Outsourcing and the US Economy Essay - 2349 Words

Outsourcing – Dont Get Bangalored? As the world has gotten â€Å"smaller† in terms of trade, outsourcing has become a hot topic in much political and economic debate in the United States. An Associated Press-Ipsos poll in May 2004, found that 69 per cent of Americans thought that outsourcing hurts the US economy while only 17 per cent thought it helped . President Bush’s chief economic advisor Greg Mankiw has stated â€Å"outsourcing†¦is something that we should realize is probably a plus for the economy in the long run† . While John Kerry has emphasized, that he is going to stop the outsourcing of American job . With the presidential election coming up, and the candidates giving mixed signals about the effects of outsourcing, it could turn†¦show more content†¦Finally, I will also introduce the theory of immiserizing growth. A glance at staticstics Is the public concern over outsourcing valid? The most cited official projection outsourcing is by Forrester. It is estimated that outsourced US jobs will grow from about 400,000 in 2004 to 3.3 million (recenty revised to 3.4 million) by 2015 which seems quite significant. But on a yearly basis this accounts for about 250,000 jobs but in perspective the number is small compared to the total US employment of 137 million. It actually only constituate less than 2 per cent of 15 million Americans who lose their jobs each year . Goldman Sachs estimates that offshoring has accounted for 500,000 million lay offs in the past three years. A study by Ashok Deo Bardhan and Cynthia A. Kroll at the University of California, Berkeley indicates that up to 14 million Americans now work in occupations that are at risk of being outsourced . Forrester also estimated that 300,000 US jobs have been outsourced. While the Commerce Department 400,000 new jobs, which leaves a net result of 100,000 new US jobs . In addition, an Economic Policy Institute in New York announced that 144,000 new jobs were created in August 2004 . Summarizing the numbers, it seems that outsourcing will have a positive effect on the overall US economy.Show MoreRelatedIs Outsourcing Bad Or Good? The Us Economy?898 Words   |  4 PagesA) Why is outsourcing so bad or good to the US economy? In general, the outsourcing is hiring the foreign workers/company to do a particular task, as opposed to hiring domestic workers/company. Besides the outsourcing, the international purchase is an essential activity of companies. In the trend of a booming global economy, a company only focuses on its core value and hire suppliers to supply the necessary product and service. The relationship between companies are complicated and interdependentRead More Outsourcing Essay1680 Words   |  7 PagesOutsourcing Outsourcing has become a very popular issue, and it has reached an all-time climax. Firms are starting to do this a lot more than than in the previous decade. What is outsourcing? Outsourcing is defined as â€Å"The procuring of services or products, such as the parts used in manufacturing a motor vehicle, from an outside supplier or manufacturer in order to cut costs.† And it has become a big issue in our country. There are thousands of articles and books written on it, and you can attendRead MoreOutsourcing : Effect Of Outsourcing1631 Words   |  7 Pages OUTSOURCING : EFFECTS OF OUTSOURCING IN AMERICA DHANASHREE AROTE 83360 INDEX Serial No. Topic Page No. 1. Introduction 3 2. Benefits of Outsourcing 4. 3. Negative Effects 5 4. Managing Outsourcing 7 5. 6 Key Trends 8 6. Conclusion 8 7. References 9 INTRODUCTION In today’s global business competitive environment, business organizations must innovate and adapt new strategies to sustain revenue generation, value while remaining competitive. Organizations have embraced outsourcingRead More An American Economy Essay934 Words   |  4 PagesAn American Economy Globalization is a very pressing issue in the American culture today. Within any economy, globalization will cause many problems while at the same time solving many others. This is true because there are many factors involved with globalization, one of the most important being job outsourcing. While at first glance and from what the media reports, job outsourcing is definitely not healthy for the economy. However on upon closer inspection, the reverse may be true. Job outsourcingRead MoreWhat Major Trends Do You See Affecting The Roles Of Purchasing Managers During The Next Decade?1447 Words   |  6 Pages As emerging markets assume a greater role in the global economy, the traditional demand and supply poles that have shaped global commerce over the last 50 years will change dramatically. More and more global company will have their purchasing managers based in China, India or Brazil. The procurement teams need to start developing expertise in local emerging market sourcing in Chi na, Brazil, and India, as well as other developing economies. Sustainability is an essential strategy to business, especiallyRead MoreAmeric Top Dog Or Underdog?1556 Words   |  7 Pagesauthors Barbara Ehrenreich and Fareed Zakaria. This is about to be the most fascinating adventure of your life. Outsourcing, international relations, and foreign policy all combined into one paper. Barbara Ehrenreich’s article â€Å"Your Local News--Dateline Delhi† explains the economic pressures that America is facing such as outsourcing. Fareed Zakaria takes on the global effects of outsourcing in his article â€Å"The Rise of the Rest† in which he focuses on the shift of power to other nations while AmericaRead MoreThe Upsides and Downsides of Outsourcing914 Words   |  4 Pages Presentation As time passes by, outsourcing has started to develop in all significant economies of the world. When we begin discussing the upsides and downsides that are connected with this process, its critical to comprehend the progress of this case that will help us break down the methodology from numerous points of view. The procedure of outsourcing is characterized by utilizing the ability and probabilities of an outsider in an assention premise. So hopefully you know, It was throughoutRead MoreHow is outsourcing affecting American Citizens, its not only taking jobs away from us Americans1400 Words   |  6 PagesHow is outsourcing affecting American Citizens, its not only taking jobs away from us Americans but is also hurting our US economy. Outsourcing is when a company such as Apple sends jobs overseas to a country such as China and has factory workers there assemble the product for a much lower price. Yes this lowers the price of products but we have to take into account how many jobs this it taking from American citizens. Outsourcing jobs does lower the price of products but jobs should stay here inRead MoreWhy Outsourcing Hurts United States Economy? Essay1532 Words   |  7 Pagesoffshore. They include chip design engineering, basic research— even financial analysis. Can America lose these jobs and still prosper (R. Hira, 2008, p-1)?† The reaction of this news was swift and divided. Definitely large corporations that will be outsourcing will make huge profits in the long run but â€Å"what about the American citizens?† Jennifer, an American citizen, working for a big recruiter company, was sitting in her cubicle sorting out the resumes and suddenly manager calls in for meeting. SheRead MoreIs Outsourcing A Business Practice?983 Words   |  4 PagesIt should be illegal for US-based businesses to outsource their customer service to foreign countries because it weakens the economy and the job market in the US. Offshore outsourcing is a business practice or process that means to export information technology (IT) and manufacturing jobs to other developed countries outside of the US for the sole purpose of cutting costs, such as labor costs and tax savings. By doing so, the US economy is negatively affected, unemployment rises, and funds through

Essay on Sonnet 130 and Passionate Shepherd To His Love

Sonnet 130 and Passionate Shepherd To His Love nbsp; In William Shakespeares Sonnet 130 and Christopher Marlowes The Passionate Shepherd To His Love, the themes of unconditional love, opulent treasures, and vivid imagery are all conveyed throughout the poems but through different point of views. nbsp; The theme of unconditional love is expressed through the two poems. The poet proclaims his affection for her by telling his love that he will give her anything in the world if she would just be with him. And if these pleasures may thee move, come live with me, and be my love. His words show that he is willing to do anything and everything for her by giving her a gown made of the finest wool or even coral clasps and†¦show more content†¦The poet of The Passionate Shepherd To His Love uses tangible gifts such as a gown made of the finest wool or far lined slippers with buckles of the purest gold. And I will make thee beds of roses and a thousand fragrant posies. This shows that the poet is trying to use riches to persuade his love to come live with me (him) by showing her that he will give her all these opulent treasures if she would just fulfill his one wish. However, in Shakespeares poem, the poet expresses the same kind of love but instead uses characteristics and physical attributes of his love rather than tangible materialistic things like the poet in Marlowes poem did. The persona in Sonnet 130 uses attributes of his beloved to tell her that she is rare and at the same time he loves her. After listing all her physical attributes, he writes I think my love is rare as any she belied with false compare. The speaker in Sonnet 130 doesnt have to use substantial objects to show his love that he really loves her; he writ es on the reasons why he loves her instead of writing about giving her all these treasures that he knows that he cannot give as the persona in Marlowes poem did. Even though the two poems are similar in that they discuss unconditional love, they are expressed with different conditions: one uses opulent treasures while the other uses physical attributes.Show MoreRelatedMetz Film Language a Semiotics of the Cinema PDF100902 Words   |  316 Pagestranslated into English or only approximately translated, few semantic and stylistic improvements are needed and the translation does justice to Metz s text. In some instances, usage did not adopt Michael Taylor s solution. The most glaring example of his innovative translation is the word significate now usually translated by signified (signifià © in French)—which is used throughout the text. Langue and parole have increasingly been translated by language and speech, although this is not an ideal

Why Smart Phones Should Be Banned in Class Free Essays

The cons of cell phones in school are numerous. The source of much public debate, the issue of whether to allow children and teens to bring their mobile phones to school has been discussed ad nauseam clear across the country, but even now, there is no clear-cut answer, solution or conclusion. Below we will discuss the many reasons why it might not be a good idea to allow the use of cell phones in the classroom. We will write a custom essay sample on Why Smart Phones Should Be Banned in Class or any similar topic only for you Order Now There are many reasons why cell phones should not be allowed in the classroom. Distractions When a child is in school, his or her purpose there is to learn, whether it be about Columbus sailing the ocean blue or about how electricity works. Young people are more easily distracted than their elders because they tend to have shorter attention spans. If they become bored with the class material, it doesn’t take much for them to take out a Motorola Razar to play some cell phone games. How can you expect a teen to absorb all that knowledge if they’re not even paying attention. Cheating Obviously, kids won’t be able to take out their cell phones and talk to one another in the classroom during an exam, but the concept of â€Å"passing notes† has stepped into the age of technology, thanks to the advent of text messages. These can be sent quite discretely while in the classroom. Taking it one step further, a student can excuse himself to go to the washroom, only to use that time to send text messages and leave voice mails. You also have to bear in mind that cell phones are advancing and improving faster than ever. Certain smart phones can surf the Web (looking for test answers), others have advanced calculators, and depending on the software, it may even be able to run custom applications. The possibilities for cheating and copying are literally limitless, and thus another con of cell phones in school. How to cite Why Smart Phones Should Be Banned in Class, Papers

Framework For Thinking Ethically Scenario - MyAssignmenthelp.com

Questions: PART A Advise Marcos whether he may have a claim under the law of negligence. PART B Using the Framework for Thinking Ethically provided in Week 1 of the Lecture materials, consider Alices actions in this scenario and answer the following questions: Which ethical approach did Alice use in this scenario? Why? What factors or tensions must be balanced in responding to this scenario? Using the Framework for thinking ethically document provided in Week 1 of the Lecture Materials, identify and describe the ethical approach or approaches you would have utilised if you were in Alices position. Answers: Answer A Introduction: The given case is based on negligence and certain part of the contract law. Negligence can be defined as a part of the Tort law, which deals with the civil wrongs. It gives an opportunity to plaintiff to claim for compensation from the wrongdoer for his or her carelessness. When the acts of negligence caused damage to others or resulted in causing injury to the plaintiff, it will be come under the purview of negligence and the legal action taken against such conduct. Three legal elements should be present in a tort of negligence. These include duty of care, breach of duty of care and the damage caused to the plaintiff due to such breach of duty. The Civil Liability Act 2003 (Qld) was enacted to deal with claims under the negligence. In order to establish the three essential elements the plaintiff must prove the following essential elements. Duty of care- the defendant owed duty of care towards the plaintiff at the time the negligent act was conducted. As was observed in Donoghue v Stevenson [1932] AC 562, not every conduct shall amount to negligence. Therefore, the defendant must have a legal duty that is recognisable at the time of alleged carelessness of the defendant. Breach of Duty of Care- the defendant has failed to exercise such care that has amounted to breach of duty of care. The defendant shall be liable for careless conduct that is inconsistent with a legally expressed standard. As was observed in Wyong Shire Council v Shirt [1980] 146 CLR 40, the breach of duty of care should be such that any reasonable person would consider such act of the defendant to be a breach of duty car. The test for breach of the duty of care is stipulated under section 9(1) of the Civil Liability Act. It was stated that a person is not negligent while taking precautions against a risk of harm unless: There was at least probability of harm making the significant; The risk was foreseeable by the defendant as any prudent person would have foreseen such risk; Under the circumstances, any prudent person would have taken necessary precautions; According to section 9(2) CLA, a reasonable person should ensure the standard of care that is expected from the defendant. The probability that the harm could have taken place, if care had not been taken as observed under Bolton v Stone [1951] AC 850; The likelihood of severity of the harm if it had occurred under Rogers v Whitaker [1992] HCA 58; The burden of taking precautions to avert the risk of harm as observed under Woods v Multi-Sport Holdings [2002] 208CLR 460; The social utility of the activities that has resulted in harm as was held under Bolton v Stine [1951]AC 850; Damage caused to plaintiff- the defendants breach of duty has resulted in injuries caused to the plaintiff and that the damage was a direct result of the breach of duty and was not remote. As stipulated under section 11 (1) (a) of the CLA, the plaintiff must establish that teh carelessness of defendant was the reason for the damage caused to him as was held in Chappell v Hart [1998] 185 CLR 232. The present case study is depending on the negligence and it has been discussed in Issue-Rules-Application-Conclusion form. Issue: Considering the case study, the main issue come up is whether Alice could get an opportunity to claim damage under the negligent law or not. Rules: Negligent law is a part of the Tort law. It has been stated under the Tort law that every person is required to act prudently and they are bound by certain reciprocal duties. It is a common provision under the Tort law that if any person has failed to perform the reciprocal acts, he will be held liable for the act of negligence. According to Martin, the law required every person to act reasonably and in case the careless act of a person harms another by physically or mentally, he will be charged under negligence. Duty of care: As per the first issue, it can be said that each person has certain duty to take proper care to others and the act will said to be a negligent act if the duties prescribed have not been followed or performed properly. The most remarkable case on negligent Act is Donoghue v Stevenson (1934). In this case, the victim had bought a beer from a shop and after consuming a part, a decomposed body of a snail was found in the bottle. The manufacturer of the beer was being charged under the negligent act as according to Lord Atkin, the manufacturer owes certain duties to every consumer and in this case, he has been failed to perform his duties properly. This case is remarkable as the principle elements of negligent act has been mentioned in this case. It has been stated that following elements are required to be fulfilled by the defendant if charged under negligent act: Every person should have certain duties to each other and the nature of the duties are legal; Every person must act prudently and should not infringe any of the provisions of law; It is to be proved that the act of the defendant has caused great damage to the victim; The damage must not foreseeable in nature and should not too remote. According to the case of Donoghues case, it is the duty of every person to take proper care to the customers. The customers are obliged to get good quality product from the manufacturer or the service provider and they can believe on the service provider that they will protect their person and property. In case the service provider has failed to perform their duty, they will be liable under the act of negligence. Further, it was observed in Grant v Australian Knitting Mills Ltd (1935) AC 85 that the manufacturer should have to complete all the necessary research on their products and should have to be sure about the effectiveness of the products. In this case, a person has sustained certain skin allergies after wearing dress made by the defendant. It has been held by the court that there is reasonable scope for the victim to claim damage from the manufacturer as he had failed to maintain the standard duty of care. Further, there should be reasonable foreseeability present regarding t he damage by the defendant. The process of duty of care is extended in case of neighbourhood principle where the proximity of relationship is necessary in case of negligence act. The scope of the negligent act has been widened and the relationship in between the plaintiff and the defendant is also taking an important role in this cases. It has been observed in the case of Bourhill v Young 1943 AC 92 that a pregnant lady was injured by an accident. It has been observed that the nature of the accident was indirect and the defendant had no intention to cause any harm to the lady. Further, there was no proximate relationship present in between the plaintiff and the defendant. Therefore, the court held that the defendant was not liable under the negligent act. In Anns v Merton London Borough Council, the court was pleased to pass that proximity of the relation should be taken into care and is mandatory in nature. In Sutherland Shire Council v Heyman (1985) HC, the definition of the proximity has been prescribed and the relationship in between the manufacturer and consumer, employee and employer, driver and master are treated as the proximate relation. Breach of duty: It is obvious to state that if any person has failed to meet the standard duty of care, he will be liable for breach of duty too. In McHale v Watson (1966) 115 CLR 199, it has been observed that the act of negligence is not limited within the age; it is the responsibility of every person to act prudently. In this case, two children were playing and during the game, one had thrown a bow to other and that child lost his eye. It has been held by the court that irrespective of the age, it is the duty of the boy to take possible care to each other. However, he had failed to do so and therefore, is liable under the act of negligence and the victim has every right to claim damage from the defendant. It has been further observed by the court that the negligent breach of duty must caused serious damage to the victim. The damage can be the personal or property related damage. There are several cases on the medical negligence has been filed before the court. It has been observed that the patien t has to suffer lot of dilemma due to the negligent treatment by the doctors or the therapists. Rogers v Whitaker [1992] HCA 58 is treated as the most reliable matter in this case. In this case, the patient had certain ocular problem and went to get advice from the doctor who had suggested operating the eye. After the operation, the vision of the plaintiff was lost and according to court, it is the legal and ethical duty of the doctor to take all the possible care of their patient. However, in this case, it has been observed that the alleged doctor had made a breach to his duties and therefore, held liable under the act of negligence. In Woods v Multi-Sport Holdings (2002) 208 CLR 460, the sport authority had failed to warn the participants about the risks related to the eye injury and did not provide helmet to the participants. It has been observed that due to the carelessness of the defendant, one of the participants could not take proper action to avoid accident and lost his eye. This makes a proper ground for the act of negligence. The case of Waverley Council v Ferreira [2005] NSWCA 418 is considered as one of the most unfortunate cases on negligence where a child had lost his life due to the negligence of the building authority. In Wyong Shire Council v Shirt (1980) 146 CLR 40, it has been held that if the damage is foreseeable in nature and the defendant had failed to act like a prudent man, he will be held liable for breach of duty of care. The standard of a reasonable person is based on their skills, age and common practice. Damage: Damage is one of the most obvious part in case of negligence. It has been stated under the law that the victim must develop certain physical or property related damage from the wrongful acts of the defendant. It has also been stated that the if harm can be caused due to the negligent act of the doctor, that will be treated as an act of negligence. It has been observed in Chappel v Hart [1998] 1 HCA 55 that a surgeon had failed to perform his duties properly and the patient had to face continental damage due to this. It has been held that the surgeon is liable under negligence. In Donoghues case, it has been noticed that the negligent act of the defendant has caused serious physical and mental damage to the plaintiff and all the damage were foreseeable in nature. Foreseeable nature of the damage is a necessary thing regarding the negligent case as decided in the case of Overseas Tank ship (UK) Ltd V Morts Dock Engineering Co (The Wagon Mound) [1961] AC 388. Defense: Under the negligence law, certain defenses have been provided to the defendant so that they can defend themselves in certain circumstances. The foremost defense in case of negligence is contributory negligence and voluntary assumption of risk. In any case, where the plaintiff is partially liable for the accident cause to him will be barred by law to claim full compensation from the defendant. For instance, if a man riding his motor cycle in high speed and could not see a pole kept by another in the middle portion of the road, could not able to claim full compensation as he was partly liable for the damage. In Australia, Civil Liability Act 2003 is dealing with the provision of negligence. According to section 23 of the Act, plaintiff must show sufficient ground that he has done his part of duty in proper way. Liability of the defendant is not the only parameter for the act of negligence. One of the most appropriate case on contributory negligence is the matter of Butterfield v Forres ter, where it has been observed that a person had negligently kept certain pole in the road and another person was collided with the pole as he could not able to control his high speed bike. It was held by the court that the victim was partially liable for the accident and could not ask for total damage from the defendant. On the other hand, it has been observed in the case of March v Stramare Pty Ltd (1991) 171 CLR 506 where a car was parked in the central portion of a road and the victim was rammed with the car as he was drunk. It has been held by the court that parking a car in the middle portion of the road is an offence and concurrently, riding a car after consuming alcohol is also a crime. Hence, it has been observed that both the plaintiff and the defendant are liable for the damage and therefore, both will be come under the purview of negligence. The second defence is voluntary assumption of risk. Under the law, it has been stated that if a person has reasonable ground to assume that he can sustain injury due to certain process and still urge to continue the process, he could not claim full compensation from the defendant after meeting with an accident. For example, if a person knew that damage may be caused due to open motor cycle race and still wants to continue the race, he could not able to claim any damage after sustaining injury from the race. Application: The given case is belonging to Alice and Marcos. Alice is the entrepreneur and Marcos is the customer. It has been noticed that Alice had started a business on whale watching and to attract customer, she had provided certain offer to them. Marcos along with his wife came across to the advertisement and willing to take a ride and confirmed their booking on specific day. Simultaneously, Alice had allowed many people in her boat to earn extra gain. Further it has been observed that the condition of the boat was very poor and she had failed to cover the entire floor of the boat with mat and apply oil paint on the rest of the uncovered boat. On the fateful day, Marcos and his wife found that special kind of shoe is required for the ride and Marcos did not have the same. However, he till continued his journey and aboard in the boat. However, as the boat was too crowdie, they stand in the corner of the boat. It was a rainy day and when the water mixed up with the oil paint, the floor become slippery and Marcos had sustained injury due to skit. The response of Alice towards Marcos was below expectation and it has been observed that besides taking him to the hospital, she had continued the journey and Marcos had to sustain certain severe body injury due to this. Therefore, it has been proved that the acts of Alice had attracted all the essential requirements of the negligence act. Conclusion: Marcos has sufficient ground to claim damage from Alice for her negligent act. Answer B (a) Ethics are the portion of activity that differentiates in between a right and wrong work. There are several divisions observed under the ethical behaviour such as utilitarian approach, right and wrong approach, virtue approach, and common good approach (DeMott 2016). In this case, the negligent act of Alice has attracted the approach of right and wrong theory. In the words of the Ferrell and Fraedrich, the act of the person reflects his character. It is required that every person should have to choose the right thing and need to be cautious during the time of making decision. According to Shapiro, the level of rationality has been proved by way of decision policy and no person has right to hurt the dignity of others. However, it has been observed that the acts of Alice have hurt the dignity of Marcos and she had not opted for the right approach during the accident of Marcos. Therefore, the acts of Alice are not based on rationality. (b) As decided in McHale v Watson (1966) 115 CLR 199, it can be stated that an individual has to take prudent decision in all stages irrespective of the age and situation. However, from the given case study, certain factors are cropped up that are required to be balanced. The factors are: The decision should not resulted in the harm of any individual; The decision should be the appropriate one; The decision must be efficient in nature; All the alternative options are required to be adjudged (University 2018). Equal nature of the decision should be engraved in the decision; Impacts of the decision on the community. (c) It is obvious to state that Alice had not proved rational nature of her through the decision. At the time of accident, she must rush to the hospital. However, she was thinking about her business and instead of rush to the hospital, she continued the journey and Marcos had to face lot of damages for that. Therefore, it can be stated that Alice had failed to perform standard duty of care and had attracted the provision of the rights and wrong approach. Additionally, Alice had failed to act like a prudent man and because of her negligent act, Marcos had to pay great injury. Further, the oil-based painting on the floor has made it slippery and caused Marcos injured. Further, Alice should stop Marcos for the ride as he did not wear proper shoe for the ride. Therefore, it can be held that the accident held due to the carelessness of Alice. Alice was failed to make a good business plan for her business. Reference: Anns v Merton London Borough Council [1978] AC 728 Bolton v Stone [1951] AC 850 Bourhill v Young 1943 AC 92 Butterfield v Forrester (1809) 103 E.R. 926 Chappell v Hart [1998] 185 CLR 232 Donoghue v Stevenson [1932] AC 562 Grant v Australian Knitting Mills Ltd (1935) AC 85 Legislation.qld.gov.au.(2018).https://www.legislation.qld.gov.au/view/whole/pdf/inforce/current/act-2003-016 [Accessed 5 Feb. 2018]. March v Stramare Pty Ltd (1991) 171 CLR 506 McHale v Watson (1966) 115 CLR 199 Overseas Tank ship (UK) Ltd V Morts Dock Engineering Co (The Wagon Mound) [1961] AC 388 Rogers v Whitaker [1992] HCA 58 Sutherland Shire Council v Heyman (1985) HC Waverley Council v Ferreira [2005] NSWCA 418 Woods v Multi-Sport Holdings [2002] 208CLR 460 Wyong Shire Council v Shirt [1980] 146 CLR 40

Successes and Failures of the Ford Motor Company free essay sample

A paper which assesses the reasons for the successes and failures of the Ford Motor Company, according to Collins and Porras text 12 Myths of Successful Businesses in their book on the subject. According to the book Built To Last: Successful Habits of Visionary Companies by James Collins and Jerry Porras, the Ford Motor Company is one of the paradigmatic examples of successful enterprise in the American automobile industry. Like the image it has projected of its automobiles, the firm itself is a model of durability and consistency. This paper examines the reasons for the successes and some of the failures of the company according to the principles outlined in Collins and Porras text, what they call their 12 Myths of Successful Businesses, that are outlined and exploded over the course of the books analysis. Ford Motors company has produced products that have changed not only the automobile industry but American corporate and popular culture as a whole, including such models as the Model T of the first half of the 20th century and later the Mustang. We will write a custom essay sample on Successes and Failures of the Ford Motor Company or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page (Collins and Porras pp. 2-4) Innovate, Motivate, Lead, proclaims the corporate slogan of Ford upon its 100th anniversary as a company. The company pioneered the assembly line system of automobile manufacturing. In this system, the parts and vehicles themselves moved rather the individuals doing the manufacturing. This system enabled the company to manufacture the first automobile, known as the Model T, which was affordable and accessible on a mass scale to ordinary American families.

Samuel Johnsons Essay on the Decay of Friendship

Samuel Johnsons Essay on the Decay of Friendship For more than three years British author, poet, and lexicographer Samuel Johnson almost single-handedly wrote and edited a biweekly journal, The Rambler. After completing his master work, A Dictionary of the English Language, in 1755, he returned to journalism by contributing essays and reviews to the Literary Magazine and The Idler, where the following essay first appeared. Of the innumerable causes of decayed or destroyed friendships, Johnson examines five in particular. The Decay of Friendship from The Idler, Number 23, September 23, 1758 by Samuel Johnson (1709-1784) Life has no pleasure higher or nobler than that of friendship. It is painful to consider that this sublime enjoyment may be impaired or destroyed by innumerable causes, and that there is no human possession of which the duration is less certain. Many have talked in very exalted language, of the perpetuity of friendship, of invincible constancy, and unalienable kindness; and some examples have been seen of men who have continued faithful to their earliest choice, and whose affection has predominated over changes of fortune, and contrariety of opinion. But these instances are memorable, because they are rare. The friendship which is to be practiced or expected by common mortals, must take its rise from mutual pleasure, and must end when the power ceases of delighting each other. Many accidents therefore may happen by which the ardor of kindness will be abated, without criminal baseness or contemptible inconstancy on either part. To give pleasure is not always in our power; and little does he know himself who believes that he can be always able to receive it. Those who would gladly pass their days together may be separated by the different course of their affairs; and friendship, like love, is destroyed by long absence, though it may be increased by short intermissions. What we have missed long enough to want it, we value more when it is regained; but that which has been lost till it is forgotten, will be found at last with little gladness, and with still less if a substitute has supplied the place. A man deprived of the companion to whom he used to open his bosom, and with whom he shared the hours of leisure and merriment, feels the day at first hanging heavy on him; his difficulties oppress, and his doubts distract him; he sees time come and go without his wonted gratification, and all is sadness within, and solitude about him. But this uneasiness never lasts long; necessity produces expedients, new amusements are discovered, and new conversation is admitted. No expectation is more frequently disappointed, than that which naturally arises in the mind from the prospect of meeting an old friend after long separation. We expect the attraction to be revived, and the coalition to be renewed; no man considers how much alteration time has made in himself, and very few inquire what effect it has had upon others. The first hour convinces them that the pleasure which they have formerly enjoyed, is forever at an end; different scenes have made different impressions; the opinions of both are changed; and that similitude of manners and sentiment is lost which confirmed them both in the approbation of themselves. Friendship is often destroyed by opposition of interest, not only by the ponderous and visible interest which the desire of wealth and greatness forms and maintains, but by a thousand secret and slight competitions, scarcely known to the mind upon which they operate. There is scarcely any man without some favorite trifle which he values above greater attainments, some desire of petty praise which he cannot patiently suffer to be frustrated. This minute ambition is sometimes crossed before it is known, and sometimes defeated by wanton petulance; but such attacks are seldom made without the loss of friendship; for whoever has once found the vulnerable part will always be feared, and the resentment will burn on in secret, of which shame hinders the discovery. This, however, is a slow malignity, which a wise man will obviate as inconsistent with quiet, and a good man will repress as contrary to virtue; but human happiness is sometimes violated by some more sudden strokes. A dispute begun in jest upon a subject which a moment before was on both parts regarded with careless indifference, is continued by the desire of conquest, till vanity kindles into rage, and opposition rankles into enmity. Against this hasty mischief, I know not what security can be obtained; men will be sometimes surprised into quarrels; and though they might both haste into reconciliation, as soon as their tumult had subsided, yet two minds will seldom be found together, which can at once subdue their discontent, or immediately enjoy the sweets of peace without remembering the wounds of the conflict. Friendship has other enemies. Suspicion is always hardening the cautious, and disgust repelling the delicate. Very slender differences will sometimes part those whom long reciprocation of civility or beneficence has united. Lonelove and Ranger retired into the country to enjoy the company of each other, and returned in six weeks, cold and petulant; Rangers pleasure was to walk in the fields, and Loneloves to sit in a bower; each had complied with the other in his turn, and each was angry that compliance had been exacted. The most fatal disease of friendship is gradual decay, or dislike hourly increased by causes too slender for complaint, and too numerous for removal. Those who are angry may be reconciled; those who have been injured may receive a recompense: but when the desire of pleasing and willingness to be pleased is silently diminished, the renovation of friendship is hopeless; as, when the vital powers sink into languor, there is no longer any use of the physician. Other Essays by Samuel Johnson: On the Style of Jonathan SwiftConversationThe Bugbear StyleAn Encomium on Sleep The Decay of Friendship, by Samuel Johnson, was first published in The Idler, September 23, 1758.

Investment appraisal under uncertainty Essay Example | Topics and Well Written Essays - 1250 words

Investment appraisal under uncertainty - Essay Example Literature review Real option valuation calls for an elaborate and a firm strategy to form a conceptual tool to make the decision for the company (Kim & Sanders 2002). The most appropriate tool to be used in uncertainty cases is using real option as a technique to assess investments for contexts with high market, technical and technological uncertainty (Billington, Johnson & Triantis 2002). This is because they allow managerial flexibility and option analogy. Real options ensure delaying making a right decision on investment of a company until a time when the right information is obtained to make the best decision. Kim & Sanders (2002) notes that real option approach in this case takes into consideration ascertaining important sources of ambiguity and distinguishing, making, and fostering options whose values comes from responding to new information about the uncertainties. Mun (2002) notes that real options are important in identifying taxonomy of the business. Real options are more important in growth options of the business since they are analogous to financial call options. Longstaff & Schwartz (2001) notes that, real options involve a sequence of investment over a period that makes them preferable than the other capital budgeting decisions. These real growth options thus compound options, where options are formed upon the exercise of previous options. Moreover, real options are better used as techniques to assess investments for contexts with high market, technical and technological uncertainty since they allow companies to make decisions on contracting situations. This can have a significant impact on the value of the shareholder (Li & Johnson 2002). Value Drivers of Real Options Kim & Sanders (2002) notes that value created from the right and not the obligation to acquire or exchange a specific asset, has value even though not ad infinitum. Option value determined by several factors, both quantitative and qualitative. Understanding the above factors enab les managers to make the appropriate decisions in order to exploit them. Uncertainty about the future Real options are determined by uncertainty about the future. This implies that if more possibilities of interacting with the uncertainties exist, then they will create value. This situation is created by asymmetric payoff structure alongside discretionary rights. Time to expiration Real options are also determined by the time to expiration. This situation implies that the more time an option takes to exercise the option, the more valuable the option will become. The reason behind this rationale is that the lengthy time will work to increase uncertainty. However, in other cases, increases in uncertainty are often offset by increased in costs, which are triggered by the lengthy period (Li & Johnson 2002). Time value of money Real options are also affected by the time value of money. This is an essential part since money affects all the sectors of the economy. Monetary policies by the government affect all sectors of the economy and have impacts on investment decisions, which concern undertaking or abandoning the project. Time value of money affects inflation, cost of capital, and macroeconomic stability, which in turn affects real options. The reason behind this is that the interest rate charged by the central banks affects the time value of money, thus exposing real options to political risks. Qualitative factors Real options are

Details of structural members in concrete and steel buildings Essay

Details of structural members in concrete and steel buildings - Essay Example Steel is not adversely affected by weather, easy to erect, strong and durable with low weight. Its main function is in the formation of a skeleton that holds the whole structure. The components for concrete, that is, cement, sand and aggregates are easily available and affordable worldwide making allowing preference for concrete structures. From research and studies, concrete has been realized to be brittle, strong in compression and weak in tension. From these properties, modalities of improving it have been designed. The most currently used modality is its reinforcement. Reinforced concrete therefore has been realized to withstand tension and compression leading to its durability and use in many structures. Literature review The study and test of steel for industrial construction has been done for many years. Its properties led to its popular use since the early 1990’s. Due to this demand, designs for steel structures have been implemented. The main factor that has driven the designs is earthquake disasters. Its design has evolved from stiffer approach to flexibility and ductility. During the 1970’s, proven formulas were used to design steel structures. Advanced technology through Computer Aided Design has improved designing work with building codes controlling the steel industry. Working stress design was the main factor for consideration in concrete members since 1960s. Strength design method was adopted by the International Building Code (IBC) in its 1956 edition. The concepts considered are strength needed inclusive of the load and strength of the design with an aim of achieving durable structures. The designs lead to increased costs in construction with reduced maintenance costs. Due t o low maintenance costs, projects like highway infrastructure and industrial buildings make use of reinforced concrete. Maintenance costs are likely to be incurred due to misuse of the structures and poor workmanship that are unpredictable (Berman, Gary 8). Details of structural members in concrete and steel buildings The success of concrete and steel structures is pegged on durability, economical factors and strength of structures. These attributes are achieved through proper design of structural members to support the weight of the structure and bear both the dead and live loads and lateral loads exposed to it. Live loads refer to inhabitants in the structure and dead loads are items attached to the structure while lateral loads arise from wind and or earthquakes. The purpose of members in steel and concrete structures is to unite and support all loads transferred in the structure via the allocated load paths to foundation members. Soil and or rock where the structure’s fou ndation is laid finally support the load. Structural members work as one unit using the joints to transfer bending moments, shear and axial forces. Structural members discussed in this article are; beams and one-way slab, two-way slabs, columns, walls and foundations. One-Way Systems In this type of floor or roof system, all members run in one direction with a common flexural

Strategic Plan for a Popcorn vending business Research Paper

Strategic Plan for a Popcorn vending business - Research Paper Example The names of management team members are John Smith, Jessica Wilson, Michelle Williams, Peter D’Souza and Tracy Crosby; the company was founded to meet the growing demand of high quality and efficient popcorn vending machines. The company has grown from one location in a shopping mall to five different locations in various parts of the town; the expansion has been done in a period of two years and it is expected that the number of locations will expand further in future as vending machine industry is expected to grow at an accelerating rate of about 10% (Gerdees, 4). In order to penetrate further in the vending industry, the company aims to introduce new and innovative commercial vending machines for restaurants along with food and beverage equipment. Currently, the company is employing a secretary, one general manager, two supervisors, ten paid line employees and an accounting manager. Since the company is small, there is also one Human Resource Manager, one Production, Operations & IT manager and one Marketing & Sales manager. The span of control and line of communication is shown in the following figure: The management team ensures that the communication in the organization is open so that the employees can have easy exchange of information and the business plans are effectively developed and implemented. With the help of the organization chart, everyone within the organization will be aware of their reporting responsibilities that who will be evaluating their job and performance. The chart will even ensure that everything is well-organized and co-ordinated. At present, the company is manufacturing the pop corn vending machines for small organizations and it is planning to design customized popcorn vending machines in the next two years that can be placed in public places so that the pop corns are easily accessible by the people. However, the company will offer newly designed coffee vending machines along with soft drinks vending machines so

Mainstream internationalisation theories

Mainstream internationalisation theories Mainstream Internationalisation Theories Instead of looking at the global strategy of the MNE from the viewpoint of management science, marketing, and decision theory, it is necessary to consider more explicitly the economics of the foreign investment decision. International business activity is not a recent phenomenon. However, the great majority of foreign investment until the late 1940s was in the form of portfolio capital, which international capital theory explained as the flow of capital among countries in the pursuit of higher returns. After World War II, the volume of foreign direct investment (FDI) grew tremendously and was increasingly directed away from primary goods and towards knowledge-based products that could be produced in developed countries. Neoclassical economic theory, with its assumption of perfect markets and internationally immobile factors of production, could not easily accommodate this post-war boom in FDI. So, beginning with the publication of the product cycle theory by Raymond Vernon (1966) and Stephen Hymers dissertation (written in 1960 and published 1976), an outpouring of literature has focused on extending the theoretical foundations of the concept of foreign direct investment. The objective of this chapter is to provide a review of the mainstream literature on internationalisation. Given my research problem, the focus is on theories that consider transnational expansion at the firm level. Among others, the investment development path (IDP) concept and Ozawas tandom growth treatment of the flying geese metaphor are popular frameworks for considering FDI. They are not included, however, since their research setting is that of the economy as a whole. Despite considerable disciplinary diversity, a mainstream internationalisation construct with three major approaches can be identified: Theories of the MNE, Internationalisation Process Models, and Network-based Approaches to Internationalisation. The first of these, Theories of the MNE, is outlined in Section 2.1. Since these MNE theories have been criticised on the grounds that they may explain the existence of the international firm but not how the firm got there, Section 2.2 reviews Internationalisation Process Models, which more explicitly focus on the dynamic process of internationalisation. Section 2.3 examines leading network-based approaches to internationalisation. The chapter concludes with a summary of the points that are most applicable to my thesis and an assessment of the limitations of the mainstream internationalisation literature. Theories of the MNE This section presents the economics-based literature on MNEs, beginning with Hymers seminal work. Following a review in Sections 2.1.2 and 2.1.3 of Internalisation Theory and Dunnings OLI framework, Section 2.1.4 focuses on theorisations specific to developing-country MNEs. Monopolistic Advantage Theory Hymers (1960) work represented a major departure from the standard orthodox theory of international trade and capital movements. The standard neoclassical trade theory of Heckscher and Ohlin, for example, carried restrictive assumptions about the immobility of factors of production and identical production functions across national boundaries. And in the neoclassical financial theory of portfolio flows, multinational enterprises had been viewed simply as arbitrageurs of capital in response to changes in interest rate differentials. Hymer argued that explanations for why firms engage in international production should be based on an analysis of the MNE from an industrial organisation perspective. According to Hymer (1976), Kindleberger (1969), and Caves (1971), MNEs emerged because of market imperfections. These imperfections were structural in nature and resulted from the control of ownership advantages, such as special access to inputs, scale economies, gathered managerial expertise, proprietary technology, and product differentiation (Kalfadellis and Gray: 2003: 3). The result of these barriers to entry was a divergence from perfect competition in the final product market. MNEs would seek to internalise these ownership advantages by establishing monopolistic-type advantages through the vertical integration of the potential licensee (Hymer 1976). Internalising operations could lead to gains such as cost reductions, product quality improvements, and innovation. For Hymer, though, the firm internalises or supers edes the market (1976: 48) primarily because, by internalising international economic activity, the MNE has an opportunity to further advance its monopolistic advantage. In short, it is the pursuit by firms of market power and monopolistic advantages in a foreign market that largely drives the international expansion of domestic firms. Internalisation Theory A criticism raised in the 1970s about Monopolistic Advantage theory was that it did not differentiate between imperfections brought about by market structure (i.e., the number and size of enterprises on both the demand and supply sides) and those associated with transaction costs. By not doing so, Buckley and Casson (1976) and others argued Hymer had failed to incorporate the insights of Coases (1937) concept of market failure. Coases theory of the firm contended that, contrary to the classical understanding in which price mechanisms optimally coordinate markets, market failure can occur as costs associated with the price mechanism develop (such as finding buyers and sellers, and the costs involved with negotiating, coordinating, monitoring, and enforcing contracts, and costs associated with government regulations and taxes). The operation of markets is therefore not costless, and the firm is an organising unit that supplants the price mechanism. Domestic firms would prefer to use internal prices in the face of excessive costs in the outside market. Firms therefore seek to avoid these costs by internalising them wherever the market is non-existent or when it is cheaper for the firm to undertake the activity internally rather than via the market mechanism. To Coase, markets and firms were alternative methods for organising economic exchanges. The choice between the two depended on whether a firm evaluated the transaction costs of an exchange to be lower if carried out within the firm than through the market. Where the costs of such transactions are lower when carried out within the firm than through the market, the activity will be internalised under the firms ownership and control. The concept of transaction costs was more fully developed by Williamson (1975) and Chandler (1977). Transaction cost theory extended Coases work by substituting a conception of contractual man for neoclassical theorys economic man. Its starts with the assumption that markets are the natural mechanism of economic organisation (Williamson 1975: 21), and that market failures lead to the replacement of certain market relations by internalising these relationships within a firm. The deficiencies of the market system are seen to be rooted in bounded rationality (i.e., the lack of perfect knowledge which means that agents cannot foresee all possible circumstances to incorporate in the contract) and opportunism (i.e., agents make decisions based on self-interest, thus making the contract difficult to enforce). Drawing upon Coases (1937) theory of the firm and Williamsons (1975) and Chandlers (1977) transaction cost theory, Buckley and Casson (1976) argued that these same insights can be applied to the global arena to explain the growth of MNEs. Accordingly, Buckley and Casson explained international expansion as occurring whenever a market imperfection exists and a firm can gain strategic benefits by internalising a market across national boundaries and exploiting the advantage this gives it in competition with others. This results in the growth of the firm. Just as a firm may increase its efficiency through internalising transactions, the vertical integration of global operations may lead to economies and efficiencies. These include long-term contracts through more efficient governance structures, the chance to exploit tax differentials and foreign exchange controls, better quality control, and RD benefits. Brown (1976) also combined insights from Coases theory with transaction cost theory and applied it to international expansion. He put particular emphasis on the point that there are higher market transaction costs and more expenses associated with internal organisation abroad than in the domestic environment. Teece (1983) added the insight that internalisation can also be advantageous when vertically-integrated firms need to secure their supply of intermediate goods. So, whereas transaction cost theory aims to explain the existence of the firm, the aim of internalisation theory is to explain its multi-plant operation over space (Casson 1982). And whereas Hymer argued that it is the pursuit of market power that drives MNE growth, Buckley and Casson (1976) argued that once transaction costs are internalised they do not necessarily lead to an increase in rent by the MNE. However, they can result in savings for the MNE, and it is this potential cost minimisation that provides the impetus for MNEs to expand their operations via the internalisation of transaction costs. Internalisation theory has been a dominant construct in the last quarter century of international business literature in relation to the growth of the MNE and FDI. However, it does have weaknesses. For instance, internalisations inherent intangibility makes it difficult to empirically test (Kalfadellis and Gray 2003: 10). Buckley, describing internalisation as a concept in search of a theory (Buckley 1983: 42), argued that a theory needs to do more than assert firms will internalise when the cost of using markets or contractual agreements is higher than that of organising it within the firm; it needs to explain why there were differences in costs between market and intra-firm organisation (Hennart 1986: 791). It has also been seen as overly-preoccupied with the costs of organising transactions in markets, leading it to under-appreciate other relevant costs, especially those associated with managing firms across borders (Demsetz 1988). An argument has been made that it does not sufficiently distinguish between a firms willingness and its capability to become more international (Dunning 1993). These types of limitations led Calvet (1981), among others, to question whether the assertion that firms expand overseas because they can internalise transactions within their hierarchies (just as they do within a domestic context) is a full enough explanation. Calvet argued instead for a theory of transnational expansion that explicitly included both the multinational-the foreign-character of the activity as well as the internalisation of transactions within a single firm. Dunnings OLI Paradigm A third landmark development in MNE theory was Dunnings OLI paradigm, sometimes referred to as the eclectic paradigm. Countering Rugmans (1982; 1985) claim that internalisation is a general all-encompassing theory which can explain FDI, Dunning (1980; 1988; 1993; 1995; 2000) acknowledged the importance of internalisation theory but argued that set[ting] out to explain the growth of international production as a market replacing activity (Dunning 1988: 24) explains only part of the FDI phenomenon. Dunning argued that a full explanation required the integration of the insights from three strands of economic theory industrial organisation, international trade theory, and internalisation theory into a general theoretical framework.[1] Each dimension on its own was insufficient to explain the multinational firms engagement in foreign production. According to Dunning, a firm must perceive certain advantageous conditions before it engages in cross-border investment. These advantages are rationally considered within the firms decision-making process. The first relates to ownership (O) advantages, which, following Hymer, refer to assets or resources capable of generating a future income stream that could compensate for the higher costs of operating abroad. Ownership advantages are endogenous to the firm and refer to intangible assets and/or property rights. These O advantages give the firm a competitive edge vis à   vis other firms. The second factor is internalisation (I) advantages, which encourage a firm to internalise operations for production via foreign direct investment rather than through exporting or licensing to a local producer. In other words, the firm must perceive the benefits of internalising of operations to be greater than the need to utilize markets. If a firm perceives it has sufficient O and I advantages, th en it will examine a third set of conditions, location (L) advantages. Choosing a foreign location is one of the key decisions made by a firm since the financial and human capital invested must generally be long-term in nature. Drawing upon the insights of location theory, Dunnings L advantages were considered to be external to the firm and determine which host country is selected for expansion. (A fourth condition later added by Dunning [1993] asserted that a firms international investment activities must harmonize with its long-term management strategy.) In the eclectic paradigm, all three of these conditions must exist for FDI to occur. If a firm only perceives it has ownership advantages, then it would be likely to license abroad. If it also perceives internalisation advantages, then it would be likely to exploit its O advantages through exporting. It is only when location advantages are also perceived that the firm may consider FDI (Dunning 1993: 196). Dunnings OLI paradigm has been welcomed for its conceptual richness-it integrates many partial approaches to the subject and therefore addresses a larger number of the factors considered in the decision to internationalise-and it has withstood some empirical testing (Dunning 1979, 1983, 1988). However, it has also frequently been criticised, particularly on definitional grounds. For example, Rugman and Dunning had a long-running public debate over whether Dunnings concepts of ownership and location advantages were already encompassed in the theory of internalisation (Parry 1985). In a similar vein, Buckley (1988) suggested that considering ownership advantages as a separate category results in double counting as the O advantage of Dunnings OLI triumvirate is already accounted for by I (internalisation advantages) since the firm seeks to carry out a strategic move by internalising the market and thus exploits this advantage in competition with other firms. Responding to definitional criticisms, Dunning (1995) argued that, in contrast to how they are conceived in internalisation theory, ownership advantages are endogenous rather than exogenous variables already belonging to the firm. Accordingly, he stressed a definitional division between ownership advantages, which are already possessed by firms, and internalisation advantages, which result from the firms exploitation of market imperfections. The electric paradigm has become a leading conceptualisation for FDI, and as such there now many variants within the approach. For example, another eclectic framework that is pertinent to my thesis concentrates on understanding how a firm chooses among various entry modes. In comparison to Dunnings OLI paradigm, the framework by Hill et al. (1990) emphasised the control of resources, resource commitment, and the dissemination risks of entry. They argued that firms rationally weigh different entry modes with the need to control their foreign operation. The amount of control a firm can exercise varies from minimal in the case of licensing to maximally high in wholly-owned subsidiaries. A firm also weighs the resource commitment that is involved with the different entry modes, and the risk that its firm-specific advantages could be disseminated or expropriated by a partner. As discussed in Chapter 5, the latter danger was frequently highlighted by my interviewees as an influence on thei r internationalisation decisions. Though eclectic models such as those by Hill et al. and Dunning have a dominant place in the MNE and FDI literature, they do have significant shortcomings. Some critics find the emphasis on the initial phase of internationalisation makes them unhelpful. Others have argued that inadequate attention was given to the insight that firms make cross-border investments not just to reap benefits from existing ownership advantages but to create new ones, such as acquiring knowledge in new markets or access to resources. Also, the broadness of the eclectic decision-making framework has made it difficult to formulate operationally testable theories of foreign direct investment processes, especially given the heterogeneity of firms. Various proxy measures have been employed as a means for measuring internalisation, but the validity of proxies in general has been contested (Kalfadellis and Gray 2003: 11). Similarly, ranking the large variety of strategic alternatives the firm can choose among is methodologically problematic. Two other criticisms of the eclectic decision-making paradigm have been particularly acute and are of specific concern given the subject of this dissertation. The first is that they principally focus on relatively large firms from developed countries. Dunnings OLI paradigm, in common with the other theories of the MNE reviewed in Section 2.2, was developed primarily in response to the experiences of post-war expansion by developed-country multinationals. Transnational firms from developing countries, it has been argued, require a different approach (Lall 1983a; Wells 1983a; Khan 1986a; Yeung 2004). For instance, as they are frequently much smaller than developed country MNEs, their transnational investment choices may be more chunky in nature, in the sense that certain costs that are incurred in international activity will loom relatively larger for small firms than big ones. Second, the eclectic framework has been criticised for its lack of dynamism. While it is not true that Dunnings OLI model has no dynamic dimension, Buckley (1985: 18), for example, argued that it does adequately consider the deployment of advantages over time.[2] Both of these shortcomings are apparent when eclectic frameworks are applied to the phenomenon of Singaporean SME transnational expansion into China. Developing-Country MNE Theories A dramatic growth in outward FDI flowing from developing countries has occurred over the last three decades. Prior to the 1980s, more than 90 per cent of global FDI originated from developed countries. Since the early 1990s, though, the share of outward FDI from developing countries has rapidly grown; it was over 14 per cent in 2006 (WorldBank 2008). Moreover, aggregate figures conceal the relative intensity of developing-country FDI flows from, and into, certain countries and regions The bulk of this outward FDI-some 67 per cent-has originated from South, East, and Southeast Asian countries (WorldBank 2008). Though the availability and quality of FDI data has been problematic-an important point which is discussed in Chapter 6-it is clear that China has received a particularly large percentage share of FDI originating from developing countries. A number of researchers have argued that MNEs originating in developing countries possess distinctive characteristics in comparison to their counterparts from developed countries (Lall 1983a; Wells 1983a; Khan 1986a; Yeung 1996). One obvious difference is that they are generally much smaller, which may make locational advantages and the internalisation of transactions costs less plausible explanations for internationalisation (Wells 1983a). Though still dwarfed by the number of theoretical and empirical studies investigating developed-country MNEs, research into these unconventional MNEs (Giddy and Young 1982) has by now developed into a large body of literature that can be divided into two categories: first-wave and second-wave literature. The so-called first-wave literature emerged in the late 1970s and was primarily concerned with the cost advantages of developing-country firms in comparison with their competitors from developed countries. Two strands of literature dominate. One is based on Wellss (1983) application of the product cycle concept (originally associated with Vernons seminal article [1966]) to the situations found in developing countries. The second dominant strand of first wave literature is associated with Lall (1983). Wells contended that an understanding of developing country transnational firms could be undertaken by applying Vernons concept of the product cycle (1966), which explained changes in production locations as a reaction to different stages in a products life cycle. Vernons argument was that a new product had to be produced in the home country since it was unstandardised and thus production needed to be monitored close to the products source of innovation and markets. As the product matured and became standardized, producers would increasingly become concerned about production costs and seek cheaper production sites elsewhere. Thus, Vernons model suggested that locations of production moved from developed countries to less developed ones as products went through their life cycle over time. This would then explain investment flows from developed- to less developed-countries, and flows among less-developed countries. The uniqueness of Wells approach lies in his application of the product cycle concept to explain the emergence of developing-country transnational firms. Wells suggested that the markets and characteristics of developing countries influence local firms to innovate in ways that are more suited to the development conditions found in their country. In particular, he pointed to the smaller size of the markets and relative abundance of cheap labour in developing countries as key influences on local firms. Wells suggested that firms developing in this kind of environment could build their initial advantages from descale manufacturing, a process of adapting technologies from developed countries to suit less developed markets by reducing scale, replacing machinery with manual labour, and relying on local inputs. The cost advantages to be derived from descale manufacturing would constitute a very important ownership advantage, and, to exploit these costs advantages, developing country firms w ould concentrate on serving the price-sensitive market instead of the specialty markets dominated by firms with the resources for massive marketing. This kind of low-cost, low-price competitive strategy would largely confine the transnational expansion of developing country firms to those markets of other developing countries at or below the host countrys economic status. Changes over time in investment flows would occur as this cost advantage was gradually undercut by the catch up of local firms or affiliates of advanced-country multinationals. Wellss model has been influential, though it does seemingly suggest a rather pessimistic future for developing-country transnational firms (Wells 1983 and Aggarwal 1984). Taking a different approach, Lall (1983) argued that the smaller size of production in developing countries was not by itself evidence of a descaling advantage (1983: 11). He did not share Wellss pessimism over the sustainability of developing-country firms, asserting instead that such firms could generate their own sustainable proprietary assets to be exploited successfully in transnational operations. Lall saw the development of these proprietary assets as entailing different innovations than those used by multinationals from developed countries; for instance, they would come from widely diffused technologies and from a special knowledge of developing-country markets. They would be sustained, Lall contended, by the localisation of technical change and the irreversibility of such change. So, developing-country firms could develop products more suitable to developing-country markets, and innovations could be localised around techniques more relevant to developing-country market condi tions (such as cheap labour). Thus, according to Lall the ownership advantages of developing-country transnational firms come about not because of their ability to descale manufacturing technologies to smaller markets, but rather are derived from their greater knowledge of operations and conditions in developing-country markets (see also Kimura 2007). Such advantages would not necessarily be eroded over time, as suggested by Wells, since firms could engage in RD and continued learning. Challenging these models by Wells and Lall is the so-called second-wave literature that emerged in the early 1990s. This new strand was a response to the apparent changes that were seen to characterize more recent developing-country transnationals. For instance, it was observed that they were investing in markets farther away from home, in some cases in highly competitive markets such as the United States and European Union, and in new sectors, some of which did not depend on labour-intensive techniques. Moreover, the ownership-specific advantages of the newer transnational firms had changed. No longer did they seem primarily dependent on small-scale, labour-intensive technology, low-price, and low-cost operations. Now, they appeared to also derive ownership advantages from their ability to accumulate technological capabilities and to improve their production efficiency (Dunning 2000). This last observation in particular encouraged second-wave theorists to apply the concept of technological accumulation to try to understand the more recent transnational expansion of developing-country firms (e.g., Dunning 2000; Ulgado et al. 1994). The result was a model that proposes that over time technological accumulation can lead to a more sophisticated structure of outward investment. This gradually comes about, it was argued, as firms accumulate technological expertise and experience in foreign markets. Although their technological capabilities are not based on frontier technology, developing-country firms are believed to innovate and accumulate technological skills that will be appropriate to the environment of developing-country markets. Thus, a firms initial outward investment, which is originally centred on resource-based and simple manufacturing activities in markets close to home, changes to focus on more sophisticated manufacturing activities, eventually even to resea rch-intensive and differentiated products. Through this path, second-wave theorists suggested, firms can enhance their technological capabilities over time, which will improve their ownership advantages, and, eventually, allow them to catch up with competitors from developed countries. A variant within the second-wave approach was proposed by van Hoesel (1997). He argued that firms from developing countries begin their technological accumulation process by gradually climbing the value-added ladder, from shop floor production operations upward to other value-added functions such as marketing or RD activities. They need to do this, according to van Hoesel, because developing countries are latecomers to the industrialisation process and therefore their firms do not have significant proprietary innovations (in some respects, van Hoesels approach is similar to the Late Industrialisation framework, reviewed in Section 2.3.3). The ownership advantages of developing-country firms are therefore seen to lay initially in the lower value-added production units, with international expansion largely a function of the incremental accumulation of technology that moves the firm up to more sophisticated operations. This incremental technological accumulation process is also held to determine the organisational form of the firm, with early investment forays typified by lower-risk and less-committed forms, such as sales representatives and joint ventures with local partners, and later investment characterised by more complex forms, such as wholly owned subsidiaries or acquisitions of local firms. Despite the valuable insights provided by both the first- and second-wave literature, it has generated criticism on methodological, empirical, and theoretical grounds. From a methodological point of view, Ulgado et al. (1994: 125) raised the important point that most of these studies of investment by developing-country firms consist mainly of macro-level considerations at the expense of micro-level studies of organisational, operational, and managerial workings. These aggregate analyses often fail to reveal the detailed dynamism of the internationalisation process and the other aspects of business organisation, such as the cultural, political, and social context. Moreover, the FDI from some countries is heavily concentrated in particular markets or industries, and this may lead to research bias. For example, van Hoesel acknowledged that, as his study was of Korean and Taiwanese MNEs in the electronics industry, his conclusions might not be applicable to other developing country MNEs (1997: 239). In fact, it should be more pointed out more generally that the availability and quality of FDI data from developing countries is limited and therefore conclusions drawn from it may not be reliable. In short, more studies at the firm level are called for to provide insights on the internationalisation behaviour of MNEs from developing countries. Section 2.1 has reviewed a number of conventional economics-based theories of FDI. They share the perspective that FDI is motivated by a firms desire to exploit its proprietary advantages abroad. These advantages are seen as transferable from country to country within a firm, but transferred only with difficulty between firms. While the proprietary advantages from developed-countries are derived from frontier technologies and sophisticated management and marketing, those for investors from developing-countries are embodied in imported technologies that have been localised through imitation and adaptation. These theorisations, however, are often criticized for their rather aggregated analyses and for their emphasis on explaining the structure of MNEs as opposed to the process by which firms internationalise. The following section reviews models that explicitly concentrate on the dynamics of transnational expansion. Internationalisation Process Models Internationalisation process theorising began with the early studies carried out in the 1970s by a group of Scandinavian scholars. Unlike the economics-based theories reviewed in Section 2.2 which accept the neoclassical economic model of rational agents exhibiting optimizing behaviour as a core assumption, the so-called Scandinavian School is rooted in the behavioural theory of the firm (Cyert and March 1963; Hosseini 2005: 528-9). The behavioural dimension is the assumption that learning takes place in response to limited cognitive capabilities in a complex and uncertain environment. Accordingly, internationalisation process models attribute the timing of market entry, its structural form, and its development over time as functions of the increasing commitment of managers to foreign markets. The process behind this increasing commitment is not (neoclassical) rational executive decision-making but an incremental learning trajectory that is human- and history-dependent. A variety of internationalisation process models can be found in the literature. These have often been divided into two groups (Andersen 1993). The first group is the so-called innovation-related lear

Essay Contrasing Gertrude and Ophelia of Shakespeares Hamlet

Contrast of Gertrude and Ophelia in Hamlet  Ã‚        Ã‚  Ã‚   Queen Gertrude and Ophelia, the main female characters in Shakespeare’s dramatic tragedy Hamlet, have a variety of contrasting or dissimilar personal qualities and experiences. This essay, with the help of literary critics, will explore these differences.    John Dover Wilson in his book, What Happens in Hamlet, discusses what is perhaps the greatest dissimilarity between Ophelia and Gertrude – their morality:    His [Hamlet’s] mother is a criminal, has been guilty of a sin which blots out the stars for him, makes life a bestial thing, and even infects his very blood. She has committed incest. Modern readers, living in an age when marriage laws are the subject of free discussion and with a deceased wife’s sister act upon the statute-book, can hardly be expected to enter fully into Hamlet’s feelings on this matter. Yet no one who reads the first soliloquy in the Second Quarto text, with its illuminating dramatic punctuation, can doubt for one moment that Shakespeare wished here to make full dramatic capital out of Gertrude’s infringement of ecclesiastical law, and expected his audience to look upon it with as much abhorrence as the Athenians felt for what we should consider the more venial, because unwitting, crime of the Oedipus of Sophocles (39).    Quite opposite the criminality of the king’s wife is the innocence of Ophelia, who might be called a â€Å"broken lily† (O’Donnell 241). In the Introduction to Twentieth Century Interpretations of Hamlet, David Bevington enlightens the reader regarding this dissimilarity between the two ladies:    Characters also serve as foils to one another as well as to Hamlet. Gertrude wishfully sees in Ophelia the b... ...ffs, NJ: Prentice-Hall, Inc., 1968.    Boklund, Gunnar. â€Å"Hamlet.† Essays on Shakespeare. Ed. Gerald Chapman. Princeton, NJ: Princeton University Press, 1965.    Coleridge, Samuel Taylor. Lectures and Notes on Shakspere and Other English Poets. London : George Bell and Sons, 1904. p. 342-368. http://ds.dial.pipex.com/thomas_larque/ham1-col.htm    O’Donnell, Jessie F. â€Å"Ophelia.† The American Shakespeare Magazine, 3 (March 1897), 70-76. Rpt. in Women Reading Shakespeare 1660-1900. Ed. Ann Thompson and Sasha Roberts. New York: Manchester University Press, 1997.    Shakespeare, William. The Tragedy of Hamlet, Prince of Denmark. Massachusetts Institute of Technology. 1995. http://www.chemicool.com/Shakespeare/hamlet/full.html No line nos.    Wilson, John Dover. What Happens in Hamlet. New York: Cambridge University Press, 1999.