The Effect of the Internet on Global Marketing Strategies Assignment

The Effect of the Internet on Global Marketing Strategies - Assignment Example Internet services are important because they help global marketing possible because international businesses now attempt to use possible worldwide marketing instead of nationalized marketing(Shaw, 2012). In this case, the internet has two main purposes, demanding and enabling.   Enabling allows consumers to get in contact with a wide range of products (Shaw, 2012).   Clients who use or visit the websites share common lifestyles of communication because they have been directed to communicate with other customers through the internet (Shaw, 2012).   Furthermore, customers use different languages. This motivates the use of the English language, which is a common language of interaction (Shaw, 2012). In the demanding marketing strategies, the websites or the internet command that merchant’s use internationally recognized product names.   Using internet companies are in a position to identify leading states. This is usually achieved using global state competitions among man ufacturing companies.   Here, the internet provides information about the leading states or countries.   Through the internet, consumers can recognize the current trends and fashions that emerge because of technological developments (Ancarani, 2002).  Initially, the internet was introduced as a channel of education people through research and education (Ancarani, 2002).   However, it has developed to educate consumers on the type of current products in the market (Ancarani, 2002).   This is because it is still a source of information to consumers.   Consumers are currently seeking information about products from the internet.   This is advantageous because they have chances of choosing different products from different companies.   This changes the techniques of marketing used by different manufacturing companies (Ancarani, 2002).

Impact of the Internet for SMEs in Malaysia

Impact of the Internet for SMEs in Malaysia Introduction The Internet According to Hamil (1997) stated that the efficiency and effectively medium used for accessing, organizing, and communicating information is representing the Internet. The presence on the Internet in the advanced economies is establishing from multinational or domestic whether its large or small (Duffy Dale, 2000). There are 888 million users of Internet for worldwide in 2004 and it is expected to growth until 1.35 billion by 2007 (eTForecast, 2004 Internet World Stats, 2005). In the global online population, Asia rank the highest percentage followed by Europe and then North America with Asia is 34, Europe is 29.2 and North America is 24.9 (Internet World Stats, 2005). English is the main medium of instruction for the Internet and the online population is declining for its dominance in the Web while the Chinese and Spanish speaking users are lesser extent but the Japanese users are on the rise (Glreach.com, 2004). The world most populous and developing nations such as China, India, Indonesia, and Brazil has forecasted that there will be a little growth of the internet users (eTForecasts, 2004). Internet use and access is uneven across countries due to global reach as the population of internet users in South Korea is 63.3 per cent, Malaysia is 35.9 per cent, and Thailand is 12.8 per cent. The o verall population internet users of these 3 countries just make up only 3.6 per cent of India population (World States, 2005). According to Peterson et al (1997), the accessing to online market surveys, newspapers and journals, country and industry market research, trade lists of suppliers, agents, distributors, and government contacts in a large number of countries are the reasons of the firms access to Internet. Internet can play a role as intermediaries between producer and users that mainly in collection, collation, interpretation, and distribution of information (Liang et al, 2004 Quelch Klein, 1996). Internet provides a flexible, reliable, and low-cost method if compared to other means of communication such as telephone, fax, and post (Poon Jevons, 1997). In the existing marketing activity, Internet is playing a supporting role (Hazel, 1996). The traditional dominance of fixed location stores will be replaced by a new retail format which is provided by Internet (Evans, 1996 Van Tassel Weitz, 1997). Internet is the means of communicating information about retail organization, products, and services (Bruno, 1997). In the US, retailer view the Internet as an emergence marketing communication tools that used to attracting new customers, penetrating new markets, promoting companys brand, and improving customer retention (Ernst Young, 1997). Small Business Enterprise (SME) and the Internet Small business enterprise is independently owned and operated where it is not dominant in its field, and doesnt engage in new or innovative practices. Neighborhoods grocery stores, fast-food restaurant, hair stylists, dry cleaners, video or record shops, and the veterinarian are an examples of small businesses. Qualitative factors are also important in describing the small businesses. To be classified as small, a small business must have at least two of the following features that are management is dependent, since the manager usually owns the business; capital is supplied and ownership is held by an individual or a few individuals; the area of operations is primarily local, although the market isnt necessarily local; the business is small in comparison with larger competitors in the industry (Washington DC: Small Business Administration, 1985). Perhaps the best definition of small business is the one used by Congress in the Small Business Act of 1953, which states that a small is one that independently owned and operated and is not dominant in its field of operation. The act also authorized the Small Business Administration (SBA) to develop more detailed definition that takes into account such criteria as sales volume and the number of employees in the firm. Incorporating these criteria into workable guidelines for use in determining loans, the SBA has established the upper limits for small firms in this manner (Washington DC: Small Business Administration, 1985). As the global online users growing rapidly, SMEs have discovered unparallel new opportunities in the Internet that are entrepreneurial enough to recognize and take advantage of highly profitable niche markets (Forster, 2000 Poon Swatman, 1997). The researchers found that SMEs in the UK has been characterizes as dynamic, enterprising and ambitious as key role in entrepreneurship and innovation by DTI (DTI, 2000). McCalman (1999), states that the entrepreneurial character of the owner, individual managers or operational teams often associated with the fast growing of the new venture and the high growth and high technology firms appear to be more able and more willing to seize the opportunities afforded by the Internet. The Internet has changed the landscape of the firms in the worldwide and globalization is a key driven role for Internet usage by small firms to expand their operations to other nations. The main strategic factors that associated with successful information, communications, and technology (ICT) is often viewed by the organization learning, entrepreneurship, innovative workplace cultures, and knowledge management enhancement context. The Internet virtually has relevance either directly or indirectly for entrepreneurship management in every aspect of organizational learning (Matlay, 2001 Leitch Harrison, 1999). In the marketing context, Noh and Fitzsimmons (1999) have described complex, creative, and innovation relationship is a significant relationship found between Internet usage and the marketing functions where ICT and entrepreneurial activity strategically linked. The ICT opportunities that the marketing function can respond is depend on sustainable competitive advantage of the organizational changes which is the key to organizational survival (Brady et al, 1999 Komenar, 1997). In order to attract and retain customers, the SMEs have to derive customer service advantages and marketing performance gains by adopted transformative use of ICT (Brady et al, 1999). According to Martin and Matlay (2001), the relationship between marketing functions and ICT adoption in SME would make the firms need to make creative and innovative changes in ordeal to deal effectively with actual and perceived ICT related marketing opportunities due to less attention on strategic SME operations and emphasis mor e on managerial capacity and marketing opportunities. online marketing only the step two in a five stages sequential progress to e-commerce and full ICT integration by a company identifies by DTI adoption ladder. Market analysis and related responses or strategies might be seen as sophistication function for e-use in SMEs (Martin Matlay, 2001). Despite its high level of connectivity and basic e-commerce applications, business appear reluctant to move up the adoption ladder but the DTI adoption ladder model is heavily emphasis on financial based transaction (UK Online, 2000). In the UK, 80 per cent of the SMEs have accessed to the Internet and another much smaller proportion also able to implement and embed new technologies for strategic purposes based on the figures of Internet adoption (UK Online, 2001). The adoption of ICT in the smaller firms has made the impact on SME profitability largely due to high connectivity according to the number of recent benchmarking surveys (UK Online, 2000). The UK government has initiative to promote the use of ICT and has ambitious target for Internet adoption, some has been already achieved (UK Online, 2000). In 2002, the digital marketplace there was 1.5 million SMEs expected to be wired up since 1.7 million businesses already connected and 81 per cent of all firms in one form or another. The national e-economy development had shown the successful outcome of the achievements and impressive of Internet adoption (UK Online, 2000). Information technology is implemented in SME can described as multidimensional change process (Martinsons Chong, 1999 Butter Fitzgerald, 2001). Information technology is playing an important role for training in SME. According to Coates (2000), information technologies represent the drivers of change of all aspect of life. A new corporate culture and management change will form when the electronic commerce fit into organization operations (Fadden, 2000 Hard Knie, 2001). The most important element of implementation of information technology is human resources (Greene et al, 1997). Westhead and Storey (1996) describe that the implementation of information technology can intervene on training aid for change in developing human resources and human capabilities of the organization. Decision making has played a dominant role for owner-manager in SME sector (Jennings Banfield, 1993 Jennings Beaver, 1995). The owner-manager has acted as principal driving force for implementation and adoption of electronic commerce. The role of a person characterized is in conjunction with the nature of managerial activity (Jennings Beaver, 1995). The owner-manager has total control on training. So, Jennings and Beaver (1995) have stated that the extension of the owner-manager role is the provision of organization training. SMEs are operated under uncertain condition (Nooteboom, 1994 Storey, 1994 Acs et al, 1997). Skills and ability of SMEs have change in uncertain environment and SME has adopted (Hendry, 1995 Acs et al, 1997). Recognition of change has relation with the implementation of new technologies (Martinsons Chong, 1999 Coates, 2000 Buttler Fitzgerald, 2001). The Internet adoption in the SME has make SME staff learning through online collaboration. According to Flexwork (2004), a project supported by CEC FP5 IST Programme is a place where EU SME teleworking is gathering at Flexwork. Lawless (2004) stated that both virtual working and face to face contact are still needed as well as those frequent working online also have some face to face contact. The relationship forming through work online has to be considered to maintain well fairly (Walther, 1992). SME has practice team working and it is a most used method currently (Institute of Work Psychology, 1999). Computer World and British Telecom (2003) has stated that beneficiary from the process working online with others is SMEs wish and it must be properly conducted and resourced since there is over 50 per cent of SMEs has no formal IT strategy. ICT based environment is important for future networking platform and it is crucial for SME to cope with it (Ulbrich, 2000) and the need for chang e in SME has to take consideration on collaboration learning through ICT whether it is formal or informal (Fulantelli Allegra, 2003 Williamson et al, 2001). It is an ideal to have online collaborative training or learn cluster (Geer Au, 2002). Collaboration is required for supply chain and SME is a part of the supply chain especially in motor and technologies industry. The trial has been conducted in Athabasca University in Canada to simulate SME members (Athabasca, 2002). Some EU training organization has proposed online collaborative learning systems using virtual classrooms, network or similar (AutoTrainProject, 2000). The individuals in the same SME or separate SME can form the collaboration learning. The increase used of ICTs especially email for internal communication has become a crucial feature of innovativeness of SMEs as well as collaboration between individuals in same or separate SME (Andrew Pettigrew, 1997). Another increased capacity for innovation in SMEs are exter nal networking (Gray Allan, 2000). SMEs and the Internet in Malaysia Small and Medium Industries Development Corporation (SMIDEC) was established on 2nd May 1996 which is an agency under Ministry of International Trade and Industry to promote and coordinate the development of SMEs in Malaysia through specific programs, provide technical support and management counseling services with the cooperation with other agencies, forge linkage industries between SMEs and large companies or multinational companies, and collaborate with other agencies locally and internationally to develop the SMEs (Small and Medium Industries Development Corporation Malaysia, 2008). Malaysia adopted a common definition of SMEs to facilitate the identification of SMEs in the various sectors and subsectors. It has facilitated the government to formulate effective development policies, support programs as well as the provision of technical and financial assistance (Small and Medium Industries Development Corporation Malaysia, 2008). The categories of SMEs in Malaysia consist of manufacturing, manufacturing related services and agro-based industries and another category is services, primary agriculture and information and communication technology (ICT). The enterprise in SMEs in Malaysia varies from micro enterprise, small enterprise, and medium enterprise (Small and Medium Industries Development Corporation Malaysia, 2008). The Malaysia government has recognized that ICT would serve as a foundation to transform Malaysia from a P-based economy to K-based economy. ICT was emphasized as an enabler mainly in manufacturing sector and National Information and Technology Council (NITC) was established and its primary function is to ensure that ICT well integrated in the socio-economic fabric of the nation (Ministry of Science, Technology, and Innovation Malaysia, 2007) In the 9th Malaysia Plan, the strategic plans for Malaysia ICT including the implementation of Digital Content Development, E-Commerce, SSO, Bioinformatics, MyICMS 886 which consist of Content Development, ICT Education Hub, Digital Multimedia Receivers, Communication Devices, Embedded Components and Foreign Ventures. It also includes the launching of MSC Phase II and increasing the number of MSC status companies from 973 to 1236 (Ministry of Science, Technology, and Innovation Malaysia, 2007). According to Ministry of Science, Technology, and Innovation Malaysia facts and figures 2008, the number of main lines subscribers is 588 per 1000 inibitants, number of internet users is 714.3 per 1000 inhibitants, number of broadband subscribers is 96.13 per inhibitants, and number of computer subscribers is 805 per 1000 people in 2007 (Ministry of Science, Technology, and Innovation Malaysia, 2008). The government has embarked on a concerted effort to improve the development of the SME sector. The government has integrated 14 ministries and 60 agencies as a model to approaches the SME to source of information of their businesses and stage of development. The Small and Medium Enterprise Development Council endorsed and launched the SMEinfo Portal as an integration of the Internet adoption and SMEs in Malaysia and a mechanism to enhance the efficiency and effectiveness of dissemination of information to SMEs. Its a one stop online information resource SMEs across all sectors of the economy (SMEinfo, 2008). The SMEinfo Portal is portals that can comprehensive access to information and is a multilingual information portal outreach to wider SMEs as the function as sources of financing and types of financial support by financial institutions, business support programs by ministries and government agencies, training and advisory services, SME Business Adviser Network, managing counseling services, and relevant tools such as financial tools as well as events by ministries and government agencies (SMEinfo, 2008). The important features of the SMEinfo Portal is the SME Business Directory where SMEs can advertise products and services to large potential customers worldwide, sources of raw materials and relevant services by contracting suppliers, and identify potential customers to venture into new market for their products and services (SMEinfo, 2008). Problem Statement According to Ministry of Science, Technology, and Innovation Malaysia facts and figures 2008, the number of main lines subscribers is 588 per 1000 inibitants, number of internet users is 714.3 per 1000 inhibitants, number of broadband subscribers is 96.13 per inhibitants, and number of computer subscribers is 805 per 1000 people in 2007. In UK, there are 80 per cent of SMEs have adopted Internet and another smaller proportion of small businesses also able to implement and embed new technologies for the strategic purpose. The small businesses in Malaysia have less adoption of Internet in business if compare to other countries such as UK and USA. So, the Internet adoptions in small businesses in Malaysia have another prospective such as some are using for information accessed. The Internet adoption for small businesses in UK and USA has been a long history in the industry. The early adopters for the Internet has used for the range of functions such as marketing and advertising, informa tion gathering, customer support and service and electronic transaction. There are several model to conduct the research on the Internet adoption for small businesses such as Rogers model of perceived attributes of the Internet. The firms has asked to rate their perceptions of Internet use for the business. From the previous research, Rogers, (1995) has listed the perceived attributes of the Internet as a strong influence exert on business use as: To what perceptions of innovation attributes for the research contribute to internet adoption for small businesses in Malaysia Research Objectives In this changing technology era, the internet has become more important for everyone to access for information, shopping and communications especially in the business use. So, the purpose of the research for the impact of the internet adoption for small businesses in Malaysia is: To investigate the relationship between innovation attributes and the internet adoption for small businesses in Malaysia. To identify the relationship between relative advantage of internet adoption and small businesses in Malaysia. To identify the relationship between compatibility of internet adoption and small businesses functions in Malaysia. To identify the relationship between complexity of internet adoption and small businesses in Malaysia. To identify the relationship between trialability of internet adoption and small businesses in Malaysia. To identify the relationship between observability of internet adoption and small businesses in Malaysia. Importance of the Study The importance of the study of research project titled The Factors Contribute to Internet Adoption for Small Businesses in Malaysia can be contributed to the industry, education and society. The study of this research can make an impact on industry, education, and society for different reasons. The impact of the study of this research on industry is identification of the potential business growth by small businesses in Malaysia with the Internet adoption. Business of the firm can growth by penetrating different market segments and coverage more geographical areas with using Internet as a marketing tool. Another impact of the study is can make the firm adopt process innovation and product innovation to reduce the cost of the production and capture the value of the customers with the quality products. The entrepreneurial opportunity also could discover on the study of this research. Youth could create entrepreneurial opportunity with the Internet adoption for developing own Electronic Business with the low cost, easy, and convenience method. The study of this research could create job opportunity in the industry especially from IT fields and entrepreneurship field. Besides, the importance of this study also contributes to the education. In education, undergraduates can have an improvement process of acquiring knowledge and information with the Internet adoption on academic. Universities and colleges can provide entrepreneurial skills and knowledge for undergraduates on students entrepreneurship development programs, academics and students organization on free enterprise. It also could increase the understanding of the technology in terms of information system and web development. Lastly, the importance of this study also contributes to the society. The study of this research can make an impact on society by reducing the employment rate for the country with the job creation by small businesses. It could increase the quality living of the society with the easy and conveniences services provide by small businesses on the adoption of the Internet. Foreign relation between people and people or government and government can be improving with the development of the Internet on the small businesses. The economies of the country can growth with the expansion and development of small businesses industry and small businesses can penetrate to another countries using Internet as well as increasing exports business of the country. Organization of Research Project The organization of the research project titled The Factors Contribute to Internet Adoption for Small Businesses in Malaysia overall consist of five chapters with each chapter has different aspects ranging from the different explanation of internet adoption and small businesses from different authors of journals to statistical analysis of the research study. In the chapter one, the definition and explanation of the internet extracted from different authors quote in different journals. The subtopics consist of the Internet, the SMEs and the Internet, and the SMEs and the Internet in Malaysia. In the chapter two, the literature review will extracted the quote from different authors in the journals to organize as a study of the internet adoption contribute to the small businesses in Malaysia. The other reviews of the literature are the relative advantage, compatibility, complexity, trialability, and observability of the Internet adoption in any fields. In the chapter three, the methodology of the research will explain the sources of data collection from primary and secondary data. The hypothesis of the study and the procedures for collecting the samples will be explained here. In the chapter four, the discussions and results will based on the geographic profiles of the small businesses. The chi-square analysis will analyze differentiates of E-Commerce and Small Businesses, differentiates virtual consumer behavior from retail consumer behavior, and the level of understanding of small businesses. The multiple regressions will focus on the entrepreneurs interest in virtual store strategic management. Finally, the chapter five will describe the summary and conclusion of the research. The research will recommend the solutions for the problems of the study. Literature Review Internet Adoption Theory of reasoned action (TRA) (Fishbein Ajzen, 1975), technology acceptance model (TAM) (Davis, 1989), and theory of planned behavior (TPB) (Azjen, 1991) reported as a number of studies of IT adoption. Adam et al (1992) stated that the fundamental determinants of acceptance of IT adoption consist of perceived usefulness and perceived ease of use and it can be widely used in the IT adoption. Perceived usefulness is a major determinant of peoples intention to use computers while perceived ease of use is a significant secondary determinant of peoples intention to use computers by competing two competing models of computer technology usage, TAM and TRA. It can conclude as peoples use of computer technology can be predicted reasonably well from their intentions. The TAM has been selected as a useful basis for starting build a model of adoption of the Internet since TAM is slightly better from an empirical point of view in the comparison of TAM and TPB (Mathieson, 1991). The researchers found that technology acceptance; reasons of using IT and behavior of using IT can derive the definition of the Internet adoption. Besides, the researchers also found the definition of Internet adoption in other context such as supply chain management. Italian firm has made adoption modalities of IT to integrate into supply chain management to make their business growth. According to Chandrashekar and Schary (1999), in order to fit the customer request, the Internet can act as an enabler in depicting the firms. The efficacy and effectiveness of reaching higher level of performance is the integration and information technology (IT) and it can be regard as the most competitive and imitable weapons (Tan, 2001). Porter (2001) stated that modification of supply chain (SC) relationships, boundaries, and mutual influence is an integral part of the Internet in firms strategy. In the former Central and Eastern European, innovation of technology has been introduced into commercial. Famous researchers such as Rogers have been workout to derive the definition of the Internet adoption from the technology innovativeness context. Everett M. Rogers (1995) was formulated the innovation adoption theory. The innovation adoption theory has been widely used in analyzing the adoption of the Internet (Wolcott et al, 2001), various Internet related applications (Black et al, 2001 Polatoglu Ekin, 2001), and software products (Karahanna et al, 1999 Kautz Larsen, 2000). Rogers (1995), regards the perceived new unit of adoption of an individual can be defined as an idea, practice, or object in term of innovation. Rogers (1995), also defined the adoption is a process that members of a society can communicated through certain channels over time. Schumpeter (1934, 1939 1942) has stated that new application of invention, discovery or new or existing knowledge as an innovati on. The innovation also can be defined as the introduction and new development of knowledge derived tools, artifacts, and devices by which people extend and interact with environment (Tornatzky Fleischer, 1990). The related technologies linked closely and innovation is a cluster of Internet adoption and banking (Rogers, 1995). The factors influence the Internet adoption because the traditional modes of communication of the firms in the transitional markets of obtaining information on foreign markets, and communicated through business partners, customers, and distributors are costly and time consuming (Nguyen Nguyen, 2001). According to Rogers (1983), the adoption is an alternative solution where the firm confronted with the problems. The organizations strategies, policies, and actions as well as beliefs, attitudes, and intentions lead to the adoption of IT (Leonard Barton Deschamps, 1995). The adoption of IT for organizations continuously collecting information about target market needs and competitors capabilities and using it to create superior customer value. It is important and valuable for market orientation of an organization (Slater Narver, 1995: 63). Organizations innovativeness on IT facilitates the market orientation so that the forming of market orientation firms could gather information on m arkets and environments (Han et al, 1998 Jaworski Kohli, 1993). Besides, Firm creating and use knowledge influences the organizational factor in learning organization (Sinkula et al, 1997). As learning environment is creates and encourages in learning oriented firms lead to the rise of adoption and implementation of new ideas, process, and products to produce innovative capacity for the firm (Hurley Hult, 1998). Learning and sharing of knowledge opportunities exist among members of learning oriented firms from individual level to organization level (Nonaka Takeuchi, 1995). Slater and Naver (1995), explained that how an organization acquire, process, and use market intelligence is a question to the ability in engagement in adapting the generative learning as a key component of organization learning orientation. The leveraging of superior learning environment is the use of all resources including the behaviors that accompany market orientation (Baker Sinkula, 1999). As stated by the above definition of Internet adoption in the supply chain management context, there are many factors contribute to affect the relationship of the Internet adoption. An easy and fast way in the process of acquiring and sharing information and the efficiency and effectiveness of improve performance are linked to the aspect of Internet adoption (Deeter-Schmeltz Norman-Kennedy,2002 Ronchi, 2003). The mistakes and time reductions and contribution to the order and stock cuts facilitate the better coordination among players of network (Akkermans et al, 2001). The enhancement of business model development providing innovation opportunities and competitive advantages challenge as well as strategic dimensions of SC design are the impact of Internet adoption (Wouters et al, 1999). The cost reductions of product management as well as cheaper and flexible of data exchange and enhancement of data standardization are the impact of IT adoption mechanism in market environment and o rganization management (Malone et al, 1987). The adoption of web based tools could enhance the integration such as EDI and as impact of product complexity (Garcia-Dastugue Lambert, 2003). The standardization and behavioral formalization such as tasks repetitiveness and recognizability was influences by the adoption of ICT (Vacca, 1990 Lomi, 1991 Lorenzoni, 1992). The standardization of SC players in coordinating and performing activities are the affects of ICT (Becker, 2004). The change and variability sourcing are the improvisational aspect of routine which is including tacit knowledge, incorporate operative and applicatory capabilities (Pentland, 2003). Colombo et al (1997) stated that the transparency of process is the free information and knowledge sharing while Winter and Taylor (1996) stated that the reduction of middle management direct communication as an enabling of ICT. On the other hand, technology innovativeness has been adopted in European markets to cater the demand of the consumers in many ways. There are many factors of adoption of technology innovativeness to serve the markets in Central and Eastern European nations. Researchers have investigated and identify the factors of commercialization innovativeness to explain the relationship of Internet adoption contributes to commercial in Ukraine and Austria. According to Dickerson and Gentry (1983), a new innovative service firm must offer increased functional performance than its predecessor can be defined as relative advantage. The primary measurement of relative advantage is assessing an innovations superiority in terms of overall convenience (Polatoglu Ekin, 2001 Tan Teo, 2000). The degree to which an innovation is perceived as relatively difficult understands and use is the definition of complexity (Rogers Shoemaker, 1971). Tornaztky and Klein (1982) stated that the lower rate of adoption means the complex the innovation is. Rogers (1995) defined the compatibility as the degree to which an innovation is perceived as consistent with existing values, past experiences, and the needs of potential adopters. De Ruyter et al (2001) also stated that compatibility is consistent with existing consumer affect, cognition, and behavior. Some researchers also found that consumer perceived risk post as important factors to the ICT adoption (Eastlick Lotz, 1999 Hansen, 2005 Polatoglu Ekin, 2001 Tan Teo, 2000). Relative Advantage Rogers (1995) defined relative advantage as the degree to which an innovation is seen as superior to existing practice. In the competition context, there is another definition for seeing innovation as superior to existing practice. According to Day (1984) and Porter (1987), the competitive advantage can be seen as the objective of the strategy and the result of the competitive advantage is superior performance. The derivations of competitive advantage are from numerous

Use of the Single Effect in A Cask of Amontillado Essay -- Cask Amonti

Use of the Single Effect in A Cask of Amontillado Edgar Allan Poe's "A Cask of Amontillado" is perhaps the most famous tale of terror ever written. Montresor, the story's narrator, leads the reader through his revenge on Fortunato. Montresor entices Fortunato into the dark recesses of the family catacombs with the promise of a very fine wine. At the climax of the story, Montresor shackles Fortunato to a wall and seals him away forever behind brick and mortar. In all of Poe's short stories he attempts to convey "a certain unique or single effect." "A Cask of Amontillado" expresses its dark view of human intention by using elements of irony, foreshadowing, and metaphor. The first person point of view also lends itself to an exploration of the inner secrets of Montresor. The major theme in the story is the deep hatred buried within the outwardly congenial Montresor. This makes it vital that the story be told with Montresor's thoughts known to the reader. The tale simply would not work if it were told from Fortunato's point of view, or from a dramatic/objective angle. An omniscient view would function, but by knowing only Montresor's thoughts the reader develops a trust in him, and this causes the story's theme to have a more personal effect on the reader. "A Cask of Amontillado" is replete with ironic statements and situations. Fortunato's very name is ironic given his horrific fate. At the beginning of the story, when Montresor divulges his theories on proper revenge, he says, "A wrong is unredressed when retibution overtakes its redresser." This is ironic (and a bit amusing) as Montresor is utterly consumed by his hatred of Fortunato. Then, during their descent into the catacombs, Montresor tries several times to con... ...ontresor's sociable facade, then the catacombs below symbolize the hate within him. Poe gives explicit descriptions fo the foul caverns. They are "insufferably damp . . . encrusted with nitre." The "founess of the air" nearly extinguishes their torches. Poe describes the "white web-work which gleams from these cavern walls." Clearly Poe's desired efect is to expose the evil that consumes from within. Each of the literary devices used in "A Cask of Amontillado" serves to reinforce Poe's single effect. As Poe himself says in "The Importance of the Single Effect in a Prose Tale," an author "invents such incidents--he then combines such events as may best aid him in establishing this preconceived effect." The use of the first person perspective along with some irony, foreshadowing, and metaphor aid the delivery of Poe's single effect in "A Cask of Amontillado."

Critically assess porter’s contribution to strategic thinking

Henry Mintzberg, Abraham Maslow and Michael Porter are renowned gurus whose hard works have left a footprint on management. Some of their works has helped in explaining the success and failure of big businesses over the past few decades and question marks have been raised in recent years if their work can still be applied to our present environment considering the rapid rise in globalisation and technological innovations. Few of the works done by these management experts have been on significant topics such as leadership, strategy and motivation, but this essay will focus on the effort of Porter in elucidating how businesses can gain competitive advantage in our growing competitive environment. The essay aims to assess Porter's contribution to the way in which people in an organization think about, assess, view, and create the future for themselves and their associates. However, given the space available the essay will only take a detailed look at the most criticised work of Porter and only few of his other works will be described. This essay will be based on previous researches by academics and strategists, and all information should not be judged as accurate but as a springboard since they are mostly based on historical theories. In order to get a grip of the essay; it is necessary to highlight the key words related to the topic of the essay as any precise delusion can de delusive. To start with, Wit and Meyer (2002) defined strategy in terms of organisational objective as a course of action for achieving an organization's purpose. For Kay (1996), strategy is the match between the organisation's internal capabilities and its external relationships, describing ‘how it responds to its suppliers, its customers, its competitors, and the social and economic within which it operates' (cited in Boddy, 2002 page 165). Both definitions are acceptable but assessing various strategies is the theme of the essay that is why a well defined structure of the essay is required. The first part will introduce Porter's works, the major assumptions of five forces analysis and Resource Based View. The second part will detail the fundamental differences between Porter's work and recent works such as RBV before highlighting key areas of debate principally those presented by D'Aveni, Hamel and Downes. The third part will give a brief evaluation on how Porter's work has developed our understanding of Strategy which will help develop a conclusion to the essay. From the eighties, Porter has developed a number of models for businesses on how to gain competitive advantage. Porter developed models such as three generic strategies, five forces analysis, Porter's diamond and value chain. In his three generic strategies model, Porter (1980b, 1985) identified two basic types of competitive advantage namely low cost or differentiation (cited in Wit & Meyer, 2002 page 350). He developed a third generic strategy from this called focus and proposed that an organization that hopes to achieve a sustainable competitive advantage must implement one of the three strategies. This is not the first and the very last of Porter's works and another model he developed was value chain analysis (1985) where Porter argued that it is necessary to examine activities separately in order to identify sources of competitive advantage (Boddy 2002, page 166-167). The value chain provides a way to identify a firm's sources of differentiation where it results from actual uniqueness in creating buyer value and from the ability to signal that value so that buyers perceive it (Toby Harfield, Strategic Management and Michael Porter: a postmodern reading). However, it is five forces analysis that has attracted the most number of criticisms. The model, developed by Michael E. Porter in his book â€Å"Competitive Strategy: Techniques for Analyzing Industries and Competitors† in 1980 (www3) pointed out that the state of competition in an industry is determined not only by the existence of competitors but also by the strength of buyers (customers) and suppliers, by the existence of substitute products or services and by the ability of new competitors to enter the industry which he collectively referred to Porter's five forces. However, he argued that whatever the collective strength, the corporate strategist's goal is to find a position in the industry where his or her company can best defend itself against these forces or can influence them in his favour (Mintzberg et al, pg 61). Thorelli 1977; Masson & Quall 1976 explained that forces mentioned above determine the conduct of firms, which in turn determines firm performance (Toby Harfield, Strategic Management and Michael Porter: a postmodern reading). Although the five forces analysis has become an important device for analyzing strategy the vast number of criticisms received consequently led to the development of a different approach called the Resource Based View (RBV). RBV, which has received the highest number of plaudit since the evolution of Porter's work was first spotted in Wernerfelt's article in 1984 before further development by Rumelt 1984, Barney (1986a; 1986b; 1988; 1991) (power point). RBV explains how a company's resources drive its performance in a dynamic competitive environment (David J. Collis et al, 1995, pg 118-128). The idea behind the development of RBV is to state the importance of resources to gaining competitive advantage over rivals where resources are heterogeneous in nature. In clarifying the prerequisite of resources Barney (1991) explained that a firm resource must be valuable, rare, and imperfectly imitable and substitutable in order to be source of a sustained competitive advantage (cited in Henderson and Mitchell, 1997). However, both frameworks have received appraisals but conflicting assumptions have been made by both theories which further developed more theoretical views. Porter 1980 assumes that understanding the external environment and decision making (or â€Å"moves†) according to the five forces is the primary role of strategy, thus opposing the argument of Barney 1986a who argued that analyzing internal skills and capabilities produces more accurate information on the potential value of strategic resources than does environmental analysis (www2). Barney's argument wasn't wholly accepted by Priem and Butler (2001 a & b) but argued that Barney's (1991) statement â€Å"if a resource is valuable and rare, then it can be source of competitive advantage† is necessarily true if the concepts ‘valuable' and ‘competitive advantage' are defined in the same terms (cited in Henderson and Mitchell, 1997). It is obvious from this point that Porter's assumptions have developed other strategist notions which are cited further. Another underlying assumption made by Porter is the homogeneity of firms which revealed that all firms have the same ability to implement the right strategy, which contradicts the basic premise of the RBV that all firms are different and consequently do not have the same ability to implement a given strategy (www1). Even though both theories have been applauded, theorists have not been totally overwhelmed by the five forces analysis and RBV; different strategies are still in constant development which they deem useful for our current environment. D'Aveni (1995) in his article â€Å"Coping with hypercompetition† claimed that no organization can build a competitive advantage that is sustainable in our dynamic environment as any advantage gained is only temporary, therefore companies must actively work to disrupt their own advantages and the advantages of competitors by employing a new 7S's framework. IBM is an example mentioned to have suffered from ignoring this approach. Firstly, this view opposes that of Porter and RBV as its strategy does not believe in a sustainable competitive advantage. Secondly, it can be deduced from D'Aveni's article that Porter's model assumes a relatively static market structure (Porters five forces article www3) by saying that the forces mentioned by Porter such as buyer and supplier power (Five forces analysis) that raises barrier to entry and leadership in price and quality (three generic strategies) are not enough to guarantee success. Downes (2001) saw a similar argument in his article â€Å"Beyond Porter† where he quoted that â€Å"Porters theories base on the economic situation in the eighties and the period was characterised by strong competition, cyclical developments and relatively stable market structures†. He condemned the view made by Porter that competitive advantages develop from strengthening the own position within the five forces framework and stated that three new forces namely digitalization, globalization and deregulation should be taken into context has the main driver for change today is technology. Hamel (1996) also conducted a work on strategy in an article called â€Å"Strategy as Revolution† where he categorised companies based on their successes into rule makers, rule takers and rule breakers. Logically, IBM whose strategy was also questioned by Downes (2001) was tagged as a rule maker because they have shaped their industry but subsequently failed. Tagged with rule breakers (the industry revolutionaries) is Dell Computer whose intent is to overturn the industrial order with the support of the crumbling oligarchy under the weight of deregulation, technological upheaval, globalization and social change. It is evident that Porter's five forces analysis is extremely influential in the field of strategic management as it has developed other strategic views and further improved our understanding of strategy. Porter's work has been the basis for recent strategic notions and his work has received more criticism than RBV which followed suit. Referring back to the question, Porter has developed numerous strategic frameworks with the most criticised work being the five forces analysis which has the most impact on strategic thinking. His work mystified many strategists because of the one-sided approach of the model where it made certain assumptions such as external environment is the primary role of strategy, homogeneity of firms and market structures are relatively stable. These assumptions led to the development of RBV whose main unit of analysis was the internal environment. RBV claimed that the key to sustaining competitive advantage is to have resources which are valuable, rare, imperfectly imitable and substitutable. Briem and Butler debated this approach where they said it is the way the concept are defined that determines if it is a source of competitive advantage. Other strategists were not left in the cold and they voiced out their criticisms of Porter's work. D'Aveni stated that there is no sustainable competitive advantage and market structures are dynamic. Downes claimed that three new forces namely digitalization, globalization and deregulation should be taken into context has the main driver for change today is technology and not just the forces mentioned by Porter. Lastly, Hamel in his article explained that companies can either be a rule taker, maker or breaker. In order to give a valid conclusion to the essay, it is important to reconsider the definition made by Kay (1996) where strategy definition was given has the match between the organisation's internal capabilities and its external relationships. It would be correct to state that a successful strategy will take both the internal and external environment into consideration when developing its strategy. It is obvious that neither the five forces analysis nor the RBV has done so in this case; none of the theories can be considered capable of achieving competitive advantage but will only be valuable if both approaches are combined. Based on the level of knowledge of this essay it would be interesting to see a strategist which will develop a strategy that will link the internal resources with the external environment.

Concepts of Social Responsibility Essay

Business organizations today are socially and ethically responsible for doing the right thing, exercising good judgment in their business activities with employees, stakeholders, customers and the community. Business organizations emphasis should not only be on profits, but also on how business decisions impact society. Company Q is a small grocery store chain located in a major metropolitan area. This company will be evaluated on its attitude towards social responsibility. Also, recommendations will be given in three areas indicating how the company could improve its position regarding social responsibility. First of all, Company Q’s decision to close stores in high crime areas will have an adverse effect on the communities where they conduct business, leading to disruption and hardship in the lives of many. This definitely demonstrates an irresponsible attitude toward social responsibility. In terms of social responsibility, Company Q could help enrich the lives of families in need by supporting local community centers. Community centers play an important role in addressing the comprehensive needs of individuals and families by providing a wide range of resources that are most needed. Moreover, a responsible business could initiate programs to help disadvantaged youths and adults in the community, build employable works skills and connect them to career opportunities. Without question, the more job opportunities and employability of the citizens in that community the lower the crime rate would be. Finally, if Company Q is to be socially responsible, it must not only be committed to making a profit, but also to the economic development of the community where it does business (Ravindran, N. 2008). Secondarily, Company Q’s reluctance to offer health conscience customers a wide range of organic and healthy foods because the products are considered high margin items, is socially irresponsible and bad for business. A growing number of consumers favor organic foods, claiming that it tastes better and is healthier. Why organic? Organic foods grown naturally in well-balanced soils, ripened by the sun are healthier and tastier than products with synthetic chemicals and growth hormones. Moreover, the growing number of conscience consumers was highlighted in a recent Bursen-Marsteller report; â€Å"people will more likely choose a product that supports a social cause when choosing between otherwise similar products† (Penn, Schoen & Berland, 2010). These average consumers daily decisions are slowly but surely being influenced by social concern and responsibility. Finally, the critical issue for Company Q is the social responsibility to its customers, who looks to business to provide them with satisfying, safe products and respect their rights as customer. Lastly, Company Q decides to throw away food products, instead of donating it to the local food bank. Sadly, this behavior demonstrates a concern for profits before people attitude, which is socially irresponsible. Businesses can no longer ignore social issues because a business is a part of our society. For Company Q to become more socially responsible its sole objective must not only be to make a profit. But include concerns and responsibilities to the general welfare of the communities and societies in which they operate. Moreover, businesses should simply want to make their communities better places for everyone to live and work. The most common way that businesses exercise their community responsibility is through donations to local and national charitable organizations. Doing simple things like contributing to local food banks, may not be enough to change the world for everyone, but does alleviate some of social ills that abound in local communities.

Alchemy in the Middle Ages

Alchemy in the Middle Ages Alchemy in the Middle Ages was a mixture of science, philosophy, and mysticism. Far from operating within the modern definition of a scientific discipline, medieval alchemists approached their craft with a holistic attitude; they believed that purity of mind, body, and spirit was necessary to pursue the alchemical quest successfully. At the heart of medieval alchemy was the idea that all matter was composed of four elements: earth, air, fire, and water. With the right combination of elements, it was theorized, any substance on earth might be formed. This included precious metals as well as elixirs to cure disease and prolong life. Alchemists believed that the transmutation of one substance into another was possible; thus we have the clichà © of medieval alchemists seeking to turn lead into gold. Medieval alchemy was just as much art as science, and practitioners preserved their secrets with an obfuscating system of symbols and mysterious names for the materials they studied. Origins and History of Alchemy Alchemy originated in ancient times, evolving independently in China, India, and Greece. In all these areas the practice ultimately degenerated into superstition, but it migrated to Egypt and survived as a scholarly discipline. In medieval Europe, it was revived when 12th-century scholars translated Arabic works into Latin. The rediscovered writings of Aristotle also played a role. By the end of the 13th century, it was discussed seriously by leading philosophers, scientists, and theologians. The Goals of Medieval Alchemists To discover the relationship of man to the cosmos and take advantage of that relationship to the betterment of mankind.To find the philosophers stone, an elusive substance that was believed to make possible the creation of an elixir of immortality and the transmutation of common substances into gold.In the later Middle Ages, to use alchemy as a tool in the advancement of medicine (as Paracelsus did). Achievements  of Alchemists in the Middle Ages Medieval alchemists produced hydrochloric acid, nitric acid, potash, and sodium carbonate.They were able to identify the elements arsenic, antimony, and bismuth.Through their experiments, medieval alchemists invented and developed laboratory devices and procedures that are, in modified form, still used today.The practice of alchemy laid the foundation for the development of chemistry as a scientific discipline. Disreputable Associations of Alchemy Due to its pre-Christian origins and the secrecy in which its practitioners carried out their studies, alchemy was viewed by the Catholic Church with suspicion and ultimately condemned.Alchemy was never taught in Universities but was instead transmitted from teacher to apprentice or student clandestinely.Alchemy attracted followers of the occult, with which it is still associated today.There was no shortage of charlatans who used the trappings of alchemy to defraud. Notable Medieval Alchemists Thomas Aquinas was an eminent theologian who was permitted to study alchemy before it was condemned by the Church.Roger Bacon was the first European to describe the process for making gunpowder.Paracelsus used his understanding of chemical processes to advance the science of medicine. Sources and Suggested Reading   Alchemy: Science of the Cosmos, Science of the Soul  by Titus Burckhardt; translated by William Stoddart Alchemy: The Secret Art  by Stanislas Klossowski De Rola Alchemy: the medieval alchemists and their royal art  by Johannes Fabricius The Philosophers Stone: A Quest for the Secrets of Alchemy  by Peter Marshall

Critique of Hair essays

Critique of Hair essays The production of Hair was a melodrama that focused on the youth of the 1960s, and the tribulations that young people faced. It dealt with what the hippie generation valued most, and also what they feared. The episodic plot chronicled the life of Claude, a young man who was drafted into the Vietnam War, and the tribe, his friends. Although there was not a set story line, the play was a truthful portrayal of the 1960s culture. Stephen F. Austins production of this famous off Broadway play was well done, and the stage effects only added more imagery to the already graphic portrayal of this award winning play. When the production of Hair opened in 1968 it opened the doors and began a revolution on Broadway. It was the first musical to contain what is now known as rock music. It also dealt with critical situations such as sex, drugs, and the Vietnam War. It was seen as very risqu for its time. It contained many racial and homosexual references, and focused on the action of free-love. Now as our society has become more desensitized, the play is easily accepted most everywhere. The cast of Hair did an outstanding job of accurately describing the culture of the 1960s. Their choice of costumes was superior. Every member of the tribe was decked out in flashy colors and hippie attire. Even the actors hair was done up in retro styles. The cast also made good use of the set with picket signs, incense, and many other props in portraying the youth of the 1960s. Although this play was set over four decades ago, it is still identifiable. We as young adults in our society still struggle with our elders in pursuit of freedom to do what we desire. Adults in our society still believe that teenagers our not responsible enough to handle the consequences of the decisions they choose to make, so they then decide for them, much like in the play. Claudes parents ...

Helium Facts (Atomic Number 2 or He)

Helium Facts (Atomic Number 2 or He) Helium is atomic number 2 on the periodic table, with the element symbol He. It is a colorless, flavorless gas, best known for its use in filling floating balloons. Here is a collection of facts about this lightweight, interesting element: Helium Element Facts Helium Atomic Number: 2 Helium Symbol: He Helium Atomic Weight: 4.002602(2) Helium Discovery: Janssen, 1868, some sources say Sir William Ramsey, Nils Langet, P.T. Cleve 1895 Helium Electron Configuration: 1s2 Word Origin: Greek: helios, sun. Helium was first detected as a new spectral line during a solar eclipse, so it is named for the Greek Titan of the Sun. Isotopes: 9 isotopes of helium are known. Only two isotopes are stable: helium-3 and helium-4. While the isotopic abundance of helium varies depending on geographical location and source, 4He accounts for nearly all of the natural helium. Properties: Helium is a very light, inert, colorless gas. Helium has the lowest melting point of any element. It is the only liquid that cannot be solidified by lowering the temperature. It remains liquid down to absolute zero at ordinary pressures, but can be solidified by increasing the pressure. The specific heat of helium gas is unusually high. The density of helium vapor at the normal boiling point is also very high, with the vapor expanding greatly when heated to room temperature. Although helium normally has a valence of zero, it has a weak tendency to combine with certain other elements. Uses: Helium is widely used in cryogenic research because its boiling point is near absolute zero. It is used in the study of superconductivity, as an inert gas shield for arc welding, as a protective gas in growing silicon and germanium crystals and producing titanium and zirconium, for pressuring liquid fuel rockets, for use in magnetic resonance imaging (MRI), as a cooling medium for nuclear reactors, and as a gas for supersonic wind tunnels. A mixture of helium and oxygen is used as an artificial atmosphere for divers and others working under pressure. Helium is used for filling balloons and blimps. Sources: Except for hydrogen, helium is the most abundant element in the universe. It is an important component in the proton-proton reaction and the carbon cycle, which account for the energy of the sun and stars. Helium is extracted from natural gas. In fact, all natural gas contains at least trace quantities of helium. The fusion of hydrogen into helium is the sources of a hydrogen bombs energy. Helium is a disintegration product of radioactive substances, so it is found in ores of uranium, radium, and other elements. Most of Earths helium dates back to the planets formation, although a small amount falls to Earth within cosmic dust and some is produced via beta decay of tritium. Health Effects: Helium serves no biological function. Trace amounts of the element are found in human blood. While helium is considered to be non-toxic, it displaces oxygen so inhaling it can lead to hypoxia or asphyxiation. Fatalities from inhaling helium are rare. Liquid helium is a cryogenic liquid, so risks include frostbite from exposure and explosion from expansion if the liquid is stored in a sealed container. The mixture of helium and oxygen (heliox) can cause high-pressure nervous syndrome, however the addition of nitrogen can remedy the issue. Compounds: Because a helium atom has a valence of zero, it has extremely low chemical reactivity. However, unstable compounds called excimers can be formed when electricity is applied to the gas. HeH is stable in its ground state, but it is the strongest known Bronsted acid, capable of protonating any species it encounters. Van der Waals compounds form with cryogenic helium gas, such as LiHe. Element Classification: Noble Gas or Inert Gas Usual Phase: gas Density (g/cc): 0.1786 g/L (0 Â °C, 101.325 kPa) Liquid Density (g/cc): 0.125 g/mL (at its boiling point) Melting Point (Â °K): 0.95 Boiling Point (Â °K): 4.216 Critical Point: 5.19 K, 0.227 MPa Atomic Volume (cc/mol): 31.8 Ionic Radius: 93 Specific Heat (20Â °C J/g mol): 5.188 Heat of Fusion: 0.0138 kJ/mol Evaporation Heat (kJ/mol): 0.08 First Ionizing Energy (kJ/mol): 2361.3 Lattice Structure: Hexagonal Lattice Constant (Ã…): 3.570 Lattice C/A Ratio: 1.633 Crystal Structure: close-packed hexagonal Magnetic Ordering: diamagnetic CAS registry number: 7440-59-7 Quiz: Ready to test your helium facts knowledge? Take the Helium Facts Quiz. References Meija, J.; et al. (2016). Atomic weights of the elements 2013 (IUPAC Technical Report). Pure and Applied Chemistry. 88 (3): 265–91. doi:10.1515/pac-2015-0305Shuen-Chen Hwang, Robert D. Lein, Daniel A. Morgan (2005). Noble Gases. Kirk Othmer Encyclopedia of Chemical Technology. Wiley. pp. 343–383. doi:10.1002/0471238961.0701190508230114.a01.Weast, Robert (1984). CRC, Handbook of Chemistry and Physics. Boca Raton, Florida: Chemical Rubber Company Publishing. pp. E110. ISBN 0-8493-0464-4. Return to the Periodic Table

Term paper that present the knowledge and depth you obtained in this Essay

Term paper that present the knowledge and depth you obtained in this class. The paper can be from any topic discussed or not in - Essay Example Definition Cushing’s Syndrome is a disorder involving the hormones and is particularly caused by an abnormal increase in the amount of the hormone cortisol or other glucocorticoid hormones in the blood (Nieman et al., 2008). In the case of an overactive immune system, glucocorticoids usually turn down the inflammation system as a sort of negative feedback mechanism. However, if there is too much production of glucocorticoids, especially cortisol, in the blood, then the entire immune system might be turned down, thus leading to a variety of numerous physiological disturbances known as Cushing’s syndrome (Nieman et al., 2008). Causes The main cause of Cushing’s syndrome is the overproduction of adenocorticotropic hormone, or ACTH, by the pituitary gland, which is usually known as Cushing’s Disease. Another cause is an adrenal gland tumor that usually occurs among women over 40 years of age. A third cause is a tumor somewhere in the body which either produces too much cortisol or causes its production, such as tumors in the pancreas, lungs or thyroid that oversecrete ACTH (Nieman et al., 2008). ... However, the most initial step for Cushing’s syndrome is the ACTH stimulating the adrenal glands for the production of cortisol (Blevins, 2002). Symptoms Cushing’s Syndrome is characterized by â€Å"reddish purple striae, plethora, proximal muscle weakness, bruising with no obvious trauma, as well as unexplained osteoporosis† (Nieman et al., 2008). Other symptoms of the disease include â€Å"obesity, depression, diabetes, hypertension, or menstrual irregularity† (Nieman et al., 2008). If Cushing’s Syndrome affects the higher brain centers in the case of complications, it may cause anxiety disorder, obsessive-compulsive disorder, depression, alcoholism and diabetes. Other more noticeable symptoms include obesity of the upper torso coupled with disproportionately thin limbs, a round and red face with characterized fullness, and acne or certain other skin infections. The less common symptoms include a buffalo hump, backache, tenderness and pain of the bones, rib and spine fractures, weak muscles, excessive hair growth in the woman, impotence and lack of sexual desire in men, and certain headache, tiredness and feelings of thirst and hunger (Nieman et al., 2008). Treatment The treatment of choice is surgical removal of the tumor. This should be followed by treatment with hydrocortisone or hydrocortisone replacement therapy because cortisol levels will go down fast once the tumor is removed. Moreover, in the case of patients with malignant adrenal cortical neoplasm, the treatment of choice must be open adrenalectomy (Thomson et al., 2010). Through an MRI scan, cases of mediastinal masses that intertwine with the heart nerves must be done with extreme care so as not to injure such a delicate organ. Moreover, CT-guided coaxial core biopsy to investigate whether it is

HP at a Strategic Crossroad Assignment Example | Topics and Well Written Essays - 3000 words

HP at a Strategic Crossroad - Assignment Example But, the company was not able to take up the challenge thrown up by the rapid advancements in technologies and some of the competitors. Fiorina had proved herself at AT&T by bringing about a successful spin-off at its equipment and research branch. With such a legacy she joined HP and started her mission to refurbish the image of HP and implementing the requisite changes. For introducing changes in an organization and its functioning, the manager is supposed to take into confidence the team leaders, departmental heads and other support staff. The CEO will be able to plan and execute the strategies effectively if she had fullest support from other managers and the governing board. In this case it appears that Carleton Fiorina didn't believe in collaborative or democratic type of functioning. Instead she took pride in imposing her decision and carrying through her plan irrespective of what others have to say on that particular decision. She gained notoriety for placing her interest ove r the interests of the organization. This is a serious shortcoming for being an able and acceptable leader. To manage an organization, the manager has to manage the human resources, the machinery and the strategies. The leader will be termed as successful, if she is able to take active cooperation of the human resources in managing the machinery and planning & executing the strategies. But in this case Fiorina resorted to 'ambush marketing' from the very beginning. Without caring for the tradition or conventions at HP, she started imposing her plans. It can very well be argued that in this era of cut-throat competition, an organization has to plan out its strategies according to the demand from market, but expecting the change to take place overnight, proves detrimental for the health of the organization. This is exactly what Fiorina did after joining HP. It is said that, companies and organizations are made for people and by the people, and obviously their effectiveness depends on the behavior and performance of the people running these companies. Howard Good (2006), the former president of Highland Central School Board in Highland, NY, says, "Being board president brings power and prestige, but you must inspire and help others to be successful". A team leader therefore plays the central role in making or breaking the team. It is the team leader who can synergize the efforts or just wither away the advantage, with his actions. A team leader is supposed to delegate the powers and responsibilities amongst his/ her team mates, inspire the team members by being an example and motivate his team with appropriate motivating factors. A leader can synergize the efforts by; Eliciting the contribution from all concerned Organizing the team members by assigning them the responsibilities, and Developing an information system for monitoring and coordination activities. It can very well be argued that HP had become a bureaucratic type of an organization and was on the verge of loosing the status of being a leader in innovation. World's first scientific calculator was given to the world by HP way back in 1967. The company has been a market leader in printing and imaging business solutions since 1985. But somehow the company could not keep pace with the changing technology and the competitors like IBM and Dell overtook it. The revenue figures started declining. A dynamic leader

Organizational Cultures Essay Example | Topics and Well Written Essays - 750 words

Organizational Cultures - Essay Example The significant aspect lies on the basis of these societal and industrial cultures bringing about an imperative basis for the organizational culture to exist in the most basic sense. One must understand that the organization cannot exist in seclusion and it has to remain in constant touch with the society in which it exists and the industry under which it finds competitors for its own selves and the strategic alliances, mergers and unities that form as a result of the same. (Deeks, 1993) Now the foundation lies merely on the manner under which the strategic and the tactical moves are adopted by this organization under study and how best it delivers towards the needs of the stakeholders, customers and employees working for the benefit of the organization itself, both from the short term perspective as well as an investment in the long run. Societal and industrial cultures change with the passage of time and since their change is somewhat of a certainty, one can easily predict the impact the same has on the organizational cultural regimes. This is very true in the case of the society being an extremist one, which does not encourage freedom of speech and expression. What this does is to limit the creative talent of the inhabitants of the society and thus shelve them in a corner for as long as it could. This marks the basis of the changing industrial culture which gives out a strong meaning of seclusion and quietness in the related realms. The message that goes out to the cultural basis of the organization under study is that it has to confine its meaning and value deliverance in accordance with the industry which up till now has listened to what the society had to speak for its own self. (Collins, 1998) The result is self-evident. There have been changes made in the wake of the organizational culture which has taken its basis from the industrial modifications coming directly from the society

Was Plutarco really a person as history describes or a person Almada Essay

Was Plutarco really a person as history describes or a person Almada depicted in her documentary, El General Did Almada personalize to examine her controversial ancestor, Plutarco Calles - Essay Example The contrast lies in the sense that while history portrays him as the Puppet President, the one who has Catholic blood on his hands, the one who deceived many to make his way through, on the other hand, Almada portrays him to be reasonable, logical and nonetheless ‘humane’ in contrast to popular opinion. One will have to explore facts and indulge in an in-depth study in this context to be fair in an analysis, and to explore as to which side of the story holds more truthful value. The paper aims at exploring the mainstream history books popular not just in Mexico but rather in the world. The study will focus on how Plutarco is portrayed and perceived in the world, also how the opinion has been altered. Furthermore, the opinions will be contrasted with data from the documentary produced by Almada who is Calles` great grand-daughter. This data will reflect how a daughter perceived her father, i.e. the firsthand account of someone who was directly associated with the much co ntroversial figure. Thus, based on the analysis, contrasts would be made to predicate how history is de-shaped and de-framed by the historians. Calles is essentially portrayed as someone who was deeply indulged in a power struggle throughout his life, which poses certain paradoxes. He is perceived as a rather controversial yet revolutionary figure, a President who failed to deliver his promises, deported priests on a massive scale, destroyed covenants, closed Catholic schools while he was facing a huge scaled rebellion. However, he sent his daughter to the United States, and that too to study at a Catholic school. This poses a question-mark over the issue i.e. if he hated Catholics such deeply, why would he want his daughter to be indulged in an education purely based on those values he abhorred. Historically, Calles was many things, portrayed by mainstream history, i.e. a school teacher, a Guaymas native, someone who went as far as to become

Discuss the role of the Emergency Manager and the Fundamentals of Essay - 1

Discuss the role of the Emergency Manager and the Fundamentals of Emergency Management - Essay Example In other words, disaster mitigation and risk-reduction measures are needed for a good response. However, one must realize (and be realistic enough) that most disasters cannot be seen in advance or forecasted with any degree of certainty. From an emergency response perspective, it can be said there are no real measures of success (if based on the number of lives saved or in the minimization of damage); but one should always look at each disaster as something unique that cannot be neatly categorized. What is meant here is that disasters are chaotic events and luck is a big part of the outcome. A disaster is not a linear-progression event that can predicted with high degree of precision and therefore is hard for anyone to control completely. Moreover, disasters can easily deteriorate into a catastrophe if the wrong response is employed (like in Japan). This portion talks about the role of the emergency manager and the fundamentals of any emergency management program. It is vital to know these two things for any disaster response to be effective in terms of limiting the damage, saving lives and in the recovery efforts after. Role of Emergency Manager – the primary role of the emergency manager is to prepare a populace for a disaster, whether man-made or natural disasters. In this regard, the manager must implement a disaster preparedness plan to help the people prepare, devise an early warning sign or system to notify people in advance (this is also to prevent panic resulting from rumors and the usual miscommunication in an emergency situation). For this, the manager must put into place a crisis communications plan as a preventive measure and at the same as a pro-active orientation. This team should be composed of the highest local official (or a designated alternate) who can make the decisions, members of the team who can be contacted and authorized to disseminate vital information and also designate a chief of an Incident Command System (ICS) put

Paul Laurence Dunbar's novel The Sport of the Gods Essay

Paul Laurence Dunbar's novel The Sport of the Gods - Essay Example Yet as Fannie fears, " there could not be so many people without a deal of wickedness." (49). This paper will analyze each family member's slow degradation, by means provided by the city, evils which are commonplace to metro regions, but natives grow defense against while newcomers quickly become ensnared. Joe proves to be the most easily susceptible to the new found charms of the city. In his hometown, before the scandal, his position as a barber to white men had caused him to become haughty in demeanor. Humbled first in his hometown, the exposure to metropolitan ways again continue his consternation. He is envious of the well dressed young men of leisure he sees everywhere, and uses Mr. Thomas to gain access to them but only after Joe has become employed and has money to spend. Joe soon finds himself with the mistaken illusion of satisfaction: he has friends (for whom he buys much alcohol) and has become involved with a starlet, Ms. Hattie Sterling (who likewise drinks heavily). Through the attainment of these dreams, Joe achieves a level of social acceptance and a semi-long term relationship. He also becomes an alcoholic, which causes him to lavish all of his funds on acquaintances and none on his family, simultaneously going to work less and less. When he confesses to Sadness his father's (wrongful) imprisonment, Sadness rattles off various people's histories. Sadness is trying to help Joe by first revealing how much worse off others have it, but also trying to insinuate that Joe needs to depend less on others. When Joe claims that Sadness' words have helped, Sadness angrily declares "You lie. I haven't; I was only fool enough to try." (85) Joe instead takes the advice to be an invitation to a society of leisurely leeches. His drinking becomes so pronounced that Hattie break up with him several times over it. Ultimately, drink and desperation result in Joe murdering Hattie and receiving a life sentence in prison. Thus, Joe's initial fleeing of the stigma attached to his father's supposed crimes have caused him to emulate a self-defeating strata of society; in distancing himself from his father's alleged crime, Joe has unfortunately perpetuated a stereotype of a violent Southern Negro. Mr. Thomas first interest had been to win over Kitty's affections; it was only failing this that he befriended Joe in order to get closer to Kitty. In a way, Mr. Thomas does aid Kitty, but through a circuitous route. Kitty in general adheres to the moral guidelines she has followed all of her life. Her only weakness with metropolitan life is the theatre, which Hattie is able to provide access to through a Chorus Line contact. Kitty quickly gives up singing her traditional songs in favor of what are referred to as 'coon songs'. Her voice insures her quick rise from chorus to headlining, yet she develops a necessary callousness to go with it. As Joe's fortunes declined and hers rose, Joe frequently came to 'touch' Kitty for cash which eventually resulted in them no longer being on speaking terms. When Joe was arrested and convicted, Kitty "felt the shame of it keenly, and some of the grief." (123)This stemmed in part from earnest regret and in part of the de ja v experience from her f ather's incarceration: people couldn't help but connect her name to her brother's. Fearing an assumption

Discuss the role of the Emergency Manager and the Fundamentals of Essay - 1

Discuss the role of the Emergency Manager and the Fundamentals of Emergency Management - Essay Example In other words, disaster mitigation and risk-reduction measures are needed for a good response. However, one must realize (and be realistic enough) that most disasters cannot be seen in advance or forecasted with any degree of certainty. From an emergency response perspective, it can be said there are no real measures of success (if based on the number of lives saved or in the minimization of damage); but one should always look at each disaster as something unique that cannot be neatly categorized. What is meant here is that disasters are chaotic events and luck is a big part of the outcome. A disaster is not a linear-progression event that can predicted with high degree of precision and therefore is hard for anyone to control completely. Moreover, disasters can easily deteriorate into a catastrophe if the wrong response is employed (like in Japan). This portion talks about the role of the emergency manager and the fundamentals of any emergency management program. It is vital to know these two things for any disaster response to be effective in terms of limiting the damage, saving lives and in the recovery efforts after. Role of Emergency Manager – the primary role of the emergency manager is to prepare a populace for a disaster, whether man-made or natural disasters. In this regard, the manager must implement a disaster preparedness plan to help the people prepare, devise an early warning sign or system to notify people in advance (this is also to prevent panic resulting from rumors and the usual miscommunication in an emergency situation). For this, the manager must put into place a crisis communications plan as a preventive measure and at the same as a pro-active orientation. This team should be composed of the highest local official (or a designated alternate) who can make the decisions, members of the team who can be contacted and authorized to disseminate vital information and also designate a chief of an Incident Command System (ICS) put

Hamlet and death Essay Example | Topics and Well Written Essays - 250 words - 1

Hamlet and death - Essay Example Disputes among political power houses and rival gangs are also highlighted by the speaker. This is a community just like any other and there were interest from rival groups as to who were superior so as to gain control of the community. Cultural Revolution and resumption of Chinese and Japanese relation is heavily highlighted in the red sorghum novel. This was an attempt by their leaders to get the two groups together and leave harmoniously. The speaker uses a style written in first person characterized by briefness without any chronological order of events. The story was aimed at bringing people together after long fought battles which many people lost their lives and it came up with strategy of getting food, water, life among other basic things harmoniously (Moet all 90). Is a paly of Italian culture which is based on real life occurrence between an Italian rail road worker and anarchist Giuseppe pinelli who died after he was thrown at a police station in Milan police station after he had been accused of bombing a bank but he was later cleared of any wrong doing Unlike the red sorghum novel which is based on true story, this is fictional work created by the author. It starts with a police inspector interrogating a suspect in the first floor who was smarter and the officer could not find anything from him. A judge was brought and meeting scheduled in the fourth floor of the same building, with a journalist probing the incident in attendance. The play ends where the journalist leaves the room and maniac later escapes (Fo et al 2002 356). The two instances were among the leading drama in the world. Though the later were fictional occurrences, it was well done by the author and the play was later performed in various countries across the world. The former is work based on true story and it also attracts success wherever the novel was

Literature Review Breast Cancer Screening Health And Social Care Essay

Literature Review Breast Cancer Screening Health And Social Care Essay Journals and articles were searched from search engines like pubmed, scientific journals, Google, Google books, Google scholar, British libraries, Health educator recommendations, and science direct periodic journals from university library. The key words used in searching the documents were barriers of screening, ethnic minority women, breast cancer, promoting uptake of screening, promoting quality of breast cancer through health education, government policies. Demographic statistics, Census reports and population statistics are also included. A total of 39 papers were found through the search engines and the number of articles used in the project is narrowed down to 15 based upon relevance and importance. The methods used in the research articles include questionnaires, qualitative analysis, extensive literature search, cross sectional studies, observational studies, census reports, mortality reports, statistics, demographic reports and review papers. RESEARCH FINDINGS: All the fifteen articles were researched thoroughly to analyse the primary objectives, methods employed, results obtained and comments over the conclusions pertaining to subject of interest. All these are summarised in the table below: Author, Year, Location Title Method/Study Results Comments 1. AK Jain and J Serevitch 2004. The Nightingale Centre and Genesis Prevention Centre, UHSM NHS Foundation Trust, Manchester. Breast Cancer Screening- How do we communicate with women of South Asian origin? Questionnaires and structured letters listing the objectives of study were sent to office managers and directors of 99 breast screening units in UK requesting them the communication practice with south Asian women of Indian, Bangladeshi, srilankan and Pakistani origin. Communication was also requested with units of larger South Asian women population. 67 of 69 questionnaires were returned to the office with particulars of initial Breast screening invitation procedures across the south Asian women, Mammographic, recall and breast assessment information and means of communication with the south Asian women in local languages like Bengali, Hindi, Telugu, Tamil and Malayalam. The study reveals that many south Asian women dont get proper information on breast screening procedures and initiatives due to language and management barriers. Pictorial information and motivation in local languages is not given. Distribution of translated scriptures is poorly taken up. Conclusions of the research highlight the communication and financial barriers of the BSU. The recommendations of research include increased initiatives in local languages to the women who dont understand English and increase funding which enables them to improve patient facilities and screening uptake. 2. Scottish Intercollegiate Guidelines Network 2005 , NHS Scotland. Management of breast cancer in women-A national clinical guideline Statistics and Doctor recommendations were collected to design a framework on managing breast cancer in women. SIGN was prescribed as a collection of guidelines for managing breast cancer patients and it includes surgery, therapy and care. Treatment procedures like radiotherapy, systemic therapy and physiological care were prescribed as techniques of improving care. Recommendations of care and surgery were include for information. Additional initiatives were mentioned to improve screening uptake among minority women. 3. Jo Freeman Douglas Eadie 2007. ISM Institute for Social Marketing. Breakthrough Breast Cancer Awareness Campaign: ISM Literature Review Six data bases, grey literature and small archives of data were researched on existing data on awareness programmes, current knowledge and perception of ethnic minority women. The research revealed that limited or inaccurate knowledge and awareness on screening programmes to be the main cause of poor screening uptake. Gender, cultural differences were influential in predicting attendance at screening centers. Perceiving importance of screening was major approach to be addresses. Research shed light on the problem areas and risk factors associated with breast cancer screening. Study focuses on multi-strategy interventions like educational packages, Inter-personal support, use of alternative community channels like community groups and ethnic media, Local publicity events like road shows to increase awareness of self examination and screening. 4. A Szczepura 2005. Ethnic review, Postgrad Med Journal. Access to health care for ethnic minority populations Extensive literature search is performed to identify the care process and quality in ethic minority people. Challenges for clinicians, managers and policy makers in ensuring quality care are discussed. Literature search revealed the primary factors influencing quality to be population diversity, linguistic competence, cultural disparities and lack of orientation and training programs suitable for special needs. The research focuses on the case study of breast cancer screening through NHS and identifies four reasons fro failure which are lack of knowledge on self examination and screening among ethnic communities, language and cultural barriers, inaccurate register of screening, lack of references and recommendations by health care professionals. The study concludes with highlighting improvement by interventions to increase awareness, improving risk perception and improve breast cancer screening for minority women. 5. P.T. Straughan and A. Seow 2000. Social Science Medicine. Attitudes as barriers in breast screening: a prospective study among Singapore women A multistage project was conducted to promote better understanding of Mammographic techniques in Singapore women. The methods included phase-I qualitative analysis, phase-II cross-sectional survey and phase-III prospective study. Items on FATALISM index, BARRIER index and early cancer DETECT index were studied as a result of the methods. Apart from the index results, the other important factors influencing screening uptake include social and cultural factors with perception. 6. Abdullahi et al 2009. Public Health. Cervical screening: Perceptions and barriers to uptake among Somali women in Camden Qualitative study was performed on seven focus groups and eight in depth interviews. The study revealed that there was lack of understanding of risk factors and fatalistic attitudes. Culturally specific barriers like embarrassing situation and past experiences accounted for poor screening uptake. Language barriers and cultural factors account for first stage poor screening. Improvement of language and communication in local language along with continuous support would improve screening uptake .Oral information with explanation about risk factors and advantages of treatment would improve health condition. 7. Ala Szczepura 2003. Centre for Health Services Studies, University of Warwick, Coventry. Ethnicity: UK Colorectal Cancer Screening Pilot Final Report Colorectal cancer screening pilot tests are performed using records of Faecal Occult blood testing. The results focus on the disparities of treatment of cancer patients among the ethnic minority people. The screening uptake studies show the variation in high class areas and the ethnic minority even after equal awareness due to lack of initiation and courage among the ethnic minority. 8. Teresa et al 2007. Journal Of the national medical association. Breast Self Examination: Knowledge Attitudes and Performance Among Black Women A questionnaire was distributed to 180 black women, 18 years Of age and older in metropolitan areas through the church council developed by the authors. Another group comprises participants above 41 years. The survey explained that the frequency of breast self examination is associated with knowledge of self examination. Most of the respondents indicated to have practiced BSE from couple of years. 50% indicated to practice regularly and less than half sample had no knowledge on the practice of BSE. The research revealed that knowledge and practice of BSE is more in the educated class and older people with high income when compared to uneducated lower class women. The study also focussed on attitudinal and demographic variables pertaining to BSE. It also gave a note on confidence and social approval for BSE. 9. Chee et al 2003. BMC Womens Health. Factors related to the practice of breast self examination (BSE) and Pap smear screening among Malaysian women workers in selected electronics factories A cross sectional survey was conducted among women production workers from ten electronics factories. Self administered questionnaire was collected from 1, 720 women workers. Later statistical analysis was performed by bivariate and multivariate tests like chi square test, odds ratio and binomial regression. BSE rates were recorded as 24.4% a month and 18.4% for pap smear testing in period of three years. Women over 30 years and older, women with upper secondary education and above, answered the questionnaire on BSE correctly. Proportion of pap smear tests were recorded to be high in older married people bearing kids or couples on contraceptive pills and answered the questionnaires on pap smear tests. In comparison with national rates, screening practices were recorded as low in the Malaysian women. Health care factors, socio-demographic factors and education were related as barriers for screening. Educational and promotional strategies were directed for better screening rates among Malaysian women. 10. Cannas et al 2005. Survey methodology for public health researchers, Health education Research. Factors associated with Mammographic decisions of Chinese-Australian women Study involved research over sample of population suffering with breast cancer. 20 Chinese-Australian women were recruited for studies from different Chinese organizations like churches, community centres and clubs. Some of the participants discontinued due to discomfort in talking about the disease. Demographic data and open ended questions were used as a part of research An average of 8 informants among 20 participants has undergone Mammographic testing. Among the eight informants, 3 had it more than twice and the remaining four decided not to have any more. Among other informants who did not have Mammographic testing, 8 informants rejected Mammographic testing while the other four never heard about the term despite publicity. The study reveals that there are numerous factors responsible for poor screening uptake which includes organizational factors and influence of significant family members. The barriers were accounted to be fear of stigmatisation, fear of mammography and modesty. 11. Robb et al 2010. . J Med Screen, Pub med central. Ethnic disparities in knowledge of cancer screening programmes in the UK Cross sectional study and questionnaires were conducted using data from National health interview in 1998. The study resulted in enumerating foreign birth place and lack of adjustment to new culture as primary factors for poor screening among ethnic minority. The study revealed that foreign birth place and socioeconomic factors responsible for poor screening uptake. The study also revealed that foreign blacks are better in screening uptake than the Asians and Chinese. 12. Mark R D Johnson, May 2001. Mary Seacole Research Centre, De Montfort University Palliative Care, Cancer and Minority Ethnic Communities Census reports, hospital episode statistics data (HES), Health of Londoners project analysis, Patient records in hospitals and care centres. Palliative care defers from region to region and factors influencing difference were accounted as language barriers and lack of access and knowledge of palliative centres across the communities. The paper defines palliative care in terms of all types of cancer and highlights the maximum usage of this by the local people rather than the ethnic minority people due to lack of access. The paper calls for equality in treatment and increased awareness in relation to this. 13. Jamesetta Newland, Editors memo, The Nurse Practitioner. Breast Cancer Awareness More Than a Monthly Reminder The study is based on the data available in relation to Susan G. Komen Race for the Cure in developed countries to increase breast cancer awareness. The letter highlights the improvement of health care through awareness and availability of genetic testing protocol for breast cancer in ethnic minority populations. The study focuses on the attitude of breast cancer patients and the fear to reveal the disorder. Patient education and support of health care professionals is of concern in the modern day to eliminate barrier of fear. 14. Wild et al 2006, British Journal of Cancer. Mortality from all cancers and lung, colorectal, breast and prostate cancer by country of birth in England and Wales, 2001-2003 The study is based on mortality data of cancer patients from 2001-2003 throughout the country with England and Wales as reference groups. The population data was collected from 2001 census to study rate of mortality. The number of deaths of women due to breast cancer were recorded as 33, 291. Mortality was recorded high in England and Wales and then women born in North and west Africa. Lower mortality rates were recorded in Eastern Europe and Asian countries. The data revealed the mortality rate of women due to breast cancer in England and Wales calling emergency actions and research to decrease the number of deaths due to breast cancer. 15. NCIN, 2010. National Cancer Intelligence Network, NHS, National Cancer action team. Evidence to March 2010 on cancer inequalities in England The Cancer registries are researched extensively for the data on all individuals Diagnosed with cancer. The information includes age, gender, postcode of residence and hospital of treatment. Survey of population samples are also studied simultaneously. Cancer treatment inequalities are analysed to be based on these factors: Incidence and mortality, prevalence and survival of the patients, Awareness of the patient on treatment procedure and stage of diagnosis of the patient, Screening and patient experience during end of life care. The study focuses on inequalities of treating cancer on the basis of religion, culture and race. Numerous case studies are analysed to draw series of conclusions. Activities against the inequalities of treatment could improve the health condition of patients.

International Reserve System: Is it Feasible? Essay -- Economics Econo

International Reserve System: Is it Feasible? During the last decade, the world saw some of the most severe economic shocks and crises since The Great Depression of the late 1920’s. The crises of Mexico in 1994, Russia in 1995, Asian countries in 1997 and even recently in Latin America in 2000 have shown us that the economic shocks have a very drastic and crippling effect on the stricken countries. Rapid capital outflow; firms and banks overwhelm by bad debts; inability to provide loans; bank closures due to sudden capital losses and devaluation of the home currency, all have struck the affected countries simultaneously that their central banks did not have enough sufficient reserves to protect themselves. The realization of the poor central bank’s regulation, also aided by the fact that markets throughout the world are now interlinked, quickly caused panic and similar shocks to spread to neighboring countries and even regions. An international organization, which controls a form of reserve system, could have b een the lender of last resort for these sickened countries in their time of need. A working example of a reserve structure for banks would be the Federal Reserve System currently being used by the United States. This consists of 12 regional Federal Reserve Banks that is coordinated under one main Board of Governors. The main roles of the Fed is to issue new currency, administer discount loans to banks, examine the management of local banks and their financial status and provide a system of standardized banking regulations for banks to follow. Lastly, but most importantly, the Fed acts as a lender of last resort to banks facing financial collapse.[1] This not only provides stability for consumers but also prot... ...y (Cambridge: Harvard University Press, 1994). 5) Federal Reserves Bank, Boston web site, http://www.bos.frb.org 6) Frederic S.Mishkin, The economics of Money, Banking and Financial Markets (New York : World Student Series, 2003) 7) Jorge A. Chan Lau / Zhaohui Chen, â€Å"Financial Crisis and Credit Crunch as a Result of Inefficient Financial Intermediation.†, IMF Working Paper, August 1998 http://www.imf.org/external/pubs/ft/wp/wp98127.pdf or http://www.imf.org/external/pubs/CAT/longres.cfm?sk=2738.0 8) IMF web site, http://www.imf.org 9) The Asian Crises, http://faculty.washington.edu/karyiu/Asia/papers/index.htm 10) Works in International Monetary Fund-Financial Medic to the World?, ed. Lawrence J. McQuillan and Peter C. Montgomery (Stanford: Hoover University Press, 1999) 11) World Bank web site, http://www.worldbank.org