Optimal Number Of Firms In The Market Essay Example | Topics and Well Written Essays - 1500 words

Optimal Number Of Firms In The Market - Essay Example Imagine if the world is consuming what has been given to them, the world is being operated on daily basis, such as a limited amount of food is prepared daily and in order to prevent the food from getting stale, people consume every unit of it, is it possible Of course there is no chance for such situation, so we have to consider even bigger policies for production and consumption, may be we can use the past records of what is the optimal level of production and consumption or at which particular level firms are having maximum profit and minimum loss. We now have to consider the importance of the circular flow or economic cycle, the market system heavily relies on the supply and demand to solve the three major arising problems that are What goods and services will be produced, it is determined by the daily purchasing decisions of the customers as keeping it on the yearly basis can be very risky, one can see that over the past few years the bird flue took place significantly, therefore we cannot rely on yearly basis as the behavior of consumers can change unpredictably. The second problem is How things or goods produced would be rated in terms of pricing, of course there is a competition everywhere, so the problem of differentiating the product arises. Taking the example of bird flue there are many other issues that are very common in every day life such as at times there is drastic change in the technological market, such as everyday a new computer technology replaces the old one which eventually results in greater competition and brand switching. The third issue is For whome things are produced, here the focus is obviously on consumers and their level of consumption, but supply and demand has a major role to play here. The immediate task the companies have to face is to determine the wages, land rents, interest rates and many factors related to everyday life, it is explained thoroughly later in this discussion. The circular flow is all based on the previously d iscussed three problems. What the flow intends to show is that all the money is constantly moving within a frame of a country, there are minor changes but over all the flow is constant until and unless some big change takes place such as war. The circular flow is all comprised of four things, those are product markets (prices are set by the markets keeping in view the scenario), Household markets (the buyer behavior which keeps on shifting but over all the money utilization and spending is unchangeable), the business sector (which pays the rents and wages to the people working, who are also at the same time are households) and the factor markets (which keep on changing the rents, wages, interests but over all the wealth remains within the country, if less rent for one person may be much higher for another person). Until and unless these problems would not be solved which of course cannot be solved the firms would find it impossible to be operated at an optimal level. "Dollar votes of households interact with business supply in the product markets at top, helping to determine what is produced.

Amercian History Essay Example | Topics and Well Written Essays - 750 words - 4

Amercian History - Essay Example And, of course, as there are with any widespread political movement, there were economic reasons why the Revolutionary vanguard declared independence. Legislation passed by the British Empire made it increasingly difficult to operate apart from the state itself. Taken together, all of these factors comprised what Americans now characterized as â€Å"tyranny†, as it is phrased in the Declaration of Independence, put to the pen of Thomas Jefferson in 1776. Any account of the American Revolution will inevitably say there was no one true cause, or reason, for the Declaration; instead, a broad array of social, economic, ideological, and philosophical reasons can be described as contributing factors to what led to the creation of the United States. In the years leading up to the American Revolution, sentiments against Great Britain seemed to center on ideological and philosophical shifts away from desires to remain attached with the mother state. But in the decades before the Declaration, shifts seemed to occur on the political and even economic level. The Seven Years War drained the financial reserves of the British Empire, and the Navigation Acts, designed to alleviate this pressure, caused resentment among the American Colonies. Additional political and economic burdens on the colonies by the financially downtrodden Empire, such as the Sugar Act, Currency Act, Stamp Act, and Revenue Act between the years 1764 and 1766, led to a rift in political interests. Stories like that of Ebenezer Macintosh, and his protests against the British Parliament’s passage of the Stamp Act, illustrates for historians and students of history alike what direction American feelings for British were going in, even a decade before the Americ an Revolution officially began. Today, American historians look back as far as 1763 to see the earliest examples of strong Parliamentary interference in the

A report on the poultry industry

A report on the poultry industry This report studies the poultry industry in the Sultanate of Oman, highlighting the strong performance and growth in the future. Will be identified ASaffa food as producer and supplier of its products and its position as market leader in the industry. The important cultural and social trends reported are the increase consumers awareness of healthy food, as well as the changes of the economic climate. It was found that the attractiveness of poultry industry has declined because the highly competitive of rivalry and power of buyers and also higher threats from substitutes. Its also addressed that the position of ASaffa is medium of the change of the attractiveness of the industry. Three significance functions of ASaffa : first is the logistics and Distribution network , where ASaffa can make efficient and quality control of distributions of its products through the network in the country. Secondly operations, which includes inventory management, quality assessment which support in value creation and third one is sales and marketing which keep ASaffa completive by providing promotions offers. In other side, found that ASaffa has three important resources and capabilities which can make its extremely proficient supply chain; success full supply chain, brand reputation and the location of the firm. At the end, recommendation is in two manner, a short term by budgeted more cost on advertisement of ASaffa as a healthy producer and convenience the consumers that the farm using natural chicken feed. In the Long term, recommended to focus on differential factors like diversify into more profitable fresh and frozen food due to probability of increase in the cost of production of the industry and which lead to less probability. Table of Contents: 1.Introduction 4 2.External Analysis: 5 2.1Macro environmental factors affecting the Industry (PEST Analysis): 5 2.2Porters Five Forces Analysis: 6 2.3Comparison of industry Attractiveness for ASaffa: 8 3.Internal Analysis: 8 3.1Assessing of food chain ASaffa Foods participate in: 9 3.2 Value chain Analysis of ASaffa Foods: 9 3.3Assessing a significant Resources and Capabilities of ASaffa Foods: 10 3.4SWOT Analysis: 12 4.Strategy Options: 12 4.1TOWS Matrix 12 13 4.2Scenario Analysis: investigate different futures: 14 4.3Strategic Direction with Ansoff Matrix 14 5.Recommendation: 15 6.References: 16 Introduction This report study ASaffa Foods S.A.O.G (ASaffa) position in the Food industry in Sultanate of Oman. To understand ASaffa Foods Strategy, will assess its internal operations and then its successful. Then, can make recommendations for sustained competitive advantage of a future based on an assessment of external factors that affect the market. With the growth of economic globalization, Food industry in the Sultanate of Oman becomes an additional significant last ten years. The poultry industry is extremely competitive in Oman and ASaffa Foods is leader of the market with biggest annual production in Oman, Gulf Countries and other countries. ASaffa raised its continuing ability to meet the growing demand in the country and abroad. Starting with capacity of 7500 MT in 2004 and increased to the current capacity of 17000 MT per year. The company I planning to add more capacity to achieve the capacity of 21,000 MT by end of 2011. In addition, the company announced its entry in Bahrain and Yemen, and is planning to enter Kuwait in the near future. The revenue driver of the Company is 35 % from Omani markets. The vision of ASaffa is to become No. 1. and mainly winning diversified food firm in Middle East. The products of ASaffa are natural, healthy and slaughtered as per Islamic law Halal. A Saffa has produce a frozen and fresh chicken products. Although, that Dhofar Poultry Company SAOG , Barka Poultry Company and Sohar Poultry are the main competitor of ASaffa Company but ASaffa is still a single player in the industry in Oman with 25 % of market share . To meet the increase demands from domestic from Oman and Gulf countries, ASaffa has a big capacity of its farm which allocated in Thumrait in the south of Oman, which is the most modern international manufacture techniques and machinery. With a home grown market share for poultry products of over 25 per cent and plans to increase this to nearly 35 per cent in the near future, ASaffa Foods core business is making great strides to reduce the dependency for chicken imports to the Sultanate (Oman Observer newspaper, Feb 1 ,2011). In addition, and as part of its plan, ASaffa continues to maintain its reputation as a leader in the food market and domestic production in Oman through the establishment of a study facility for the production of table eggs for 100 million annually, and manufacture of processed meat products. ASaffa uses its skills and expertise to assist in issues of food security in the Gulf Countries. Where the company working as a consultant to assist in the build and operate of the largest poultry manufacture in Qatar. External Analysis: The external environment analysis provides the company with a significant external link between its customers, competitors and the products it offer. In this section will analysis the external macro environment that affects the industry by using PEST analysis and examined how it will impact the profit of Al Saffa . After that will assess the position of the competitive environment by using Five Porters and will look at to the attractiveness of the industry to Al Safa in the upcoming years. Macro environmental factors affecting the Industry (PEST Analysis): This step is to identify the trends and issues that will affect and change the industry. Political Factors: The government of Oman encourages the supports the business of food toward the food security in the country by grants such companies. In Oman, Exempting Wholly Omani Owned Companies from Tax for 5 Year (The law of income tax on companies, Oman,1975). This trend is give the company opportunities brought by changes of the government and public attitudes toward the industry, changes in political institutions and the direction of political processes, legal issues, and the overall regulatory climate. Economic Factors: The economic changes in the world led to increase the level cost of food consumables, hence the consumer are thinking of other alternatives food at low prices. For example, buy frozen chicken at the lowest price rather than fresh chicken with higher-price. To compete on the low cost alternative, the company produces a frozen food instead of focusing on a fresh food only. With international commodity prices rising it will also become increasingly expensive to import food products making it more important than ever for the Sultanate to lower its dependency on imported food (Oman Turbine, 2011). Social Factors: The main social trend is increase of the customers awareness of the health food, and this lead to produce a healthy and fresh alternatives food. This trend gives the opportunity for the Company as the main player of Poultry Farms in the market. But in other side, its also making a potential threat in niche farmers markets in the internal region of the country which focus in produce the fresh Poultry Farms. During last three years, ASafa achieved and gaining Macro poultry industry in Oman and also invested the opportunity in the market. On more social factor is the trend of people to be more convenience by buying their needs from a single store includes all the products. This trend also makes the company the opportunity to increase demand for its products due to the distribution of their products to the largest number of retail market. This is an opportunity for also people to buy a fresh poultry in a manner faster without loss of time and effort where the consumer does not need to go to poultry farms to buy fresh poultry. Technology Factors: ASaffa has a modern international manufacture techniques and machinery. However, the technology is changing rapidly and do not need to spend more cost to renew or replace the old machine for long term. Porters Five Forces Analysis: In this section will assess the attractiveness and profitability of the poultry sector in Oman than assess the relative position of the company in the industry . Threat of substitutes: by examining the market, the threat of substitutes is high in poultry in Oman because ASaffa Foods faces many indirect competitors from farmers markets. Existing indictors in the local market , the indirect competitors are potential substitutes to ASaffa Foods and create threats in the future. Farmers markets have seen a significant expansion in Oman and providing a fresh food with convenience choice. With increasing the health consciousness towards health alternatives, the farmers markets sell fresh products and natural produce and this also cause a threat potential in the future. Degree of Rivalry: in Oman, the poultry business is highly competitive. Because the small number of main players in the market and lack of differentiation due to nature of products, a high degree of rivalry is exists in the market. Hence, the competition is based on price and other factors like sell location and choice of product. There is an increase in future rivalry due to the entry of new local company Barka Food (because their business will focus on the north area of Oman, which have a large number of the population) and also new competitors from UAE and Saudi Arabia which will make the industry further competitive and risky threat in future . Barging power of suppliers: bargaining power of suppliers is extremely very low. ASaffa Foods controlling market share for poultry products of over 25 per cent and numbers of local suppliers have a very limited choice of intermediaries to select from. Thus, ASaffa Foods is the main customer and purchaser of raw material in the industry. On the other hand, this set to change with the entry of new companies with Government policy increase the competition in the industry. Therefore, the bargaining power of the suppliers is a middle in the future because expect a bigger selection to deliver to. Barging power of buyers: the buying power of customers is in an increase. The government raise the level of food security by supporting and encourage the small-scale producers and reduce the competition barriers by allow farmers markets to come in the market which lead to increase customers selections (Al Watan newspaper, 2009). As a result, the customers barraging power is increase and thus, the increase of customers bargaining power will enable customer to compare prices and select the cheaper alternative and this aspects take customers barging to a further medium level. Threats of new Entrants: the threat of new entrants is low and this is due to the role of government of Oman to support the local business of food toward the food security in the country. ASaffa also says that it has no fear of other competitors entering the market place either in Oman or the region (Times of Oman, 2010). Despite that this market does not require a high infrastructure, but its needs experience to manage the project efficiently and its easily to be exposed to losses because spread of diseases (e.g Bird Flu) or change the social factors of people regarding the health food. Comparison of industry Attractiveness for ASaffa: From previous section on the Porters Five factors analysis, the poultry industry identified reasons of the weak bargaining power of suppliers and buyers and barriers to entry. Consequently, the company achieves profitability until now. Therefore, the position of ASaffa is medium of the change of the attractiveness of the industry. Also, the profit of Company may be decrease from high to medium in future. The reasons for this are increase in bargaining power of suppliers and buyers with the bigger rivalry and the entry of new companies. When the industry attractiveness and profitability has decreased from earlier levels, the capability to do better than its rivals depend on the Companys resources and capabilities which can develop in the future. Industry Attractiveness / Profitability of ASaffa Foods until now. Internal Analysis: In this section will identify the major resources and capabilities of ASaffa Foods by evaluating the situation of ASaffa Foods in the food chain to participate in and examine the major role within ASaffa Foods value chain which delivers the large amount value to the firm. Assessing of food chain ASaffa Foods participate in: ASaffa Foods is the sole supplier of all their chicken products and the food chain is provide wholesale with a channel to reach end consumers. The Company has a big farm with high capacity and intends to increase the production in the future to meet growing demands in Oman and Gulf countries. The ASaffa farm is on the main highway between South of Oman (Muscat city) and South ( Salalah city) which make distribution process are quick and well-organized. The Farm has its own water supply . From the poultry resource, no serious issues of supply chain face the ASaffa Foods. A dedicated Supply Chain Management (SCM) team works round the clock to identify potential suppliers and procure the required high quality raw materials in a timely manner (www.asaffa.com). Value chain Analysis of ASaffa Foods: ASaffa has made possible 100% product availability through its branch Sales offices spread across Oman covering all the regions and the interior markets. This is a very healthy sign of effective and intensive distribution system across the country. The total coverage exceeds 1600 outlets. With extensive branch network covering entire Oman, our reach is not just limited to groceries, we also cater to restaurants, butcheries, catering companies and other institutions. There are three main value creating functions to deliver Companys commitment: Logistics Distribution Network: the chickens feed is manufactured in ASaffa and therefore, the company has own operational control of the logist to conduct QA audits to ensure that the products is in a high manner. ASaffa Food is the sole supplier of all their products and its control the network of distribution of its products. To ensure that ASaffa products are available in every Hyper Super Markets and retail stores, ASaffa has owned a fleet of 25 reefer trucks to deliver a frozen and fresh product to be available to the customer at all time and across Oman. Operations: this includes inventory management, customer satisfaction and quality assessment. ASaffa offers a large choice of new products to its consumers. Quality Assessment: ASaffa has a commitment of the importance of the quality of its Clients/Buyers and to deliver highest quality of products .Also, the Company implements a Hazard Analysis and Critical Control Points systems. Furthermore, the chickens feed is manufactured in ASaffa farm by using a scientific feed management and this allow the Company to control the quality of natural fed. Inventory management: using a technology to make sure that stock level is adequate at all time. Also, using forecasting system to prevent unexpected increase or decrease in demand of the product. Sales and Marketing: as mentioned before, ASaffa Food is the sole supplier of all their products and its control the network of distribution of its products. Therefore, ASaffa Food is compete successfully and increasing its sales by a promotion of a product inside a shop, committed to deliver the fresh products to retailer on time and enhance a consumer research and environmental changes. This is an important to identify and use a strategy to compete successfully in future. Assessing a significant Resources and Capabilities of ASaffa Foods: Strategy capability examines different types of resources and competence within the organization in order to survive in the market. There are two types of resources, first is physical or tangible of the organization including (finance, Plant and labour). The other resource is the intangible resources which consist of (knowledge, brand reputation and information). To compete, ASaffa Foods is using strategy of differentiation and cost leadership by adopting an efficient supply chain to control the cost and brand image. Asaffa growth-oriented strategy to branch out into other complementary products began in 2009 by adding value-added packaged food products. The packaged products are currently out-sourced from the UAE and its contribution to the companys bottom line is less than 10 per cent. ASaffa has four significant resources and capabilities: Successful Supply chain: ASaffa food has an efficient distribution network across the country. The tangible assets such a manufacture of Chickens food and technological capabilities are important for ASaffa food to achieve a higher EBIT. But successful supply chain in inadequate as a distinct competency. Brand Reputation: ASaffa Food has built a brand reputation as providing a fresh food and Halal local products (The term is used to designate food seen as allowable as per Islamic law). This has already been through the consumer experience with products and also advertising campaign undertaken by the Company to promote its products. The reputation of the brand is very important of the consumer satisfaction. Therefore, the reputation is not a competitive advantage .it is a point of equality that the Company must have in order to compete. Financial position: the Company has a good financial position in the market .In addition; the government has supported the company by a Tax exemption which was expired in 2009. Regardless of the tax deducted for the next years, the profit after tax is expected to increase for the next two with an growth plan. Location: ASaffa has a big capacity of its farm which allocated in Thumrait in the south of Oman. This location gives ASaffa more advantage to build a big farm with water resources, government subsidy by not charging any cost of land and also near the big city in Oman. Despite the above resources and capabilities of ASaffa, the Company has facing a change in its top management. The growth on Omani economy has resulted in number of opportunities available to professionals. this created a challenge for ASaffa to change its HR policy by encourage the existing top management by pay high salary and others benefiters. Tax exemption which was expired in 2009, will lead to high cost of structure for next years. In addition, ASaffa has a large capacity of the production of the fresh chicken and to change to frozen chicken, it would be more cost for the Company. SWOT Analysis: Examination of the internal and external environment is significant measurement of the strategic planning process. SWOT analysis gives information that is useful in matching the resources and capabilities of ASaffa to the competitive environment. Summary of SWOT analysis of ASaff Food External Analysis Internal Analysis Opportunities : Low of new entrants Government support. Strengths: Strong brand name Good reputation Healthy and quality food Distribution network Create new products Location of the farm. Threats Substitute products. Industry is highly competitive. Shift the consumer from fresh products to frozen foods. Trade barriers between Oman and other countries e.g Yeman. Weaknesses: High cost structure. Losing effecting top management Strategy Options: TOWS Matrix By examine the Company Threats and Opportunities (External Environment) and the weakness and strengths (Internal Environment) , it can be understanding ,identifying and developing a strategy options for ASaffa Food. Its important for ASaffa to build the majority of its above strengths, avoid its weakness, take advantage of the opportunities available and control its threats. The following is the TOWS Matrix, gives A Saffa the options that can be could followed: External Opportunities (O) Low of new entrants/Government support. External Threats (T) Substitute products./Industry is highly competitive./Shift the consumer from fresh products to frozen foods./Trade barriers Internal Strengths (S) Strong brand name/Good reputation/Healthy and quality food/Distribution network/Create new products/Location of the farm. SO Maxi-Maxi Strategy Using strengths to maximize opportunities. ST Maxi-Mini Strategy using strengths to minimize threats. Internal Weaknesses (W) High cost structure/ Losing effecting top management. WO Mini-Maxi Strategy minimize weaknesses by taking advantage of opportunities. WT Mini-Mini Strategy minimize weaknesses and avoid threats. From the above evaluation of options, the Maxi-Maxi Strategy which use strengths to maximize opportunities is the most benefit to achieve the mission and vision of ASaffa Food. Scenario Analysis: investigate different futures: Scenario Analysis is useful way to assists ASaffa to make judgment in the situation of the different futures that could arrive. The take steps of make scenarios forces ASaffa to challenge its assumption about the future. By determining the Company plans based on a possible scenarios, than Company can make sure that its decisions are right even if environmental changes. The following is same of Scenario analysis process for ASaffa Food : High cost structure: ASaffa is planning to become a number 1. In the Middle East by soon. this can be done by providing a high quality of the fresh and frozen food with competitive price. From the PEST analysis, it was reported the key factors of political, economic, social and technological that impact the cost of products in ASaffa food. Thus, the key assumption of reducing a cost of products are: Build a new farm of poultry in North of Oman to increase the sale and reduce the cost of sale. Using international advert to keep up a market position of ASaffa products in order to increase the sale of fresh products Build a marketing plan to sale the fresh products during the period of validity, so that the company not losing a cost of products if the is expired. Developing the above Scenarios: A Saffa can start with improbability scenario of build of new farm in North of Oman . the future scenario will one of the following: Economy in Oman going up: with government support to the local firms to be more competitive. Hence the Company will have a sustaining competitive advantage over ten years. Economic slowdown : then the Company will have more cost of capicty which effect the cost advantage and loss the market. Strategic Direction with Ansoff Matrix Defining strategic direction might be a big challenge for Asaffa Foods. Ansoff Product/ Market matrix is a tool to recognize the basic option and directions for Asaffa Foods. Taking into consideration Asaffa Foods approach to develop new product and penetrate new markets, four different possibilities can be applied. Taking into account these combinations, Asafaa Foods seem to successfully attract and penetrate the highly competitive markets by offering its high quality products in a competitive price as the company have a competitive cost advantage. This itself will additionally define its market development and growth with reputation locally as well as existing market and internationally as new market, which will develop and enhance the existing products in the new markets. Asaffa could also move toward product development strategy with their existing capabilities or creating new ones to assure total satisfaction of the changing needs of the customer by developing new products. The company can also implement a diversification strategy and add new production lines such as dairy products as it has the capabilities and resources. Recommendation: In future,Asaffa should have a framework and control models. Those models have set targets, feedback, and measurement of performance (Frances, et al, 2007). For instance, the Company by applying those models can recognize if there is a gap between released direction and desired trend. By this technique, Asaffa Foods can set a plan for unforeseen events and circumstances. As an example, in the near future, there will be more existing or new Food production companies entering the local market. In this situation, Asaffa Foods can use its cost control advantage and adjust its plans to overcome the change in the aggressive competitive forces. The variable actions are planned by Asaffa Foods in nonstop developed process to administrate and control the unforeseen events the dynamic changing environment. Those actions are best technique to maintain the existing competitive advantage associates with the firm (Frances A. et al, 2007). By apply this technique; Asaffa Foods will improve the strategic planning which therefore, keeps the company doing well in long term

Shiloh :: essays research papers

Shiloh   Ã‚  Ã‚  Ã‚  Ã‚  There are several elements of literature that can be analyzed when discussing a good short or long story. The elements are plot, characterization, theme, setting, point of view, irony and symbolism. I read the short story Shiloh and have chosen to discuss the plot of this story. This is a great story expressing the way miscommunication in a marriage can tear the marriage apart. This is story is told in the first person by Leroy Moffitt. He is the main character who deals with conflicts within himself, his wife, and the environment around him. Shiloh first begins discussing how Norma Jean Moffitt (one of the main characters) is working at transforming her body by excessively working out. Leroy Mallard, her husband, had been a truck driver 15 years of their marriage. Now he is no longer driving truck, has suffered a highway injury to his leg and is in a wheel chair at home. The first conflict in this story is between Leroy and his distance from his wife for such a long time. Mrs. Moffitt has been trying to cope with her husbands’ absence by doing other activities such as: working out, going back to school, and visiting with her mother. Another conflict resides within Leroy himself. He has not been there for his wife and he is trying to make it up to her in any way he can. This couple has been through the loss of an infant child in addition to Leroy’s absence. This is another issue that is causing them to experience the conflicts they do. Mr. and Mrs. Moffitt do not speak of this lost child, which causes more conflict between their marriage  Ã‚  Ã‚  Ã‚  Ã‚   together. Leroy, once being settled at home with nothing to do, began to work with his hands to construct or design objects. He wanted to build his wife a log cabin as he was making replicas out of toothpicks. I think him wanting to build this house is to prove to himself and his wife that he can still be productive and good for something. The relationship Leroy has with Norma Jean’s mother is quite different. Any time she comes around, he makes jokes instead of having real conversation with her. I think he makes the jokes to ease the tension and to not address real issues that are present. Leroy has also stated that all those years driving in the same neighborhood he did not take the time to notice how much it had changed.

Gang Leader for a Day Essay

In so doing, Venkatesh revealed a complex mix of subculture (the Black Kings were a highly organised gang with a clear hierarchy, recruitment rituals, and socialisation processes) and culture – the gang were embedded in the day-to-day life of the Projects. Although their primary purpose was to make money through selling drugs (mainly crack cocaine), they also performed a range of secondary functions within their territory – from the provision of protection for Project residents from other gangs, through the organisation of social activities (such as Basketball games), to policing the Projects (involving things like the provision of shelter for â€Å"the homeless†.). a. Ethnicity: His South Asian ethnic background allowed him to pass among the overwhelmingly African-American subjects of his study in a way that would have probably been denied to him if he had been white (since the only â€Å"white faces† in the Projects were those of the police – and, with one or two notable exceptions, they rarely ventured into the place except to make arrests and, it is implicitly suggested, extort protection money). Venkatesh’s initial encounter with the Black Kings was one where he was mistaken for a member of a rival (Mexican) gang – his ethnicity was variously considered by the people in the Projects to be â€Å"Mexican, â€Å"Spanish† or the largely-ubiquitous label  Ã¢â‚¬Å"Ay-rab†. The fact he was relatively young, casually dressed and a student at the University also gave him credentials accepted by both those in the gang and the Projects generally – something that leads into a second consideration: His ethics, however, are questionable. He started doing research and had not gotten human subjects approval. He deceived his advisor and dissertation committee about the extent that he was embedded into the gang. He saw clearly illegal activities take place and never told anyone, and once or twice did something illegal. Their claims are not only that he was unethical, but that he put people’s lives at risk, that he lied to his main informant, JT, to get into the research site, and the only person who has benefited from the book is Venkatesh. To be fair, Venkatesh did teach a course when asked to, and on occasion he brought food or drink (often alcohol) to parties and such. The tenured radical folks mention approvingly  Mitch Duneier’s Sidewalk (another great book) about homeless people and how he shares his royalties with those whom he interviewed The book’s main focus is on race, as it examines the day-to-day struggles of the virtually all African-American residents in a poor housing project. However, there is much in the book that could be mined for courses in deviance, race⠁„ethnicity, inequality, research methods, sociology of organizations, and to a lesser extent, gender. Issues of class, race and identity also surface, as Venkatesh (the child of middle-class South Asian immigrants) discusses his role as a â€Å"brown man† Southern Californian, and how his experiences shape his academic vantage point. Venkatesh sets up a clearly delineated debate on the qualitative-quantitative divide, coming down squarely on the qualitative side, learning early that the question â€Å"How does it feel to be Black and poor?† is n ot easily answered using a Likert scale. He deftly highlights issues of ethics, identity, race⠁„class⠁„gender dynamics in data collection, the realities of ethnographic work, and the value and use of qualitative versus quantitative methods of collecting data. Gang Leader for a Day throws into sharp relief the thorny issues of conducting ethical research. For instance, Venkatesh struggles with maintaining allegiances with powerful community members, while trying to forge close ties with less powerful residents. Venkatesh gives refreshingly honest, clear examples of his missteps. For instance, he focuses the target of his research on the underground economy of three high-rise buildings within the gang’s territory, and collects detailed information from residents about how much money they make, expenses they incur and so forth. Venkatesh talks with pimps and prostitutes, as well as those who sold food or offered child care in their apartments, styled hair, prepared taxes, offered psychic fortune telling, performed carpentry, fixed cars, collected scrap metal, as well as a host of other off-the-books businesses. Venkatesh provides a vivid, gritty account of life in a notorious Chicago housing project. His book interweaves issues of social class, race, ethnicity, gender, crime, deviance, and the study of organizations. Moreover, his perspective on the discipline is a compelling one; a self-described â€Å"rogue† sociologist,

General Electric Essay

General Electric is an American conglomerate currently ranked #9 on the Fortune 500 list. The firm operates in four primary business segments; Energy, Technology Infrastructure, Capital Finance and Consumer / Industrial. Headquartered in Fairfield, CT, General Electric has grown over the past 122 years into a financial behemoth realizing revenue in excess of $146 billion in 2013. Throughout its existence, General Electric has demonstrated an inconsistent record in terms of ethical governance and responsible business practices. Like many of its peers, the firm endured a number of scandals, particularly in the late 1990’s and into the 2000’s. In response to these issues and in accordance with the Sarbanes-Oxley Act passed in 2002, General Electric has transformed its business practices and is now recognized as one of the more respected players in the world of corporate governance and honorable business practices. Contemporary business practices exercised by the firm have earned numerous accolades including: – #6 Best Global Brand (Interbrand) – #10 Most Admired Company (Fortune) – #180 Greenest Company (Newsweek) To understand how this corporate evolution occurred, we need to understand the organizational structure and managerial best practices utilized by General Electric and the nature of the legislation that necessitated this institutional change. What is Sarbanes-Oxley? The Sarbanes-Oxley Act of 2002 (SOX) is a federal law that mandated new or enhanced standards for all U.S. public company boards, management and public accounting firms. Drafted in response to a number of high-profile corporate scandals that occurred in the late 1990’s and early 2000’s by U.S. Senator Paul Sarbanes and U.S. Representative Michael Oxley; the legislation imposed several powerful mechanisms designed to curb corporate malfeasance and to protect investors. The most significant of these mechanisms included individual certification of corporate financial statements by top management, increased penalties for fraudulent activity and the separation of auditing and consulting functions in outside business agencies. (www.soxlaw.com) The overarching effect of this legislation was the increased scrutiny of financial statements submitted by publicly traded  companies and growing corporate auditing expenditures. (Sidime, 2007) Board Composition: structure and governa nce General Electric has been a progressive company in terms of Board composition and governance. (see composition matrix – attached)For decades, the company has demonstrated a desire to promote diversity in governance from three primary perspectives: gender, race and age. In addition, General Electric had historically satisfied many of the obligations outlined in the Sarbanes Oxley legislation well in advance of its passage including listing the definition of individual committees and the number of committee meetings. (General Electric Annual Report – 2000) One potential conflict that exists with the General Electric governance strategy is the combination of President / CEO and Chairman roles. This is a practice that the company has exercised since Ralph Cordiner combined these responsibilities in 1958 and continues today with Jeffrey Immelt serving in the role since 2001. An additional challenge that exists within the Board structure of General Electric is the lack of ter m limits. Nominated individuals are approved annually through a majority of votes present and may continue to serve indefinitely. This issue was debated recently when shareholders proposed a 15 year term limit of Board service along with separation of the CEO / Board Chair role. The measure was defeated in a lopsided vote held during the company’s April 2013 Board meeting. (Catts, 2013) Audit Committee Consisted of outside directors. Held 5 meetings in 2000. Reviewed the activities and independence of GE’s independent auditors as well as the firm’s financial reporting processes. Composed of independent directors. Held 11 meetings in 2003. â€Å"to review the activities and independence of GE’s external auditorsand the activities of GE’s internal audit staff†¦also reviewed GE’s system of disclosure controls and procedures.† Composed of independent directors. Held 12 meetings in 2013. Primary responsibilities include: selection of independent auditor, review the independent audit, oversee the firm’s financial reporting activities and accounting standards. Tenure Combination of cash & stock. $75,000 annual base plus $2,000 per meeting. Combination of cash & stock. $250,000 base, 10% premium for service on auditing or compensation committee. Removed contingent service reward of 5,000 shares. Combination of cash, stock & other. $250,000 base. Average compensation = $302,457 The moral of the story as it relates to Board structure and Governance within General Electric is that while the firm did work to shore up its regulatory and oversight positions post SOX; the company had exercised the basic principles outlined in the legislation for some time. Performance Metrics & Executive Compensation General Electric has functioned for decades under the philosophy of hiring, motivating, rewarding and retaining its executive leaders through compensation. The company has maintained an executive compensation model that includes salary, bonuses and stock options as the vehicle to achieve this goal for decades. While the total compensation packages at the highest levels of leadership are not as lucrative as they once were – General Electric has adapted its compensation policies in order to remain competitive and compliant in an evolving business environment. 2000 – Jack Welch In the year 2000, Jack Welch stood without peer in the world of American business. Recently named â€Å"Manager of the Century† by Fortune Magazine, (Colvin, 1999) General Electric increased revenues to nearly $130 billion. During this year Mr. Welch earned $16,700,000 in salary and bonus. In addition, Mr. Welch was granted 3,000,000 stock options which became exercisable upon retirement as well as 850,000 restricted stock options. The later options were granted by the board in appreciation of 20 years of service to GE. Furthermore, Mr. Welch was granted a split-dollar life insurance policy contingent upon execution of a personal consulting contract (up to 30 days annually) at the discretion of the acting CEO. Final terms of the consulting contract and retirement package are not listed, but the value is estimated to be north of $420 million. 2003 – Jeffrey Immelt Jeffrey Immelt emerged as the new CEO of General Electric following a highly publicized succession process in 2001. Perhaps due to his relatively short tenure to this point, but more likely due to the passage of the Sarbanes-Oxley Act; overall executive compensation was revised at General Electric in 2003. In addition to a more responsible base salary, executive bonuses and stock options were much more clearly outlined and defined in the 2003 proxy statement. While the Board Compensation Committee does state: â€Å"We  rely upon judgement and not rigid guidelines or formulas or short-term changes in our stock price in determining the amount and mix of compensation elements for each executive officer† official documents include an element of specificity not previously available to investors. Mr. Immelt was paid a $3,000,000 base salary and bonuses totaling $4,325,000 – a 10% increase from the previous year. In addition, Mr. Immelt was granted 250,000 performance share units in lieu of stock options. This is the most significant change related to executive compensation policies that occurred at General Electric post SOX. From the 2003 GE Proxy Statement: â€Å"These performance share units are intended to recognize the unique position of the GE CEO. The committee believes that the CEO of GE needs no retention compensation, and that his equity compensation should be focused entirely on performance and alignment with investors.† This change in policy effectively linked 50% of the CEO’s equity compensation directly to the company’s cash generation performance; the remaining 50% would only convert to shares if specific shareholder return metrics were met. In short; the better the performance of the firm – the better the compensation for Mr. Immelt. Finally, select executives at GE (including Mr. Immelt) were granted 3-year performance incentive awards. These award s would be paid only upon achievement of unlisted specified goals related to: earnings per share, revenue growth, return on total capital and cumulative cash generated. 2013 – Jeffrey Immelt Today, the evolution of executive compensation continues at General Electric. The 2013 Proxy Report provides a thorough and defined description of all elements and metrics used to determine final executive compensation. Following essentially the same compensation model initiated in 2003, Jeffrey Immelt realized total compensation (including projected pension value) of $20,592,769. Leadership, Ethics & Firm Values General Electric is a perfect case study in the evolution of an American business. Formed in 1892 primarily as an electric company, the firm has grown into a global dynamo. Today the company operates in several areas including finance, appliances and power systems. This type of evolution and growth does not happen by accident, it is the result of visionary leadership  Ã¢â‚¬â€œ a quality that has existed within GE for a century. Founded by one of this country’s greatest innovators, General Electric has embodied the vision of Thomas Edison since its inception. The company has dabbled, innovated and revolutionized a number of industries throughout its existence. This truth is a testament to the men that have lead the organization throughout the years. (see past leaders – attached) More recently, present-day General Electric has been molded primarily by two individuals who utilized their personal skill to direct the company through a challenging time. Jack Welch (1980 â⠂¬â€œ 2001) Jack Welch joined GE in 1960 as a junior chemical engineer. Early in his tenure, Welch considered leaving the organization citing a frustration with an overwhelming bureaucracy that existed within the firm. Welch was convinced to stay and worked his way up the ranks becoming Chairman and CEO in 1980. Welch became one of the most successful executives in the history of the United States during his tenure, growing the value of the company by 4000%. He accomplished this by imposing leadership efficiency practices throughout the company. Welch promoted strong businesses by limiting bureaucratic inefficiencies, trimming inventory and closing factories. His governing philosophy at GE was that a company should either be number 1 or number 2 in a particular industry or it should get out of that business. Welch adopted Motorola’s Six Sigma quality program in 1995 to further streamline operating efficiencies. In addition, Welch instituted a rigorous method of assessing organizational performance and leadership termed Session C. The goal of this program is to provide feedback and identify talent to managers within the organization. During Jack Welch’s tenure, General Electric became wildly profitable and became recognized as the preeminent organization in terms of operating efficiency and profitability. Mr. Welch’s methods, while successful were generally autocratic and focused on two specific issues: profitability and legal compliance. Jeffrey Immelt (2001 – present) Jeff Immelt was groomed to lead General Electric from a young age. Immelt’s father worked for GE in the Aircraft Engines Division. After receiving his A.B. in Applied Mathematics from Dartmouth College, Immelt earned an M.B.A.  from Harvard. Jeffrey Immelt formally joined General Electric in 1982 and began his professional ascent. Following a public and high-profile transition; Immelt was challenged with the difficult task of replacing legendary GE CEO Jack Welch in 2001. Immelt was immediately dealt two unparalleled challenges upon assuming the position – the terrorist attacks of September 11, 2001 and to a lesser extent the public backlash attached to the prominent accounting scandals that occurred at the turn of the century. Immelt began to create an impact immediately, adopting a more people-oriented approach to management than the efficiency-minded approach that had governed GE for the preceding two decades. Immelt launched a series of effectiveness-oriented meas ures that encouraged innovation and risk-taking. Immelt also began to look to developing markets in search of opportunity. Finally, Jeffrey Immelt moved GE’s operational focus to areas not previously considered: concentration on long-term growth over short-term gains, infrastructure development with an emphasis on green energy and increased marketing efforts focused on social responsibility. The contrast between these two vastly different yet extremely effective leaders provides an interesting snapshot of the effects of the evolution in American business following the corporate scandals of the late 1990’s and early 2000’s. While General Electric was not directly attached to a major scandal during that era, the timing of GE’s leadership transition was fortuitous. While there is certainly room for a chicken vs. egg debate regarding the change in managerial philosophy at GE; the change in leadership at the top of the company definitely provided an opportunity to shift course in the post-SOX business world. Corporate Sustainability & Social Responsibility Similar to many traditional American manufacturing powers, General Electric did not exercise sustainable business practices for the bulk of its existence. This, of course, was not uncommon in American industry. However, at the turn of the century, the first mention of social responsibility appeared in a GE company document. â€Å"Integrity: the Spirit and the Letter of Our Commitment† was a comprehensive document outlining the company’s policies related to privacy, supplier relationships, working with governments, environment, health and safety. The initial draft of this document was essentially a rule book seeking to achieve legal compliance in  the various nations where General Electric conducted business. The following year, (2001) two share owner proposals sought to amend and bolster the â€Å"Integrity† statement – Share Owner Proposal No. 2; which attempted to â€Å"improve the quality of life for employees and their communities† by allowing collective bargaining, eliminating discrimination & intimidation and promoting free labor, as well as Share Owner Proposal No. 3 which called for the Board to discontinue and renounce a PR campaign initiated by the General Electric Company that downplayed the dangerous effects of PCB’s dumped in the Hudson river by the company. The GE Board of Directors voted against both proposals. The reality of the Board’s actions demonstrates that the early years of General Electric’s sustainability and social responsibility programs were based in superficial statements only. In 2003, General Electric launched an interactive, electronic version of its Annual Report. This new medium included a section devoted to the â€Å"Citizenship† initiatives active within the company. The two paragraph overview acknowledged the need for a modern corporation to practice environmental compliance, leadership in corporate governance and high ethical standards. The document lists various social programs supported by the organization and its employees including nebulous philanthropic and volunteer efforts. While a step in the right direction, an outside observer may still question the level of commitment GE expressed to its sustainable programming. The strategy did not contain the measurable, quantifiable objectives r equired to effectively execute a large-scale sustainability program. (Epstein, 2003) Today, General Electric has created and maintains a robust, independent website dedicated to corporate sustainability. www.gesustainability.com outlines GE’s commitment to long-term sustainable business practices including: internal processes, (people, governance, compliance and health & safety) sustainability initiatives (health, energy & climate, water and natural resources) and progress (public policy, grassroots activism, lobbying, human rights and research). Most importantly, the site lists and outlines performance metrics used to govern their processes including the GRI G3 Sustainability Reporting Guidelines. The end result of the GE sustainability program has been a complete remake of the GE brand identity. Today; General Electric is recognized as a leader in corporate and social responsibility, receiving accolades from: The Human  Rights Campaign, (Corporate Equality) CR Magazine, (100 Best Corporate Citizens) Dow Jones Sustainability Index (Sustainable Business Prac tices) and the US President’s Volunteer Service Award amongst many others. In summary, General Electric is not a company without fault. Issues with comingling of responsibility at the top, lack of diversity in executives, and a series of accounting scandals in the early 2000’s are a few of the complications that the organization has witnessed. However; in terms of the ability of a large corporation to evolve in order to remain relevant throughout time, GE has fared better than most. Resources – Catts, T. (2013, April 24). GE investors reject 15-year term limits for board members. Bloomberg. Retrieved from www.bloomberg.com/news /2013-04-24/ge-investors-reject-15-year-term-limits-for-board-members.html – Colvin, G (1999, November 22). The ultimate manager in time of hidebound, formulaic thinking, General Electric’s Jack Welch gave power to the worker and the shareholder. He built one hell of a company in the process. Fortune. Retrieved from www.archive.fortune.com/magazines/fortune/fortune_archive/1999/11/22/269126/index.htm – Epstein, M. & Roy, M. (2003). Improving sustainability performance: specifying, implementing and measuring key principals. Journal of General Management. Vol.29, No. 1 2003. – Sidime, A. (2007, February 18). The good and bad of Sarbanes-oxley. San Antonio Express-News. Retrieved from http://search.proquest.com/docview/262392306?accountid=12381 – Rachel, E.S. (2002, October 29). GE adds 2 outside directors in move to boost governance. Wall Street Journal. Retrieved from http://search.proquest.com/docview/398860308?accountid=12381 – Watson, I. (2002, June 30). GE caught up in US accounting scandal. Knight Ridder Tribune Business News. Retrieved from http://search.proquest.com/docview/462671234?accountid=12381 – General Electric Corporation. Wikipedia. Retrieved from www.en.wikipedia.org/wiki/general_electric – Jack Welch. Wikipedia. Retrieved from www.en.wikipedia.org/wiki/jack_welch – Jeffrey Immelt. Wikipedia. Retrieved from www.en.wikipedia.org/wiki/jeffrey_immelt – General Electric Proxy Statements. (2000,2003,2013). SEC. Retrieved from www.sec.gov/archives/edgar/data – The Spirit & The Letter (.pdf). GE.com. Retrieved from www.ge.com/files/usa/commitment – www.soxlaw.com

Disappearing Colorsâ€Easy Bleach Project for Kids

Disappearing Colors- Easy Bleach Project for Kids Let kids see for themselves how bleach works with this easy disappearing colors experiment. Disappearing Colors Project Materials food coloringwaterhousehold bleachdropperglass or jar Procedure Fill a glass or jar about halfway full with water.Add a few drops of food coloring. Stir the liquid to make it colored.Add drops of bleach until the color starts to disappear. You can stir the contents of the glass if you like. Continue until the color is gone.Add a few drops of another color. What happens? The color doesnt spread out the same way as it did when coloring was added to pure water. It forms swirls, which may disappear if there is enough bleach in the water. Why It Works Bleach contains sodium hypochlorite, which is an oxidizer. It oxidizes or reacts with the chromophore or color molecules in food coloring. Although the pigment molecule remains, its shape changes so that it cant absorb/reflect light the same way, so it loses its color as a result of the chemical reaction. Safety Information Be careful to avoid spilling bleach on skin or clothes. Rinse any spills immediately with lots of water.Make sure young experimenters dont drink bleach or the contents of the glass. Diluted bleach is not particularly dangerous, but not good for you either!When you are done with the project, its safe to dump the contents of the glass down the drain and to re-use the washed glass for food.