The Elusive Term :: Essays Papers

The Elusive Term The word "ring-giver" is slippery because it does not stick to its logical meaning. Once researched and defined, it is known that a ring-giver is a king or overlord. Not just a king can be called a ring-giver. A person in an administrative position can be referred to as a ring-giver. The thanes who received this award of arm-ring or neck-ring proved their battle-worthiness and were held in high respect by their kinsmen. Therefore the warriors kept close watch of their rewards. After research, one also finds the term "ring-giver" is a kenning; or Anglo - Saxon metaphor. Ring-giver is an elusive word. Separately, "ring" is defined as an ornamental circular band worn on a finger, and "giver" is defined as to hand over something. Putting those two definitions together, ring-giver implies the act of giving rings. However, this is not at all the case. A ring-giver is a king or overlord. Someone in power is also referred to as being the ring-giver. In the Norton Anthology we read "in heroic poetry at least, a principal form of currency was the gold arm ring; which had the advantage of being valuable, portable and showy; hence the king always being referred to as 'ring-giver.' " (28). Although it was usually the king who was given the name "ring-giver," anyone in power, could be given the title. In the "Grendel, Beowulf's most famous enemy" site, we see another occurrence of a ring-giver being born: "When the retainers [soldiers] returned from battle, they were expected to turn over their bounty to their chief, who would then redistribute it according to the performance of each retainer during battle. Thus, we often find the dryhten [overlord] being referred to as the 'gold-giver' or 'ring-giver.' Usually the king had the power to distribute bounty or rewards, but here we see that anyone in the leadership position might have been given the illustrious title of "ring-giver." The king or overlord gave out arm-rings or neck-rings to promote valor and fighting for land and king. The individual who received the ring was honored by his fellow soldiers. These rings worn on either arm or neck, gave the wearer recognition and instant envy in others. They were symbols of strength and courage; there must have been many attempts to steal such objects of monetary and social value. However, it is doubtful that the brave men who received such awards ever gave the opportunity to lose their trophies.

Six Sigma Question Paper

MGT 561 – Operations Management Exam B Student Name: ____________________________Date: _________ Operations and Productivity (each question is worth 1 point) 1) Manufacturing and service organizations differ chiefly because manufacturing is goods-oriented and service is act-oriented. TrueFalse 2) Operations, marketing, and finance need to function independently of each other in most organizations if they are to be truly effective as an organization. TrueFalse 3) â€Å"How much inventory of this item should we have? † is within the critical decision area of quality management? TrueFalse 4) Customer interaction is often high for manufacturing processes, but low for services. TrueFalse 5) Productivity is the total value of outputs produced divided by the total value of all inputs to the transformation process. TrueFalse The operations function includes which of the following activities. a) forecasting b) capacity planning c) scheduling d) managing inventories e) all of the above Manufacturing-related jobs are decreasing in America for which of the following reasons. a) global competition b) technology advances ) because manufacturing workers in California earn $25K/yr less than service workers d) a and b e) b and c Which of the following is not a typical service attribute? a) easy to store b) intangible product c) customer interaction is high d) simultaneous production and consumption e) difficult to resell Operations Strategy in a Global Environment (each question is worth 1 point) One reason to globalize is to learn to improve operations. TrueFalse 10) Dec isions that involve what is to be made and what is to be purchased fall under the heading of supply chain management. TrueFalse The use of a SWOT analysis is only applicable to manufacturing organizations? TrueFalse The product life cycle phases include introduction, growth, maturity, and decline. TrueFalse Which of the following is true about business strategies? a) an organization should maintain its strategy for the life of the business b) all firms within an industry will adopt the same strategy c) well defined missions make strategy development much easier d) strategies are formulated independently of SWOT analysis e) organizational strategies depend on operations strategies The ability of an organization to produce services that, by utilizing the consumer’s five senses, have some uniqueness in their characteristics is a) mass production b) time-based competition c) differentiation d) flexible response e) experience differentiation Which of the following is the best example of competing on low-cost leadership? a) a firm produces its product with less raw material waste than its competitors b) a firm offers more reliable products than its competitors c) a firm’s products are introduced into the market faster than its competitors d) a firm advertises less than its competitors Which of these is not one of the characteristics of high return on investment organizations? a) high product quality b) high capacity utilization c) low investment intensity d) low direct cost per unit e) global location Design of Goods and Services (each question is worth 1 point) Studies confirm that firms considered to be industry leaders typically generate 15-20 percent of their overall sales from new products released over the last 5 years. True False 18) QFD stands for quality for development. True False Value analysis focuses on design improvement during production. True False 20) The analysis tool that helps determine what products to develop, and by what strategy, by listing products in descending order of their individual dollar contribution to the firm is a) decision tree analysis b) pareto analysis c) breakeven analysis d) product-by-value analysis e) product life cycle analysis 21) Quality function deployment a) determines what will satisfy the customer b) translates customer desires into the target design c) is used early in the design process d) is used to determine where to deploy quality efforts e) all of the above 2) Which of the following is true concerning CAD? a) accurate information flows to other departments b) most product costs are determined at the design stage c) design options are easier to review before final commitments are made d) virtually all products have their development cycle shortened e) all of the above are true The dimensions, tolerances, materials, and finishes of a component are typically shown on a (an) a) eng ineering drawing b) bill of material c) statement of work d) work order e) none of the above Managing Quality (each question is worth 1 point) 4) An international quality standard developed to establish commonly accepted procedures to manage product quality is ISO 9000. True False 25) Statistical process control, one of the tools of total quality management, uses statistics and control charts to evaluate processes. True False 26) The concept of selecting best practices to use as a standard for performance is referred to as a quality circle. True False 27) Generally speaking, the cost of quality represents the cost of doing things wrong, that is, the price of nonconformance. True False 8) Which of the following is not one of the major categories of costs associated with quality? a) prevention costs b) appraisal costs c) internal failures d) external failures e) none of the above, they are all major categories of costs 29) A successful total quality management (TQM) program incorporat es all of the following except: a) continuous improvement b) employee involvement c) benchmarking d) centralized decision-making authority e) none of the above 30) The â€Å"four M’s† of cause-and-effect diagrams are a) material/machinery/manpower/methods b) material/methods/men/mental attitude ) material/management/manpower/motivation d) none of the above Supply Chain Management (each question is worth 1 point) 31) The objective of the make-or-buy decision is to help identify the products and services that should be purchased externally or made internally. TrueFalse Because service firms do not acquire goods and services externally, their supply chain management issues are insignificant. TrueFalse Blanket orders are a long-term purchase commitment to a supplier for items that are to be delivered against short-term releases to ship. TrueFalse 34) One of the keys to effective supply chain management includes developing â€Å"long-term partnerships† with key suppliers. TrueFalse 35) Standardization is the process of increasing the number of variations in materials and components to assist in supply chain’s efforts to enlarge their supplier base. TrueFalse In supply chain management, ethical issues a) are particularly important because of the enormous opportunities for abuse b) may be guided by company rules and codes of conduct ) become more complex with the increasing trend toward global suppliers d) may be guided by the standards of the Institute for Supply Management e) all of the above are true An approach that seeks efficiency of operations through the integration of all material acquisitions, movement, and storage activities is a) integration b) logistics management c) line balancing d) product design e) none of the above Inventory Management (each question is worth 1 point) 38) One function of inventory is take advantage of quantity discounts TrueFalse 9) ABC analysis is based on the presumption that carefully controlling all items is necessary to produce important inventory savings. TrueFalse 40) In cycle counting, the frequency of item counting and stock verification usually varies from item to item depending upon the item’s ABC classification. TrueFalse 41) Insurance and taxes on inventory are part of the costs known as setup or ordering costs. TrueFalse 42) Most inventory models attempt to minimize a) total inventory based costs b) the number of orders placed c) the safety stock ) the likelihood of a stockout e) the number of items ordered 43) The major purpose of safety stock is to a) replace failed units with good ones b) eliminate the possibility of a stockout c) eliminate the likelihood of a stockout due to erroneous inventory tally d) control the likelihood of a stockout due to the variability of demand during lead time e) protect the firm from a sudden d ecrease in demand 44) The following are inventory models for independent demand a) basic economic order quantity (EOQ) b) production order quantity c) quantity discount model ) a and b only e) a, b, and c JIT and Lean Production Systems (each question is worth 1 point) 45) In a JIT system, product inspection adds value by identifying defective items. True False 46) Because most services cannot be inventoried, there is little place for JIT to help service organizations achieve competitive advantage. True False Kanban is the Japanese word for card that has come to mean â€Å"signal† in JIT terminology. TrueFalse Setup time reductions are not a key aspect of an effective lean production system. True False 9) If the goals of JIT partnerships are met, which of the following is a result? a) for incoming goods, receiving activity and inspection are outsourced b) in-transit inventory falls as suppliers are located closer to facilities c) the number of suppliers increases d) in-plant inventory replaces in-transit inventory e) all of the above are consequences of meeting the JIT partnership goals 50) Which of the following is not a layout tactic in a JIT environment? a) work cells for families of products b) fixed equipment c) minimizing distance d) little space for inventory e) poka-yoke devices

Advertising on a Global Scale Essay

When a company, brand, or product is marketed within several countries, a significantly different approach to advertising must be made opposed to if it was only being sold within one country. A company’s awareness of the international advertising can greatly affect how well a product is accepted by its target audience and how well it sells. The most important aspect of global advertising is an understanding of culture. This involves considering the language barriers, the cultural significance of images and signs, and the applicability that a certain product may have within different countries. Addressing these three factors, overall, can help to increase the appeal of a product or service; and it is essential that companies realize that implementing a standardized method of advertising is not always the most effective way to enter a foreign market. There have been several debates in regards to the regulation of global advertising. Two contrasting statements have been made—one that suggests that advertising standardization is the most profitable approach to international marketing, and another that promotes localization. Those who support the standardization method â€Å"†¦argue that standardizing advertising can help maintain a uniform global strategy and image of the firm, maximize the firm’s cost advantage and meet a universal need of people across the world† (Zou and Volz 2010: 57). The adaption method, however, stresses that differences and barriers between cultures, spoken languages, historical contexts, and socio-economic factors between various countries affects the way in which advertising messages are perceived and translated. It is therefore does not make sense to implement only one form of advertisement that is meant to span a variety of countries and cultures, because one single campaign cannot apply and appeal to every market worldwide. Perhaps the arguments in favor of standardizing international campaigns, particularly the language that is being used, stems from the fact that English has become the dominant language in the world. The majority of advertisers and other people who work in the global marketing industry speak English, regardless of what is their country of origin; and it appears as if many advertisers are beginning to apply this theory to the consumers. Despite the widespread use of English and the fact that is the most commonly used language in advertising worldwide, the concept of advertising standardization has been widely criticized in favor of adaptation. It is somewhat hasty to assume, after all, that all people worldwide are fluent in English, simply because most of those working in the business sector happen to speak the language. What about those in smaller towns or non-Western countries such as Cairo, Egypt? Egyptians who work in the tourist or hospitality industry are likely to speak English, but many of the average citizens—who are all potential consumers—will not necessarily speak English or be able to understand the writing. Studies have also shown that the use of a local language tends to appeal more to those who live in the area, especially within countries that perceive their spoken and written language to be a valuable part of their culture. Hornikx, Van Meurs, and De Boer write that â€Å"†¦ads that appeal to important cultural values (such as independence in the United States or loyalty in Mexico) should be more persuasive than ads that appeal to relatively unimportant cultural values (such as loyalty in the United States or independence in Mexico)† (2010: 171). Empirical studies have also proven that ads using the local language and cultural values of a country tend to be favored as opposed to those with a standardized language and advertising message (Hornikx, Van Meurs, and De Boer 2010: 171). Although it is clear that language adaption is important, the preference that locals have for their language does not imply that advertisers should not use English in foreign countries. They simply need to use English in a way that is effective in conveying the message behind a campaign, and have an understanding of how the English language is perceived in each particular market they are trying to enter. Among Chinese consumers who frequently purchase upscale or luxury goods, global advertising, brands, and products tend to be preferred over domestic good. This is because in Chinese culture, in particular, â€Å"†¦global advertising elements are valued as signs or surrogates for status, cosmopolitanism, excitement, modernity, quality, technology, and beauty† (Zou and Belk 2004: 71). If advertisers are going to use English, however, it is crucial that they simplify the language as much as possible in order to minimize the risk of misinterpretation. There is no point in using a standardized advertising campaign in China if nobody is going to understand what it says. In the Netherlands, the use of English slogans in advertising was also preferred to Dutch, so long as the slogans were easy to read and translate (Louhiala-Salminen and Rogerson-Revell 2010: 95). This shows how the use of English, in many countries, could actually be beneficial and profitable for a company; but since not all countries perceive English the same way, it is important for advertisers to understand how and English campaign will be accepted within their target market. English will not necessarily be preferred to the local language, nor will global brands necessarily be favored over domestic products— which proves that language adaptation should still be used in some situations as opposed to absolute language standardization. Along with deciding whether or not the local language should be used in an international advertising campaign, companies need to consider the visuals that they are using. What is the significance of the images within that culture? Could they possibly be negatively misinterpreted? What do the local consumers consider to be visually appealing? All of these factors, of course, differ between countries and cultures. Studies have shown that there is a significant difference between the way in which high-context cultures and low-context cultures interpret ads. These high-context cultures include China, Japan, the Mediterranean, and Arab nations, where a lot of information is left unspoken and messages are often coded. Low-context cultures, however, refer to the United States, Germany, the UK, and other Western European countries. In these countries, everything is relatively straight-forward and messages are made clear (An 2007: 307). An describes the findings from many studies, which all â€Å"†¦imply that the idea of employing advertising visuals that reflect the communication styles of a particular national market appears to be a promising strategy to effectively reach consumers around the world† (2007: 303). This suggests that multinational advertisers should seek to differentiate their visuals between Eastern and Western cultures if they wish to make a product or service appeal to the people. In the United States, for example, celebrities—from singers, to socialites, to athletes—dominate magazine pages, commercials, and billboards as the spokes models for various brands. This tends to attract the attention of the American public, as they recognize the celebrities and typically create a positive association between that celebrity and the product. In the Middle East, however, using a celebrity athlete to represent a box of cereal will not make that cereal appear any more appealing than if the box were blank. Advertisers, instead, must determine what will be visually pleasing to consumers in countries that have different values than those from more Western countries. In addition to finding what a will attract people in terms of advertising visuals, it is essential to be and respectful of cultural beliefs and customs. Consider countries in the Middle East, where Islam is a dominant part of society. This religion stresses modesty, especially amongst women. Kalliny et al describe how in countries such as Saudi Arabia, â€Å"†¦women are not allowed to walk in the streets with their faces uncovered†¦ [and there are] women wearing long clothing in 83 percent of Arabic magazine advertisements showing women, compared to the 29 percent in U. S. advertisements† (2008: 218). With female modesty being so important within certain cultures, it is extremely important that multinational advertisers be cautious about whether their visuals will be appropriate. It would not be a good choice, for example, for an advertiser to market a brand of women’s perfume in Saudi Arabia with an enormous billboard showing Britney Spears wearing a bikini and holding a bottle of perfume. This would be considered offensive and would not be beneficial for the popularity of a product. The Japanese cosmetics industry also presents an interesting example of the importance of visual marketing and how advertisers need to pay attention to what will efficiently sell a product. As the second largest market in the world in terms of cosmetics, it was estimated to be worth roughly 1. trillion yen back in 2003 (Barnes and Yamamoto 2008: 299). Research regarding what type of models Japanese women prefer in beauty campaigns indicated a surprising fact. Although white models are widely used in Japan, because they are considered to be the ideal form of beauty, Japanese women actually preferred to buy cosmetics that used Japanese models in the advertisements. Barnes and Yamamoto discuss how this is due to white models not being applicable to Japanese women in terms of physical beauty. The Japanese, for example, value fair complexions, while Westerners typically prefer tans. Additionally, â€Å"†¦since the Japanese facial structure is different from that of Westerners, they will not become similar in appearance if they use the same make-up as a Western model† (2008: 310). This proves how a choice of visual representation in an advertising campaign can greatly affect how a product is accepted within different countries, and how advertisers must adjust their images or models accordingly. As research within the Japanese beauty industry has shown, applicability is crucial in global advertising. If a product or service has no value, necessity, or appeal in a certain country, hen consumers will not purchase the product. An advertisement’s message and content, therefore, is important and can determine how much interest is generated amongst consumers. In one particular study involving 40 different advertising campaigns and 1200 consumers, the significance of content was examined. Van Den Putte states that the study indicates that â€Å"†¦after controlling for the effect of previous purchase behavior, the effect of message content strategy is generally larger than the effect of advertising expenditure† (2009: 669). This shows how it is not necessarily a campaign’s budget that determines the success of a product, but the message and content that it contains. Alcohol advertisements have been successful in tailoring their ads to suit the requirements of different countries and cultures. One example is the comparison of alcohol advertisements between the United Kingdom and Ukraine. Beefeater Dry Gin, a spirit brand that often appears in GQ magazine, markets their gin in Britain quite minimally. Their ad consists of a lime splashing into a bottle of gin, with the splash pattern forming the British flag. The slogan simply reads â€Å"Refreshingly London†, with one more line that says â€Å"Distilled in London since 1820† (Wolburg and Venger 2009: 15). That is all that is needed in order for British consumers to understand the product and find some sort of value in the liquor. In Ukraine, however, alcohol companies have to take a much different approach. Wolburg and Venger state that, because drinking has not been instilled as a cultural norm in Ukrainian society, â€Å"†¦marketers have had to educate Ukrainians about drinking various alcoholic beverages. Ads, magazine articles, and Web sites must not only teach Ukrainians how these drinks are prepared and consumed; they must also explain what makes certain brands authentic† (2009: 15). This involves the importance of cultural applicability—if alcohol advertisers do not understand the need to educate certain consumer markets about their product in detail, then consumers will not see a need for the product altogether. McDonalds has been one of the most successful companies in terms of launching their fast-food chains globally and adjusting their products and advertising campaigns to appeal to local consumers. In India, for example, many of the people do not eat beef; so to increase its appeal, McDonalds in India sells a lamb burger as part of its menu, and markets its fish fillet sandwich much more than it does in the United States. It also utilizes many small, local farmers and food suppliers in order to make the company seem more localized and appealing to the Indian consumer base (Sarin and Barrows 2005: 23). The original, American version of McDonalds would most likely have been unsuccessful in countries such as India if the company had not made some adjustments. If McDonalds in Indian maintained the same American menu, then the Indian public would undoubtedly not have been as accepting of the brand and its products. Not only was the company culturally sensitive to the dietary restrictions that many Indian people have due to religious meanings, but it also used local suppliers as an acculturation strategy. With a menu that conforms to the eating habits of India, along with the use of their own famers and suppliers, McDonalds has become well-adjusted to the global community and has effectively made itself applicable to a wide variety of cultures and consumers. Culture is the most important factor in any advertising campaign, regardless of its origin. Advertisers cannot simply use one campaign and expect it to be accepted, appealing, and applicable to every country. Standardization also forfeits the competitive edge that one brand may have over another if it is able to successfully integrate its product into a foreign market. Paying attention to the language, visuals, and significance of a product is essential in global advertising, and advertisers must alter their campaign in order to better suit the tastes and values of individual cultures.

Ibm Case Study Essay

1. What factors led to IBM’s success during the 1960s and 1970s and its problems during the late 1980s and early 1990s? 3 pts. 2. Q: What did Gerstner do when he assumed the role of CEO in April 1993? A: Gerstner realized that rather than break up the company, he could turn it around by going to market as â€Å"one IBM.† To prevent customers from leaving in droves before he completed the turnaround, Gerstner called on each senior executive to go out to a group of customers and â€Å"bearhug† them. He made the executives personally responsible for their assigned customer accounts and accountable for any problems that arose. At the same time, he asked each of the executives to write two papers, one on the executive’s business and the other on key issues and recommendations for solving problems and pursuing opportunities. Q: Evaluate Gerstner’s approach to crisis management. How well did he perform as a turnaround manager? A: I’d have to give credit to Gerstner. He seemed to know where the problems lied within the company and viewed himself from a customer standpoint, rectifying customer concerns but from a corporate head standpoint. Based on the following information, this is how he did it: â€Å"The sales organization, which had been organized by geography and product, was reorganized into global sales teams. In response to numerous customer complaints, a customer relationship manager and a dedicated sales and service team were appointed for each key customer account. These teams were grouped within larger vertical industry teams, and product specialists were assigned to each. The product specialists served as boundary spanners, moving back and forth between focused product groups and key account teams, taking product knowledge to the field and customer input back to the product groups. Product specialists reported to the product organization, but incentives rewarded increased sales of their products through industry sales teams.† It is as if Gerstner knew the problematic areas that made the company fail to meet satisfactory levels and although it was a tough call, Gerstner’s turnaround plan seemed a success and as a masterplan! Q: What challenges did he face as he attempted to position the company for growth? 5 pts. A: The changes Gerstner proposed was met by some or much opposition. Many that had been around the company for quite some time, felt as though the changes that Gerster was implementing meant the demise of the company that they knew. The methods of which Gerstner was using from a manager’s standpoint seemed a bit unorthodox and didn’t fit well with the IBM culture and business model. Here is what was mentioned as a challenge Gerstner faced: â€Å"One group of managers—those who ran IBM’s country organizations—found the move to â€Å"One IBM† especially difficult. They believed global managers could not be relied upon to make the right choices for local markets and that initiatives and instructions from IBM corporate needed to be â€Å"customized† for particular countries. The differences came to a head when Gerstner found out that his notes to employees were being rewritten by country managers to â€Å"better fit their environment.† The senior executive responsible for the country managers was fired, and many country managers resigned. Those who stayed were rapidly elevated to key positions. Despite pockets of resistance, Gerstner was impressed by employees’ capacity to absorb change:† So based off the 3. Why do large established companies, like IBM, find it so difficult to build successful and sustainable new businesses? 3 pts. 4. Evaluate IBM’s approach to leading mature, high growth, and emerging business opportunities. What are the organization design and leadership models required to manage each type of business? How should a company like IBM (or AT & T, for example) manage the innovation process? 7 pts. 5. What challenges did Sam Palmisano face as he assumed control of IBM in March 2002? Can a company like IBM (or AT & T) be organized for both innovation and efficient operation – can it be both â€Å"big† and â€Å"small†? What advice would you give Palmisano at the end of the case? 7 pts. NOTE: You must respond to these questions in your own words i.e. do not copy straight from the case study – provide your interpretation and analysis.

Week 3&5&7&8 discussions Coursework Example | Topics and Well Written Essays - 2000 words

Week 3 discussions - Coursework Example Just before the 16th century ended Islam had spread through conversion and had surpassed Buddhism and Hinduism as the most dominant religion of Sumatra and Java peoples. Initially the spread of Islam was driven mostly by increased trade links. The second factor that led to the dominance of Islam as a religion was the role played by missionaries (Sufis).Thus the Sufis played a major role by spreading the religion by syncretising of Islamic ideas with the existing local religious notions and beliefs. Eventually Islam was embraced by the ruling classes which greatly helped the permeation of the faith throughout the whole region. Islam is still dominant in Indonesia where it harbors 12.7% of all the world’s Muslims. 2. Muslims in Malaysia have rejected Islamic Fundamentalism because of its hard line policies and amid fears that the country could plunge into religious extremism, instability and terrorism. Some Malaysians therefore fear there could be rise in religious fundamentalism if Islamic Fundamentalism was accepted. Over the years Malaysia has detained several suspected terrorist, some of which are linked to al-Qaeda. 3. Ethic Chinese economic success dates back to several centuries ago. It is true that many Chinese people are good entrepreneurs and they are always willing to work hard and smart for money. This has led to their being discriminated against by the locals in several SE Asian countries such as Indonesia. Another economic success factor of the ethic Chinese is that they have a free market under a communist rule. The fact that ethic Chinese businessmen are dealing with America, means they are owed trillions of dollars by America. Dealing with America has made them very rich and successful. Several Chinese Company owners are super rich whereas low class is struggling since they are paid very little for their labor. China does not have tough employment laws and thus has very cheap available, which ensures very high profits. 4. Singapore

International Finance in USA Assignment Example | Topics and Well Written Essays - 1750 words

International Finance in USA - Assignment Example Last March 9, 2006, the US Census Bureau/US Bureau of Economic Analysis issued a press release outlining the state of the country’s economy. It announces that total January exports of $114.4Billion and imports of 182.9 billion resulted in a goods and services deficit of $68.5 billion, which is $ 3.4 billion, more than the 65.1 billion in December. January exports were 2.8 billion more than December exports of 111.6 billion. January imports were 62.2 billion more than December imports of 176.6 billion. (U.S. Department of Commerce, March 9, 2006). The balance of payments (or BOP) is a measure upon which a country traces how much money flows into or out of a given country or countries1. Factors involved in the determination of balance of payment is the country’s export2 and import3 of goods, services and financial capital4, including financial transfers. The need for some balance of payments statistics can be traced back to the Fourteenth century when the Bullionist Doctrine5 was developed in England which led to the prohibition of export of bullion. This is the early form of Mercantilism which seeks to achieve an equilibrium between the value of exports and imports (Soderstien 1980). The latter part of the Mercantilist period observed that there are also transactions which stem from trade relations outside of the country and should be taken into considerations in order to establish a state of economic equilibrium. The principle of balance of payment gives us an idea of how much money or wealth is flowing and how much is flowing out of the county. If the amount of wealth flowing out of the country is more than the amount flowing into such a country, we have a negative balance of payment or a deficit. In the same manner, where more wealth enters into the country than that which flows out, then we have a positive balance which we refer to as surplus.  

Exam Notes - Strategic Management Analysis Essay - 1

Exam Notes - Strategic Management Analysis - Essay Example The company engages in the business of producing electric vehicles that are more efficient and appealing to many users than the steam cars. It exists to improve the environmental conditions that the previous locomotives have degraded due to the high level of greenhouse gases that they emit into the atmosphere. Despite the rigidity and complexity of the motor industry, Better Place Company cooperates with all stakeholders to control a sisable market share and beat competition. For example, the company targets corporate clients to be the potential buyers of electric vehicles it intends to manufacture. This group of stakeholders is imperative because the targeted consumers can influence the operations in the company by either propelling it to success in the market or reducing its dominance if they refuse to purchase the products. Governments are the second major stakeholders for the company. They include national governments and local authorities of the country and specific areas where the company operates a franchise. For instance, the company operates in the United States and intends to open branches in Israel, Denmark, Japan, Canada, and Australia among others globally. The branch in Israel is very significant to the company because it specialises in research and development to improve the quality of output. This means that the company must work with the respective government of each country to ensure uninterrupted operations and sustainability. These governments are equally important because their policies, in areas of taxation and electric utility may affect the company. The other important category of stakeholders for this company is its suppliers. This group includes car manufacturers, battery companies and venture capital firms whose contributions and influences to the company are immense. For example, venture capital firms are important to the organisation because they provide the much needed capital for startup. For instance, they helped the company to r aise a total of $200 million to initiate the business (Etzion & Struben 2011, p. 2). Battery manufacturers, including Fuji Heavy Industries Ltd, A123 Systems and Automotive Energy Supply Corporation are also significant because they would provide connectivity for the electronic vehicles with switching stations, positioned to charge and swap batteries so that the vehicles would change them at convenience (Etzion & Struben 2011, p. 6). In addition, there has to be battery chargers at each station capacitated to charge the batteries within the shortest time possible. The car manufacturers such as General Motors, Ford, Subaru, Mitsubishi, and Toyota would provide experts who will contribute to the development of the electric cars (Etzion & Struben 2011, p. 12). Figure1: Stakeholder Analysis Topic 2 - Industry and Scenario Analyses In this scenario, the analysis is on Porter’s five forces, including the suppliers, potential entrants, buyers, substitutes, and competitive rivalry th at have a remarkable impact on the progress of the company (Porter 2008, p. 3). Certainly, the company understands that changes in the means of transportation came from the need to counter the increasing animals’ wastes and nuisance that they caused in urban centers. Other changes that necessitated the manufacturing of electric vehicles were the adoption of clean energy and other liquid fuels, which include ethanol, kerosene and gasoline in addition to petrol (Etzion & Struben