Strategic Management and Competitive Forces Essay Example

Strategic Management and Competitive Forces Essay COMPETITION IN THE GOLF INDUSTRY (WEEK 7) What is competition like in the golf equipment industry? What competitive forces seem to have the greatest effect on industry attractiveness? How is the golf equipment industry changing? What are the underlying drivers of change and how might those driving forces change the industry? What does your strategic group map of the golf equipment industry look like? Which strategic groups do you think are in the best positions? Which are in the worst positions? What recommendations would you make to Callaway Golf to improve the company’s competitive position in the industry and its financial and market performance? NINTENDO (WEEK 7) What is competition like in the video game console industry? Do a five-forces analysis to support your answer. Which of the five competitive forces is strongest? Which is weakest? Would you characterize the overall strength of competition in video game consoles as fierce, strong, moderate to normal or weak? Why? What is Nintendo’s strategy? Which of the five generic strategies discussed in Chapter 5 is Nintendo using? Is it fair to characterize Nintendo’s introduction of the Wii as a blue ocean strategy? Why or why not? What recommendations would you make to Nintendo to improve its competitiveness in the video game console industry and to maintain its favorable positioning vis-a-vis Microsoft and Sony? GOOGLE (WEEK 8) Discuss competition in the search industry. Which of the fi ve competitive forces seem strongest? weakest? What is your assessment of overall industry attractiveness? What are the key factors that define success in the industry? What are the key competencies, capabilities, and resources of successful search engine companies? Have Google’s business model and strategy proven to be successful? What are the company’s key resource strengths and competitive capabilities? What competitive liabilities and resource weaknesses does it have? What recommendations would you make to Google’s top-management team to sustain its competitive advantage in the search industry? How should it best capitalize on its strategic initiatives in mobile search, cloud computing, and its auctioning system for traditional media ads? RESEARCH IN MOTION (WEEK 8) What is competition like in the wireless phone industry? Which of the five Competitive forces is strongest? Which is weakest? What competitive forces seem to have the greatest effect on industry attractiveness? What strategic approach has Research in Motion chosen to employ in international markets? Would you characterize its strategy as a global strategy or a localized multicountry strategy? How has it utilized location to build competitive advantage? How important is it for Research in Motion to increase the size of its pool of software developers? What are the different options for substantially increasing its RD staff? Which option for increasing the number of software developers should Research in Motion pursue? Explain how your recommended course of action is consistent with Research in Motion’s resources, organizational capabilities, and management preferences. APPLE (WEEK 9) What are the chief elements of Apple’s overall competitive strategy? How well do the pieces fi t together? What does a competitive strength assessment reveal about Apple’s computer business, as compared to the leaders in the personal computer industry? Does it appear that the company’s competitive positions in personal media players and smartphones or stronger or weaker than its position in computers? Does it make good strategic sense for Apple to be a competitor in the computer, personal media player, smartphone, and tablet computer industries? Are the value chain activities that Apple performs in computers, personal media players, tablet computers and smartphones very similar and â€Å"compatible† or are there very important differences from product to product? What recommendations would you make to allow Apple to strengthen its position in its most important markets? KOMATSU (WEEK 9) Briefly identify the various strategies that Komatsu used in the different stages of their internationalization process. What were the implications for Komatsu’s management policies as they responded to changing domestic and global market conditions? To what extent the leadership and management of Komatsu responsible for its success or failures? Why? What strategic action should Komatsu take to bring back an sustain the leadership position of Komatsu? ADIDAS (WEEK 10) What is Adidas’ corporate strategy? Was there a common strategic approach utilized in managing the company’s lineup of sporting goods businesses prior to its 2005-2006 restructuring? Has the corporate strategy changed with restructuring? What does a 9-cell industry attractiveness/ business strength matrix displaying Adidas’ business units look like? Does Adidas’ business line-up exhibit good strategic fit? What value-chain match-ups exists? What opportunities for skills transfer, cost sharing, or brand sharing are evident? Based on your analysis of adidas businesses, did the restructuring undertaken in 2005 and 2006 make sense? Does it appear the acquisition of Reebok International will produce higher returns for shareholders? PEPSICO (WEEK 10) What is PepsiCo’s corporate strategy? Briefly identify the business strategies that PepsiCo is using in each of its consumer business segments in 2008. What is your assessment of the long-term attractiveness of the industries represented in PepsiCo’s business portfolio? What is your assessment of the competitive strength of PepsiCo’s different business units? Does PepsiCo’s portfolio exhibit good strategic fit? What value-chain match-ups do you see? What opportunities for skills transfer, cost sharing, or brand sharing do you see? What strategic actions should Indra Nooyi take to sustain the corporation’s impressive financial and market performance? Strategic Management and Competitive Forces Essay Example Strategic Management and Competitive Forces Paper COMPETITION IN THE GOLF INDUSTRY (WEEK 7) What is competition like in the golf equipment industry? What competitive forces seem to have the greatest effect on industry attractiveness? How is the golf equipment industry changing? What are the underlying drivers of change and how might those driving forces change the industry? What does your strategic group map of the golf equipment industry look like? Which strategic groups do you think are in the best positions? Which are in the worst positions? What recommendations would you make to Callaway Golf to improve the company’s competitive position in the industry and its financial and market performance? NINTENDO (WEEK 7) What is competition like in the video game console industry? Do a five-forces analysis to support your answer. Which of the five competitive forces is strongest? Which is weakest? Would you characterize the overall strength of competition in video game consoles as fierce, strong, moderate to normal or weak? Why? What is Nintendo’s strategy? Which of the five generic strategies discussed in Chapter 5 is Nintendo using? Is it fair to characterize Nintendo’s introduction of the Wii as a blue ocean strategy? Why or why not? What recommendations would you make to Nintendo to improve its competitiveness in the video game console industry and to maintain its favorable positioning vis-a-vis Microsoft and Sony? GOOGLE (WEEK 8) Discuss competition in the search industry. Which of the fi ve competitive forces seem strongest? weakest? What is your assessment of overall industry attractiveness? What are the key factors that define success in the industry? What are the key competencies, capabilities, and resources of successful search engine companies? Have Google’s business model and strategy proven to be successful? What are the company’s key resource strengths and competitive capabilities? What competitive liabilities and resource weaknesses does it have? What recommendations would you make to Google’s top-management team to sustain its competitive advantage in the search industry? How should it best capitalize on its strategic initiatives in mobile search, cloud computing, and its auctioning system for traditional media ads? RESEARCH IN MOTION (WEEK 8) What is competition like in the wireless phone industry? Which of the five Competitive forces is strongest? Which is weakest? What competitive forces seem to have the greatest effect on industry attractiveness? What strategic approach has Research in Motion chosen to employ in international markets? Would you characterize its strategy as a global strategy or a localized multicountry strategy? How has it utilized location to build competitive advantage? How important is it for Research in Motion to increase the size of its pool of software developers? What are the different options for substantially increasing its RD staff? Which option for increasing the number of software developers should Research in Motion pursue? Explain how your recommended course of action is consistent with Research in Motion’s resources, organizational capabilities, and management preferences. APPLE (WEEK 9) What are the chief elements of Apple’s overall competitive strategy? How well do the pieces fi t together? What does a competitive strength assessment reveal about Apple’s computer business, as compared to the leaders in the personal computer industry? Does it appear that the company’s competitive positions in personal media players and smartphones or stronger or weaker than its position in computers? Does it make good strategic sense for Apple to be a competitor in the computer, personal media player, smartphone, and tablet computer industries? Are the value chain activities that Apple performs in computers, personal media players, tablet computers and smartphones very similar and â€Å"compatible† or are there very important differences from product to product? What recommendations would you make to allow Apple to strengthen its position in its most important markets? KOMATSU (WEEK 9) Briefly identify the various strategies that Komatsu used in the different stages of their internationalization process. What were the implications for Komatsu’s management policies as they responded to changing domestic and global market conditions? To what extent the leadership and management of Komatsu responsible for its success or failures? Why? What strategic action should Komatsu take to bring back an sustain the leadership position of Komatsu? ADIDAS (WEEK 10) What is Adidas’ corporate strategy? Was there a common strategic approach utilized in managing the company’s lineup of sporting goods businesses prior to its 2005-2006 restructuring? Has the corporate strategy changed with restructuring? What does a 9-cell industry attractiveness/ business strength matrix displaying Adidas’ business units look like? Does Adidas’ business line-up exhibit good strategic fit? What value-chain match-ups exists? What opportunities for skills transfer, cost sharing, or brand sharing are evident? Based on your analysis of adidas businesses, did the restructuring undertaken in 2005 and 2006 make sense? Does it appear the acquisition of Reebok International will produce higher returns for shareholders? PEPSICO (WEEK 10) What is PepsiCo’s corporate strategy? Briefly identify the business strategies that PepsiCo is using in each of its consumer business segments in 2008. What is your assessment of the long-term attractiveness of the industries represented in PepsiCo’s business portfolio? What is your assessment of the competitive strength of PepsiCo’s different business units? Does PepsiCo’s portfolio exhibit good strategic fit? What value-chain match-ups do you see? What opportunities for skills transfer, cost sharing, or brand sharing do you see? What strategic actions should Indra Nooyi take to sustain the corporation’s impressive financial and market performance?

Walter Elias Disney

Movie animator, producer, showman; born in Chicago. He spent most of his boyhood on a farm in Missouri, and at age 16 went to Chicago to study art. His first seriesAlice in Cartoonland (192426) and Oswald the Rabbit (192628)were not especially successful but in 1928 he introduced Mickey Mouse in the first sound cartoon, Steamboat Willie. Always quick to adopt the latest technology, his Flowers and Trees (1932) was the first film of any kind made in complete Technicolor. From 192939, he produced a series of full-color animated cartoons, Silly Symphonies, that featured his soon-to-become famous characters, Donald Duck, Goofy, and Pluto. In 1937 he released the first full-length cartoon feature, Snow White and the Seven Dwarfs, to enormous financial and critical success; it would be followed by others such as Pinocchio (1940), Fantasia (1940), Dumbo (1941), and Bambi (1942). During World War II his studio made educational films for the U.S. government. After the war, he began to produce True-Life Adventures, a series of short films showing hitherto unseen close-ups of animals in natural settings; his first full-length nature film was The Living Desert (1953). He also began to produce movies with live actors; his first was Treasure Island (1950), followed by others including Davy Crockett (1955) and Mary Poppins (1964). In 1955 he opened Disneyland, in Anaheim, Calif., an amusement park heavily drawing on his studio's productions; Disney World, in Orlando, Fla., did not open until 1971. Greatly honored in his lifetime, with numerous Oscarsincluding a special award for Mickey Mouse in 1932and an honorary degree from Harvard, he remains acknowledged as a true genius of popular entertainment. Walter Elias Disney was born on December 5, 1901 in Chicago Illinois, to his father, Elias Disney, an Irish-Canadian, and his mother, Flora Call Disney, who was of German-American descent. Walt was one of five children, four boy...

Talent Essay Example | Topics and Well Written Essays - 250 words

Talent - Essay Example In business, a talent is also considered to be a recurring form of thought or conduct which can be exploited productively. To be able to perform a task outstandingly, one require having a recurring thought pattern. In business, different people perform different in different jobs depending on their talent. Additionally, talents require to be managed to enhance success (Sorensen and Crabtree Web). My talent is in management. I consider this to be my talent I have the natural ability to motivate other people which a crucial management skill. Since I was young, I have always been able to deal with people of different personalities and I often find myself playing the motivating role when working in a team. Additionally, am visionary, have apposite critical thinking skills, decisive and good team player. I believe management is my talent since having the above skills enables me to relate well with others, be organized, decisive, and be able to communicate effectively which is important in

How Does Cyber Bulling Affect Teenagers Research Paper

How Does Cyber Bulling Affect Teenagers - Research Paper Example This essay approves that cyber bullying victims are persistently tormented by their peers through text messages or emails, and this may rekindle the feeling of worthiness and hopeless and may therefore decide to commit suicide to escape all the pain. More so, online bullying triggers the feelings of sadness, anger and most commonly, embarrassment. In addition, cyber bullying has a negative impact on the quality of the relationship that the teenagers have with their families, peers or even teachers because they often feel disinterested in life and they start perceiving life as hopeless and meaningless, and in some cases, the victims may feel angry and vengeful, to revenge on the bullies. This report makes a conclusion that cyberbullying can have devastating impacts on teenagers’ lives such as depression, isolation or even suicide. Various studies show that cyber bullying is common and is some cases can be severe and adversely affect teenagers’ lives. Cell phones and computers cannot be entirely be blamed for cyber bullying because the social networking sites are supposed to be used positively such as connecting with other people, using them for learning activities, and entertainment among others. In order to stay safe online, it is advisable not to post or even share personal information online including internet passwords, inform parents or any other responsible adult about what they are doing online, and never meet anyone that they have only met online among others.

The Possible Benefit from Tobacco Term Paper Example | Topics and Well Written Essays - 2000 words

The Possible Benefit from Tobacco - Term Paper Example In order to have a clear understanding of the importance of cigarette taxes, it is appropriate to give a historical background of the object- cigarettes. Historically, tobacco became popular in the United States in 17th century which was often associated with slavery since tobacco plantations required massive manpower. However, when America started trading with other colonies after the American Revolution, tobacco in the form of cigarettes became popular. The origin of cigarette smoking can be traced to Western Europe. The cigarette was actually smoked by members of the lower class population in Andalusia which was adapted by the French during their conquests there. Later during the Victorian period, the British adopted tobacco to suit their taste and style but in the form of â€Å"dainty looking cigarette† which can used by the ladies (Burns 132 ). In the United States, Maryland and Virginia competed heavily in tobacco farming resulting to the establishment of two different types of auction system for loose-leaf. This caused tremendous pressure to the government leading to the enactment of the Tobacco Inspection Act that directs the Secretary of Agriculture to impose controls on the tobacco Industry ( McGrew ). In addition to this, McGrew asserts that the government imposed regulation since â€Å"the tobacco industry provided more than $4.8 billion in taxes in 1971† (USDA, Tobacco Situation, 1971b: 44). Strictly speaking, the first federal excise tax on tobacco was included in the Alexander Hamilton’s tax.

Role of Strategic Management in Planning

Role of Strategic Management in Planning INTRODUCTION While some firms adopt strategic opportunism as a strategic planning method used mainly by senior managers who use it to assess their firms capacity to recognize and respond to identified windows of opportunity (or threat) that may require strategic changes as it would be pointless identifying strategic opportunities that the firm lacks in the competencies and resources to take advantage of them, others firms use human judgment in making operational decision making, this could involve situation assessment, actions taken to gather additional information, generating plausible hypotheses and other alternatives which either depicts Strategy as science or art. This paper aims at analyzing certain terms and elements in strategic management that explain business strategy as an art or science, terms like design, rational, hypothesis, culture or creativity etc. It also explains situations where organisations are presented with either luck or opportunity and how to what extent judgment is exhibited in the strategic decision making. ANALYSIS Role of Strategic Management Elements in planning and decision making According to Constable (1980) Strategic Management addresses the management processes and decisions which determine the long-term structure and activities of the organisation. This further explains that strategy incorporates planning activities on Management Processes which encompasses both the formal structured process (prescriptive approach) and the informal structured processes (emergent strategy change). This provides the Managers the ability to spot opportunities for and threats to the organisation in its future plans and the changing environment in which it operates. As information is seen as input into an organisation process which produces decisions as the output, the strategy of an organisation e.g. avoiding a threat or exploiting an opportunity determines the Management Decisions that need to be taken that is expected to be a solution of apparent problems, the feasibility and the requisite resources for implementation. Beck (1987) argued that many British companies lack strategic clarity, this comprises of mainly three reasons: Thompson (1993) explains, The difficulties of forecasting in todays business environment; the lack of managerial competence in many companies; and above all, the frequent absence of strong leadership from the top. Other reason maybe the distinction between established views incompatible with the formal and elaborate strategic planning systems present in the 1960s and 1970s, however failed to work in most cases. Strategic Planning helps organizations answer series of questions about how well the company is doing and why, where it should seek to develop in the future. Thompson (1993) further argued that, Most successful companies strategically are likely to be those that are aware of where they are and of what lies ahead, those that understand their environment and those that seek to achieve and maintain competitive advantage. Also, Thompson (1993) asserted that whatever strategy exist in an organisation, organisations ace in strategic thinking are more distinguished from their less successful competitors by a common pattern of management which are highlighted below: Key success factors inherent in the economics of the business are effectively identified than their competitors. Markets are segmented to gain critical competitive advantage. The segmentation is based on competitive analysis conducted on the markets, thus, segments are separated according to its strengths and weaknesses of different competitors Successful companies base their strategies on the measurement and analysis of competitive advantage. Good strategic thinking implies an understanding of how situations will change over time, thus companies can anticipate their competitors responses. Companies are able to give investment priorities that promise competitive advantage While one may be agreeable that business strategy initiatives depend on a mixture of luck and judgment, opportunism and design to succeed, different views need to be analyzed as business strategy itself can be a combination of the aforementioned features. This is because a good business strategy will succeed irrespective of the factor of luck but a good business strategy has to be able to take advantage of opportunities, be planned with great insight and judgment without relying on the good wind of luck to see it through. Companies with superior business strategies who dominate their various industries are there because of their unique insights and capabilities in the formation and execution of their strategy. However luck seems to plays a role in performance of a companys strategy. Three broad scholastic perspectives exist for explaining the relationship between luck and business strategy; Kovenklioglu and Greenhaus, (1978) held the view that luck plays little or no role in the performance of a strategy, this is articulated by Day and Maltby, (2003) who held the view that a belief in luck is irrational. The last perspective believes that luck plays a substantial role in the long run by creating short-term success which then positively positions a company for superior performance in the long run or that luck may create a lasting success via a combination of lucky efforts. This is synonymous with Mintzbergs positioning school of thought which places a company within the context of its industry and tries to devise ways to improve its strategic position within that industry. A typical case study is the position of Microsoft in the software industry; which came about when by a stroke of luck, Paul Allen, saw a magazine in a grocery store with a picture of the new microcomputer , the Altair made by a company called MITS and decided to write a BASIC interpreter for it. This led to the formation of Microsoft which grew to become the biggest software company in the world. This position has enabled them to implement successfully their business strategy of copying the products of their competitors and making it better using the vast resources available to them, then bundling it with windows to force it down the throat of consumers in order to kill off the competition. Another illustration is the browser wars between Microsoft and Netscape in 1997, when incumbent king of browser, Netscape Navigator faced an unprecedented challenge from software king, Microsoft. Netscape navigator had the dominant market share (about 80%) which Microsoft wanted; it devised a business strategy which involved licensing Mosaic an existing browser as the platform for its internet explorer. Then it decided to give away internet explorer by bundling it with the Windows 95 plus. This was effective in stealing Netscapes market share because Netscape charged for its browser. It would have been impossible for Microsoft to keep its rigorous monopoly in the software industry if it werent for its strategic position which it had already attained through windows at a time when microcomputers was just been born. It has been said that the reason Microsoft became the biggest software company was bill gates being at the right place at the right time. Legend has it that it was Digital Researchs Gary kildall that was first contacted to supply the software for the new IBM PC but as matter of luck he turned it down preferring to fly in his airplane. This made IBM to contact bill gates who went on to supply PC DOS which was developed into windows. The table below represents the attributes of Strategy as design and Strategy Judgment, each of which exhibits the characteristics of Strategy as Science and Strategy as art respectively. STRATEGY AS ART OR SCIENCE..The concept of Strategic Thinking The term Problem Solving is most often scientific related which is an activity of finding the solution to a problem; this could also be defined with respect to strategic problems where the problem solving activity is finding a solution. Hitt explained, the concept of strategic thinking where Mintzberg also argued that Strategic Planning is an analytical process aimed at programming already identified strategies which exhibits strategy as a science, however, strategic thinking is believed to be a synthesizing process, utilizing intuition and creativity, whose outcome is an integrated perspective of the enterprise, this sees strategy as an art. Strategic Thinking denotes all thinking about strategy with specific characteristics. According to Nasi (1999) Strategic Thinking extends both to the formulation and execution of strategies by business leaders and to the strategic performance of the total enterprise and for Mintzberg (1994) who is one of the foremost advocates of strategic thinking, argued that, the term is not merely alternative nomenclature for everything falling under the umbrella of strategic management; rather it is a particular way of thinking with specific characteristics. On both two issues discussed on whether strategy is seen as a Science or an Art, a whole spectrum of views exists most of which are highlighted in the table below on the aforementioned two schools of thought on strategy. Business strategies are usually developed from a companys mission statement which is basically a statement of a companys dream and aspiration for its future based on its plans. The success of any strategy however depends on its implementation this is because strategy is more an art than a science. Science test for facts using established laws of physics whereas art deals with expressions of concepts, thoughts and ideas. In this way it mostly mimics the use of business strategies not as a way to test for the success or failure of a companys goals but rather a way to express the desire of its management for the future of the company. However, there are aspects of science in the way strategies are formed, planned and executed. The entrepreneurial school of thought sees strategy as a visionary process, it stresses the use of a cocktail of insight, judgment and intuition in the formation of strategies and this articulates the importance of judgment in business strategy For example in the decisive battle of the ball-point pen between Bic, Parker, Sheaffer and Waterman, Bics strategy that eventually won the battle was based on a very important judgment of the market need in devising a cheaper and better version of the biro pen. Bic realized that the cost of a Parker Pen which dominated the market at the time was exorbitant and it devised a strategy to reengineer its design to produce cheaper pens which could be sold for a few cents and this meant they were disposable and as such were widely adopted. Burnes (2004) wrote, Mintzberg views approach to strategy as a virtue, he compared art of strategic making to pottery and managers to potters who mould the clay with the shape of the object evolving in the hands, this can be reflected in Emergent Strategy, strategy that evolves according to need which is constantly adjusted and adapted and Crafting Strategy, developing strategy according to the needs of the organisation and environment, thus seeing strategy as an art. 205. Contrarily, Burnes further argued through the works of Hoskin (1990) who claimed Pennsylvannia Railwayss executives, Herman Haupt should be given credit for initiating a business strategy which made use of full interactive play of grammatocentrism and calculability, thus implying strategy to be a quantitatively-oriented discipline which focuses on numerical analysis for market forecast , thus portraying strategy as a science Mintzberg et al, (1998) developed in the early 1960s two schools of thought for strategy; Planning school and Design school. The Planning school was pioneered by Igor Ansoff (1965) which was based on formal procedures, formal training, formal analysis and quantification this was based more on abstract thinking. The Design school, pioneered by Chandler (1962) placed more emphasis on appraisal of organisations opportunities and threat. Mintzberg also laid out the five main interrelated definitions of strategy The Strategy as a perspective mentioned above sees strategy as an abstract concept, mainly existing in peoples mind, which characterizes strategy as an art. In addition, Mintzberg et al, Johnson (1987) further argued strategy as a social science through three views of business strategy JOHNSONS VIEWS OF STRATEGY Rationalistic view: sees strategy as an outcome of series of preplanned actions designed to achieve goals. Emphasizes strategy as a science i.e. systematic and rational attributes Adaptive or incremental view: sees strategy evolving through an accumulation of relatively small changes over time. Emphasizes strategy as art i.e. dynamic and creativity Interpretive view: sees strategy as product of individual and collective attempts to make sense of. Emphasizes strategy as a science i.e. interpreting, evidence, past events etc. Burnes (2004) continued the argument between strategy being an analytical stream (formulating strategy rather than prescribing) or prescriptive (controlled, prescriptive process on strategy based on rational model of decision making) through Mintzberg et al, Johnson work on whether strategy is a process or an a rational phenomenon but the classifications of various approach to strategy was absent which Whittongton emphasized in his four generic approaches to strategy. WHITTINGTONS GENERIC APPROACH TO LONDON Classical Approach: portrays strategy as a rational process based on analysis and quantification (strategy as science) Evolutionary approaches: uses analogy of biological evolution to describe strategy development through prediction. (Strategy as a science) Processual Approach: concentrates on nature of organisational and market processes (Strategy as art) Systemic Approach: sees strategy as a link to dominant features of the local systems, involving deliberate process, planning and predictability. (Strategy as science) An effective business strategy may include both strategic thinking and the essential elements of a strategic planning process, thus, strategic planning can drive out strategic thinking. Harrison (2003) mentioned that, Henry Mintzberg, a famous strategist defined strategic planning as an analytical process aimed at carrying out strategies that have already been identified and strategic thinking involves intuition and creativity, i.e. it is so rigid that it tend to drive-out the creative-thinking processes which accentuates strategy as an art, its way of synthesizing stimuli from the internal and external environments in creating and integrated perspective of an organisation, this displays the scientific base of strategy. Strategic thinking is seen as crafting strategic architecture thus characterized by essential elements highlighted in the below by Harrison (2003), Intent Focused: Built on managerial vision of where the firm is going and what it is trying to become. This is called strategic intent Comprehensive: A system perspective which envisions the firm as a part of a larger system of value creation. It, understands the linkages between the firm and the other parts of the system. Opportunistic: Seizes unanticipated opportunities presented to the firm Long-Term Oriented: Goes beyond the here and now. Looks several years into the future at what the firm will become, based on its strategic intent. Built on Past and Present: It doesnt ignore the past or present but instead, learns from the past and further builds on a foundation of realities of the present. Hypothesis Driven: A sequential process in which creative ideas are then critically evaluated. Is willing to take a risk STRATEGIC LUCK While some firms hope to yield above expected normal returns from implementing business strategies, they must however be consistently conversant with the future value of those strategies than other firms playing in the same market. Other firms gain advantage in strategy implementation which is either a manifestation of these special insights into the future value of strategies, or a manifestation of a firms good fortune and luck, as sometimes, the price of the strategic resource acquired may be based on expectations on the return potential of that strategy However, unexpected greater organisational profits can simply be unexpected, a surprise, and a manifestation of a firms good luck and possibly not its ability to accurately anticipate the future value of a strategy. Even well-informed firms can be lucky in this manner. Some organizations actual returns on strategies could be greater than the expected returns; this resulting difference is often regarded to be manifestation of a firms unexpected good fortune. Although most of the success of the company has been deliberate and designed, luck has also been part of it. Luck can also play a role in the formation of business strategy as was the case of the battle of the ball-point pen, when Chicago businessman Milton Reynolds, stumbled upon a new product on a business trip to Argentina, he then bought a few samples knowing that another company Eversharp had bought the patents for a million dollars and widely publicised it, devised a strategy to be first to market in order to take opportunity of the publicity already gained in the US. Reynolds then sold the Pens for hefty prices to anxiously waiting customers thereby making millions of profit. Strategic luck can be demonstrated in the success of the POST-IT Notes originally developed the firm 3M. The idea of Post -it notes came from Dr Spencer in 1968 but didnt emerge until 6 years later when it appears to be a solution for a problem of Art Fry (a colleague of Dr Spencer at 3M) in finding songs quickly in his Hymnal book. Even though Dr Spencer was talking to colleagues and anyone ready to listen about his discovery, no one really knew how to use it until Art Fry came up with the idea of using the post it note to retrieve quickly what he needed from his hymnal book. As a result post it notes became really popular and was used in almost every office. Had it not been the problem Art Fry that require a solution post it notes may not have known the success they had and still have. (Big success) The more accurate an organisations expectations about a potential strategys return are, the less luck plays in generating above normal returns but when the organisation has less than perfect expectations, luck can play a role in determining an organisations returns to implementing its strategies. Consequently, strategies yielding above normal returns may be as a result of a firms ability to uniquely implement a strategy which either reflects the competence of the firm to make accurate expectations, underestimating the true value of the strategy or it had no special expectations but the strategy still yielded above normal returns, these are real reflections of a firms good fortune and luck. Exxon recorded its fourth-straight year profits, enduring wild swings in oil prices and a worldwide drop in demand in 2008. Falling oil prices in the latter half of 2008 hurt its oil production arm (CNN Money.com, 2009). Thus, Barney (1985) explained, because luck is, by definition, out of a firms control, an important question for managers becomes, How can firms become consistently better informed about the value of strategies they are implementing than any other firms? Firms that are successful at doing this can, over time, expect to obtain higher returns from implementing strategies than less well-informed firms, although, as always, firms can be lucky. Another perspective of luck is that it only affects performance of strategy in a few instances but which when averaged out over a lengthy period of time appears to be insignificant. These two views are consistent with scientific inquirys assumption of causality. This perspective is most evident in sports, whereby a team like Manchester united may perform poorly in a few games due to some bad luck but will generally do better than the other teams over the course of the season due to their superior football strategy. STRATEGY AS DESIGN Johnson, Scholes, Whittington (2005) introduced the idea of strategic lenses[1] which design lens is part of, they explained the design lens as a strategy idea formulated through objective and careful analysis and planning which is implemented down throughout the organisation by the top management. Johnson et al stated, Strategy as design views strategy development as the deliberate positioning of the organisation through a rational, analytic, structured and direct process. Johnson et al (2008), argues that strategic design basically builds on two main principles; Managers are, or should be, rational decision makers. Managers should be taking decisions about how to optimise economic performance of their organisations. Although most strategies are by design or deliberate, some of them are however emergent. Porter (1990) was one of the proponents of deliberate strategy which argue for the creation of detailed plans on which a business can exert its full influence because market conditions will be relatively stable for the strategic planning period. Mintzberg, a Proponent of the emergent school of thought argued for the creation of objectives or goals for the future of the company but leaving the implementation to the flexibility of market forces. In order words Mintzberg advocates leaving the strategy open to changes in market conditions. These schools of thought make it inappropriate for me to agree with the statement that strategy is a mixture of design as this is not always the case. The success of Amazon can be attributed to the design of its strategy. Following the effervescence of online shopping, Amazon has successfully designed its strategy to meet customers requirements and needs in a way. It has allowed customers to shop from their homes, offices or any other locations without having to physically go in the shop. Amazon also appears to offer a wide range of products and services, and gives the chance to post any comments, rate the products their bought and offer review for products as well which helps buyers in their choice. Amazon has grown from strength to strength over the years as a result of this well design strategy. (Bokardo) Rational choice is being based on the consideration of the decision making consequences and thus be the anticipations of the future effects of possible actions. Invariably by implication, considerations would be given to the diverse benefits and limitations of different strategic options on the basis of evidence that informs on the likely outcomes of decisions made. As Johnson et al (2008) stated, the assumptions typically underpinning a design view of strategy are in two forms which are as follows: In terms of how strategic decisions are made: Systematic Analysis Strategic positioning, an analysis that provides basis for the comparing organisational strengths and resources with changes in its environment in order to be able to take full advantage of opportunities and circumvent threats. Analytic thinking precedes and governs action Objectives are clear and explicit and basis upon which options are evaluated. Making assumptions about the form and nature of organisations Organizations are hierarchies. Organisations are rational systems Organizations are mechanisms by which strategy can be put into effect. STRATEGIC OPPORTUNISM Just as in science field, strategic planning demonstrates the importance of the use of rigorous flexible methods, results and theories in order to take advantage of strategic opportunities with an impact by improving the direction of the knowledge thats been produced. The above expresses the term strategic opportunism an ability to remain focused on long-term objectives while staying flexible enough to solve day-to-day problems and recognize new opportunities. A managers most important role is to plan a long-term, strategic course for the company, keeping the company geared towards that direction. Given that goals are often static contrary to the business environment, success in this role could however elude managers as each day brings an incessant stream of surprises, new information and opportunities. It can be said that the difference between successful and failing companies is in their ability to sense and respond to opportunism in their business environments. Mintzberg Environmental school of thought sees strategy formation as a reactive process, in effect a response to the external environment. The importance of opportunism to the overall strategy of a company cannot be over emphasized be it technological or financial opportunism. Bernand stated, the challenge for managers, then, is to maintain both flexibility and direction. While no magic formula exists for balancing todays plan against a five-year plan, strategic opportunism can be an effective way to respond to immediate concerns while setting and pursuing long-term goals. This can be illustrated in the case of the Snapple Beverage Corporation, a drink company that was founded in 1972. Having known a good success in the 1990s in the cold channel dominated by small independent drinks distributors, Snapple was bought in 1992 for $143 million by a private firm (Thomas H. Lee) that sold it a year a later after taking in public for the $1.7 billion to a successful firm, Quaker Oats. However under the ownership of Quaker, Snapple was deficient, thus it was later sold in 1997 for the modest sum of $300 million to the Triarc Company. Triarc took this opportunity (of getting a company for a small price) and put back Snapple on track, using the niche market they were previously in, instead of following the mistakes of other firms that wanted Snapple to compete with big brand names. Triarc used the failure Quaker oats as an opportunity and made it as they sold Snapple in 2000 for the staggering sum of $1.4 billion to Cadbury Schweppes. Strategic opportunism focuses mainly on identifying and exploiting the immediate market opportunities at hand with a view to leverage the companys existing strategic assets and competencies and avoids commitment.Harrison (2003) argued that, although strategic thinking is based on strategic intent, it does exhibit a certain level of intelligent opportunism, which he defined as the ability of managers to take advantage of unanticipated opportunities to further intended strategy or redirect a strategy. Therefore, it can be concluded that Strategic Opportunism is characterized by the following according to Aaker (2004): Driven by a focus on the present. Premise that environment is so dynamic and uncertain that it is not feasible to aim at a future target. Strategic flexibility and willingness to respond to opportunities is necessary. Change is the norm. Minimizes risk of missing emerging opportunities. Reduces risk of strategic stubbornness. Requires decentralized structure. Needs entrepreneurial personnel. STRATEGIC JUDGMENT Judgement is usually what the decision makers add to uncertainties or ambiguities in any business strategy. Arguably, its believed that managers gain judgment through past experience and its the experience of specific situations and activities that gives specific types of judgment. Pettigrew (1973) argue that experience is the most important source of what managers call their personal development. Mumford (1980) and Stuart (1986) stated that, the process of acquiring the experience which shapes managerial judgment can also be facilitated by working with those who have already demonstrated ownership of the desired qualities of judgment. Conclusively, since strategic judgment has been attributed to experience acquired, thus, can be related to Strategy as experience which is one of the strategy lenses. According Johnson et al (2005), The Strategy experience lens views strategy development as the outcome of individual and collective experience of individuals and their taken-for-granted assumptions most often represented by cultural influences. Thus, an apparently coherent strategy of an organisation may develop on the basis of a series of strategic moves of which make sense in terms of previous moves. Its being discussed that strategic judgment most often influenced by experience, which can be further broken down into various forms. Managerial judgment in strategy planning or formulation could be as a result of certain circumstances, development and experience. Furthermore, Johnson et al (2005) discussed the elements that act as influence on judgment: Individual Experience and Bias Individual experience could be in terms of the mental (cognitive) models people build over time to help make sense of their situation. It exhibits certain characteristics; Cognitive bias is inevitable The future is dependent and related to in terms of the past experience Bargaining and negotiation between high-ranking individuals in terms of how issues are being understood Collective experience and organisational culture Johnson et al (2005) defined Organisational culture as, the basic assumptions and beliefs that are shared by members of an organisation, that operate unconsciously and define in a basic taken-for-granted fashion an organisations view of itself and its environment. Its also depicted in these characteristics; Managers understanding of the strategic position of their organisation Likelihood of strategic drift[2] Innovation requiring the questioning and challenge of basic assumptions The taken-for-grantedness of a firm may include its strengths which may provide bases for competitive advantage. CONCLUSION In summary, Strategy as design describes the strategic management process which is really the steps and sub-processes of an organisations strategy needed to maintain or improve the organisations performance. Its also been argued that business strategy requires judgment. Though, judgment is most often a personal evaluation and analysis which each individual is committed to, firms and managers captured by their past have higher resistance to change and low in innovation. Conclusively, some innovative business strategies are determined by culture of managers and organisations with their personal judgment, expectations and adequate design methodologies planning, others are simply a variation of luck owning to the fact that some firms just happened to be in the right place at the right time, by taking full advantage of some opportunities that may arise in the global market place, thus, realising it and then developing it into a successful strategy. REFERENCES Aaker, D (2004) Strategic Market Management (7th Edition) England: John Wiley Sons, Inc Burnes, B (2004), Managing Change (4th Edition) England: Pearson Education De Wit, B Meyer, R (1998) STRATEGY: Process, Content, Context (2nd Edition) London: Thompson Learning Fifield P. (1998), Marketing Strategy, 2nd Edition Butterworth: Heinemann. Harrison, J (2003), Strategic Management of Resources and Relationships: Concepts and Cases USA: John Wiley Sons Hitt, M.A; Freeman, R.E and Harrison, J.S (2001), The Blackwell Handbook of Strategic Management, Oxford: Blackwell Publishers

More Respect for Life and Fewer Cluster Bombs :: September 11 Terrorism Essays

More Respect for Life and Fewer Cluster Bombs    Many people's reactions to the atrocities of September 11 have gone from disbelief, to sadness, to anger, quiet or otherwise. We commonly hear that we have received a declaration of war, and should respond accordingly. This essay outlines my arguments for restraint.    The moral case. Morality should be universal. If attacking hostile governments by killing civilians is "evil" and "the very worst of human nature," then it is no better for the U.S. to do so than for Afghanistan to.    The terrorists who attacked the U.S. last week haven't spoken up, but probably would describe U.S. foreign policy with "evil," "cowardly," "despicable," and other words that Bush used. They believe that political ends and avenging wrongs from a foreign military justifies killing enemy civilians, even if their support for the government was only indirect. Analogously, Bush's speech stated that: "We will make no distinction between the terrorists who committed these acts and those who harbor them." Calls for a spectacularly bloody retaliatory strike aimed loosely towards the billion Muslims in the world are increasing, while dissent has been muted. Mountains of historical evidence document America's tolerance for heavy "collateral" damage when attacking the infrastructure of a demonized enemy, such as Saddam or Milosevic.    Tuesday's tragedy demonstrated America's surprising physical vulnerability, but, perhaps more disturbing, our response threatens to show a moral weakness that will be much harder to justify in hindsight.    The practical case. In Israel, extremists on both sides use terrorism and "random" violence for ends which are neither desperate nor irrational -- they aim to derail peace efforts and provoke a violent response on the other side that will cause moderates to reject compromise and side with extremists. "Jew" or "Arab" loses meaning in the face of the deeper struggle between hatred and tolerance, though typically only events such as Yitzhak Rabin's assassination by an extremist Israeli shock people into remembering. These oft-forgotten and crucial lessons from terror sound like Sunday school truisms: "the aim of violence is to beget further violence" and "blood cannot be washed away with blood."    These principles must sound a little other-worldly after Tuesday's atrocities, but there is no other time when it is more important that we remember them. Pausing to note that we can prove very little about the motivations of

Honesty in Pride and Prejudice and A Doll’s House Essay

Henrik Ibsen’s A Doll’s House and Jane Austen’s Pride and Prejudice are set in similar time period and feature protagonists who go through different struggles, but whose themes have some overlap. Honesty is a theme that is played out in both stories resulting in opposite consequences for the protagonists. The power of honesty can either hurt or enhance lives. The truth means ruination in Nora and Torvald’s marriage in A Doll’s House whereas the truth brings Elizabeth and Darcy together in Pride and Prejudice. Honesty in both male and female protagonists is equally important in forging good relationships between each other. In both stories, strong honesty shapes the two couples’ fates. Both novels begin with the dishonesty of female protagonists – one who has lied to her husband for eight years and one who keeps denying to herself her feelings about a man. Nora, the female protagonist of A Dolls’ House, seems happy about her marriage to Torvald. She does not seem to mind Torvald treating and patronizing her like a doll. However, Ibsen foreshadows Nora’s dishonesty with the very first word on the first page of the play: â€Å"Hide the Christmas tree away†¦(1)†, and Nora’s action is eating macaroons and lying to Torvald about it. She also acts like an impulsive and dependent child to Torvald as if she is hiding something, which is her knowledge of her business details – debt – that she acquired to loan in order to save Torvald’s life. Elizabeth, the female protagonist of Pride and Prejudice, is a young, intelligent woman whose virtue and independence enable her to overcome the bounds of social class and harsh society. However, her course of making rash and imprudent judgment often leads to her failure: she prejudged Darcy’s personality as the most â€Å"proud and conceited (11)† after only meeting him once. She hated everything about him based only on her prejudgment. As a result, she was not able to admit her inner affection toward him and kept denying her true feelings about him. Although Darcy proposes to Elizabeth in a most honest and gentle manner – though indirectly insulting her family and status – Elizabeth replies only with lies: â€Å"From the very beginning, from the first moment,†¦fullest belief of your arrogance, your conceit, and your selfish disdain,†¦which succeeding events have built so immovable a dislike; and I had not known you a month before I felt that you were the last man in the world whom I could ever be prevailed on to arry (166). † Elizabeth’s dishonesty to Darcy and to herself is the major obstacle to understand each other. Fortunately, Elizabeth’s mind starts to change as she learns about the truth of Darcy, but on the other hand, when Nora decides to reveal the truth, only disaster awaits her. Although Nora and Elizabeth both started as dishonest, they both decide to reveal and admit the truth that they must affront. Nora has been hiding the truth for several years from her husband because Torvald disallows anyone to make debt. However, she decides to test the truth of her husband’s love by revealing the truth of herself. Nora, who has been a doll of Torvald, is no longer a â€Å"little sky-lark chirruping† or a â€Å"pretty little pet† as her husband calls her. Her decision to confront the truth shows how ambitious, determined, and courageous a woman she is. Elizabeth, who has been trapped by her own prejudice, finally awakens and becomes honest to herself: she admits that she loves and feels compassion for Darcy. â€Å"How despicably have I acted! †¦ prided myself on my discernment! how humiliating is this discovery! Had I been in love, I could not have been more wretchedly blind†¦ but vanity, not love, has been my folly†¦ Till this moment I never knew myself. (178-179)† When Elizabeth acknowledges the truth about herself, her prejudgment vanishes. She allows herself to look back at what she has done and realizes her mistake in the relationship with Darcy. Both Nora and Elizabeth have changed since the beginning of the novel. They discover the importance of honesty in marriages and relationships despite experiencing different results. The two contrasting consequences not only depend on Nora and Elizabeth’s honesty, but also depend on their spouses. Nora believed that Torvald would understand her dishonesty because she trusted his love. However, when Torvald learns about the blackmail, Nora and Torvald’s marriage falls apart: â€Å"Miserable woman†¦who was my pride and joy†¦ a hypocrite, a liar, worse than that, a criminal! †¦they [people] might even think I was the one behind it all, I who pushed you†¦I’ve taken such good care of you†¦done to me?†¦ you’ll go on living here†¦you will not be allowed to bring up the children, I can’t trust you with them (75-76). In this moment of truth, not only Nora but also Torvald shows his true color. In order to keep his pride and reputation, he makes Nora live with him and pretends that they are married. Even worse, when Torvald receives the IOU letter back, he suddenly hides his true color, as if nothing has happened after he had said horrible words to Nora: â€Å"We are saved, Nora! †¦I forgive you everything. I know you did what you did because you loved me. (77)† Nora â€Å"understands† the truth of Torvald after revealing the truth of herself. She learns that Torvald’s love is not genuine, and their marriage has been fake and artificial. Nevertheless, honesty in Pride and Prejudice empowered Elizabeth and Darcy’s relationship. Although Darcy’s first proposal to Elizabeth was not successful, he tries once more as he writes a letter with honesty. â€Å"†¦may be offensive to yours, I can only say that I am sorry†¦I believed it on impartial conviction, as truly as I wished it in reason†¦pardon me, It pains me to offend you (169-170). † In this honest letter, he apologizes for the past arrogance and misinterpretation in Jane – Elizabeth’s sister – and Bingley’s – Darcy’s intimate friend – relationship. In the relationship between Elizabeth and Darcy, honesty enables them to understand each other and to succeed in the goal of marriage. Neither Nora nor Elizabeth was able to accomplish a powerful and lasting connection with their spouses until they knew who they were themselves, and until they learned the truth about their prospective spouses. Two male protagonists’ opposite reactions and attitudes in honesty shaped the fate of Nora and Elizabeth – separation and bond in relationships. Honesty makes Nora and Torvald’s relationship to decline but Elizabeth and Darcy’s relationship to succeed. Honesty does not always triumph; it can also worsen a situation. In A Doll’s House and Pride and Prejudice, both women learn that they also have to be honest with themselves, not only with other people. They also see the ultimate consequences in relationship will also depend on their spouses, not only on herself. Although both women were equally honest, perhaps Elizabeth was more fortunate than Nora in her choice of spouse and in finding the opportune moment to be honest, which allowed her to forge a fulfilling and sustained marriage.

3 Sentences with Punctuation Problems

3 Sentences with Punctuation Problems 3 Sentences with Punctuation Problems 3 Sentences with Punctuation Problems By Mark Nichol Commas serve a vital function as a fundamental organizing tool within sentences, acting as buffers that keep syntactical elements in place and as signals that indicate relationship. Often, however, they are incorrectly located, omitted, or inserted, adversely affecting comprehension. After each of the sentences below, a discussion explains why a comma is misplaced, missing, or extraneous, and a revision demonstrates the correct placement. 1. They are becoming engaged early in the business development or RD stage, and in some cases, evaluated as a potential acquisition targets. The first comma in this sentence is placed as if to separate two independent clauses, but the statement has only one clause, interrupted by a parenthesis, so the first comma must be moved to mark the beginning of the interjection: â€Å"They are becoming engaged early in the business development or RD stage and, in some cases, evaluated as a potential acquisition targets.† 2. Such a project should be treated as a business-transformation opportunity, creating large-scale initiatives that require attention and buy-in throughout the organization and should not be considered just another project. This sentence is punctuated as if everything following opportunity is a subordinate clause, but the clause ends at organization (and is inserted within the sentence as a parenthesis), so a comma must be inserted after it: â€Å"Such a project should be treated as a business-transformation opportunity, creating large-scale initiatives that require attention and buy-in throughout the organization, and should not be considered just another project.† 3. Financial institutions should make certain that such information is used accurately and responsibly, and that privacy, discrimination, and other legal risks are appropriately addressed. Here, the second of two phrases is unnecessarily set off from the first: â€Å"Financial institutions should make certain that such information is used accurately and responsibly and that privacy, discrimination, and other legal risks are appropriately addressed.† Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Punctuation category, check our popular posts, or choose a related post below:Farther vs. FurtherConnotations of 35 Words for Funny PeopleAppropriate vs. Apropos vs. Apt

Taking Some of the Stress out of Publishing in a Literary Magazine

Taking Some of the Stress out of Publishing in a Literary Magazine Literary magazines have served as gatekeepers for new writers since the first one was published in 1684 (Nouvelles de la rà ©publique des lettres). Some writers, such as T.S. Eliot, were first discovered through publishing in a literary magazine, and most well-known writers have published in them at some point.From webzines to university-funded publications, to The Paris Review- literary magazines have only increased in popularity over the past few decades, especially with the growth of online publishing. As a periodical devoted to literature, literary magazines (also known as literary journals) typically publish essays, poetry, short stories, interviews with authors, letters, literary criticism, book reviews and more.Why writers should publish in literary magazinesAs we mentioned before, many great writers have either gotten their start or increased their publishing opportunities significantly through publishing in literary magazines. Publishing in a literary magazine- especially i f its a well-known one- significantly increases exposure of a writers work and will open up other publishing opportunities, as well. Additionally, many literary magazines offer contests, allowing new or un-agented writers the opportunity to get their work out there and earn credibility in the publishing world at large.First things first: Find the right literary magazineWith a wide scope of literary magazines available, most have a niche market as their readership, and look for a very specific genre or format of writing to include in their publication. That being said, one of the first steps you should take to ensure better odds of getting your writing published in a literary magazine is to find the right one out of the hundreds available. Some cater to very specific crowds (like mothers of young children or green living enthusiasts) while others have wider audiences. Some publish only a few times a year, while others publish quarterly.There are several online resources available to help writers sift through whats available and find the literary magazine(s) that best suits their intended submission. Although its a paid service, DuoTrope is another great resource to help writers find everything from the best literary magazines to publish in for their specific niche or genre to agents interested in potentially representing their work. With this narrowed scope, writers have a much better opportunity of getting published in the literary magazine of their choice.Second: Follow the rules and dont submit blindlyLiterary magazines are generally very good about being specific regarding the exact type of writing they want, how to submit it, and what to expect. Following the publications rules regarding submission plays a big role in increasing the writers chances of getting accepted. Many literary magazines are run as a side project, which means their editors often dont have time to sift through manuscripts that dont follow submission guidelines or dont sync with the pub lications overall feel and purpose.Most respected literary magazines and webzines provide detailed submission guidelines on their website. Some allow email submission of a manuscript while others want a hard copy and SASE (self-addressed return envelope). Some literary magazines will charge a submission fee, as well, so its important to look at all of the submission guidelines before making a choice regarding which ones you want to submit your work to.Next, learn the lingoNext, its important to learn the lingo of the literary magazine market. Here are a few terms you might encounter in your search for the right publication for your work:Simultaneous Submissions†¯Ã¢â‚¬â€œ Simultaneous submissions are when a writer sends out his or her work to several magazines at once. Literary magazine editors will vary in their rules about simultaneous submissions: some will allow it while others are very clear they dont want a writer to do it. There are multiple reasons why an editor might no t want simultaneous submissions, including issues of publishing rights, which well cover later in this article. If submission guidelines advise against simultaneous submissions, dont be tempted to do it anyway. Many editors know other editors within the world of literary magazine publishing, so you dont want to get started on the wrong foot with any of them by not following this request.Withdrawal†¯Ã¢â‚¬â€œ This is the process you will need to go through if simultaneous submissions are acceptable and a literary magazine decides to publish your work. Usually, you can submit withdrawals of your manuscript via email or online, but some literary magazines have more formal ways of doing it. Refer to a magazines submission guidelines for more details about their preferences.Reprints†¯Ã¢â‚¬â€œ While most literary magazines prefer to be the first to publish a particular piece, some will offer publication of reprints, or work that has been previously published elsewhere.First Seria l†¯Rights – First serial rights are the rights held by a publication to publish a piece for the first time. After publication, the writer may then resell the piece to another publication.Non-exclusive / Exclusive Rights †¯Ã¢â‚¬â€œ Non-exclusive rights are rights held by the publisher to publish your work while acknowledging that your work can also be printed elsewhere. Exclusive rights are the opposite, in that the literary magazine or publication owns exclusive rights to your work and it cannot be published anywhere else, including on your author website.Know the slush pile and how to get out of itBrigid Hughes, former Executive Editor of The Paris Review, stated in an interview that the publication receives between 15,000 to 20,000 submissions in a year. Considering these numbers, its important to understand the dreaded literary magazine slush pile and what to expect of it. The slush pile is the pile (whether literal pile of paper or digital pile) of unsolicited m anuscripts sent in by writers wishing to be published in the literary magazine or webzine. Especially for the most well-known and exclusive publications, this slush pile is not the editors primary concern, and will often take a while to get to any manuscript within it. Further, the larger publications have readers who go through the slush pile, which means the editors might never see your manuscript in the first place.To end up in the non-slush pile for these exclusive publications, youll need to either have been solicited from the editors to submit your work, have an agent, or have published with the magazine before. But since most writers seek first-time publication in these literary magazines, its important to a) be patient as your manuscript makes it through the slush pile process and b) follow submission guidelines and magazine content style to the letter to increase your chances of surviving the slush pile. Simply put, busy slush pile readers might pass over great writing simp ly because its not formatted correctly, doesnt fit with the publications scope of content, or wasnt submitted following submission guidelines.If your work doesnt get accepted- keep tryingWith so many literary magazines and webzines currently in print or online, getting published in a literary magazine has never been easier. However, most editors of literary magazines have a very specific type of piece or writing style theyre looking for. If your manuscript is rejected- or worse, you just dont hear back at all- take heart in knowing that the more manuscripts you send out, the better your chances are at getting accepted for publication in a literary magazine.Another benefit to querying multiple publications (that are likely to reject you) is youll have several different opportunities to receive feedback on your work from experts in the industry. This type of feedback is invaluable for a writer and should always be received graciously. This is especially true since some editors will si mply reject your work without explaining why, while others will give you a general excuse, such as: Your work does not fit our publications goals at this time.

English Language in the Kingdom of Saudi Arabia Essay

English Language in the Kingdom of Saudi Arabia - Essay Example ARAMCO produces all of the crude oil in Saudi Arabia which massive oil reserves amount to over 25 % of the entire world's proven oil reserves (Cordesman 2003, pp. 465, 467). An important after-effect of this oil boom was the immediate massive importation of foreign engineers and other technical experts to man ARAMCO's oil depot, structures and offices. The common denominator of all these personnel was the English language. There arose a need to train Saudi employees and on-the-job Saudi technical people to learn and speak the English language in order to communicate with these foreign technical experts. This need to master the English language was heightened when King Faisal decided to utilise the huge oil revenues from the burgeoning Saudi oil industry to modernise Saudi Arabia by launching large-scale infrastructure programs in the fields of education, telecommunications, transportation, housing, health, social welfare, water, electricity and other utilities (Mackey 1987, p.43). This thereby necessitated importation of more foreign technical experts who had to be conversed and communicated with by the Saudi people in the English language. We also must not forget that annually more than 2 million Muslim people from all over the world converge in a requisite once-in-a-lifetime pilgrimage or Hajj mainly to the cities of Mecca and Medina and they too must be interacted with using the English language (Siddiqui 2006, p.70). ... so must not forget that annually more than 2 million Muslim people from all over the world converge in a requisite once-in-a-lifetime pilgrimage or Hajj mainly to the cities of Mecca and Medina and they too must be interacted with using the English language (Siddiqui 2006, p.70). Moreover, such gargantuan oil revenues had been decided also to be used for international operations in subsidiaries and joint ventures in USA, Japan, China, South Korea, Philippines, Greece and elsewhere, all designed for finding outlets for the country's immense crude oil production (Cordesman & Al-Rodhan 2006, p.211). The Saudi oil bonanza had also raised the standard of living and modernised practically all aspect of Saudi society. In the realm of business, Saudi Arabia has suddenly become a commercial hub. It had successfully beckoned several multinational companies to establish business interests in the kingdom. The banking system was energised with the establishment of such banks as Saudi American, Sa udi British, Saudi Dutch, Saudi French etc. Businesses like supermarkets, hotels, restaurants sprouted which all required from their personnel working knowledge of English, the world's lingua franca. Even established corporations such as Saudi Airlines, Aramco, Dallah, Samarec etc. require all their personnel to possess a high level of proficiency in English, which is a sine qua non requirement for acceptance in their employment. All are required to undergo further honing of English skills with more training and instruction (Fishman et al, 1996, p.460). The elevation of the standards of living has necessitated the employment of 8.8 million expatriate workers who are employed on jobs that native Saudis cannot fill or are unwilling to fill and of these some 2 million are English

Federal Reserve system Essay Example | Topics and Well Written Essays - 1250 words

Federal Reserve system - Essay Example Changing the reserve requirements. The banking system is required to keep a certain amount of the deposits in reserve, while the rest is given out in terms of loans. This amount which is defined in terms of reserve ratio determines the amount of money the financial institutions can create out of the deposits reserved. The FED can either increase or decrease the money supply by altering the reserve ration required from the banking system. When the reserve ratio is lowered the banking system will be required to decrease the deposits in reserve, thus increasing the lending capacity. This in turn will increase the money supply. Alternatively, if FED raises the reserve ratio the banks will be forced to increase their reserve deposits and thus lower the lending capacity. This will eventually decrease the money supply. Changing the reserve requirements is potentially the most powerful tool because a small change in the reserve can causes big changes in the money supply within a very short t ime. Open market operations. This is the most commonly used tool in the daily operations, and is concerned with the purchases and sales of the government in the open market. FED controls the money supply by either buying or selling the government bonds. ... Banks create money by borrowing from the FED reserves or taking account receivables to FED. FED in turn imposes a discount on the loans made. Money supply can be increased by decreasing the discount rates which encourage banks to borrow more from the Federal reserves. Conversely, a lower discount rate will discourage banks from borrowing and thus lower money supply. Question two Easy money policy A 10 Real rate of Interest (%) 8 6 125 150 175 Amount of money demanded and supplied ($ billions) B Real rate of 10 Interest and Expected 8 Of profit (%) 6 investment demand 15 20 25 Amount of investment ($ billion) C P 3 Price level AD3 P 2 AD2 P 1 AD1 0 Q1 Q2 Q3 Real GDP ($ billion) Tight money policy A 10 Real rate of Interest (%) 8 6 125 150 175 Amount of money demanded and supplied ($ billions) B Real rate of 10 Interest and Expected 8 Of profit (%) 6 investment demand 15 20 25 Amount of investment ($ billion) C P 1 Price level AD1 P 2 AD2 P 3 AD3 0 Q3 Q2 Q1 Real GDP ($ billion) A = the money market B = Investment demand C= Equilibrium real GDP and the price level Easy money policy can be achieved by making money less expensive to borrow. This means that FED can buy government bonds, decrease the federal funds rate, or decrease the reserve requirements. On the other hand, tight money policy is achieved by making money more expensive to borrow. FED can sell government bonds, increase the federal funds rate, or increase the reserve requirements. Question three The use of monetary rule by FED is based on Taylor’s assumptions of macroeconomics. In this model, price and inflation are steered by three factors; Employment Index, Consumer Price Index, and producer prices (Twomey,