical theory that is very significant in carrying out tests of two related models as well as repeated dimensions on individual samples to establish whether there are variations in their populace mean ranks (Gravetter Wallnau, 2009). Further, the test is also useful in assessing the differences existing between the population mean ranks of matched samples. Moreover, the analysis plays an alternative means of assessment to the paired Student’s test for corresponding pairs as well as the t-test for independent samples in the event that the populace is not normally distributed. In carrying out the Wilcoxon test, the statistics from the corresponding population are paired off. The test also applies random sampling of the independent pairs (Gravetter Wallnau, 2009). Moreover, an ordinal scale is vital in measuring the statistics following a normal distribution. In essence, t he hypothesis testing of non-parametric data is essential in assessing records that can be placed in a given order but lack the statistical figures. In fact, the test is invaluable in analyzing clientele fulfillment (Gravetter Wallnau, 2009). The invention of the Wilcoxon test Frank Wilcoxon, an American statistician developed the test in nineteen forty-five. The Wilcoxon test was put forward together with rank-sum test in order to examine two independent variables. In fact, frank Wilcoxon proposed that in the circumstances where two sample populations to be tested is small then the W-test is suitable since it is more accurate than the paired t-test (Gravetter Wallnau, 2009). Later statisticians approved the test for non-parametric variables. In other words, the non-parametric variables are dependent sample population that does not meet the parametric tests. Consequently, the test was later given the name Wilcoxon T-test or simply as T. However, the name was lat er changed to W or t-test for non-independent population samples (Gravetter Wallnau, 2009).Advertising Looking for research paper on education? Let's see if we can help you! Get your first paper with 15% OFF Learn More When the Wilcoxon test is applicable The application of the Wilcoxon test is motivated by the improbability relating to the assumptions of normality in the t-test. For instance, Wilcoxon test is applicable in the situations that involve matched pairs as well as repeated dimension of similar items. Further, the Wilcoxon test is applied in the case where there are improper mean variations in the t-test (Gravetter Wallnau, 2009). In addition, the test remains indispensable in the circumstances when the distributions do not obey the normal essential suppositions. For example, in the normal parametric statistical procedures, the assumption is that the data will follow the uniform distributions. However, in the actual circumstances, the data do not follow the unifor m distribution. The test is also used when the variables are at least ordinal. In essence, the test is applied when similar participants carry out both situations for the study. In other words, the test is suitable for scrutiny of information that originates from recurring dimensional designs involving two situations. Further, the test is used when the statistics do not convene to the necessities for a parametric test (Gravetter Wallnau, 2009). In this regard, the test is suitable when the data are not distributed normally as well as when there are variations in marking the values of both the variances. In addition, for the Wilcoxon test to be carried out, the statistics must be measured on an ordinal scale. The sense behind conducting the test involves ranking the available figures to produce two order sums for individual situations. The methodical variation between the circumstances leads to placing the conditions with higher orders in one situation and the ones with lower ranks on the other situation (Jackson, 2009). Further, if the ranks are equivalent, then the orders are distributed in a similar array. The test is also significant in carrying out a single sample. For example, in conducting assessment on shopping centers, the use of Wilcoxon test is highly appropriate. In other words, in the study of several shops, the researcher would suppose that the respondents are probable to back up or object to questions put to them with an equal likelihood of half. In addition, when there is availability of various unrelated samples that require comparisons, the application of the Wilcoxon rank test is vital. When not to use the Wilcoxon test As indicated above the Wilcoxon test is used in the situations where the sample population is small. In the situations where the sampled population sizes are large, the Wilcoxon text cannot be applied (Cleves, 2008).Advertising We will write a custom research paper sample on Wilcoxon Signed-Rank Test specifically for you for only $16.05 $11/page Learn More In other words, while studying two population samples that are not identical or corresponding and the samples are large then Wilcoxon test is not applicable. Instead, unpaired t-test is used. The reason why the unpaired t-test is not preferable is that type 1 error is likely to be yielded particularly in the circumstances when the population sample size is small (Cleves, 2008). In other words, the unpaired t-test is preferable in the situations when the sample population size is large. However, when the distribution is skewed and the sample population is large, then Wilcoxon can still be applied (Martinez, 2007). In essence, Wilcoxon test yield better results when the paired population sample being studied is small. When paired sample sizes are large, then the Wilcoxon cannot be applied and instead the single t-test is used to test the variables. According to Jackson (2009), Wilcoxon test can be used in the place of the paire d student t-test. Wilcoxon test is appropriate in the evaluation of data that are derived from the repeated measures. In addition, in the circumstances that the derived data does not meet the parametric test requirements or when the data are not distributed normally, then the Wilcoxon test is applied. The test assumptions For the Wilcoxon test to be appropriate, several assumptions are applied (Kirk, 2006). The first assumption is that the data must be matched and have to be drawn from the corresponding populace. Secondly, independent and random pairing must be attained. The final assumption is that the data has to be ordinal. However, the normal distribution of data is necessary but not a must requirement (Kirk, 2006). The Wilcoxon test formula As indicated, the Wilcoxon test assumes a formula that test the median of sample sizes of the paired numbers. The sample size should be small. The hypothesis is whether there are variations in the medians of the sample pairs (Martinez, 2007) . In other words, the unacceptable premise tests whether there is no existing deviations in the paired sample middle measure while the acceptable premise tests otherwise. To derive the formula N is understood to be the size of the sample or the amount of paired samples. Therefore, the total data sample equals to 2N. If i=1, †¦.., N and x1i and x2i is to represent the measurements, then Wilcoxon test (W) ={∑[sgn(x2i-x1i)*Ri]}. In the formula, sgn represent the sign function while Ri represent the ranks (Martinez, 2007). As indicated, the hypothesis to be tested using the formula is as follows H0: there are no median differences between the pairs H1: median differences exist Conclusion In most cases, the Wilcoxon tests will be appropriate when the section the population to be tested is small and the distribution is not normal. The Wilcoxon tests contrasts the ordinary tests where the population is large and the distribution is average. However, most of the statistical tes ts do not behave in the normal distribution. In fact, in Wilcoxon tests, the data is not normally distributed and the sample sizes are small.Advertising Looking for research paper on education? Let's see if we can help you! Get your first paper with 15% OFF Learn More In addition, Wilcoxon tests are used in evaluating opinionated data as well as data that cannot be accurately measured. In other words, the measure is based on the nominal scale. Though data from opinions are normally difficult to measure, they are put in numerical scales that make it easier to be evaluated. In these kinds of data, there is no assumption that there is normal distribution. Therefore, Wilcoxon test would be appropriate. References Cleves, M. A. (2008). An introduction to survival analysis using stata. New York, NY: Stata Press. Gravetter, F. J. Wallnau, L. B. (2009). Statistics for the behavioral sciences. Belmont, CA: Cengage Learning. Jackson, S. L. (2009). Statistics plain and simple. Belmont, CA: Cengage Learning. Kirk, R. E. (2006). Statistics: An introduction. Belmont, CA: Cengage Learning. Martinez, R. (2007). Diagnostics for choosing between Log-rank and Wilcoxon tests. Michigan, MI: ProQuest.

Foreign Currancy Essay Example | Topics and Well Written Essays - 1000 words

Foreign Currancy - Essay Example It is even predicted by the IMF that it will overtake the US economy by 2016(Economy Watch, June 2, 2010) In November 2011, U.S. debt to China amounts to $1.13 trillion. This is 25% of the total $4.6 trillion of US debts. In 2011, China exported $1.58 trillion worth of production, 18% of which is exported to the US, while it has imported $333.9 billion from US, creating a trade deficit of $295.5 billion.(Kimberly, Amadeo). This massive surplus is the effect of China’s monetary policy of keeping their Remnibi lower than the equilibrium rate. This monetary policy is the subject of debate of IMF, the World bank, the government ,and other financing bodies. However, despite its robust economy, its GDP per capita income has remained relatively low as compared to United States. China’s GDP per capita is $4,428 while US has $47,153.(The World Bank) In effect, China is not subsidizing US economy because both countries benefit from the deal. The proceeds of the US debts are spent on federal programs while payments of interests of loan is spent by China to propel its economic growth. US debts also kept interest rates low. It is threatening because by holding too much ownership of U.S debts, China can use it as an economic weapon and shift the economic balance in its favor. Being second greatest in the world’s economy, China can use this power as leverage for imposing demands. For instance, in 2009, China proposed for a new global currency to replace the dollar because it was alarmed of the drop of dollar rate, and was afraid that its investments would deteriorate (Macdonald, Joe. 24, Mar. 2009). China has been reported to feel uneasy about relying on the dollar to store its reserves. It has also pressed for changes to give developing countries more influence on the IMF, the World Bank and other financing institutions. To reduce its complete reliance to dollars, China now swaps currency with G-20 trading partners like Hong Kong and Argentina. G-20 is a group of finance ministers and central bank governors from 20 economies and was formed to discuss the international financial system. To date, there is no report on the success of this proposition. What is its impact to the U.S. economy? The reduction of China’s demand for dollars leads to a domino effect – increase of interest rates that would hamper revival of the economy. Threatening to pull out all of its holding from the US will create havoc because if China calls its debts all at once; demand for dollars would be increasingly high, causing a dollar collapse that would disrupt international markets. This would trigger another financial crisis wherein everybody suffers including China (Kimberly). This is more unlikely to happen because it will reflect of China’s competitiveness. When China raises its export prices, US consumers will think twice and buy US products instead. As a policy, China keeps its currency Remnibi, lower than the dollar, a strategy that works for its advantage because it makes product imported from China lower than the U.S. products, and in the final analysis, be able to create more jobs for the Chinese, and be able to fund the growth of its economy. The US is trying to persuade China to revise its policy of having an undervalued Remnibi. The Remnibi is said to be 40 percent below it real value thus making its products excessively low and the US exports comparatively high, but whether this will be heeded by the Chinese government remains to be seen in the light of recent

The use of allegory in the Bhagavad Gita by Eknath Easwaran Essay

The use of allegory in the Bhagavad Gita by Eknath Easwaran - Essay Example The magical words of the Gita have been taken all around the world, and have inspired millions of people. Therefore, there can be little doubt as regards its efficacy, timeless relevance and of course, its wondrous, practical simplicity. The allegory, the wonderful symbolization of the world in all its colors - makes the song of God one of the greatest and most relevant works of religion. And this allegory can be seen in the Gita itself - a study of the entire epic is not even necessary! So, it is important to analyze and understand the reason for the Bhagavad Gita's strong influence on our minds - which can be properly done only by studying the beautiful allegory that is used in the poem. The entire Mahabharata is itself full of symbols, if we look deeply. Whether it is Dhritarashtra's blindness, Yudhishthira's flying chariot, a brotherhood of five Pandavas as compared to an ocean of a hundred Kauravas - all these strange characterizations and symbolizations carry a distinct meaning in themselves. The most prominent symbols, however, are the incarnation of Lord Krishna on the Earth, and his subsequent role as a charioteer to the Pandava Arjuna - who has been depicted as Nara (Man). It is commonly understood that the discourse given by Krishna to Arjuna is the only thing that comes close to an Allegory - being interpreted as God teaching man some important ideals (very much like the ten commandments!), but that is simply not true - The allegory can be seen and felt the moment Arjuna panics at the time of the commencement of battle - Man panics when he has to do his duty. And here, Man is Arjuna and his duty is to participate in this war. From this moment on, we can observe a great deal of wonderful and intelligent symbolization the great poet Veda Vyasa has hidden in the Gita. ".take me to the middle of the battlefield, my dear Krishna, so that I may observe the armies facing each other." - Thus did Arjuna plead with his charioteer (after the conch of the commencement of the battle was sounded!). "Middle of the battlefield" "My Dear Krishna" "may observe the armies facing each other" "after the conch of commencement of the battle was sounded" - have these questions ever been raised NEVER! But the entire soul of the poem's allegory is contained in these words. The moment Arjuna panicked, the Lord smiled. The very setting of the Gita and the conversation between Nara (Arjuna) and Narayana (Krishna) is too bizarre and eccentric for words - but that setting makes the song of God "Timeless". The "middle of the battlefield" is actually a point in everyone's life, when one has to make a crucial, life-changing decision. Arjuna wanted a clear view of both armies, and that could be done only when he could stand at the middle of the battlefield, impartially. The symbol "middle of the battlefield" actually teaches us just that - to be completely impartial while making an important decision. One should never be carried away by senseless and overwhelming

The character of Macbeth throughout the play Essay Example for Free

The character of Macbeth throughout the play Essay Macbeth is one of Shakespeares four great tragedies, which contain witchcraft, treason, and bloody murder. In the following essay, I will be writing about the way I feel towards the character of Macbeth throughout the play and the way in which he changes. Does Shakespeare present him in such a way that we can to some extent understand, even feel for this disloyal, self seeking murderer or can we relate to Malcolms description of him as the dead butcher? Our views on Macbeth change throughout the play because Shakespeare portrays him in many different ways. At the beginning of the play he is seen as a brave soldier, at the top of his profession and rewarded by King Duncan of Scotland. He is spoken about as Brave Macbeth and Worthy gentlemen after his heroism in battle, only to later become cruel and unjust. He had defeated the Norwegians and on his way home meets three witches. The audience in Shakespeares time believed in witches and their sinister side, leaving the audience sceptical when Macbeth communicates with them, leading us to believe he is connected with evil. The witches then give Macbeth three predictions: All hail Macbeth! Hail to the thane of Glamis! All hail Macbeth! Hail to thee thane of Cawdor! All hail Macbeth! That shalt be king hereafter. Macbeth is already thane of Glamis but chooses not to believe the witches because he feels that the Thane of Cawdor is alive. Soon after some messengers come and deliver, the news to Macbeth that he has been granted the thaneship of due to a treasonous crime committed on the Thane of Cawdors behalf. Macbeth starts to believe that a third prediction is likely to occur, given that the first two appear to have. Two truths are told, as the happy prologues to the swelling act of the imperial theme. Macbeths fatal flaw of ambition then overcomes him and he begins to contemplate regicide which, he feels is the only way of becoming King, My thought, whose murder is yet but fantastical. The attitude of the audience changes completely, however, the next time Macbeth meets up with the witches. Sympathy cannot be felt for Macbeth, as it is he who goes to the witches, not the contrary. At this stage, we cannot help but speculate concerning Macbeths apparent involvement with the evil forces, suggesting that he may have some evil present in him. One of the witches confirms this when admitting, Something wicked this way comes. Macbeth turns to the witches because of his insecurity. He is the subject of growing suspicion among many people, despite obtaining his ambition of kingship. On the contrary, he was enlightened when first meeting the witches that Banquos sons would be kings. This implies that children will be unable to follow Macbeth in the line of royalty and intrinsically apprehends Macbeth. In an attempt to find out how to keep his throne, Macbeth confronts the witches about his future. He is consequently granted three apparitions: Beware Macduff, None of woman born shall harm Macbeth. Moreover, Macbeth shall never vanquished be until Great Birnam wood to high Dunsinane hill shall come against him. These apparitions are all ambiguous, deliberately intended to mystify Macbeth and the audience. Why does Macbeth have to be cautious of Macduff? If no born son of a woman can harm Macbeth then who can? It is possible for a wood to move of its own accord so did Macbeth have nothing to fear? The ambiguousness of these apparitions and the manner in which Macbeth interprets them makes Macbeth over confident with regards to his safety because we later learn in the play that Macduff was not born of woman but of caesarean. We also learn that Macduff and Malcolms army cut down Birnam Wood and uses it as camouflage to get closer to Macbeths fortress without him seeing them. With the information they feed him with, the witches offer a hand of encouragement for Macbeths decisions (e.g. he kills Banquo because the witches say that Banquos sons will be kings) but are never responsible for what Macbeth does. They simply put ideas into his head, acting as a catalyst for his actions. The main influence on Macbeth, however, is his wife, Lady Macbeth, portrayed as a manipulative and domineering power. When Lady Macbeth hears about the predictions of the witches she immediately ponders murdering king Duncan. She realises, however, that although Macbeth is very ambitious, Thou art not without ambition, he is too compassionate to carry out the murder, I fear thy nature, is too full o th milk of human kindness. Lady Macbeth therefor formulates a plan. Lady Macbeth honours and loves her husband very much. She also conscious of her husbands reluctance to be thought of as a coward and when refusing to go ahead with murdering the king We will proceed no further in this business, uses the weakness to insult his manliness Was the hope drunk Wherein you dressed yourself? She therefor manipulates him into agreeing to commit the regicide. At this point in the play, we feel some compassion towards Macbeth, as he is weak in resisting his wifes ever growing influence. We become wary of the responsibility Lady Macbeth has on her husbands change of heart. Interesting to note, also, that at Shakespears time the husband would have been the dominant partner, and therefor the audience would have been cynical towards Lady Macbeth for her scheming ways and rare ability of being authoritative over her husband. In the scene just before Macbeth goes to kill Duncan he initially decides himself in his soliloquy to murder Duncan, despite the profound reasons not to. Macbeth appreciates Duncans fine qualities- his humility and his integrity in carrying out to perfection the tasks of kingship and knows that to destroy such virtue would be a crime against heaven. This leaves the audience divided in their opinions concerning Lady Macbeths influence on the plot. At this stage, I remain indefinite as to whether Macbeth really is the ruthless party in the murder or whether his wifes influence is the decisive passage. Lady Macbeths moral conscience is not as evident as her husbands. She is now the stronger of the two, and Macbeth cannot stand up to her accusations that he is a coward, lacking in manliness, and a traitor to his word. He yields to her, and in order to prove himself a man in his eyes submits to a womans guidance. Despite this, the couple has an affectionate relationship My dearest Love. Eventually the only loyalty that Lady Macbeth and have is their loyalty for each other. Disloyalty is shown when Macbeth murders the king just to make sure he keeps the throne. Unreasonable ambition takes over, with the consequence of loosing the things that were once important to the both of them. Lady Macbeth not only influences Macbeth on the murder of King Duncan but Macbeth also advances in killing his dearest friend Banquo and the wife and children of Macduff. When hearing of these unruly murders and realising that her husband is behind them she is driven insane by the sheer grotesqueness of them, The thane of Fire had a wife; where is she now? before her eventual act of suicide. Although not greatly evident King Duncan himself is a significant influence on Macbeth. Duncan is a very bad judge of character. He trusted the Thane of Cawdor He was a gentleman on whom I built absolute trust. However, The Thane of Cawdor turned out to be a traitorous villain. Duncan then gives Macbeth the thaneship of Cawdor. This is Dramatic irony as he is giving Macbeth the title of a traitor. This is also the wrong step because it raises Macbeth above all the other lords. Duncan praises Macbeth for his bravery at war, consequently making the other lords envious of Macbeth, and raising Macbeths ego. These three influences, the witches, Lady Macbeth and Duncan contribute significantly to Macbeths change in character throughout the play. The story unfolds as follows: The first time we hear about Macbeth is when the witches mention his name. This would make the audience feel uneasy and they would wonder why Macbeth is associated with evil. Their minds are then put at rest when the captain refers to him as Brave Macbeth. Macbeth is portrayed as a hero. He defeats the Norwegians and is rewarded with the thaneship of Cawdor so the audience admires him. They think that he is a loyal and worthy subject to the king. Then the witches meet with Macbeth; the audience would begin to have doubts about his loyalty when he starts contemplating about murdering the king. Macbeth then admits If chance will have me king, why, chance may crown me, without my stir. This emphasises that he is still unsure about having to murder King Duncan and at this point feels that if the witches have predicted it then fate will make him king without him having to do anything. King Duncan then names his son Malcolm as heir with Macbeth realising that he cannot become king unless he does something about it, That is a step On which I must fall down, or else oer-leap. Macbeth thinks a great deal about murdering the king and reasons for it and in his soliloquies the audience would see his thoughts and begin to feel sorry for him because his ambition is so strong that it is having a psychological effect on him. Nevertheless, in the end, despite the many doubts ultimately decides himself to kill Duncan. The audience can no longer feel sympathy for his actions because the decision to kill the king is his own; they would feel horror and dissatisfaction because of what he has done. During the time that Shakespeare was alive and Macbeth was first shown on stage people thought that regicide was a horrific crime and he who commits it, was eternally damned to hell. After Macbeth kills Duncan, he meets with Lady Macbeth. This scene (act 2 scene 2) is the plays most tense and dramatic. At the beginning, we see Lady Macbeth by herself in an agitated state. Every small noise unsettles her Hark! When Macbeth intrudes the pace changes, with the distinct exchange of questions and answers between them. This emphasises their state of nerves. We get an insight into Lady Macbeths character and the part she has played in the murder and also a little hint of weakness on her behalf when discovering that she went to kill Duncan but couldnt because he reminded her of her father, Had he not resembled My father as he slept, I had donet. We hear how Macbeths preoccupation with not being able to pronounce amen after hearing the prayer demonstrates his state of mind his guilt and his awareness that he has sold out to evil and the powers of darkness. Because Macbeth is so tense he forgets to leave the daggers at the murder scene and when Lady Macbeth tells him to take them back he says, I am afraid to think what I have done; Look ont again I dare not. Therefore, Lady Macbeth takes them back. When she goes to return the daggers Macbeth has a short soliloquy. This gives us an insight into his state of mind. He is full of guilt, will all great Neptunes ocean wash this blood Clean from my hands? This means that he cannot rid of the guilt. As a knocking is heard on the castle gates, Lady Macbeth returns but her husband is already regretting what he has done saying, Wake Duncan with thy knocking! I would thy couldst! Duncans sons Malcolm and Donalbain then flee the country for fear that their turn to be murdered will come so Macbeth becomes king. Despite having this title he is still insecure, with the prediction from the witches of Banquos sons becoming king, Macbeth decides that he has to prevent this fate and therefor hires murderers without Lady Macbeths knowledge to kill Banquo. This shows the audience how their relationship is breaking up. We are shocked at Macbeths decision to kill Banquo because he was Banquos best friend. After Banquo is murdered Macbeth hallucinates, he sees the ghost of Banquo covered in blood sitting in his chair at a banquet. All Macbeths lords are present but they cannot see the ghost, Lady Macbeth tries to relax him when saying, you look on but a stool. She tells him that what he is seeing is merely an illusion like the air drawn dagger which led him to Duncan. This indicates that after the murders Macbeth has a guilty, unquiet mind. He fears every one and in front of all the lords, he proclaims himself unstable. To the audience it appears as if Macbeth is turning insane and they sympathise with him because he has lost every thing dear to him: his best friend, his absolute trust and loyalty to his wife and the security of lots of friends who support him. Because of this insecurity, Macbeth pays the witches a visit with them showing him the three apparitions. With theses apparitions Macbeth is re-assured, his interpretation of them leads him to think that he cannot be harmed Then live, Macduff: what need I fear of thee? Macbeth then finds out that Macduff has fled to England in an attempt to encourage Malcolm to bring an army to fight Macbeth, filling him with anger. This provokes him to get revenge on Macduff: The castles of Macduff I will surprise, Seize upon Fife, give to thedge othsword His wife, his babes, and all unfortunate souls That trace him in his line. This would horrify the audience; the modern day audience would be more horrified at this murder than the 17th century audience who would think that regicide is worse. The modern day audience would feel nothing but contempt for Macbeths act of slaughtering women and children. Macbeths character at this point is completely destroyed; No heroism, loyalty, or any good qualities that he once had are left. No sympathy can now be given from the audiences point of view or any other character in the play. Lady Macbeth commits suicide because of guilty conscience regarding what she has done and what Macbeth has done. Macbeth subsequently hears that Malcolm and Macduff are coming towards him with a great army, He is not too worried because of the witches apparitions and he says I will not be afraid of death and bane Till Birnam forest come to Dunsinane. Macbeth receives the news of his wifes death and through his soliloquy reveals that he cannot grieve for her, due to having his mind in the direction of battle She should have died hereafter. Only at this point does Macbeth realise that he has nothing left and all because of his over ambition. A messenger later comes and announces that Birnam wood is moving. The armies of Malcolm and Macduff have cut down the forest and used it as camouflage. Macbeth begins to lose hope and feels like they have tied him to a stake. In addition, he cannot fly. Nevertheless, he decides that he will fight on Ill fight, till from my bones my flesh be hacked. Macbeth then sets out to fight he kills a man and still holds on to the apparition from the witches that no one born of a woman shall harm him, Swords I smile at, weapons laugh to scorn, Brandished by man thats of a woman born. Macduff confronts Macbeth and Macbeth is not very fearful of him because of the witches apparition. He says to Macduff: With thy keen sword impress as make me bleed: Let fall thy blade on vulnerable crests, I bear a charmed life, which must not yield To one of woman born. Macduff then replies saying that he was not of woman born; he was from his mothers womb Untimely ripped Macbeth now knows that Macduff is going to kill him but he shows a last bit of courage and he fights on. The audience cannot feel admiration for Macbeth because of what he has done only sympathy because he has noting left, and he knows it. Macduff then kills Macbeth and hails Malcolm as King. At the end of the play, we see Macbeth a respected hero turned into a vengeful villain through unreasonable ambition, with the influences of people around him. He commits regicide, murder, and vengeful slaughter. After the murder of Duncan, Macbeth is horrified to think of what he has done. Shakespeare contrasts Macbeth and his wife in their attitudes of the murder. Lady Macbeth is bold and confident, because she does, not understand that the deed is morally wrong: he only concern is to destroy the evidence. Macbeth, on the other hand, awakens to a consciousness of guilt that will remain with him until his death. At times, Shakespeare encourages the audience to feel sympathy and understanding for Macbeth but at times all that the audience can feel for Macbeth is horror, anger, disgust, and contempt, although at the end of the play he shows tremendous character when facing certain death.

Operations Management Theory: Reconciling Capacity and Demand Essay

Question 3: Draw on appropriate Operations Management theory, concepts and frameworks to examine how your organization, or an organization with which you are familiar, reconciles capacity and demand. Information technology services industry is a highly competitive cost based operation sector where availability of resources, tangible and intangible is key to successful projects. This makes a significant challenge to accurately reconcile capacity and demand. OpenText is a leader in providing enterprise content management solutions and we will analyse consulting services provided in the European market along with effect on demand with today’s changing economic environment. Slack et al (2009, p.248) defines relationship between capacity and demand as: "Capacity is the output that an operation (or single process) can deliver in a defined unit of time. Demand is the quantity of products and services that customers request from an operation or process at any point in time". Managing capacity is an on-going effort in the industry by reducing cost through repeat business from existing customer and by engaging new potential customers; This while managing customer expectations and ensuring quality of service. Customer engagement and service delivery are key to OpenText’s economic competiveness in the market. Employee development and attracting highly skilled individuals to the organisation are essential in delivering quality service. When considering potential projects, OpenText need to know the resource availability to perform the tasks. This demand for resources is weighted against who is available (capacity) to determine if additional resources are required to meet the demand and if required what types of resources are needed... ...ly uncertainty. IIE Transactions 34 717-728. Slack, N., Chambers, S., Johnston, R., Betts, A.,(2009). Operations and process management: Second edition. Harlow: Pearson Education Limited Roth, A.V. and Velde ,M V D.(1991), â€Å"Operations As Marketing : A Competitive Service Strategy†, Journal of Operations Management ,Vol. 10 ,No. 3,pp 303-328 Chiang, W. K. and Feng, Y. (2007). The value of information sharing in the presence of supply uncertainty and demand volatility. International Journal of Production Research, 45 (6), 1429-1447. Hum,Sin Hoon (2000), â€Å"A Hayes-Wheelwright framework approach for strategic management of thrid party logistics services†,Integrated Manufacturing Systems,Vol .11/2,pp 132-137 Buxey,G.(1993). Production planning and scheduling for seasonal demand. International Journal of Operations and Production Management, 13(7),4-21.

Babysitting for Sociology

Over the past seven years I have come to learn many different things about myself and about children due to babysitting. I first started babysitting when I was a about eleven years of age. I started off by watching my younger brothers when my parents went out at night. That affected my biological rhythm (274). My body was used to going to sleep around nine o’clock since I was still young, but I had to force myself to stay up so I could watch over my brothers while they slept. I sometimes found myself staying up till about midnight! Since I was so tired from staying up it seemed to have an affect on my sleeping also.It seemed like I would have more dreams that I could vividly remember the next morning (280). The next couple of nights after I babysat, it seemed like by body was on REM rebound due to the stages of REM sleep I would miss (276). Now that I am older I have trained my body to be able to stay awake and not feel like I had sleep derivation the next day (280). During th e duration of training my body to stay awake late, I learned a few things the hard way. I first thought that if I drank a lot of caffeine I would be able to stay awake longer and easier.Well that thought nearly ruined me! It wasn’t soon after I started relying on caffeine that my body became tolerant to it, and it seemed like I couldn’t go sleep without it or wake up without it (297)! At first it seemed like I was going through a withdrawal period (297). My body was craving the caffeine so badly that I felt sick without it. From that experience I have learned that doing homework or talking on the phone helps me stay awake while I am waiting on the children’s parents to get home. I am lucky that I have only suffered from addiction to caffeine and not drugs.A friend of mine became addicted to cocaine due to having to stay awake late for school. When she took that drug she said it made her feel like she could stay awake forever. To stay awake that is what a person wants to feel. Cocaine addiction is a fast track from euphoria to crash (301). Through my many years of experience in babysitting I have learned that most children fall under the category of associative learning. Associative learning is learning that certain events occur together (315). For example with most children after everything they do there is some sort of consequence.Younger kids have a tendency to get into things that they shouldn’t. Therefore, after they get into something that is off limits, they get in trouble. After watching kids fall under that category I also realized that many adults fall under it also. It seems like after every action there is a consequence. Here are some examples of kids actions and the responses they get. When a kid eats or drinks, automatically they have to use pee or poop afterwards. That is an example of unconditioned response (317). The substance the kid puts in their mouth is the unconditioned stimulus (317).A kid has to use the restro om soon after they eat because they haven’t quite learned how to control their urges. That is why they sometimes also go the bathroom in their pants. I learned a lot about babysitting through observational learning. Observational learning is observing and intimating others (341). When I was younger and I was unable to baby sit, a close family friend used to come over and watch my brothers and I. I learned a lot of from her. I learned many games from her that I now play with the kids I baby-sit. That comes in handy when I try to keep all of the kids occupied.Another thing that I learned from her that comes in handy when babysitting is patience. Patience plays a very big role. Kids repeat things over and over again, in other words they don’t know when to quit. That turns into getting on my nerves a lot. I have learned not to let it bother me as much. I have taught myself to take a deep breath when that happens and try to get the kids minds on something else. There are tw o different kinds of reinforcement I use with the kids while I baby-sit. They are positive and negative reinforcement (329).I use positive reinforcement when the kids do something that is good. For example, if they clean off their plates after they eat and get everything ready for bed, I will give them a good night treat. If the kids do something bad or if they go against what I tell them to do, I use negative reinforcement. Negative reinforcement may be they do not get a good night treat, they have to go to bed a half an hour early, or I may even give a bad report to their parents. I only give a bad report to the parents if they didn’t listen to me at all, or if they continued to back talk me.I find a lot that latent learning occurs a lot with the kids also (334). While I am baby-sitting I try to teach the kids something new every time. Sometimes they pick it right up other times it takes a while. For example, I try to teach the kids to always wash their hands before and aft er they eat. I teach them by making a point to let them know what I am doing when I wash my hands. Soon after, I will catch one of the kids trying to reach the facet to turn it on so they can wash their hands. When it comes to the kids memory, its not very long.It seems like to me that kids only remember things if they really want it. Other than that, they have short term memory. Short term memory is when you learn something but shortly afterwards you forget what it is (362). For example, when I am helping the kids clean up their room I try to tell them where stuff goes so that they can do it on their own. Well every time it comes to clean up time, they don’t remember where anything goes. When ever the kids do remember what I have said or taught them, they are retrieving memories from storage. Storage is the heart of memory (361).Through all of my years of baby-sitting and experiences, I have learned many things about myself and about the kids I watch. I am now able to predic t what certain kids are going to do or say at a certain time. I have gotten to know each of their personalities and became familiar with they things they like and the things they don’t like. I am also familiar with the things they know and what things they do not know. Through everything the kids put me through and taught me, I have learned a very important thing about myself. I love working with kids and that is what I hope to do in life regardless of what field it is in.