Berkeley College Essay

Today’s generation is now considered as only one click away. The World Wide Web has undoubtedly disregarded all the distance and is successfully connecting people from all the parts of the world. As a matter of fact, computers are now used as classrooms. An online school wherein you get to learn all things a normal school has to offer. And the best part is you can do it effortlessly. Berkley College is an online university where you can get to study on your home with international classmates online. You can get your reference books at no time, despite of the weather on your place or other havocs. They are all bound to give you all your needs for your own convenience. There could be numerous reasons why students prefer the online school rather than the usual one with infrastructures. But one of the major reasons might be the convenience. When you are having your studies on your own home, you can get to do all course works that you have to finish. Whether it is taking care of your baby, your jobs and other things you have to spend time on, you can all do it and at the same time study with Berkley Online College. And the best part is- there is no specific time for your classes! You can access with your school twenty four hours and seven days a week whenever and wherever. There would be no doubt about the flexibility of your online education. You can study anywhere that pleases you as long off course, there is an internet connection to depend on to. Because of its flexibility, students all over the world prefer it too. So that would be a double advantage: comfort while studying and international classmates. Yes, you can get to understand other culture and nations by means of your online international friends. So there is nothing to be afraid of. On the other hand, there are a million reasons to try Berkley Online College. References http://berkeleycollege. edu/Online/index. htm Berkeley Online College

Marketing Objectives Essay

Executive Summary Ceylon Tea came into being nearly a century and half back when the then existing coffee plantations, struck by a deadly disease – which virtually proved the death knell of coffee in Ceylon as it was then called, were converted to tea plantations. Nearly all the coffee plantations were very soon converted to tea plantations. As Ceylon Tea made its mark in the world and was being widely traded in the markets, measures were instituted to facilitate and monitor the process of manufacture and sale of tea to be shipped to foreign countries. On 30th July 1883 the first public sale of tea took place. The Ceylon Chamber of Commerce brought under its purview the conduct of these auctions. In 1894 the Ceylon Tea Traders Association was established. Today almost all tea produced in Sri Lanka is sold in auctions conducted by these two organizations. Introduction This assignment is mainly about a FMCG product which the organisation depends only on Tea. I have sectioned this assignment in to different sections, to make the reader easy and understandable. I have also given a brief idea about marketing orientation, key steps to follow to be marketing oriented and also difficulties of implementing marketing orientation. Then I have spoke about the marketing environment with micro and macro environment and also how these environments impact to the organisation. At last I worked with marketing mix and how the marketing mix elements are blended together in an organisation. I hope this assignment will be something different and interesting task for you. Thank you. Methodology Mainly concentrated on preliminary data questionnaire and the study also contains secondary data from www.zaidtea.com Got reference from articles and books are revealed by tables and diagrams. Also discussed and got ideas from people who are in the high position in the tea industry. Body of Assignment Task 1 1. Zaid Tea Company 1.1 About Zaid Tea The Company incorporated in 2008 was formed in the year 1998 by a person with multifaceted experience gained in the tea industry and inherited from his forefathers of two previous generations. Naushad Jamaluddin the Managing Director/CEO of ZAID TEA CO. (PVT) LTD and a scion of an icon in the tea industry was nurtured in it from an early age during the tenure of his school days whilst assisting his father and grandfather in their tea business and plantations. He was trained in the delicate art of tea tasting by some of the best experts in the industry. He has blossomed to be an expert, having an exquisite flair in tasting and blending teas to meet the most exacting requirements of his buyers. Zaid Tea with its well experienced, diligently trained resource personal and cutting edge knowhow is eminently suited to seamlessly source and deliver the most exacting tea blends to its diverse worldwide clientele. Selecting for them the choicest of teas produced in factories located in the tea plantations of the central highlands of Sri Lanka and sold at the Colombo Tea Auctions, each having their distinct and subtly varying aroma, flavor and liquor Zaid Tea Co (Pvt.) Ltd is incorporated as a limited liability company under the Companies Act of Sri Lanka. It is registered as an exporter of Ceylon Tea with the Sri Lanka Tea Board – the regulatory body of the Government of Sri Lanka entrusted with the task of ensuring the maintenance of the quality and image of Ceylon Tea exported from the country The Co. is also registered with the Sri Lanka Export Development Board as an exporter of Ceylon Tea. This is another regulatory body of the Government of Sri Lanka promoting exports in general from the country 1.2 Products and Main Brands Zaid Tea Company has their own brand – the â€Å"Maskeliya Kahata† range of black teas comes in aluminum pouches and tea bags with their distinct aroma, flavor and liquor. The teas come from plants grown in the cool crispy air of the mountain ranges of the Hatton – Maskeliya tea plantations famed for its teas with its distinctly fine aroma and flavor Further they have their own brand of blended teas and green teas Black Tea a) Maskeliya Kahata in aluminum pouches b) Maskeliya Kahata in tea bags a) Kingswood Tea in loose packaging b) Kingswood Tea in tea bags – flavored and unflavored Green Tea a) Kingswood Green Tea in loose packaging * Kingswood Green Tea in tea bags – flavored and unflavored 1.3 Services a) BLACK TEA Bulk Teas – They source and deliver unblended or specified blends worldwide packed in paper sacks, plywood chests and corrugated cartons with inner lining of either aluminium foil or suitable polythene to retain the freshness and aroma Branded Teas – They also source as per customer specifications and blend, package in printed cartons or other packaging as per their own brands and deliver worldwide Flavored Teas – Here too we can supply either in bulk or as per customers branded or un branded packaging – cinnamon, vanilla, ginger etc b) GREEN TEA Zaid Tea are in a position to supply you Green Tea plucked and processed from the finest tea gardens located in of the high mountainous terrain found in the central highlands of Sri Lanka where the air is fresh, pure, cool and crispy. It is manufactured to the highest international standards. Like black tea we can supply in bulk or customized brand, packaging and flavoring – unflavored, jasmine, mint etc Task 02 1. What Is Marketing Orientation A business which begins work on, or philosophy that focuses on identifying and meeting customer’s needs and wants satisfyingly. -Himaz Ahamed 2. Key steps that Zaid Tea should implement in order to be marketing oriented 2.1 Customer Focused An organizational orientation toward satisfying the needs of potential and actual customers. Customer focus is considered to be one of the keys to business success. Achieving customer focus involves ensuring that the whole organization, and not just frontline service staff, puts its customers first. All activities, from the planning of a new product to its production, marketing, and after-sales care, should be built around the customer. Every department and every employee should share the same customer-focused vision. This can be aided by practicing good customer relationship management and maintaining a customer relations program. In order to achieve this, the organization must: a) Define its market, effectively segment and target the right customer and listen to customers. b) An extensive programme of employee education and communication may be necessary to introduce customer focus in order to create the environment that encourages to think customers. c) Implement an effective marketing information system that will track customer needs on a continuous basis. 2.2 Competitor Focused In terms of competitors, in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context to identify opportunities and threats. Profiling coalesces all of the relevant sources of competitor analysis into one framework in the support of efficient and effective strategy formulation, implementation, monitoring and adjustment. Competitor focused concept is more preferable in markets which are growing very fast. Tea also one of the fastest growing market in Sri Lanka. So Zaid Tea also can invest in gathering more data about competitors which will enable them to develop innovations at lower costs. 2.3 Strategic Vision Develop a long-term, market-oriented strategic vision by viewing marketing as more than a series of promotional tools and techniques. Strong leadership from the top with high level executives building a customer philosophy into their business plans and define the future in terms of creating long-term value for stakeholders. Figure-01 Market vs Operations oriented structure 3. Difficulties in Implementing Marketing Orientation Concept to Zaid Tea Even though Zaid Tea might feels that the marketing orientation is the only correct path to be successful, in practice there are likely to be barriers in developing such an orientation. They are as follows: 3.1 Lack of Effective Customer Service The job of the customer-service staff involves more than just answering questions and providing solutions to problems that arise. For market orientation to prove successful, it must also include customer-service representatives who take the time to get to know each customer’s needs and preferences. Zaid Tea Company also can gather records of the feedback it receives and analyze them for use in developing market-orientation plans. Without such customer-service efforts, company loses key opportunities to obtain information. 3.2 Lack of Marketing Knowledge Lack of marketing knowledge, skill and experience are among the challenges of developing market-orientation plans. Many company employees understand basic marketing concepts, but lack the in-depth knowledge needed to develop marketing-orientation strategies that work. Some companies deal with this by seeking additional education for key employees or by hiring experienced, skilled marketers. Skilled marketers can help develop solid plans and give direction to key employees and departments. For example, an experienced marketer might help customer service, sales and technical-support departments learn how to incorporate a company’s overall market orientation plan. 3.3 Conflict between marketing and other functions The power struggle between different departments within an organization can hinder the process. Task 03 1. Marketing Environment Framework A company’s marketing environment consists of the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers. (Philip Kotler – 12th Edition) Figure-02 the marketing environment 2. Micro Environment 2.1 Definition Factors or elements in an organization’s immediate area of operations that affect its performance and decision-making freedom. These factors include competitors, customers, distribution channels, suppliers, and the general public. Micro Environment| Description| Factors that impact to Zaid Tea| Suppliers| A party that supplies goods or services. A supplier may be distinguished from a contractor or subcontractor, who commonly adds specialized input to deliverables. | A supplier’s behavior will directly impact the business it supplies. If a supplier provides a poor service Zaid Tea this could increase timescales or product quality. An increase in raw material prices will affect an organization’s Marketing Mix strategy and may even force price increases. Close supplier relationships are an effective way to remain competitive and secure quality products. | Intermediaries| Firm or person (such as a broker or consultant) who acts as a mediator on a link between parties to a business deal, investment decision, negotiation, etc. Intermediaries usually specialize in specific areas, and serve as a conduit for market and other types of information. Also called a middleman. | Zaid Tea must partner effectively with marketing intermediaries to optimize the performance of the total system.| Competition| The marketing concept states that to be successful, an organization must provide greater customer value and satisfaction than its competitors.| Competitor analysis and monitoring is crucial if an organisation is to maintain or improve its position within the market. If a business is unaware of its competitor’s activities they will find it very difficult to â€Å"beat† their competitors. The market can move very quickly. As a business it is important to examine competitors’ responses to these changes so that you can maximise the impact of your response.| Customers| A person, company, or other entity which buys goods and services produced by another person, company, or other entity.| Zaid Tea Company’s marketing plan should aim to attract and retain customers through products that meets their â€Å"wants and needs† and excellent customer service.| Publics| A public is any group that has an actual or potential impact on an organization’s ability to achieve its objectives. | According to Zaid Tea there are number of publics that will impact. They are:Financial Public, Local Public, Med ia Public, Government Public, General PublicZaid Tea should keep a good relationship with these publics in order to run successful business. | 3. Macro Environment 3.1 Definition The major external and uncontrollable factors that influence an organization’s decision making, and affect its performance and strategies. These factors include the economic factors; demographics; legal, political, and social conditions; technological changes; and natural forces. Macro environment is also known as uncontrollable environment. Figure-03 Macro environment forces The main forces in the macro environment are commonly denoted by the mnemonic PESTEEL forces. a) Political Environment b) Economical Environment c) Social and cultural Environment d) Technological Environment e) Ecological Environment f) Ethical Environment g) Legal Environment 3.2 Political Environment The first element of a PESTEEl analysis is a study of political factors. Political factors influence Zaid Tea Company in many ways. Political factors can create advantages and opportunities for Zaid Tea. Conversely they can place obligations and duties on company. Political factors include the following types of instrument: – Legislation such as the minimum wage or anti discrimination laws. – Voluntary codes and practices – Market regulations – Trade agreements, tariffs or restrictions – Tax levies and tax breaks – Type of government regime Non conformance with legislative obligations can lead to sanctions such as fines, adverse publicity and imprisonment. Ineffective voluntary codes and practices will often lead to governments introducing legislation to regulate the activities covered by the codes and practices. 3.3 Economical Environment The second element of a PESTEEl analysis involves a study of economic factors. Zaid Tea Company also affected by national and global economic factors. National and global interest rate and fiscal policy will be set around economic conditions. The climate of the economy dictates how consumers, suppliers and other organisational stakeholders such as suppliers and creditors behave within society. An economy undergoing recession will have high unemployment, low spending power and low stakeholder confidence. Conversely a â€Å"booming† or growing economy will have low unemployment, high spending power and high stakeholder confidence. A successful organisation will respond to economic conditions and stakeholder behaviour. Furthermore Zaid Tea will need to review the impact economic conditions are having on their competitors and respond accordingly. Task 04 1. Traditional Marketing Mix 1.1 What Is Marketing Mix Marketing mix is the set of controllable tactical marketing tool that firm blends to produce the response it wants in the target market. The marketing mix consists of everything the firm can do to influence the demand for its product. Thus in performing their key tasks marketing managers have at their disposal marketing programs to create customer satisfaction and ultimately profit for the organisation. These tools are often referred as the â€Å"4P s† on how to use these ingredients require marketing research and information. Marketing mix variables are as follow: Figure-04 Traditional Marketing Mix 2. How The Marketing Mix Elements Are Blended Together In Zaid Tea Company Sri Lanka is one of the oldest tea producing countries in the world – commercial Production was started in 1867 by the British planter James Taylor in Loolecondera Estate in Kandy. The tea produced in this country, popularly known as â€Å"Ceylon Tea†, ranks among the best available teas in international trade. In 2007, Sri Lanka was the third-largest tea-producing country globally, with a 9% share of global production, producing 30.6 million kilograms of tea. The total extent of land under tea cultivation has been estimated at approximately 187,309 hectares. Sri Lanka produces tea throughout the year, and the growing areas are mainly concentrated in the central highlands and southern inland areas of the island. They are broadly grouped under these headings according to their elevations, with high growns ranging from 1200 m upwards, medium growns covering between 600 m to 1200 m. and low growns from sea level up to 600 m. High grown teas from Sri Lanka are renowned for their taste and aroma. The two types of seasonal tea produced in these areas, Dimbula and Nuwara Eliya, are much sought-after by blenders in teaimporting countries. Uva teas from the Eastern Highlands contain unique seasonal characteristics and are widely used in many quality blends, particularly in Germany and Japan. The medium grown teas provide a thick colour variety which is popular in Australia, Europe, Japan and North America. The teas produced in low grown areas are mainly popular in Western Asia, Middle Eastern countries and CIS countries. Most factories in these areas produce what is known as a leafy grade of tea, the tea leaves of which are highly twisted and can grade into long particles. 2.1 Product Tea is produced from the Camellia Sinensis plant. The tea plant, which is evergreen, isn’t a shrub as popularly believed but a tree that is grown like a shrub to facilitate the process of tea plucking and production. It is native to Southeast Asia and is grown in a wide range of climatic conditions across the world. Tea is mainly produced in India (the world’s largest producer), Sri Lanka (till recently the world’s largest exporter), China, Kenya, Vietnam, Indonesia and Malaysia. The differing climatic conditions in the world’s various tea growing areas influence the quality and taste of the various teas. Zaid Tea Company has their own brand – the â€Å"Maskeliya Kahata† range of black teas comes in aluminium pouches and tea bags with their distinct aroma, flavor and liquor. The teas come from plants grown in the cool crispy air of the mountain ranges of the Hatton – Maskeliya tea plantations famed for its teas with its distinctly fine aroma and flavor Further they have their own brand of blended teas and green teas Black Tea c) Maskeliya Kahata in aluminium pouches d) Maskeliya Kahata in tea bags c) Kingswood Tea in loose packaging d) Kingswood Tea in tea bags – flavored and unflavored Green Tea b) Kingswood Green Tea in loose packaging * Kingswood Green Tea in tea bags – flavored and unflavored 2.2 Price Table 02- Price List Effective from 1st January 2013 of Maskeliya Kahata ZAID TEA CO (PVT) LTD| Price List Effective from 1st January 2013| Product| MRP| WSP| QDP| Maskeliya Kahata 20g| 20.00 | 18.00 | 17.10 | Maskeliya Kahata 50g| 42.00 | 36.96 | 35.11 | Maskeliya Kahata 100g| 84.00 | 73.92 | 70.22 | Maskeliya Kahata 250g| 195.00 | 171.60 | 163.02 | Maskeliya Kahata 500g| 385.00 | 338.80 | 321.86 | Maskeliya Kahata 1Kg| 755.00 | 615.00 | 584.25 | Maskeliya Kahata 2Kg| 1,495.00 | 1,215.00 | 1,154.25 | Maskeliya Kahata100 Tea Bags| 250.00 | 220.00 | 209.00 | | | | | | | | | | MRP – Maximum (Marked) Retail Price| | WSP – Wholesale Price – Price to Retail Trader| | QDP – Quantity Discounted Price| | The above table shows the effective price list of Maskeliya Kahata from 1st January 2013. 2.3 Place The role of this element basically describing availability, which is â€Å"right place† and the â€Å"right time†. Zaid’s Maskeliya Kahata is also available in every retailer shops. A channel of place is a set of interdependent organisation, which helps to make a product available in market for use of consumer. Zaid Tea also uses this concept of channels in order to provide Maskeliya Kahata available in the market. The below diagram denotes how Zaid Tea uses the distribution channels. Figure-05 Distribution channels of Zaid Tea * Note- There is also another Distribution channel method: PRODUCER AGENT WHOLESALER RETAILER CONSUMER Conclusion In a fast growing market day by day everything is fluctuating faster than we expect. Products and services are also same. The purpose of the project is to exhibit organisation to be marketing oriented and to aware about the marketing environment with micro and macro environment , how these environments impact to the organisation. Recommendations Plantation companies a) Explore the possibilities of upgrading plantation jobs, by providing upward movement, to attract more workers to work in the estate. b) There should not be any effort from the plantation companies to dilute the existing labour laws which protect the workers in the tea industry, on the grounds of declining returns. c) The big companies could also tie up with the ILO and other civil society organisations to help small growers achieve minimum labour and environmental standards. Adherence to such standards will give an additional product value to the tea being sold at the retail level. In return, the companies could provide incentives in terms of better prices to the small growers. These practices could work to the advantage of both. The government a) Provide technical and marketing assistance to the small and marginalized Farmers b) Provide credit schemes and debt management services to the plantations c) Strengthen the relationships between small tea growers and private processing factories. Develop a strategic intervention in order to help each actor aware of their rights and responsibilities within the value chain. International tea buyers a) Take responsibility for conditions in their entire tea value chains, particularly where they have more influence. b) Provide support to the small tea growers through technical and marketing assistance c) Pay a higher price for tea produced in a sustainable process d) Do not lobby to dilute the social protections available to tea estate workers e) Conduct multi-stakeholder monitoring and verification of the social and environmental standards on the tea estates from which tea is procured Annexure References * PCM Text Book * Kotler P. â€Å"Marketing Management† 9th Edition, Prentice hall of India, 1997, pp 128-150 * www.zaidtea.com

Lies †Ethan Canin Essay

1. Summary Jack is the narrator in this short story. He’s an eighteen-year-old teenager, who has a complicated relationship with his parents. His mother is trying to push him in the right direction concerning his future. On the other hand it’s clear that his father does not want Jack to live at home anymore. He said: â€Å"Yours pay your dime, you takes your choice†, which from what Jack interpreted means; get out. Though, Jack does not care that much about moving out anyway, because he’s going to get married to Katy. He met her at the movie theatre, Able’s, where he worked after his graduation. When he went out with her, she admitted that she loved him, but he did not feel the same way yet. He realizes that he’s getting more mature, and decides to leave his job to go to Fountain Lake with Katy. He’s finally feeling the same way about her. 2. Characterization The main character, which is also the narrator, is called Jack. He’s the character, who is describing every little detail through his eyes and mind. He’s an eighteen year old â€Å"grown up†, which I would prefer to call him, because he thinks of himself as mature individual. He’s different from teenagers at his own age. That reason is that he is in a â€Å"serious† relationship with a girl called Katy. When I’m writing â€Å"serious†, I mean he is still young and he’s getting married to his beautiful future wife, Katy. He’s going to experience a life on his own, therefore it could be a kind of relief for him to move out, and on the other hand he doesn’t even care about â€Å"the moving† out situation. I think that it’s partly his father’s fault. They don’t seem to get along together. Though, he might think that his father’s honesty is better than lying to him. His life is somehow finally making sense. But it doesn’t seem like he had the freedom to do, what he really wanted to do, before he met her. He’s finally out of high school. I interpreted that his mother had pushed him really far to get to this point in his life. She has been telling him, he can be anything he wants to be, if he makes and an effort. After his own opinion he’s old enough to figure out that, that is not the case. That makes him question his mother’s sincerity. After graduation he got a job as a projectionist and a ticket seller at Able’s, which is the movie theatre. That’s where he met Katy. One day in the booth, Katy told Jack that she loved him, but he actually didn’t feel the same way about her, yet. I think that the relationship between them is going too fast. He doesn’t seem to be following her every step of the way. They are both really young, it might be difficult for them to comprehend, what’s going to happen further on in life, because they’re getting married to soon. Another explanation could be that only one other woman than Katy has loved him, which is his mother. We actually don’t hear much about the father. I’m guessing that the father isn’t there for Jack, when he needs him, supportively. That indicates that Jack has had lack of love from his father. He describes the wedding more like a justice of peace. In my sense, I understand it as a little gathering of people, just to document that there has been a ceremony celebrating the lovebirds. Then they can eventually move on to live their life on their own in peace and happiness. 3. Comment on the title and ending I think the title is very interesting. We do hear about Jack’s mother lying to him, and that his father is ironically an honest man, and that Jack sometimes may lie, but not if it’s a serious subject, he’s talking about. Especially when Katy says that she loves him. The title does suit the short story, but I would rather have named the title something that has to do with relationships instead. The ending just seems bleak at first. He doesn’t have his mother’s guidance anymore, and he somehow fears the outside world. But then when he’s in the car, he bursts out that he loves Katy. They’re still on the road and he seems to be more confident. He sounds more happy and peaceful than ever before. 4. Themes The theme of the story could be about, as I have written before, relationships, because of the bond between his parents, friends and girlfriend. All of the relationships have developed in three different ways. He’s moving on to another and more mature state in his life, where he’s choosing to take a new direction. He does not feel like talking to his friends and is already in a complicated relationship with his parents. The only one he actually enjoys being around with is Katy.

Narrative Technique and Language in Albert Camus The Stranger Essay

Narrative Technique and Language in Albert Camus The Stranger - Essay Example Camus reflected his thoughts on moral ambiguity and the societal treatment of murderers and terrorists in many of his works including this one. The reader is presented with a murderer protagonist who is devoid of motive, reason or logic for the crime he has committed (Dissanayake 1). Camus uses the language of the narrator and the voice of the narrator, as a device through which the reader may understand the perspective of Meursault, and as a way to reflect aspects in the development of the story. Meursault as a character is utterly remarkable, in that he is quite unremarkable in every possible way (Day 84). He appears to have no unusual or outrageous attributes, opinions, qualities or flaws when the reader is initially introduced to him. He does nothing special, holds no special job, is not living under any unusual circumstances, does not discuss any extreme or judgemental personal opinions and is far from being emotionally distinctive. Meursault leads an existence in which â€Å"d ays are added to days without rhyme or reason †¦ [and his life] is an interminable and monotonous addition† (Camus 16). However, it is this lack of special traits and engaged interaction in society and life that makes the character, paradoxically, very remarkable and unusual. As the reader unveils the protagonists’ inner thoughts and plot development of the story, it becomes clear that this character is remarkably detached from society in every way. Furthermore, not only is he detached from society, he is detached from life itself including family and relationships. He displays an unsettling degree of amorality and total lack of judgement of other people’s actions, thoughts and behaviours. Indeed, his detachment goes even further as we realise that he is also detached from his own emotions and self-identity to the extent that he appears to be lacking in both. From the very beginning of the story, Meursaults language very effectively allows the reader insight into his way of thinking. His sentences are consistently brief and concise right from the start, â€Å"Mother died today. Or maybe yesterday. I can’t be sure† (Camus 1). His lack of elaboration or explanation is indicative of his amoral and overwhelmingly logical attitude and personality. At the beginning of the story in particular, he does not offer much in the way of descriptions, imagery, expression of feelings or emotions or any forms of elaboration. Meursault gets to the point, saying as little as possible in order to communicate his message without overstating or offering unnecessary details of any kind. This serves to convey him as a highly logical, unfeeling character. In his grammar, he rarely uses verbs or adjectives that convey feelings such as ‘felt’, but rather uses descriptors such as ‘decided’ and ‘thought’ to describe his actions and ideas. We begin to see a change in language used when Meursault recounts the day of the murder. His language here is noticeably more descriptive, vivid, imaginative and elaborate, unlike earlier in the story, for example â€Å"the heat was beginning to scorch my cheeks; beads of sweat were gathering in my eyebrows. It was just the same sort of heat as at my mother’s funeral, and I had the same disagreeable sensations—especially in my forehead, where all the veins seemed to be bursting through the skin† (Camus 38). Such a vivid and detailed description is unusual for the character thus far, which highlights the fact that this event or recollection, has more meaning even

High Bypass Gas Turbine Engine Coursework Example | Topics and Well Written Essays - 2000 words

High Bypass Gas Turbine Engine - Coursework Example Application of Newton’s First Law related to thrust: # If thrust and Drag are equal, the aircraft maintains a constant speed. # If thrust is increased, the speed of aircraft increases. Since drag is proportional to speed, drag also increases till it equals thrust. When drag again equals thrust, the aircraft travels at constant higher speed. Application of Newton’s Second Law related to mass flow and exit velocity: Force Mass * Acceleration F ma F=kma When SI system is used,the basic unit of force is the Newton, which is the force that will accelerate unit mass of 1 kilogram at a rate of 1 metre per second per second. Under these conditions, the constant k is unity. Therefore, F=ma F=ma=m di/dt=(m/ft) dV=d (mV)/dt =mass flow rate times change in velocity =(mv)dot Where â€Å"m dot†=Mass flow rate is the amount of mass moving through a given plane over a given period of time. Mass flow rate=r * V * A where r is the density and V is the velocity of the fluid passing through area A. This is denoted as m dot (m with a little dot over the top) m dot= r * V * A If we denote exit of the turbojet by ‘e’ and free stream by ‘0’, then we get, F= (m dot*V)e-(m dot *V)0 Thus by maintaining the exit velocity at much greater values than the velocity at intake, high thrust can be produced in turbojet engines (High Exit Velocity). Application of Newton’s Third Law related to thrust: Thrust is the reaction force developed in the forward direction by accelerating a mass of fluid or gas backwards to the rear of the engine. The turboprop propulsion system consists of a core engine and a propeller. The general principles in Application of Newton’s First Law and Third Law in Turboprop engines are the same as given in Turbojet engine. Application of Newton’s Second Law related to mass flow and exit velocity in Turbo Prop: The general thrust equation is F= (m dot*V)e-(m dot *V)0 This means that if the exit velocity is m aintained at a higher value than free stream velocity, and simultaneously, the engine flow rate (m dot) is kept as high as possible, the high engine flow will produce a high thrust in a turboprop engine. Even though a large amount of air is ingested, the change in velocity is very minimal between the intake and the exit so that the exit velocity is at a low value (Low exit velocity). Due to the large value of m dot, a high thrust is developed. Total Thrust= Thrust of Propeller Thrust of Core If we denote the free stream conditions by â€Å"0†, the propeller exit conditions by â€Å"1†, core exit conditions by â€Å"e† and core entrance conditions by â€Å"c†, then from the basic thrust equation we get: F=(m dot)0 * V1 – (m dot)0 * V0 + (m dot)e * Ve – (m dot)c * V1 In Turboprop engine, the mass flow rate through the propeller is much greater than that of core engine(High mass flow ). The mass flow rate entering the core is almost equal to th e mass flow rate exiting the core. The exit velocity from the core is almost the same as inlet velocity into the core(Low exit velocity). Hence the thrust equation can be rounded off to get: Thrust F=(m dot)0 * (V1-V0) + (m dot)e * (Ve-V1) High Bypass Gas Turbine Engine: The 5 basic modules- Along with a Detailed Description of operation of each. Inlet Components and Purpose: The intake also called the inlet serves three purposes, namely (1) recovering as much of the total pressure of the free air stream required for combustion, from free-stream conditions to the conditions and deliver this pressure to the entrance of fan or compressor.

Situation 1 Coursework Example | Topics and Well Written Essays - 250 words

Situation 1 - Coursework Example Lugar was inspired by the personal experience he got when helping out his mom with her garage sale. Prior work experience might also contribute in Lugar’s idea. Through his experience with other garage sales in the area, Lugar believed that he had the capability to offer new services to people regarding garage sales. Lugar’s start up idea is worth trying. The fact that Lugar has good pricing insights and is ready to use advertising to make his business feasible and successful gives him an upper hand in the area. Using pricing strategies for the garage sales idea is an important service differentiation method that can offer superior performance and thus, competitive advantage in the market. Wise pricing will help customers happy because they will maximize their profits and risk of not selling the garage items. Lugar’s pricing strategy might help ensure customer loyalty thus make the concept successful. However, before developing the concept into a business plan Lugar needs to conduct a feasibility analysis to assess the probability of the business becoming successful (Longenecker, Petty, Hoy, & Palich,

Monopolistic Competition Essay Example | Topics and Well Written Essays - 1000 words

Monopolistic Competition - Essay Example Figure 1 is illustrative for differentiating market structure and the chapters refer to the chapters in Mankiw (2007). Figure 1. Gregory Mankiw on four types of market structure Source: Mankiw (2007, p. 341) Mankiw (2007, p. 341) elaborated that there is no â€Å"magic number† that would allow us to determine what is â€Å"few† or â€Å"many† firms as reality is never as precise as theory. Samuelson and Nordhaus (2001, p. 168) had viewed monopolistic competition as â€Å"imperfect competition†. Further, they described the type of competition to be â€Å"very common† (Samuelson and Nordhaus 2001, p. 187). Earlier, Hunt (2000, p. 41) reported that the theory of monopolistic competition was developed by Edward Chamberlin in 1933 in which the latter complained that his theory was wrongly lumped with Joan Robinson’s theory of imperfect competition. In particular, Hunt (2000, p. ... In contrast, through product differentiation, a firm in a monopolistic competition has a portion of the market in which he has a monopoly. For instance, the pants industry has Levis and Wrangler, for example, and each brand has a set of customers loyal to the brand. For their respective loyal customers, each firm is a monopoly facing a specific demand curve. Varian (2005, p. 461) pointed out in a monopolistic competition, â€Å"each firm faces a downward-sloping demand curve for its product.† This is illustrated in Figure 2. Figure 2. Monopolistic Competition in the Short Run Source: Mankiw 2007, p. 369 A diagram similar to Figure 2 of the earlier page is in Depken (2006, p. 199) as well as in Taylor (2007, p. 293). In Figure 2 of the earlier page, it is clear that a monopolistic competitive firm maximizes profit where its marginal revenue equals marginal cost (Mankiw 2007, p. 369). However, as shown in Figure 2, this can lead to a loss or profit, depending on the costs curves confronting the firm (Mankiw 2007, p. 369). The left panel of Figure 2 in the immediately preceding page indicates a profit for the monopolistic competitive firm while the one on the right panel of Figure 2 indicates a loss. Meanwhile, it must be pointed out that a much earlier book, Eckert and Leftwich (1988, p. 212) had described a much more elastic demand curve for a monopolistic competition or a demand curve that is close to a horizontal straight line to reflect that demand can either significantly drop or increase with prices changes in a monopolistic competition. In other words, this means that the demand curve facing the competitively monopolistic firm in the short run is highly elastic. Subject to

Redefinition of Japanese American Identity Essay

Redefinition of Japanese American Identity - Essay Example Industrialists sought Japanese immigrants to replace the Chinese after the Chinese Exclusion Act took effect. The cultural diversity in the U.S resulted in fundamental questions being raised on America’s culture and identity. The reception of other Asian Americans in U.S had its basis on the reception that the Chinese received. The Japanese later discovered during the Second World War that their achievements in U.S did not lead to any acceptance by the American community. The Japanese were placed in internment camps, unlike the German and Italian Americans (Takaki, p. 7). After the Second World War, and following the treatment of the Japanese Americans during the war, their identity underwent redefinition. This is because of the historical experiences and changes in laws, economics and attitude during the war. After the Second World War, Japanese Americans faced numerous challenges that helped in the creation of their identity. In 1942 following the Pearl Harbor attack, Presid ent Roosevelt instituted the Executive Order 9066. Though the order appeared neutral, it targeted the Japanese classified as a danger to the American society. Thousands of Japanese-American citizens were sent to hurriedly constructed camps (Takaki, p. 6). Many of these citizens spent close to four years in this camps living under heavily armed guards. This Japanese American had American citizenship but faced internment because of their original country’s attack on Pearl Harbor. While the Japanese Americans faced internment, the African Americans faced extreme discrimination and segregation. African Americans would be forced into war and later be discriminated by the exact society it protected (Jones, p. 9). While the Japanese Americans population in West U.S represented a small portion of Japanese Americans in the country, they faced hostility from the vast white population. Customs and laws shut them out from participation in civil life and economics. Japanese immigrants did not have rights to property or citizenship. However, their descendants became citizens by birth and successful in farming and business. The Pearl Harbor attack by the Japanese gave the white Americans an opportunity to renew and reinforce their hostility towards the Japanese Americans. It also gave the white community an opportunity for targeting their competitors in economic activities. This community agitated for the elimination or removal of unwanted competitors-Japanese (Takaki, p. 6). White Americans posted relocation notices all over the American West Coast. The white Americans gave the Japanese one week to leave the country. Japanese farmer’s desperately looked to their unwilling neighbors to take care of their farms. Business owners and farm owners faced financial ruin. They lost everything and forced to sell their shops, homes, furniture and clothes. The Supreme Court in 1944 reinforced the exclusion constitutionally by declaring the permissibility of the exclusion to curtail the civil rights of the Japanese Americans because of the pressing public necessity (Jones, p. 6). This treatment of Japanese Americans by the white Americans is similar to the treatment of other Americans. The African and Mexican Americans faced exclusion from economic activities. Economic and social activities were the preserve of the white Americans, and they viewed other races as competition or slaves.

The reader Essay Example | Topics and Well Written Essays - 750 words

The reader - Essay Example This is true with respect to The Reader as well. While the movie certainly deserves its acclaim, especially on its technical aspects, there are crucial differences between the two versions. This essay will argue that the movie The Reader fails to capture the central thrust and focus of the novel in terms of capturing the personalities and thoughts of Hanna and Michael in their entirety. As a result of this deviation, it would stand second to the novel in terms of its aesthetic and moral significance to the audience. When evaluating the novel, one has to see it in the context of the burgeoning body of holocaust literature that has been published in the last sixty years. Rather than dealing in dichotomies of good and evil in the characters of Hanna and Michael, Bernhard Schlink does present a nuanced view of the questions confronting an entire generation of Germans post holocaust. While the work of art provides an entry point for further exploration of the moral aspects of the holocaust, it is simultaneously a statement on the limitations of the written word to convey and elicit comprehensive responses. To the extent that this is an accepted fact, not just applicable to the lead characters of The Reader, but for the Novel in general, the author does a satisfactory job of perceiving and probing answers to these tough questions. In other words, the Bernhard Schlink novel succeeds in meeting its set objectives. This is further borne by the fact that the book was translated into 37 languages and incl uded in the curricula of several graduate courses. To take the above mentioned assessment a little deeper, let us take a specific example. Early in the narrative of the novel we come across this memorable piece of writing (the narrator is the young Michael Berg): â€Å"As she was reaching for the other stocking, she paused, turning towards the door, and

Civil engineering Essay Example for Free

Civil engineering Essay In modern usage, civil engineering is a broad field of engineering that deals with the planning, construction, and maintenance of fixed structures, or public works, as they are related to earth, water, or civilization and their processes. See also: Earth Climate Geochemistry Environmental Science Geology Matter Energy Civil Engineering Engineering Engineering and Construction Most civil engineering today deals with power plants, bridges, roads, railways, structures, water supply, irrigation, environmental, sewer, flood control, transportation, telecommunications and traffic. In essence, civil engineering may be regarded as the profession that makes the world a more agreeable place in which to live. Engineering has developed from observations of the ways natural and constructed systems react and from the development of empirical equations that provide bases for design. Civil engineering is the broadest of the engineering fields, partly because it is the oldest of all engineering fields. In fact, engineering was once divided into only two fields, military and civil. Civil engineering is still an umbrella term, comprised of many related specialities. For more information about the topic Civil engineering, read the full article at Wikipedia.org, or see the following related articles: Traffic engineering (transportation) — Traffic engineering is a branch of civil engineering that uses engineering techniques to achieve the safe and efficient movement of people and goods. .. Related Stories Researchers Building Lightweight Bridge For The 21st Century (January 28, 1999) — The bridge of the 21st century wont be made of concrete and steel, but of strong, lightweight materials equipped with electronic and optical sensors that warn engineers of any potential read more Wireless Nano Sensors Could Save Bridges, Buildings (April 12, 2010) — Could inexpensive  wireless sensors based on nanotechnology be used to alert engineers to problematic cracks and damage to buildings, bridges, and other structures before they become critical? A read more NSF Funds First Phase Of Earthquake Network (September 7, 2000) — The National Science Foundation (NSF) has awarded $300,000 to the University of Illinois at Urbana-Champaign to design a national online network that will transform earthquake engineering read more Wind Expert Cites Poor Building Practices In Connection With Storm Deaths And Destruction (March 4, 1998) — National wind expert Dr. Peter Sparks, a professor of civil engineering and engineering mechanics at Clemson University, cites poor practices in connection with last weeks tornado-related death read more Quicky Assembled Bamboo Bridge, Strong Enough For Trucks, Opens In China (December 18, 2007) — In China, bamboo is used for furniture, artwork, building scaffolding, panels for concrete casting and now, truck bridges. The sustainable design is the first of its kind: the 10-meter span in Hunan read more

A History Of The Gold Standard Economics Essay

A History Of The Gold Standard Economics Essay What is Gold Standard? The Gold Standard is a monetary system in which the standard unit of currency is a fixed weight of gold or freely convertible into gold at a fixed price. Under the Gold Standard system, paper money which circulates as a medium of exchange is convertible into gold on demand. The exchange rate between paper or fiat money and gold is fixed. Same thing happened to the rates of exchange between national currencies, it is fixed. The Gold Standard can be divided into two types: full Gold Standard and partial Gold Standard. A 100 percent reserve Gold Standard or full Gold Standard occurs when all circulating money can be represented by the appropriate amount of gold. Whilst in partial Gold Standard, circulating notes can be redeemed for their face value; it can be either higher than its actual value or lower. Why gold being selected as a reserve for most countries and even for today? Many nations hold the gold reserves in significant quantity in order to defense their currency and put a hedge against the US dollar. Some more, the weakness of the US dollar can be offset by strengthening the gold prices. Yet, compared to other precious metals or major competitors such as US dollar and real estate, none of them has the stability as the gold as well as its rarity and durability. Gold is also used as a store of value starting from the early monetary system since it is high value enough. It is high in utility and density, it is able to resist to corrosion, it is uniform, and it is divisible easily. As we know, banking began by depositing the gold into a bank and it could be transferred from one bank to another bank. Until today, gold remains to be the main financial asset for most of the central banks. By looking back at the past, before 2000 BC, the first metal that human being used as a currency in trade was silver. According to the history, we know that gold has been used as a mean of payment since long time ago. After 1500 years, the first coinage of pure gold was introduced. The adoption of Gold Standard was preceded after that. Yet, the fiat monetary system came and took over the Gold Standard system during the outbreak of World War I. This happened for most of the nations are due to the excessive public debt and the government is unable to repay all the debt in gold or silver. IMPORTANCE OF STUDY / RESEARCH IN GOLD STANDARD As a banking and finance student, we have to study and understand any history that regard to the field, included the topic of our assignment this time Gold Standard. This is because people live in present and they have to plan for and worry about the future. History is the study of past. It gives the information of the past in order to anticipate what is yet to come. Understanding history is important to develop the linkages to predict the future. Yet, history also provides us abundant of information about how the Gold Standard was formed and how it operated. Understanding the operations of the Gold Standard is difficult currently since it was collapsed and we cannot be exposed ourselves to it. The current data that we have is relied on what happened into the past. By using the historical materials, we can make our own analysis on the Gold Standard and understand its weaknesses and problems. Besides, the study of the Gold Standard can help us to understand the changes of the monetary system and how the financial world affects the global economies. From the historical information, we know when the adoption of the Gold Standard was and when the collapse of the Gold Standard was. Yet, we also know that the monetary system had been changed over time to time and which system was being created in order to take over the original system. For instance, Gold Standard was took over by Bretton Woods System and followed by Contemporary Monetary System. There is always a reason there for the changes made. This is because of the discovery of the shortages of the system. Once the deficiencies being located, the new system would be established. If there is still do not have any actions taken, it will affect the economies of the world since finance cannot be separated with the economy. In addition, as a financial student, we have to understand about the differences between fiat money and Gold Standard. From the project we done, we know that fiat money is money that no have intrinsic value and cannot be redeemed for any commodity. The paper currencies and coins that are available in markets nowadays are considered as fiat money and the strength of the economy of the issuing nation is the determinant used to determine the value of fiat money. Mostly, inflation will follow with the enormous issuing of fiat money. Whilst, The Gold Standard is a monetary system in which the standard unit of currency is a fixed weight of gold or freely convertible into gold at a fixed price. Under the Gold Standard system, paper money which circulates as a medium of exchange is convertible into gold on demand. The exchange rate between paper or fiat money and gold is fixed. PART II : THE GOLD STANTARD 2.1 HISTORY 2.1.1 History of Gold Standard The first nation that officially adopted the Gold Standard system is England (also called as Great Britain) in 1821. The list below is the dates of adoption of the Gold Standard system: 1821 England 1871 Germany 1873 Latin Monetary Union Belgium Italy Switzerland France 1875 Scandinavia(Monetary Union) Denmark Norway Sweden 1875 Netherlands 1876 France 1876 Spain 1879 Austria 1893 Russia 1897 Japan 1898 India 1900 United States During that century, there was a dramatic increase in global trade and production which brought enormous discoveries of gold. The discoveries aided the Gold Standard remain intact well on the following century. The emergence of the International Gold Standard is on 1871 since the Germany also started to use the system. By 1900, most of the developed countries were linked to the Gold Standard system, but surprise that the United States was the last nation to enter. This is because there was the present of a strong silver lobby that forbidden gold from being the sole monetary standard with the U.S. throughout the 19th century. The Gold Standard was at its pinnacle from 1871 till 1914. During the period, there were a near perfect ideal political contexts existed in the world. Governments tried to corporate nicely in order to make the Gold Standard system work, but the system was collapsed during the duration of the Great War in 1914. In 1925, it was reestablished. But due to the relative scarcity of gold, many countries adopted a gold-exchange standard, supplementing their gold reserves with currencies convertible into gold at a stable rate of exchange. Unfortunately, the gold-exchange standard was ended during the Great Depression. The United States had set a minimum dollar price for gold in order to aid for the restoration of international gold standard after World War II. In 1971, dwindling gold reserves and unfavorable balance of payments led the U.S. to abandon the Gold Standard system. 2.1.2 Timelines of Gold Standard 1717 The Kingdom of Great Britain went on to an unofficial Gold Standard. 1816 Gold was partially displacing silver as a standard. 1821 The Gold Standard was first out into operation in Great Britain. 1873 The Coinage Act of the United States Congress came into operation on 1st April and constituted the gold one-dollar piece as the sole unit of value. 1900 Gold Standard Act was established on 14 March 1900 and gold was the only standard for redeeming paper money. 1914 The abandonment of the Gold Standard by Russia. 1925 The return of the Gold Standard. 1971 The abandonment of the Gold Standard by the United States. 2.1.3 Timelines of Fiat Money 1690 There are three types of currency according to American History: Fiat money Certificates based on coin or bullion Bank notes (Fiat money is one type of currencies that being used during the time.) 1789 France was undergoing economic downturn and due to lack of money, fiat money being used. 1862 There was a paper currency that printed upon one side in green has been created with a promise to pay Greenbacks. 1878 An argument in favor of honest money and redeemable currency. 1896 Paper-based global economy has been collapsed. 1913 Establishment of Fed. Fiat money became the United States legal tender. The mercy of the fiat money system has led to the greatest debt bubble in world history. 1933 Inflation occurred. 2008 Under the fiat money system, money as debt. 2.1.4 History of Shifting Between Fiat Money and Gold Standard in U.S. As stated as below, there were a lot of shifting between a fiat money and gold standard had been made by the United States over the past 200 years which in order to avoid hyper-inflation. Hyperinflation occurs when the confidence in money had gone and it leads to no value in the money. As mentioned as earlier, the gold standard was over due to the reason of the government was unable to repay for the excessive of public debt in gold or silver that its countries owe. 1785-1861 Fixed Gold Standard : 76 years It was issued by American colonists for the Continent Congress in order to finance the Revolutionary War. It was produced by the United States Federal Government. It was authorized by the Act of March 3, 1849. 1862-1879 Floating Fiat Currency : 7 years The fiat money of the United States above is Greenbacks. It was created to pay for the enormous cost of the Civil War. It was the debt of the U.S. government which could be redeemable in gold at future without any specified date. It was circulated along with the Gold certificates. 1880-1914 Fixed Gold Standard: 34 years It was ended due to the financial needs of World War I. 1915-1925 Floating Fiat Currency : 10 years It was created to pay for World War I countries. There was insufficient of gold to support the paper currency. 1926-1931 Fixed Gold Standard : 5 years It was ended due to most of the nations tried to deposit their pounds and dollars for gold when the depression occurs. 1931-1945 Floating Fiat Currency : 14 years It was ended due to the outbreak of World War II. 1945-1968 Fixed Gold Standard : 26 years On 24 June 1968, a proclamation that Federal Reserve Silver Certificates could not be redeemed in silver was issued by President Johnson. 1971 Floating Fiat Currency : 5 months It was established by President Nixon on August 1971. 1971-1973 Fixed Dollar Standard : 2 years It was passed by the Smithsonian Agreement. 1973-today Fiat Currency : 37 years It was established by the Basel Accord. 2.1.5 Evolution of International Monetary Systems International Monetary System had been undergoing several stages of evolution which are stated as below: Bimetallism (before 1875) A double standard in the sense that both gold and silver were used as international means of payment. Some nations used the gold standard; some used the silver standard; and some used both. Both gold and silver were used as money and the gold or silver contents were the determinants used to determine the exchange rates among currencies. Classical Gold Standard (1875-1914) Most nations agreed that -Gold alone was assured of unrestricted coinage. -There would be two-way convertibility between gold and national currencies at a fixed ratio. -Gold could be freely exported or imported. Two countries relative gold contents were be the determinants used to determine the exchange rate between two countries currency. Highly stable exchange rates under the classical gold standard provided an environment that was conducive to international trade and investment. Misalignment of exchange rates and international imbalances of payment were automatically corrected by the price-specie-flow mechanism. Interwar Period (1915-1944) Exchange rates fluctuated as countries widely used predatory depreciations of their currencies as a means of gaining advantage in the world export market. Attempts were made to restore the gold standard, but participants lacked the political will to follow the rules of the game. The result for international trade and investment was profoundly detrimental. Bretton Woods System (1945-1971) Named for a 1944 meeting of 44 countries at New Hampshire. The purpose was to design a postwar international monetary system. The goal was exchange rate stability without the gold standard. The result was the creation of the IMF and the World Bank. The system was a dollar-based gold exchange standard. Flexible Exchange Rate System (1971-today) The system was declared acceptable to the International Monetary Fund (IMF) members. Central banks were allowed to intervene in the exchange rate markets. Gold was abandoned as an international reserve asset. Managed Float System (1973-today) 2.2 INTERNATIONAL GOLD STANDARD 2.2.1 Chronology of Gold and International Monetary System 1717 Master of the Mint, Sir Isaac Newton gave guinea statutory valuation of 21 shillings. Commence of the United Kingdom Gold Standard. 1797 Occurrence of Napoleonic Wars. Bank of England abandoned gold payments. 1816 Establishment of UK Coinage Act. 1844 Bank of England obliged to buy gold. 1870-1900 Except of China, most of the nation abandoned Bimetallic Standard and switched to Gold Standard. 1913 The United States system of reserve banks was established by Federal Reserve Act. At least 40% of notes were gold-backed. 1917 U.S. prohibited gold exports. 1919 UK went off Gold Standard. Establishment of London Gold Fixing. 1925 Return of Gold Standard in the United Kingdom. Establishment of UK Gold Standard Act. 1931 The United Kingdom abandoned Gold Standard. 1933 Suspend of the United States convertibility. Prohibition of exports, transactions, and holding of gold. 1934 Presidential Proclamation of making dollar convertible to gold again. 1936 Establishment of Tripartite Agreement (Countries involved: U.S., UK, and France) 1939 Close of London gold market due to the outbreak of war. 1944 Establishment of Gold Exchange Standard as a result of Bretton Woods Conference. 1945 International Monetary Fund (IMF) Articles of Agreement became effective. 1954 Reopen of London gold market after World War II. 1961 Establishment of Gold Pool (Members: Belgium, France, Germany, Italy, Netherlands, Switzerland, UK and Federal Reserve Bank of New York) 1967 Buying of gold increased due to the devaluation of sterling. 1968 Close of London market. Abolishment of Gold Pool and establishment of 2-tier market. Establishment of Special Drawing Right (SDR). 1971 Suspend of U.S. convertibility to gold. Establishment of Smithsonian Agreement. 1972 Devaluation of the United States dollar. 1973 Suspend of dealing in foreign exchange markets by most of the central banks. Adoption of floating exchange rate regime. Abandonment of 2-tier gold market. 1975 Abolishment of restriction on citizen buying, selling or owning gold by U.S. First U.S. gold auction on January. Establishment of agreement between G10 countries and Switzerland on no attempt to peg the gold price. 1976 First gold auction by IMF on June. 1978 Disappear of formal role of gold in International Monetary System. 1979 Establishment of European Monetary System. Final U.S. gold auction on November. 1980 Last 45 IMF gold auctions on May. 1982 The United States Gold Commission reported to Congress. 1985 Establishment of Plaza Agreement on currencies. 1987 Establishment of Louvre Accord on currencies. 1992 Sign of treaty on European Union at Maastricht. 1998 Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain joined Economic and Monetary Union (EMU). 1999 Began of EMU. Announcement of Central Bank Gold Agreement (CBGA). 2004 Announcement of Second Central Bank Gold Agreement. 2.2.2 Gold Standard Went International *The picture above the gold and silver coins that available around the world during 19th century. From the chronology above, we know that most of the countries (except China) had abandoned their silver or bimetallic standard and went for a full gold standard between the years of 1871 to 1900. There is always a reason. German asked for war indemnity to be paid in gold by France right after the Franco-German War. German used this gold to finance a new gold standard in their home country. This had lead to an increase in the demand of gold and there was unload of tons of silver on the neighboring nations. Due to the fear towards silver inflation, the neighboring countries decided to follow German. The list below is the date of first gold standard: 1871 German 1873 Belgium 1873 Italy 1873 Switzerland 1874 Scandinavia 1875 Denmark 1875 Norway 1875 Sweden 1875 Holland 1876 France 1876 Spain 1879 Austria 1893 Russia 1898 India 1900 USA International Gold Standard existed when the following condition being fulfilled: Gold alone is assured of unrestricted coinage. There were two means of convertibility between gold and national currencies at a fixed ratio. Gold may be freely imported and exported.

The Yellow Wallpaper Symbolism

The Yellow Wallpaper Symbolism The Yellow Wallpaper written by Charlotte Perkins Gilman in 1892 is a collection of journal entries written by a woman who suffers from the mental disorder, namely temporary nervous depression. All of the entries constitute an account of the woman who is taken by her physician husband to the country in order to regain mental stability. More importantly, it portrays the protagonists preoccupation with the ugly wallpaper in her sickroom. The work is filled up with plenty of symbols, but the most important and prevailing one is the mentioned above wallpaper. The protagonist is engrossed in it and feels an uncanny connection to it. This seemingly irrelevant and ordinary element of decoration represents many arguable issues in the story, making the interpretation of the text more complex and meaningful at the same time. The yellow wallpaper stands for state of mind, restrictions placed on women as well as for the racial problems in the late 19th century particularly in the United States o f America. Firstly, let me have a look on the wallpaper as a symbol of the protagonists state of mind. The very colour of it is yellow. The most universal connotations with it are bodily fluids, sickness or uncleanness. In the case of The Yellow Wallpaper it would mirror a mental illness and the process of the downfall of the human mind. Moreover, the pattern of the wallpaper is illogical and chaotic just as the narrators shaken sanity. As her disease confuses her mind and contradicts logic, the paper parallels her psychological state at this point. She is confused and unstable just as the decoration. At first, the wallpaper is a source of an immense irritation to Jane as she cannot find any, even the smallest sign of consistency in it. I never saw a worse paper in my life (Gilman 4). However, she becomes gradually obsessed with deciphering its meaning. As her mental disorder progresses, she starts suffering from hallucinations and finally concludes that actually there is a logic in the papers pattern. I have finally found out. () The front pattern does move and no wonder! The woman behind shakes it! (Gilman 16). The wallpaper portrays a woman who is ambushed in this illogical system. It is only her who can see the woman, and therefore, the womans only chance to set her free. Jane slowly looses the contact with reality, retreats into her obsessive fantasy. As the time passes by, she becomes the woman within the paper who simultaneously loses her identity. She disconnects herself from Jane and assumes new personality as well as perception of herself. The subsequent deterioration of the protagonists mental state reaches the climax when she locks herself in the room to finally tear all of the wallpaper in order to set the woman free from imprisonment. When John finds her, with all the decoration torn to pieces, the woman vigorously shouts out: Ive got out at last () in spite of you and Jane. And Ive pulled off most of the paper, so you cant put me back! (Gilman 21). The nar rator is finally free and there is no power which would imprison her again. She got rid of all chains, societal norms and constraints by total descent into insanity which surprisingly, turned out to be her only salvation. Secondly, the wallpaper may be a metaphorical equivalent for all restrictions imposed on women in the 1800s. In those times, women were condemned from intellectual work, forced to conform to the dependence of males and all rules of decent woman behaviour. It goes without saying that as a result women were helpless and oppressed. The title wallpaper is a confusing and complicated pattern in which the fictional woman appears. This may represents womens feeling of being lost in the oppressive and strongly hierarchical society and living in the world which does not appeal to them. The historically shaped division of the roles within family and marriage leaves its unbearable mark on womens lives. As the time passes by, our protagonist starts to identify herself with the imaginary woman. At this point, all the narrators fears and inner emotions are projected on the wallpaper. Societal constraints and norms overwhelm her and deprive of any chance to live her life to the full. The only way t o know peace is a complete fall into insanity. The last and probably the most outrageous interpretation of the wallpaper is the one proposed by Susan Lanser. She set the story in the political and ideological context of racial anxiety and nativism. Her immensely provocative thesis that the yellow wallpaper is a reflection on Yellow Peril questioned the common perception of it and triggered out a wave of surprise and consternation. The main symbol of the story with its colour which stands for dirt, urine, inferiority and uncleanness, seems to signify the racial otherness. The racism is in a way encoded in the wallpaper. In the late 19th century Western countries, especially the United States of America, faced with a massive immigration of East Asians. This process evoked the conviction that new comers would be a threat for the Whites job market and may change standards of living (Frost). Due to that Americans were so obsessive and hostile towards the representatives of the yellow race. On the basis of this information, we may inte rpret the protagonists tearing of the wallpaper from the wall as an act of getting rid of all unwelcome immigrants as well as an expression of hostility and racism. Moreover, to prove this thesis more reliable and feasible there is evidence that the author was personally an active supporter of racial uniformity. She belonged for a time to eugenics and nationalist organizations; opposed open immigration; and inscribed racism, nationalism, and classism into her proposal for social change (Lanser 429). Therefore, according to Horvitz, we may state that the narrators descent into nervous depression is in metaphorical terms a kind of escape to an utopian word in which there is no yellow, stained and smelly wallpaper, and in consequence no presence of other race. The Yellow Wallpaper by Charlotte Perkins Gilman is a perfect example of the symbolism in the literature. It plays a soul part of The Yellow Wallpaper. The main ideas, points are presented across it making the text more complex, intricate and interesting. The story is overfilled with various symbols such as the window, nursery and obviously the most influential one the wallpaper. It may be a clear reflection of the protagonists state of mind, indication of societal suppression and its principles or as Susan Lanser pointed out, the metaphor of racial discrimination. In my paper I presented only three of the possible interpretations of this particular symbol, but it goes without saying that one may come up with as many ideas and conclusions as possible.

Finding Hope in Their Eyes Were Watching God Essay examples -- Their E

Finding Hope in Their Eyes Were Watching God   Ã‚  Ã‚   Their Eyes Were Watching God recognizes that there are problems to the human condition, such as the need to possess, the fear of the unknown and resulting stagnation. But Hurston does not leave us with the hopelessness of Fitzgerald or Hemingway, rather, she extends a recognition and understanding of humanity's need to escape emptiness. "Dem meatskins is got tuh rattle tuh make out they's alive (183)" Her solution is simple: "Yuh got tuh go there tuh know there." Janie, like characters in earlier novels, sets out on a quest to make sense of her inner questionings--a void she knew she possessed from the moment she sat under the pear tree. "She found an answer seeking her, but where?...where were the shining bees for her (11)?" Though tragedy invades her life, it does not cripple her, but strengthens her. Alone at novel's end, having loved and lost, Janie sits in her home, banished of the "feeling of absence and nothingness (183)." Her road to discover led to herself, and she gains a better understanding of the world she lives in and how small a thing happiness is comprised of: "If you kin see de light at daybreak, you don't keer if you die at dusk. It's so many people never seen de light at all. (151)" Instead of Hurston portraying racial unwholeness, she portrays the African American as being racially healthy. She was discarded by the black writing movement of the 30's and 40's for picturing the African-American as whole instead of downtrodden, oppressed people. Hurston was no militant, out to prove no theory. Capturing the essence of Black womanhood was more important to her than social criticism.   Ã‚  Ã‚   Comparison of Hurston's life and work is ironic. Though Janie, having... ...ttp: 11 www. à ± hsc. usc.edu/ ~ gallaher/ hurston/ hurston. html>. Johnson, Barbara. "Metaphor, Metonymy and Voice in Their Eyes Were Watching God." Modern Critical Interpretations: Zora Neale Hurston's Their Eyes Were Watching God. Ed. Harold Bloom. New York: Chelsea House Publishers, 1987. Kubitschek, Missy Dehn. " ‘Tuh de Horizon and Back': The Female Quest in Their Eyes Were Watching God.† Modern Critical Interpretations: Zora Neale Hurston's Their Eyes Were Watching God. Ed. Harold Bloom. New York: Chelsea House Publishers, 1987. Pondrom, Cyrena N. "The Role of Myth in Hurston's Their Eyes Were Watching God." American Literature 58.2 (May 1986): 181-202.    Wright, Richard. "Review of Their Eyes Were Watching God." Zora Neale Hurston - Critical Perspectives Past and Present. Eds. Henry Louis Gates, Jr. and K. A. Appiah. New York: Amistad, 1993 Finding Hope in Their Eyes Were Watching God Essay examples -- Their E Finding Hope in Their Eyes Were Watching God   Ã‚  Ã‚   Their Eyes Were Watching God recognizes that there are problems to the human condition, such as the need to possess, the fear of the unknown and resulting stagnation. But Hurston does not leave us with the hopelessness of Fitzgerald or Hemingway, rather, she extends a recognition and understanding of humanity's need to escape emptiness. "Dem meatskins is got tuh rattle tuh make out they's alive (183)" Her solution is simple: "Yuh got tuh go there tuh know there." Janie, like characters in earlier novels, sets out on a quest to make sense of her inner questionings--a void she knew she possessed from the moment she sat under the pear tree. "She found an answer seeking her, but where?...where were the shining bees for her (11)?" Though tragedy invades her life, it does not cripple her, but strengthens her. Alone at novel's end, having loved and lost, Janie sits in her home, banished of the "feeling of absence and nothingness (183)." Her road to discover led to herself, and she gains a better understanding of the world she lives in and how small a thing happiness is comprised of: "If you kin see de light at daybreak, you don't keer if you die at dusk. It's so many people never seen de light at all. (151)" Instead of Hurston portraying racial unwholeness, she portrays the African American as being racially healthy. She was discarded by the black writing movement of the 30's and 40's for picturing the African-American as whole instead of downtrodden, oppressed people. Hurston was no militant, out to prove no theory. Capturing the essence of Black womanhood was more important to her than social criticism.   Ã‚  Ã‚   Comparison of Hurston's life and work is ironic. Though Janie, having... ...ttp: 11 www. à ± hsc. usc.edu/ ~ gallaher/ hurston/ hurston. html>. Johnson, Barbara. "Metaphor, Metonymy and Voice in Their Eyes Were Watching God." Modern Critical Interpretations: Zora Neale Hurston's Their Eyes Were Watching God. Ed. Harold Bloom. New York: Chelsea House Publishers, 1987. Kubitschek, Missy Dehn. " ‘Tuh de Horizon and Back': The Female Quest in Their Eyes Were Watching God.† Modern Critical Interpretations: Zora Neale Hurston's Their Eyes Were Watching God. Ed. Harold Bloom. New York: Chelsea House Publishers, 1987. Pondrom, Cyrena N. "The Role of Myth in Hurston's Their Eyes Were Watching God." American Literature 58.2 (May 1986): 181-202.    Wright, Richard. "Review of Their Eyes Were Watching God." Zora Neale Hurston - Critical Perspectives Past and Present. Eds. Henry Louis Gates, Jr. and K. A. Appiah. New York: Amistad, 1993

Great Expectations: A thematic analysis :: Great Expectations Essays

Great Expectations: A thematic analysis As the reader begins the book, Dickens instills in the reader a bond with Pip as it is through his eyes in a first person narrative. Dickens’ use of Pip as the narrator is very significant to the telling of the story. We are able to see the progression of Pip as he grows up and his views on the characters in the book. We form an idea about someone from their outward appearance, so having Pip as a narrator it creates a one-sided view about a character because we only see the world from Pip’s eyes and we feel most strongly what Pip is feeling and we feel, about other character what Pip feels about them. Dickens creates sympathy by telling the reader that Pip has never seen his mother & father, instead he sits on their graves trying to find clues that reflect their appearance and personality. Pip at this point is trying to emphasize that his father is superior to his mother, as the antithesis is shown with Joe and his sister. Dickens also tries to make the reader feel sympathy by referring to Pip’s name. On one level his name shows how isolated Pip is, this empathize that Pip created his own nickname. However on a symbolic level his name ‘Pip’ represents the start of life, a seed, as it grows toward its fate. Dickens is trying to emphasize to the reader the solitude of Pip, by using extended sentence structure to increase the tension and prolong the suffering. He also restates that Pip is all alone by using repetition on the word ‘dead’, implicating the loss of 5 of Pip’s siblings, as they died before they were born. The prolonged sentence structure also leads to an ominous word ‘savage lair’. This pathetic fallacy foreshadows the encounter which will make Pip’s life a lot worse. When Magwitch is first introduced, a sad and lonely atmosphere is already established. The fearful connotations in the atmosphere ‘place overgrown with nettles’, the isolated graveyard ‘dark flat wilderness’ and the symbolic place of death ‘the marsh country’ makes Magwitch appearance even more memorable. Magwitch’s social status becomes apparent when Dickens describes his handling of Pip. He addresses Pip in a very rough manner, shaking him and using harsh words. â€Å"Keep still you little devil or I’ll cut your throat!† .This portrayal of Magwitch emphasizes the fact that he is of a lower social class and this ties in with a stereotypical view that someone in the lower half of the social divide will be more likely to commit a crime. This reflects the

Leading Teams Essay

The following report presents an analysis of Shell Oil, and the ways in which it incorporates team leadership concepts in balancing stakeholder needs. Stakeholders are defined in The Times 100 case study Balancing Stakeholder Needs as â€Å"anyone who has an interest in what a business does or an influence on the business†. The case study continues on to identify Shell’s stakeholders as shareholders, employees, suppliers, customers, local communities, and interest groups. It is vitally important for large corporations such as Shell to balance the needs of these parties, in order to ensure profitable, safe and continuous operations. In order to do so, Shell must consider what the needs of each of these groups are, and how to use leadership to control the effects of conflicting needs. a) Making reference to appropriate theory what aspects of leadership and team dynamics may Shell have considered when considering their approach to balancing Stakeholder needs? The leadership tactics employed by Shell in balancing stakeholder needs will be varied, but will no doubt include an assessment of its vision and principles, the corporate leadership style, and how to construct its teams to maximise performance. The statement â€Å"Begin with the end in mind† (Covey 2004 cited Benson and Rice 2009a, p.3), gives a fair indication as to the purpose and necessity of a corporate vision. Where is the business going, and how is it going to get there? An essential element to leadership, a vision defines the goal that everyone in the company should be working towards. Kotter (1990, p.105) suggests that a key part of vision is â€Å"how well it serves the interests of important constituencies†. In other words, Shell should display balanced stakeholders needs in the company vision. According to Nanus (1992 cited Southwest Educational Development Laboratory, 1993), a vision should also display the following  characteristics, which Shell would likely have taken into account for each group of stakeholders: * Attracts commitment and energises people * Creates meaning in workers lives * Establishes a standard of excellence * Bridges the present to the future * Transcends the status quo. Shell publishes its vision, along with its core values and other operating principles in the Shell General Business Principles, which is widely communicated, and available for download from the company’s website. Shell has clearly recognised for quite some time the value and necessity for a vision in balancing needs, as the first set of principles was originally published in 1976 (Royal Dutch Shell plc 2005). It is important to separate leadership from management. Kotter (1990, p.104) states that â€Å"Management is about coping with complexity†, and that â€Å"Leadership, by contrast, is about coping with change.† And what is a vision, if not an anticipated change to the company? The management of change is a key role of leadership. The recent corporate restructuring and appointment of a new CEO in July 2009 (Wighton 2010), shows that Shell’s leaders are required to consistently react to changes such as market conditions, and adjust its focus to ensure al l stakeholder needs are still being met. The study of leadership in general has led to many differing leadership theories, which can essentially be divided into two categories; Behaviour Models, and Situational Leadership. Behaviour Models tend to address the personal traits of the individual leader, and Situational Leadership addresses a customisation of style to each new situation. While it is possible to apply some Behaviour Model theories to an organisation, it is more likely that Shell apply Situational Leadership methods, altering the balance of task vs. relationship dependent on which stakeholder group is being considered. Shell will also have spent considerable time finding the most effective teams for their business profile. Owing to the highly technical nature of Shell’s operations, there is a good possibility that it uses expert teams to ensure that shareholder needs are incorporated at every level of the organisation. For example, and expert in say, oil drilling, may not have the expertise to determine what effects a proposed course of action would have on the local  community. It is worth noting however, that it may be time for Shell to re-evaluate the effectiveness of its teams. Wighton (2010) reports that Shell has been â€Å"plagued by delays and budget overruns on big projects†, indicating that its teams are not performing. To ensure that stakeholder needs are being met, Shell will have incorporated ways in which to monitor and control performance within the organisation. Shell begins by reporting. It reports on several sectors of the business, to include annual financial reports, which are particularly relevant to shareholders, and sustainability reporting, which will be of interest to local communities and interest groups (Shell International B.V. 2010a). It became apparent, through the annual reporting to their shareholders in May 2009 that Shell had misinterpreted its shareholders needs. This resulted in a tense annual meeting where the shareholders voted 60% against the proposed incentive scheme for executives, which would have seen top executives receive large bonuses, even if they failed to meet performance targets (Lindsay and Pagnamenta 2010) b) How may Shell’s approach to balancing Stakeholder need’s impact upon employee motivation? There are two major motivational theories which are widely used in the field of management; Herzberg’s Two Factor Theory (1959 cited Boddy 2008, p. 500-502), and Maslow’s Hierarchy of Needs (1970 cited Boddy 2008, p. 494-497). The Two Factor theory suggests that there are two elements to motivation, Motivating Factors, and Hygiene Factors. Motivating Factors contribute to an employee’s satisfaction, and Hygiene Factors contribute to their dissatisfaction. The theory identifies these factors as: Motivating Factors| Hygiene Factors| Achievement| Company Policies| Recognition| Supervision| The work itself| Relationship with Supervisor and Peers| Responsibility| Work conditions| Advancement| Salary| Growth| Status| | Security| Herzberg went on to conclude that satisfaction and dissatisfaction are not opposites. The opposite of satisfaction is no satisfaction, with the opposite of dissatisfaction being no dissatisfaction. In other words, the absence of Motivating factors does not create dissatisfaction, and the existence of the Hygiene Factors does not create satisfaction. On the other hand, in the Hierarchy of Needs, Maslow speculates that everyone has a prescribed set of needs that must be met in a certain order, as follows: Maslow maintains that employees begin by looking to fill Physiological needs, for example a properly heated/cooled workplace. Only when Physiological needs are met, or mostly met, will an employee seek to fulfil their Security needs, for example a permanent contract. And so on through the other needs. Both of these theories have identified common areas of motivation relating to security (job security, salary), recognition (status, advancement, self-esteem, rewards), and job development (growth, achievement, self actualisation, responsibility). Regardless of which theory, if any, that Shell has chosen to adopt, these are the basic employee needs that they will need to have taken into account. It is a widely held belief that employees are a company’s greatest asset, which means that their role as stakeholders is an important one. If Shell is getting the stakeholder balance right, they will have addressed their employee’s needs, which should result in positive levels of employee motivation. As we saw in Question a) however, it is not always that easy to get the balance right. If Shell has favoured its shareholder needs, this could potentially lead to employee pay cuts and a reduction in safety costs, in order to maximise profits. If interest groups and local communities are favoured, this could potentially lead to the cancellation of new and innovative projects that would have allowed employees to develop new skills and achieve new discoveries. All of these outcomes would have a noticeably negative effect on employee motivation. If we are to believe Shell, it recognises this need for balance, and goes to great efforts to ensure that employee’s needs for recognition and job development are met (Shell International B.V. 2010b). It professes on its website: * â€Å"Joining Shell means getting more out of your working life than you thought possible.† (Shell International B.V. 2010b) * â€Å" [We make] every effort to provide the kind of rewards and benefits that will complement your own particular lifestyle and needs† (Shell International B.V. 2010c) Certainly, the testimonials offered by Shell employees, from every facet of the organization, seem to support these statements (Shell International B.V. 2010d). It is worth noting however, that nowhere in the literature published in the Jobs & Career section of the Shell website, does it address the subjects of job stability, employee safety, or personal security. It was reported by Wighton (2010) that within weeks of his taking over at the helm of Shell in July 2009, Peter Voser had cut 5000 jobs. Combine this with the inherent safety risks of the petrochemical industry, and the security risks associated with operations in locations such as Nigeria, and some doubt is cast on Shell’s ability to meet all of their employee’s needs. c) What conflict situations may Shell have needed to consider and manage in order to successfully achieve its balance towards Stakeholder needs? Shell has five main stakeholder groups, shareholders, employees, suppliers, customers, local communities, and interest groups (The Times 100 ca.2009, p. 133-136). The nature and the needs of each one of these groups differs to such a degree that conflict is nearly inevitable. â€Å"Conflict frequently has its roots in difference† (Benson and Rice 2009b, p.2), this statement supports the idea that conflict management can also be regarded as the management of differences. Shell’s balancing of stakeholder needs could essentially be redefined as management of the differences in stakeholder needs; or conflict management. With a multinational company such as Shell, listing potential conflicts could be a daunting task. To begin with, the shareholder’s need to earn the greatest dividends possible is obviously at odds with the em ployee’s desire for greater remuneration and benefits packages. The shareholder’s and employee’s dedication to innovative new technologies and projects may oppose the goals of interest groups who strive  to protect the environment and human rights, and local communities who are stretched to accommodate a new industry. The customer’s desire for a reprieve from the ever increasing cost of fuels is in direct opposition to a supplier’s objective of selling their product at the most profitable price. The list is virtually inexhaustible. Shell has incorporated measures throughout its organization to mitigate potential conflicts, which centre on ensuring balance, communication and involvement. The first and foremost of these measures is Shell’s decision making criteria (The Times 100 ca.2009, p. 136), which is specifically designed to achieve a good balance of stakeholder needs and provide a transparency by assessing: * the economic impact of the activity is likely to yield a good return for shareholders * the social impact will be suitable for employees and communities * the long-term effect of its activity will harm the environment As mentioned in Question a) Shell report openly and honestly on its activities and their effects, through financial and sustainability reporting. According to Shell, they have â€Å"voluntarily reported on our environmental and social performance since 1997 because this performance matters to our stakeholders and to our business success† (Shell International B.V. 2010a). This provides a consistent avenue for communication with stakeholders. The greatest volume of resources dedicated to mitigating conflict can be found in Shell’s social programmes. A brief review of its website reveals that it has no fewer than seven separate social programmes, which focus on a myriad of topics, from sustainable development, to road safety, to HIV/AIDS (Shell International B.V. 2010e). There is an underlying conflict however that is not so easy to identify, and which is not evidently addressed in the mitigation measures. It is the diversity of the stakeholders that presents Shell with perhaps the biggest challenge of all. In order to truly balance stakeholder needs, Shell must consider the cultures in which it operates, and strive to understand â€Å"the richness and strength of the many different facets of diversity, including age, gender, colour, race, ethnicity, religion, differing abilities (physical and cognitive), sexuality, socio-cultural and economic background† (Benson and Rice 2009c, p.2). This will not only affect the way in which it must represent itself in each region, but it will also have a great impact on the internal development of its teams in order to maximize performance.  Again, the management of differences between cultures becomes the management of conflict. d) Conclude by taking the key elements of your observations in steps a-c regarding Shell in order to make a recommendation for other organisations to consider implementing the approach of balancing Stakeholder needs as a means to business success? Shell Oil began as an antiques dealer in London, who diversified into importing shells from the Far East in 1833 (Shell International B.V. 2010f). This is a far cry from the multinational petrochemical company of today that is a recognized symbol around the globe. The business success that has propelled Shell from local antiques store to global giant will not have happened by accident. It will be well calculated and methodically achieved. This outstanding business success will certainly provide many other organizations with insight regarding balancing stakeholder needs which will be beneficial. First and foremost is the need for vision and leadership. Business success on the scale of Shell Oil cannot be achieved without establishing a vision of what that success will look like, and how to get there. A properly composed and communicated vision will essentially be the battle cry that enlists all of your stakeholders to joining in and making the increased business success a reality. To accompany this, it is necessary to embrace the ideas of leadership over management, after all, â€Å"No one yet has figured out how to manage people effectively into battle, they must be led† (Kotter 1990, p.104). Once a vision has been communicated, it will quickly lose momentum if the stakeholders are not informed of its progress. Tools to measure and disseminate the organisation’s and individual’s performance to the vision should be developed. No matter how inspiring the vision and enthusiastic the leadership, effective teams who are able to perform will be essential. Dependent on the type of organization, and its particular stakeholders, the team dynamic required to meet expectations will be different. For example, the approach to technical innovation required by Shell will not be needed in a non-profit organization that gives support to individuals through social programming. Research into effective team structures for the desired outcome is highly recommended. While no one group of stakeholders should overshadow the rest, it is perhaps the employees who will have the most complex needs to balance against the other stakeholders. Every organisation should ensure that the balance of stakeholder needs promotes positive employee motivation  in order to achieve its envisioned business success. A study of motivational theories should be undertaken to understand the various factors, before assessing them within the organisation. As concluded in Question b), Shell has heavily promoted its ability to meet the job development and recognition needs of its employees, though it may have fallen down on fulfilling needs such as job and personal security. This will in part be owing to research and feedback directly from their employees. The employees most valuable to Shell and achieving its vision may be those who are eager to participate in the innovative and technical projects that Shell has to offer, and are willing to sacrifice in other areas as a result. Every organisation should work with its employees to determine what their needs are against the desired outcomes of the company, before assessing how these needs will fit into the balance of stakeholders. An organisation who is striving to achieve business success would benefit from approaching the balancing of stakeholder needs as if it were the management of differences in needs, in other words, conflict management. Consistent communication will be required with each stakeholder group in order to identify and discuss potential conflicts. This will allow the introduction of appropriate mitigation measures within the balance. It is acknowledged that not every organisation will be conducting multinational business; however careful research into the diversity of the stakeholders is recommended. This will allow the organisation to harness the differences within its stakeholder groups, with a view to maximising potential for performance. This report has summarised some of the key areas addressed by Shell Oil in its balancing of stakeholder needs, and has made some high level recommendations for other organisations to consider. Any organisation that is keen to achieve business success will no doubt find value in research regarding Shell’s approach. References Benson, A., and Rice, M., 2009a. Developing and Sustaining Effective Teams Guide 2: What are you there for? Setting Objectives. London: Royal College of Nursing. Available from: http://www.rcn.org.uk/__data/assets/pdf_file/0003/78735/003115.pdf [Accessed 02 February 2010]. Benson, A., and Rice, M., 2009b. Developing and Sustaining Effective Teams Guide 6: Some thoughts about conflict. London: Royal College of Nursing. Available from: http://www.rcn.org.uk/__data/assets/pdf_file/0003/78735/003115.pdf [Accessed 02 February 2010]. Benson, A., and Rice, M., 2009c. Developing and Sustaining Effective Teams Guide 4: Is everyone involved? Diversity. London: Royal College of Nursing. Available from: http://www.rcn.org.uk/__data/assets/pdf_file/0003/78735/003115.pdf [Accessed 02 February 2010]. Boddy, D., 2008. Management: An Introduction. 4th ed. Edinburgh: Pearson Edutcation. Kotter, J.P., 1990. What Leaders Really Do. Harvard Business Review, 68 (3), 103-111. Available from: Business Source Premier, EBSCOhost [Accessed 31 March 2010). Lindsay R. and Pagnamenta, R., 2010. Shell tries to appease investors with caps on pay. The Times, 17 February. Available from: http://business.timesonline.co.uk/tol/business/movers_and_shakers/article7029759.ece [Accessed 21 April 2010]. Royal Dutch Shell plc, 2005. Shell General Business Principles. The Hague: Shell International Limited. Availa ble from: http://www.shell.com/home/content/aboutshell/who_we_are/our_values/sgbp/sgbp_30032008.html [Accessed 03 April 2010]. Shell International B.V., 2010a. Our approach to reporting. The Hague: Shell International B.V.. Available from: http://www.shell.com/home/content/environment_society/approach_to_reporting/our_approach/our_approach_to_reporting_26042007.html [Accessed 03 April 2010]. Shell International B.V., 2010b. Jobs & Careers. The Hague: Shell International B.V.. Available from: http://www.shell.com/home/content/careers/ [Accessed 03 April 2010]. Shell International B.V., 2010c. Rewards & Benefits. The Hague: Shell International B.V.. Available from: http://www.shell.com/home/content/careers/professionals/rewards_and_benefits/professionals_rewards_benefits_13092006.html [Accessed 03 April 2010]. Shell International B.V., 2010d. Meet Our Professionals. The Hague: Shell International B.V.. Available from: http://www.shell.com/home/page/careers/our_people/tool/app_xp_meet_ our_people.html [Accessed 03 April 2010]. Shell International B.V., 2010e. Programmes. The Hague: Shell International B.V.. Available from: http://www.shell.com/home/content/environment_society/society/our_neighbours/social_investment/programmes/ [Accessed 03 April 2010]. Shell International B.V., 2010f. The beginnings. The Hague: Shell International B.V.. Available