What Happened to Muses Essay Example | Topics and Well Written Essays - 500 words

What Happened to Muses - Essay Example They find the inspiration in something else. Usually these methods to get it are not right and decent: drinking alcohol, using drugs etc. Not very long ago actual women, wives or girl-friends, played a role of Muse for some artists. Today it is not necessary to an artist to have a Muse. In ancient times three Muses were divine creatures and the daughters of Zeus. Their mother, Mnemosyne, was the goddess of memory. Hesiod decided to expand the number of muses, so now we know nine: Clio, Calliope, Euterpe, Terpsichore, Melpomene, Thalia, , Polyhymnia, Urania, Erato. Nine Muses were given different roles later by Romans: Clio was the muse of history, Erato of lyric poetry, Polyhymnia of sacred poetry and so on. Nine muses were considered to be kind, caring creatures. According to Hesiod, they came to the chosen and lucky artist and presented him with their invaluable gifts. At the same time Muses could punish artists and other creatures. We all know how they punished Sirens when they want to compete with them: they made them loose their wings and Sirens fell into the sea. The power of the ancient Muses was transferred to the modern ones. Many modern Muses were mostly strong women with difficult characters and interesting lives. Among them we can define Gala, the Muse of Salvador Dali, Georgia O’Keeffe, the Muse of Alfred Stieglitz, and many other. In the 21st century it is not very easy to find a Muse. Some artists still have Muses, very often they are their own wives, but the relationships between them does not have an element of divinity any more. They are just partners and their relations are the relations between two people, just human beings, usually with equal talent. Women do not limit themselves to the role of Muses any more, they want to create masterpieces themselves. Feminist ideas do not allow to treat women as objects. Muses did not completely disappear, just the idea of them was changed.

Henry David Thoreau Essay Example for Free

Henry David Thoreau Essay Transcendentalism is a very important movement that occurred not only in literature but in life as well. The transcendentalist movement was a movement that was basically the thought of everyone having an over-soul. The over-soul is the thought of a relationship between God, nature, and man. The movement had many different characteristics like individuality, feelings being priority over reason, the fact that nature was divine, and that nature held truths. Transcendentalists used the truths that they observed in the world and in nature to change the way society was and how people see themselves in the world. Although the idea of a utopia was not successful, the movement sparked a change in literature. Emerson and Thoreau are the two people most associated with transcendentalism. They both wrote essays about their experiences in nature and influenced many other writers to do the same (hence the transcendentalist movement). The transcendentalist thought is especially apparent in Walt Whitman and Emily Dickenson’s work. Whitman and Dickenson both show many traits of the movement, but the most apparent trait is individualism. Individualism is often portrayed in Emerson and Thoreau’s work as being equal. Everyone has a soul, inner truth is the only thing that matters, and fulfillment comes from knowing one’s self. In Emerson’s essay Nature, he describes man as being universal and related. In the quote â€Å" . . . that great nature in which we rest . . . that Unity, that Over-Soul, within which every mans particular being is contained and made one with all other. . . . We live in succession, in division, in parts, in particles. Meantime within man is the soul of the whole; the wise silence; the universal beauty, to which every part and particle is equally related; the eternal ONE. † Emerson is saying that all men have souls and that each soul is a part of an even bigger soul, the universal soul. This is basically saying that we are all equal, but at the same time we are separated because we each have a soul of our own. In another essay, self-reliance, he stated â€Å"Is it so bad, then, to be misunderstood? Pythagoras was misunderstood, and Socrates, and Jesus, and Luther, and Copernicus, and Galileo, and Newton, and every pure and wise spirit that ever took flesh. To be great is to be misunderstood†¦Ã¢â‚¬  In this, he is saying that being misunderstood is being great. This also says that being misunderstood is forgetting what society says you should be or act like and doing what you want to do in order to find yourself and be your own person. By not caring about what others may think about your choices and decisions, you can be your own person and set an example for others to do the same. Not only was Emerson talking about being an individual, he was also adding a bit about your feelings being more important that reason. Thoreau also writes about individualism in his essays. In Walden, Thoreau writes about the experiences and life of his life. He writes â€Å"†¦ if one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet success unexpected in common hours. † This is saying that you should live the way that you want to live and that your inner truth or inner desires are all that matter. Everyone has inner truth and desires and to live the life that you want to live then you should go for the dreams that you have always wanted to come true. This is a prime example of individualism because everyone has dreams and inner truths about the way that they want to live and it is completely up to them to live the way that they want to live. He also addresses individualism in another essay titled Civil Disobedience. He writes â€Å"But, to speak practically and as a citizen, unlike those who call themselves no government men, I ask for, not at once no government, but at once a better government. Let every man make known what kind of government would command his respect, and that will be one step towards obtaining it†¦Ã¢â‚¬  In this, he is encouraging people to take a stand for the rights and respect they deserve. In a way, he is telling people to stop ignoring the unfair government and do something about the way you feel. This is showing again how everyone has inner truth and they should do something to change the way the world is to be better. Thoreau wanted the government to change and so he spoke about what he believed to be true. This is him showing his individualism and encouraging others to speak up as well about the truth that they believed. Like Emerson and Thoreau, Whitman and Dickenson have both used individualism in their works, but Whitman does a better job at portraying it. In Whitman’s poem ‘Song of Myself’, Whitman writes about everyone being equal and having equal opportunities. He states â€Å"I am of old and young, of the foolish as much as the wise, regardless of others, ever regardful of others, maternal as well as paternal, a child as well as a man, stuffed with the stuff that is course, and stuffed with the stuff that is fine † In this quote he is comparing total opposites to each other. This is a way of showing how even the opposites are the same. Regardless of others, ever regardful of others means that others mean nothing to you, yet others mean everything to you. It’s contradicting, but in a way that says although others mean nothing to you, they affect you in certain ways. Everyone affects you, but you are not everyone. You are simply yourself and that is what I get from what Whitman was describing. In another part of the poem, Whitman says ‘I am as bad as the worst, but thank God, I am as good as the best. ’ This quote stands out because it means no one is better than anyone. Just because you don’t get in trouble doesn’t mean you are any less wrong or less bad. Just because you do good things doesn’t mean you are any better! Being good is simply being good and the same goes for being bad. No one is any better or worst. This means that everyone is equal and has equal opportunities. Dickenson also uses individualism as a theme in some of her works as well. In the poem ‘Heaven Has Different Signs—To Me’, Dickenson writes â€Å"The Rapture of a finished Day—Returning to the West—All these—remind us of the place, That Men call paradise† In this poem Dickinson is describing what heaven would be like. This quote refers to the end of the day for men. Individualism is living the way you want and reaching fulfillment. This quote shows how men are fulfilled in their lives and of what they call paradise. To me, I don’t think she is writing about heaven, I think she is writing about a utopia. She is writing about a place that everyone is equal and enlightened. Dickinson and Whitman both write about being equal and living the life that you want to lead. Even though they both write about individualism, Whitman portrays it much more and it is more apparent. They were both influenced by the transcendentalist movement, but Dickinson focuses on other traits like how nature is beautiful and simple and the relationship that nature, life, and death have. The transcendentalist movement may be over, but it left an imprint in literature. Many people speak of individualism and the name most associated with it in the movement is Walt Whitman. Works Cited Poemhunters. com. N. p. , n. d. Web. 20 Feb. 2013. Quotations by Author. Walt Whitman Quotes. N. p. , n. d. Web. 20 Feb. 2013. Thoreau, Henry D. Civil Disobedience by Henry David Thoreau. Civil Disobedience by Henry David Thoreau. Jone Johnson Lewis, n. d. Web. 20 Feb. 2013. Thoreau, Henry D. Walden. N. p. : Jalic, 2003. Print. Whitman, Walt. (1836)Nature. Nature by Ralph Waldo Emerson. Oregon State College, n. d. Web. 20 Feb. 2013. Whitman, Walt. Self Reliance. Mrgunnar. net. N. p. , n. d. Web. 20 Feb. 2013.

Barclays’ Internal and External Customers :: Business Management Studies

Barclays’ Internal and External Customers Barclays offers a wide range of services to both internal and external customers. Internal customers are member of staff/colleagues that work in an organisation. Examples of internal customers in Barclays include: Small Business Managers, Customer Relations Team, telephone operators, Financial Planning Managers, Customer Service staff, Counter staff, Accountants, Consumer Relations Team, and Relationship Managers. External customers are the majority of individuals who lives in the local areas. Examples of external customers of Barclays include: disabled people, elderly, foreign people, parents, couples, widows, divorcees and students (from schools, colleges, and universities). Internal customers Barclays has number of internal customers who works for them, and also does banking with them. About 5% of accounts belong to Barclays’ staff. It is very important for Barclays to have internal customers because, without them, the financial organisation will have difficulties to meet the needs of external customers. For example, if you image the organisation as an iceberg, only 1/10th is above the water (the external customer), but 9/10th is hidden below the water (internal customers) which, is supporting external customers. This good example of importance of internal customers was extracted from the following website: www.citysun.ac.uk/newonline/customercare/task1/intro.htm. So, if you remove the bottom half of the iceberg (internal customers), top half of the iceberg (the external customer) will sink- in the other words, the whole organisation will come to an end. It is important for Barclays to treat their internal customers in the same way, as they treat their external customers. The advantages of having internal customers to employees: * Better working conditions * Better job satisfaction * Less stress * Having the ‘feel good’ factor * Being part of a good working team The advantages of having internal customers to the organisation: * Less waste and stoppages * Improved communications * A happier workforce * Fewer problems * Increased customer loyalty * Better service to external customers The advantages of having internal customers to the external customers: * A higher, sustained level of service * Faster responses times * Knows that the organisation cares As a result, internal customer care is based on good manners, knowing where your job fits in, working efficiently with colleagues, working as a member of a team, and respecting colleagues’ needs and rights. Organisations, such as Barclays believe that, there are three kinds of attitudes and behaviours towards colleagues that would be essential for quality internal customer care: 1. Caring for colleagues- this would include: making individuals feel good- this will help them to work better, they would become more cooperative, responding reasonably to their needs, and accepting a sense of shared responsibility 2. Cooperating with colleagues- this would include: can get things

Neoclassicism in Architecture

Neoclassicism is the name given to Western motions in the cosmetic and ocular humanistic disciplines, literature, theater, music, and architecture that draw inspiration from the â€Å" classical † art and civilization of Ancient Greece or Ancient Rome. The chief Neo-classical motion coincided with the eighteenth century Age of Enlightenment, and continued into the early nineteenth century, recently viing with Romanticism. In architecture, the manner continued throughout the 19th, 20th and up to the twenty-first century. Neoclassicism is a resurgence of the manners and spirit of authoritative antiquity inspired straight from the classical period, which coincided and reflected the developments in doctrine and other countries of the Age of Enlightenment, and was ab initio a reaction against the surpluss of the predating Rococo manner The term â€Å" Neoclassic † was non invented until the mid-19th century, and at the clip the manner was described by such footings as â€Å" the true manner † , â€Å" reformed † and â€Å" resurgence † ; what was regarded as being revived changing well. European Neoclassicism in the ocular humanistic disciplines began. 1760 in resistance to the then-dominant Baroque and Rococo manners. Rococo architecture emphasizes grace, ornamentation and dissymmetry ; Neo-classical architecture is based on the rules of simpleness and symmetricalness, which were seen as virtuousnesss of the humanistic disciplines of Rome and Ancient Greece, and were more instantly drawn from 16th century Renaissance Classicism. From France began, advanced interior decorators began to direct work to simplify the traditional betterment, use a batch of new stuffs and procedures, but besides retains the classical plant of elegant and dignified elegance. This manner rapidly achieved success throughout Europe followed suit, has since become Europe ‘s neo-classical place civilization typical genre of import one, since infinity. New classical Chinese furniture is by and large darker colourss, flavor books appear darker. A alteration in the traditional Chinese manner furniture serious dull in colour more affinity for traditional Chinese furniture job of deficiency of comfort is besides greatly improved: some blunt Chinese furniture wood stuff can besides be fused modern soft cloth, furniture lines progressively the more humane, more ergonomic demands in the furniture. The other is the European neo-classical furniture, in colour or magnificence, or fresh and chip, or old-timer, manner and more manner. Feature contour lines began to abandon the complicated rococo period ornament, the chase of simpleness while continuing the natural beauty of European furniture. Neo-classical furniture can be divided into the new classical Chinese furniture and European neo-classical furniture classs. New classical Chinese furniture has changed the traditional Chinese furniture serious dull manner. Contour lines feature European-style neo-classical furniture is get downing to abandon the complicated rococo period ornament, the chase of simpleness while continuing the natural beauty of European furniture. Whether the new classical Chinese furniture or the Continental neo-classical furniture manner and inside informations of how different, still the chase of comfort and modern-day furniture. In the neo-classical furniture is the most of import feature is that neo-classical furniture emphasized that the â€Å" new † , instead than retro. The â€Å" new † non merely refers to new manners of furniture, refers more to the â€Å" new † content on the furniture. As described in the new classical Chinese furniture and European neo-classical furniture in visual aspect compared with traditional furniture is different and improved, but from the people ‘s deep-rooted mental position alterations and inventions. Of class, blindly freshness while disregarding the traditional civilization in the same place in the furniture is non desirable. In the neo-classical, the characteristic long as colour, followed by the furniture and trappingss. In the neo-classical, both in furniture and trappingss being able to speak Rococo and Baroque comparing, although neoclassicism is baronial and beautiful, but really practical in footings of stuffs, but besides in the stuff cost is comparatively inexpensive, so many people will follow this manner. In colour, the colour choice more stable, do non utilize bright colourss, such as: visible radiation blue, white, and so on are common. In Neoclassical colour read on more comfy, but do non experience excessively excessive, it will non experience excessively much force per unit area in the infinite. In the modern and neoclassical, and their features are beautiful and unsophisticated, simple, gorgeous, etc. and, secondly, in footings of colour and trappingss, more stable because of the colour of fresh colour is non used, so that the full infinite becomes soft and baronial. In footings of trappingss may be a figure of pictures, mirrors and the similar, non some fancy trappingss and provincial places. In today ‘s, the house is non air, many people want to utilize a little infinite into a baronial and comfy house, while on the right neoclassical modern head, so today is really popular. Neoclassic manner into a modern society, most of them appear in the furniture, for illustration: form, furniture characteristic is that there may be Phnom Penh. Among the neo-classical, the form is frequently used, it is a ornament, so we may utilize in beds, couchs and so on furniture, the whole infinite becomes baronial and elegant. As to the current neo-classical inseparable from our life because of his practical, colour, ornament, and so it is in line with today ‘s aesthetic vision, we can hold a ocular dainty, and neo-classical with a simple, non complicated, comparatively simple, there is a fresh feeling. In add-on to comfort, the kernel of classical manner is really suited for modern society. In ocular footings, people go to work outside the place is the topographic point to be the oldest, to hold a comfy infinite that people have been looking for, in add-on, the place is a topographic point to entertain invitees, when entertaining invitees, give grasp is one of the amour propre of people, so people will care about place design, but is old and neo-classical manner with a small manner, is possible with the ocular aesthetic enjoyment of contemporary society. In colour, the colour of the neoclassical are comparatively stable, non bright, I feel more fresh and comfy. Due to the impact on the environment, people want place design is more natural, so the neoclassical on line with the modern conditions, colourss more natural, and without strong feeling, for illustration: You may utilize brown ruddy without using bright ruddy, because it was excessively strong bright ruddy, and brown ruddy comparatively stable, so the usage of colour is more particular. In add-on, apart from the usage of colour instead particular sense of manner is something of concern, because people are prosecuting cutting-edge tendency, if the house looks to manner, with colour is besides really of import, and neo-classical colourss outside steady besides have a manner sense, so to be in line with the modern. In ornament, because neoclassical comparatively simple, so will non be excessively many cosmetic and ornate, modern is really appropriate, because less infinite, in order to salvage infinite, or may be put on the couch or wall pictures do some form, because neoclassical oppose gorgeous Baroque and Rococo manner, but it will mime the decor, so with a small ornament is baronial, if the cosmetic neoclassical integrating in modern times, is non the same and with particular point manner sense, but besides to run into the temper of the full infinite, because neoclassical manner is more accent on the importance of the ambiance, whether it is furniture or cosmetic points can besides do a particular atmosphere in the modern but besides really particular. Last, in today ‘s society, neoclassicism is really popular, has non disappeared because of this neo-classical manner is comparatively simple, the colour of the stuffs used are more stable, and is a really comfy infinite. Meanwhile, more practical facets of quality stuffs, fit people are more concerned about money attack is more cosmetic, but at the same clip the provincial place, fresh and yet with fashionable, in line with the demands of modern society. In add-on, the neo-classical manner and modern merger is besides really suited, for illustration: Phnom Penh couch, Zebra is one of cosmetic furniture and so on ; the whole infinite is comparatively simple and non complicated, is ideal for a batch of people at place, but outside the house local can besides be used with, because neoclassical is expensive with a high elegant ambiance in the promenade can still see, followed by cosmetic points besides in line with our demands, neoclassical aureate ratio is in line with the organic structure design, so people like neoclassical design is a ground, because he was in line with the aureate ratio, our furniture merchandises besides meet all of our ocular effects, we are able to bask every minute of comfort. Second, because neoclassical design is nostalgia, but every bit long as altering the point will be a really fashionable infinite and convey out the elegant ambiance, for illustration: batch green and white of the lucifer, but besides show the neoclassical manner.

Amway India Case analysis Essay

CASE B-6: AMWAY INDIA Assignment Presented to Dr. G. N. Braithwaite-Sturgeon as per the requirements of International Marketing ADM4328 M University of Ottawa January 22nd 2013 BUSINESS CONTEXT & INITIAL SITUATION Amway, a North American Multinational, subsidiary of Alticor Inc. has over the years become one of the leaders in the 90 billion dollar direct selling industry through its use of multi-level marketing and creation of networks of independent business owners and sales. Founded in 1959 by Jay Van Andel and Richard DeVos, the company grew and captivated interest on an international level, especially in developing countries due to its ability to provide entrepreneurship opportunities. Amway’s range of 450 products and services are distributed worldwide in over 90 countries in a variety of sectors such as: wellness, beauty, home care, commercial, insurance, education and nutritional care. India’s growing economy made it one of Amway’s many targeted countries, and, in May 1998, Amway India commenced its business operations. After 36 million dollars of investment in the Indian market, in 2002, Amway India came under some legal issues when Indian officials and the State Government of Andhra Pradesh registered a criminal complaint against Amway India Corporation and concluded their creation of a chain of distributors was operating against the Act Prize Chits and Money Circulation of 1978. Today, in 2013, Amway has continued its operations within the country and has even expanded into a 100 million dollar colour cosmetic segment. Business is booming but Amway Corporation’s future endeavours within India hang in the balance of its legal conclusions. PROBLEM Despite the fact that Amway Corporation has experienced tremendous international success, they are now facing legal concerns in India with respect to their direct sales practices. These legal issues tied to the creation of a chain of distribution that may be in violation of the law as defined in and prohibited by the Prize Chits and Money Circulation Schemes (banning) act of 1978, have the potential to negatively influence their profit margins and bottom line, and in turn, affect the corporations reputation and international brand. All of the Corporation stakeholders are experiencing uncertainty with the company’s future in India. SWOT Analysis Internal Analysis Strengths: – Amway’s Starter Business Kits are available at a low investment cost and are fully refundable within 90 days. This along with the corporation’s free and extensive training seminars make it accessible and enticing for potential distributors and independent business owners. – Amway Corporation has a large distribution network and international coverage. – Aggressive product launches with products backed with a 100% customer product Refund Policy create an image of low financial risk to the consumers. Weaknesses – Limited sales approach – direct selling – Negative consumer perception- impression of pyramid selling scheme – Amway’s is illustrating an ethnocentric marketing strategy; it is using the same strategy in India as it is in the United States with no adaptation. External Analysis Opportunity – The Corporation has a national and international scope because of its ability to provide entrepreneurship opportunities at the micro-level globally – an impressive market opportunity for Amway in the direct sales sector. – India’s economy in booming, increasing disposable income. – There is a large focus on materialistic possessions and beauty in Indian women within the country’s urban and metropolitan areas, making it easy for distributors and IBO’s to sell a variety of Amway products. Threats – Legal policies change from one country to another; India’s laws could prevent Amway to continue its operations in that particular country. – Government policies can change at any moment and inhibit the ease of operation in a specific market. – Little to no control over the marketing and sale of their products: Independent business owners have a lot of freedom to make those decisions. – Competitors such as other multinationals or corporations (Ex: Avon and Mary Kay) create threats for market share. OPTIONS Option #1: Planned Exit of the Indian Market & Exploration of Other Potential Markets. Main Pros: – If Amway were to implement a planned exit of the Indian market, it could sell off its current existing products while they still were able to execute business within the market and not experience any unexpected losses. – Amway Corporation would not have to spend additional time, effort and money in legal litigations and negotiations. – The corporation’s time could be focused on exploring other potential markets within neighbouring countries with fewer legal restrictions on the distribution of their products. – If neighbouring countries are tapped, the existing investment in India’s manufacturing plants and machinery can still be used for fabrication of products for neighbouring countries. Main Cons: – Neighbouring countries could present little to no interest in adopting business practices from Amway Corporation, or could present little to no profit for the company due to the varying national economic situations. – Loss of the 36 million dollar investment (including the 17 million state-of-the-art manufacturing facilities invested in India. – Extremely large loss on potential profits in that particular market. – Loss of direct and indirect jobs for the Indian citizens. – Failure in such a large market could harm the company’s image within the minds of the consumers. Option #2: Continue Business and Expansion in India Main Pros – The company could continue making profits within the country while fighting the legal battles. – Little to no research or change needs to be made to the business model or marketing strategy. – The expansion will create more jobs and revenues, benefiting both India’s citizens and the corporation itself. Main Cons: – Amway could be forced out of the market if the court supports the government’s view that the corporation is in violation of the Prize Chits and Money Circulation Act. – Product lose is possible if Amway is forced out of business within the country; the IBO’s and distributors could keep all products they have on hand, instead of giving it back to the corporation. – Further investment in legal fees would be incurred. – Loss of time and human capital would be lost to the investment in winning the legal litigations. Option #3: Continue Business and Expansion in India with Ethocentrism; define a new marketing or distribution plan for its business in India that complies with the country’s legal constraints. Main Pros: – The company could continue to operate within the country, maintain its market share. – Amway India would benefit from India’s growing economy and large population. – If Amway had global integration with local responsiveness, they could attain a larger market share and increase sales. – There would be little to no investment on legal issues. Main Cons: – Amway would have to invest in environmental scanning. – There would be an initial investment in marketing costs to alter and implement a new marketing strategy. – The new marketing strategy could ultimately fail, leading to loss in marketing investments. RECOMMENDATION: After careful consideration of the options listed above, the recommendation that I would give to Amway Corporation would be option #3; to continue business and expansion in India while developing a ethnocentric marketing strategy – a marketing strategy specific to that country in compliance with its laws on product distribution. It is important for Amway to continue its operations within India as it is a market that presents many current and future opportunities. This option presents the most benefits to the company’s future success within the market and illustrates the lowest risk and least amount of potential loss. IMPLEMENTATION: The implementation of option 3# is as follows: Short term (0-6 months) Within the short term, Amway India would continue its regular proceedings within the country. It would have to do extensive environmental scanning to develop a deepened understanding of India’s economical, social, environmental, technical, and most importantly its legal aspects. I would also recommend that in the first six months, Amway Corporation should develop further market research, to enable them to ensure a positive corporate image within the minds of the distributors and the consumers. Medium Term (6-12 months) Following the research phase, Amway should develop the Indian Marketing Strategy; a strategy that complies within all of the political and legal requirements for sound business practice. Long Term (12+ months) Lastly, Amway Corporation will put in place its new Marketing strategy for Amway India. It will have to monitor its results and make minor changes along the way. *All information taken from textbook and lecture notes

Telecommunication within ARAMCO

Telecommunication within ARAMCO Saudi Aramco is the national oil company for Saudi Arabia and manages the world’s largest crude oil reserves. Over the years, the company has developed into an international petroleum enterprise with expertise in exploration, production, refining and sale of petroleum products.Advertising We will write a custom report sample on Telecommunication within ARAMCO specifically for you for only $16.05 $11/page Learn More The company is also responsible for gas processing that is a major contribution to the it’s economy. It also provides other services to its employees such as hospitals and several fire stations that serve both the company and its surrounding residential areas. The company has employed various forms of telecommunication such as the use of emergency telephone help lines in order to cater for the safety of its workers, the public and even the environment in case of a disaster (Comer 2006). In maximizing the extraction and use of oil and gas, the company has integrated detailed electronic and human networks. A well established fiber optic technology system that supports high bandwidth voice and data communications has been set up enabling authorities to monitor performance of sea operations from land. It also operates a radio mobile network for its operational areas. A detailed company website is also another means by which the company is able to advertise its products and services to the entire world. This lessens time and distance barriers enabling the company to survive in the current competitive marketplace. In regard to the rapidly changing technological environment, ABC communications would like to offer a proposal for the assessment of in-place telecommunication equipment to determine whether they are effective, efficient and economical. This will ensure that the company is up to date with the current telecommunication advancements as it involves analyzing the future viability of the current systems in place while scrutinizing their impact on the achievement of organizational goals. Achievement of the above will entail the following:Advertising Looking for report on communications media? Let's see if we can help you! Get your first paper with 15% OFF Learn More A cost/benefit analysis of the telephone and computer systems in use with an upgrade of the systems where necessary. If however, they’re inefficient then new systems may be installed. Offering cheaper alternatives for office communication such as high speed wireless internet services. Installation of the latest fiber optic technology into the system which translates to increased number of calls that can be carried and improved information security as it is difficult to tap into fiber optic cables without detection. Developing streamed videos as a marketing strategy thus enabling customers and stakeholders to browse large files in real time as users can view streamed multimedia as it is being rece ived. Setting up an internet office to store accessible files, phone numbers, email addresses and more especially for employees making it possible for co-workers to send and or receive important documents. Assessment of the company’s internet security and prevention of unauthorized access to corporate computer data. This is by means of constructing an internet firewall with a purpose of limiting access into and out of the network based on the company’s access policy Assist company personnel to identify problems in telecommunication and propose resolutions. Details of the price of the contract will be issued to the company on written acceptance of the proposal. My proposal is to carry out the above at the beginning of the next financial year beginning 1st April 2012. In carrying out the above, due to the sensitive nature of information likely to be acquired, I assure confidentiality on any classified company information that I come across when working with you. Our emp loyees will demonstrate professional competence and due care in performance of their duties. Reference Comer, D. (2006). Computer Networks and Internets. New Jersey: Prentice Hall.

Example Sentences of the Verb Know

Example Sentences of the Verb Know This page provides example sentences of the verb Know in all tenses including active and passive forms, as well as conditional and modal forms. Base Form know / Past Simple knew / Past Participle known / Gerund knowing Present Simple He knows a lot of people in Paris. Present Simple Passive The President is known to be in trouble. Present Continuous None Present Continuous Passive None Present Perfect They have known each other for years. Present Perfect Passive The facts in the case have been known since last year. Present Perfect Continuous None Past Simple She knew it was time to leave. Past Simple Passive The story was known by all in the room. Past Continuous None Past Continuous Passive None Past Perfect They had known about the problem before they told him. Past Perfect Passive The problem had been known about by all before they told him. Past Perfect Continuous None Future (will) She will know its you. Future (will) passive You will be known by everybody in the room. Future (going to) She is going to know the answer soon. Future (going to) passive The answer is going to be known at the end of the lesson. Future Continuous None Future Perfect They will have known Jack for twenty years by the end of this month. Future Possibility She might know the answer. Real Conditional If she knows the answer, she will tell you. Unreal Conditional If she knew the answer, she would tell you. Past Unreal Conditional If she had known the answer, she would have told you. Present Modal Andy should know the answer. Past Modal Andy should have known the answer. Quiz: Conjugate with Know Use the verb to know to conjugate the following sentences. Quiz answers are below. In some cases, more than one answer may be correct. They _____ about the problem before they told him.The President _____ to be in trouble.The facts in the case _____ since last year.They _____ Jack for twenty years by the end of this month.If she _____ the answer, she will tell you.The story _____ by all in the room at the trial yesterday.They _____ each other for years.He _____ a lot of people in Paris.If she _____ the answer, she would have told you.She _____ its you. Quiz Answers had knownis knownhave been knownwill have knownknowswas knownhave knownknowshad knownwill know

SAT Literature Subject Test Information

SAT Literature Subject Test Information    When some people hear the word, Literature, they cringe out of habit. Literature makes things like movies, magazines, books and plays – stuff you actually want to enjoy – seem stuffy or out of date. But, if youll remember that the term is just a fancy way of saying, entertainment it wont be so daunting when its time to be tested on something like the SAT Literature Subject Test. Note: The SAT Literature Subject Test is not part of the SAT Reasoning Test, the popular college admissions exam. Its one of the many SAT Subject Tests, which are also offered by the College Board. SAT Literature Subject Test Basics So, what should you expect when you register for this SAT Subject Test? Here are the basics: 60 minutes60 multiple-choice questions based on 6 to 8 different literary passages200-800 points possible SAT Literature Subject Test Passages The SAT Literature Subject Test is very narrow in its scope. Remember, this is a Literature test, not a reading test, which is quite different. You will not be reading nonfiction like excerpts from memoirs, passages from biographies or samples from textbook. Nope! These six to eight passages of literature excerpts will look like this: The Genres: Approximately 3-4 of the passages will be prose (excerpts from novels, short stories, and essays).Approximately 3-4 of the passages will be poetry (either complete or shortened if the poem is long).Approximately 0-1 of the passages could be drama or other forms of literature (legends, fables, myths, etc.). The Sources: Approximately 3-4 of the passages will come from American Literature.Approximately 3-4 of the passages will come from British Literature.Approximately 0-1 of the passages could come from literature from other countries. (Indian, Caribbean, and Canadian excerpts have been used in the past.) The Age of the Passages: 30% of the passages will come from the Renaissance or 17th century.30% of the passages will come from the 18th or 19th century.40% of the passages will come from the 20th century. SAT Literature Subject Test Skills Since this is a Literature test, and not merely your average reading exam, youll be required to do a lot of analytical thinking about the passages youre reading. Youll also be expected to understand the basics about literature, itself. Heres what you should brush up on: Common Literary and Poetic TermsNarrators and Authors ToneMeaning and Vocabulary in Context Word Choice, Imagery, MetaphorThemeCharacterizationBasic Plot Structures Why Take the SAT Literature Subject Test? In some cases, it wont be a matter of choice; youll have to take the SAT Literature Subject Test based on the requirements of the program in which youre choosing to apply. You must check with your programs requirements to see if youre one of the lucky applicants that must sit for the test. If a particular program doesnt require the test, then some people choose to take the exam to show off their skills if theyre masters in Literature. It can really give your application score a boost if your SAT Lit score is through the roof. How to Prepare for the SAT Literature Subject Test Mostly, if youve done really well in your 3-4 years of Literature-based classes in high school, love to read outside of class, and can usually understand and analyze whats going on in various literary passages, you should do just fine on this exam. For those of you who have to take the test and Literature isnt your strongest suit, then Id definitely recommend hitting up your English teacher for some extra assignments to help you get better at analyzing the material. Good Luck!

Rehab Centers Essay Example | Topics and Well Written Essays - 500 words

Rehab Centers - Essay Example Drug and alcohol rehab programs are beneficial for the addicts in many ways through which individuals can not only become complete again but can live their lives to its fullest without any support from drugs or alcohol. Drug rehabs have three benefits that can be categorized as physical, emotional and mental. Drug addicts do a great harm to their physical being as they become weak internally and externally. The drug rehab programs can help them in letting go of their need of drugs which can help them recover internally such as better food digestion which can lead to becoming strong externally as well. It is also commonly seen that many individuals take drugs to hide their emotions. Drug rehab programs can help them to get in touch with those feelings and emotions although the journey is difficult but as the time progresses these individuals can again feel happy, and friendly that can heal them from the inside. The greatest benefit that rehab program can offer an individual is the peace of mind. Certain drugs are very harmful to the mind causing increased levels of anxiety and paranoia in them because of which they cannot think clearly. Rehab centers can help in overcoming this through their treatme nt programs and help them function better mentally such as making logical decisions and seeing things differently as opposed to drug addict view. Like the drug rehab centers, alcohol rehab centers can also help the individuals with alcoholism. The first benefit is that choice of choosing your own program: inpatient or outpatient program, depending on the severity of the problem. Mostly people opt for inpatient programs as they can get support at every point giving them more hope of getting rid of the problem. The second benefit of the alcohol rehab programs is the socialization of individuals with others like themselves who are in the same position giving them more support and strength to

Case study Coursework Example | Topics and Well Written Essays - 2000 words

Case study - Coursework Example Some of the products which fall into this category are computer servers, automobile products and aircraft. In the context of automotive products or car industry, Build to Order (BTO) is considered as an approach, where the production takes place when a confirmed and validated order is received from the end consumer. The end customer refers to the individual who places an order for the product to the company. However it must not take into account any orders by the national sales companies, point of sales or dealers, bulk orders, original equipment manufacturer, or any other middle man in the entire supply chain. It should be also noted that BTO does not take into consideration any kind of production or manufacturing of the orders which are in the pipeline. As the pipeline approach embraces further sophistication and is often termed as build to stock (BTS) system or build to forecast (BTF) strategy towards production. Traditionally, there were several manufacturing approaches. However the most common form was the lean production method. Lean manufacturing or production is considered to be one of the traditional approaches of production. ... tant aspects of this production strategy are as follows: - Just in time production (JIT) Kaizen (Continuous improvement) Cell production Zero defect production and Total Quality Management (TQM). Time based management Simultaneous engineering Quality Circles (Cutcher-Gershenfeld et al., 1998, p.75) There are many differences between the two approaches of car production. The differences come in the form of marketing, logistics, production, customer relationship, managing uncertainty, suppliers and also finished goods inventory. For example in the Build to Order approach the production system focuses on the supply chain flexibility and customer demand. On the other hand, the traditional approaches mainly focuses on stable and level schedules, and also concentrates on fixed order line-up. Some of the other differences between the traditional approaches and build to order approach are presented in a tabular form below. Table 1 – Differences between traditional approaches and build to order supply chains Factor Build to order approach Traditional approach Suppliers Responsive Lead times are long Logistics Non differentiated and mass approach Customized, reliable and fast approach Marketing Pull the customers Push the customers (Source: Deloitte, 2008) To what extent is the Product Life Cycle framework useful to explain the emergence of â€Å"build to order† manufacturing? Answer 2: - In the last few decades, there has been phenomenal growth and investment in the area of product life cycle management. Companies are exploring the opportunities to fully harness their assets and streamlining product lifecycle processes like never before. The theory of product life cycle was developed in the early 1950s. The primary rationale behind the development of this theory is to uncover

Business Law Essay Example | Topics and Well Written Essays - 250 words - 12

Business Law - Essay Example Meztista then offered a 50 percent share, based on the accounts, and Hylton accepted with a written reservation. Hylton has since filed a suit while Meztista claims that accord and acceptance relinquished rights to such claims. The legal position of the case lies in the legal principle of termination of a contract. Under termination by parties’ agreement, accord and satisfaction legally discharge parties of their obligations in a contract. Goldman and Sigismond define accord and satisfaction as a party’s decision to accept a lesser consideration to an original agreement followed by an actual execution of such acceptance. Accord and satisfaction therefore sets aside previous provisions of a contract (Goldman and Sigismond, p. 216, 217). The best argument for this case is that the parties’ obligations in the partnership were discharged by accord and satisfaction. Meztista is likely to win under this argument because Hylton relinquished legal rights by accepting the lesser payment to discharge the partnership

Learning and Assessment Essay Example | Topics and Well Written Essays - 1000 words

Learning and Assessment - Essay Example Although, the alternative assessment strategies using various technologies was better way to assess a student than the traditional one, yet using both types of assessments in triangulation was the most appropriate approach. Before discussing that which method was better, one must keep in mind what is assessment and what are its essentials In literal terms, the word assessment means to determine the real worth of something. In the educational setting, it refers to the evaluation done by the teacher to find the extent to which the student had been able to learn something. A good assessment should be complex enough to involve the students in real thinking process, open enough to appreciate diverse opinions but at the same time, it should also be constraint enough to enable a fair scoring system. Initially, the only method for the assessment, used by the teachers, was the traditional one. This means that a written test used to be taken, having questions and answers, preferably in the form of Multiple Choice Questions. This tradition was followed for centuries. Even today, this traditional methodology of assessment is being used in most of developing countries till matriculation level, atleast. On one hand, this approach was easy to conduct and scoring could be done more objectively but this traditional approach led to several problems too. The first problem was the misrepresentation of learning... The goal of assessment is to check for the level to which the student had learnt. But a written test was just a sampling of those learning outcome, only on the basis of that 'sample', it would not be appropriate to grade the student. Another problem with written test is that, ideally the evaluation should be a continuous process. However, the written test used to be the evaluation only at certain point of time. There is a possibility that the student would not have been feeling well at that time and thus could not attempt the paper well, in such cases; such assessment strategy fails to portray the true picture. THE ALTERNATIVE APPROACHES - Advantages and Drawbacks: On the contrary to the real purpose of assessment, a written test could provide the true picture only if the writing skills of the students permitted so, thus it became primarily the test of writing skill before being the test of original stuff. Suppose there was the written test of science, it should test whether the student has grasped the particular concept or not (Shepardson 2001), but two students delivering the same content, but one had better abilities to express himself, he was likely to get more marks than the other. However, the alternative assessment strategies used various technologies to remove the loopholes of the traditional system. The alternative assessment strategies were based on the ideas that the assessment should be able to involve the student to involve in thinking process that is supposed to be invoked in him, because of the learning that he had gained. Furthermore, it was not dependent totally on the writing skills of the students. Above all, it was capable of accepting the diverse ideas and responses. However, one major challenge

INDEPENDENT STUDY RESEARCH ON THE PURPOSE AND IMPORTANCE OF BUDGETTING Paper

INDEPENDENT STUDY ON THE PURPOSE AND IMPORTANCE OF BUDGETTING TO AN ORGANISATION - Research Paper Example 22 4 Study Methodology 22 5 Analysis & Findings 23 6 Conclusions, limitations of the study and recommendations for further study 24 7 Bibliography 27 List of Table S.NO Heading Page No 1 Capital Expenditure Spent by Various Companies 15 2 Alternatives to Traditional Budgeting 18 2.0 PROBLEM STATEMENT A lot of effort has been made in the theoretical area of budgeting and its concept but little has been done to show the applicability and the importance of the budgeting process to organisations. It is no wonder the truth that many students in the field of finance, accounting, strategic management and other related fields have a lot of theory and little practicability about the theories. This study was aimed at linking theory with practical applications of the theory of management accounting. This was done by looking at how organisations apply the various theoretical aspects of strategic managerial accounting. 2.1 IMPORTANCE OF THE STUDY This study is important since it was carried out t o reinforce the theory of budgeting and its application in real life situations. The study also gives advice on how businesses can go about budgeting and this will go a long way to provide information on the same to organisations. 2.2 OBJECTIVES OF THE STUDY The objectives of the study were: To appreciate the managerial accounting theory. Appraise the importance of budgeting to the success of an organisation and discuss the available budgeting methods. Discuss the budgeting process. Analyse the assumptions of budgeting. To link managerial accounting theory with practical application. 2.3 Learning outcomes Appreciate the purpose of traditional budgets Appraise the conventional process of budgeting, including variance analysis Critically assess alternative methods of budgeting, including ‘beyond budgeting’ Analyse budget assumptions and critically review budget outputs To under the significance of capital budgeting To comprehend about the purpose and the nature of a marke ting budget. To know whether the company is functioning within its means. To help both management and employees to strive hard on common goals. Though a budget is a useful tool, it may not always drive the financial activity of a business organisation. To illustrate how budgets can be employed and amended for control and planning.(Open University 2006 :10) 3.0 LITERATURE REVIEW Management accounting is a specialisation of accounting that deals with provision of information to managers for use in planning, decision making and control functions (Bragg 2009). It involves collection, analysis and interpretation of accounting information for managers of an organisation to help the managers to make plans, make decisions and control to ensure that the organisation goals are being achieved. Management accounting extends to cover strategic management, performance management and risk management which are key issues in management. The tools used in management accounting are costing techniques, budgets and control charts among other tools (Waygandt, Kimmel and Kieso 2009). According to UK

Did The Peace Movement Really Help End The Vietnam War Essay

Did The Peace Movement Really Help End The Vietnam War - Essay Example Johnson is among the most unpopular United States president of all times. Diplomacy in a democratic country is believed to be a key driver for peace initiatives and unity. Following such notion, it would be rightful to assert that indeed, the Peace Movement truly helped end the Vietnam War. The Vietnam War is also known in history books as the Vietnam Conflict or the Second Indochina War that started in the later part of the 1950s. It was a war fought between the Democratic Republic of Vietnam, which is North Vietnam and the Republic of Vietnam, which is South Vietnam1. Truly, Vietnam War was nothing more but an internal conflict between power strugglers in a nation, which just won its independence from its colonizers ( in its case France). Other nations got involved when North Vietnam had the support of socialist country of Soviet Union and the communist China. The involvement of communist and socialist nations in the war prompted the involvement of the pro-democratic Western nations. Thus, the United States got involved in the war that should have been fought in the local front. President Dwight D Eisenhower was then the US president when the country decided to show off its power against the non-democratic forces. Vietnam War was seen by analysts and historians as a perfect venue where the United States could show to the world how democracy could rule the world and how it could easily defeat the hard and authoritative ways of the socialists and the communists1. The US' involvement in the Vietnam War was also the main focus of the government of the popular and assassinated president of the United States, John F. Kennedy. Initially, Mr Kennedy's intention was only to provide Vietnamese troops assistance through trainings. He also wanted to battle out the threat of communism and socialism to countries especially in the east. Mr. Kennedy was assassinated on November 22, 1963. But the involvement of the United States to the Vietnam War went on until the entire duration of President Lyndon B. Johnson's term, which ran from 1963 to 1969. It was during this period that numerous protests and activist movements were staged throughout the country. The citizens of the United States then created a model that would eventually become the framework of other anti-war and peaceful protests not just in the country but also in the whole world2. The so-called Peace Movement in the United States was a clear and loud opposition to the government's firm stand to support South Vietnam on its fight to win and rule over the whole Vietnam. The Peace Movement was a series of protest rallies, demonstrations and mass assemblies that, for the first time in world history, involved Americans from all walks of life. The anti-war movement actually consisted of college students, middle-class citizens, labor unions and government institutions. The Peace Movement gained its prominence in 1965, then peaked and became mostly hyped and controversial in 1968. Encompassing political, racial, and cultural spheres, the anti-war Peace Movement exposed a deep schism within the American society during that time1. It was noted, moreover, that the Peace Movement also made way for several opposing groups to take a consensus for once

INDEPENDENT STUDY RESEARCH ON THE PURPOSE AND IMPORTANCE OF BUDGETTING Paper

INDEPENDENT STUDY ON THE PURPOSE AND IMPORTANCE OF BUDGETTING TO AN ORGANISATION - Research Paper Example 22 4 Study Methodology 22 5 Analysis & Findings 23 6 Conclusions, limitations of the study and recommendations for further study 24 7 Bibliography 27 List of Table S.NO Heading Page No 1 Capital Expenditure Spent by Various Companies 15 2 Alternatives to Traditional Budgeting 18 2.0 PROBLEM STATEMENT A lot of effort has been made in the theoretical area of budgeting and its concept but little has been done to show the applicability and the importance of the budgeting process to organisations. It is no wonder the truth that many students in the field of finance, accounting, strategic management and other related fields have a lot of theory and little practicability about the theories. This study was aimed at linking theory with practical applications of the theory of management accounting. This was done by looking at how organisations apply the various theoretical aspects of strategic managerial accounting. 2.1 IMPORTANCE OF THE STUDY This study is important since it was carried out t o reinforce the theory of budgeting and its application in real life situations. The study also gives advice on how businesses can go about budgeting and this will go a long way to provide information on the same to organisations. 2.2 OBJECTIVES OF THE STUDY The objectives of the study were: To appreciate the managerial accounting theory. Appraise the importance of budgeting to the success of an organisation and discuss the available budgeting methods. Discuss the budgeting process. Analyse the assumptions of budgeting. To link managerial accounting theory with practical application. 2.3 Learning outcomes Appreciate the purpose of traditional budgets Appraise the conventional process of budgeting, including variance analysis Critically assess alternative methods of budgeting, including ‘beyond budgeting’ Analyse budget assumptions and critically review budget outputs To under the significance of capital budgeting To comprehend about the purpose and the nature of a marke ting budget. To know whether the company is functioning within its means. To help both management and employees to strive hard on common goals. Though a budget is a useful tool, it may not always drive the financial activity of a business organisation. To illustrate how budgets can be employed and amended for control and planning.(Open University 2006 :10) 3.0 LITERATURE REVIEW Management accounting is a specialisation of accounting that deals with provision of information to managers for use in planning, decision making and control functions (Bragg 2009). It involves collection, analysis and interpretation of accounting information for managers of an organisation to help the managers to make plans, make decisions and control to ensure that the organisation goals are being achieved. Management accounting extends to cover strategic management, performance management and risk management which are key issues in management. The tools used in management accounting are costing techniques, budgets and control charts among other tools (Waygandt, Kimmel and Kieso 2009). According to UK

Would Islamic finance have prevented the current global financial Essay

Would Islamic finance have prevented the current global financial crisis Discuss - Essay Example The Islamic financial markets appears to have greater discipline and risk-sharing and conceivably can provide a solution or safeguard against the risk of financial crises.3 This research study analyzes the possibility that a world financial system modeled after Islamic financial systems may have prevented the current financial global crisis. It is concluded that some aspects of the Islamic financial markets system may have functioned to minimize the current global financial crisis, but it could not have prevented the crisis altogether. This is because some features of conventional financial systems are necessary for preserving and servicing conventional financial needs and competition, particularly the interests rates attributed to mortgages. This paper is therefore divided into four sections. The first section analyzes the causes of the financial crisis of 2008-2009. The second part of this paper analyzes the key aspects of Islamic financial markets regulations and ideologies. The s econd part of this paper also identifies and strengths and weaknesses of Islamic financial systems. The third part of this paper analyzes the feasibility of Islamic financial systems as a solution to or safeguard against financial crises. The final part of this paper offers concluding remarks and observations. Contents Abstract 2 Contents 3 Introduction 4 The Causes of the Global Financial Crisis 2008-2009

Poem Explication Essay Example for Free

Poem Explication Essay The first two lines show the king’s envy of other people in his court who unlike him can sleep soundly. Subsequently, he blames his not being able to sleep upon nature and questions why it has not made him sleepy yet. Line five seems particularly important because there King Henry hints that what he really wants is not sleep itself but the forgetfulness that comes with it. This line somewhat shows why the king is not able to sleep. King Henry wants nature to steep his sense of forgetfulness and let him rest but it does not, and so the king further questions nature as to why those that he considers below him are granted what he is not. He contrasts the common sleeping area with that of his grand chambers in lines six to eleven and asks nature why it would choose the former over the latter. In this part of the poem, the king describes the first sleeping place as shabby and poor while describing his own bed chambers as â€Å"perfumed† with sheets that are very expensive. This shows that the king thinks highly of his status as being superior to others as first expressed in the poem’s first two lines. The king further establishes this in the next lines of the poem, comparing himself to a lowly cabin boy who is probably somewhere sleeping while the monstrous winds rocked the ship floor where he slept. The king again contrasts it to his own situation, peacefully lying down without the disturbance of a heavy storm and again questions why he is denied of sleep. The last line supports the inference made in the fifth line. The words â€Å"uneasy lies the head that wears this crown† denotes that the king cannot sleep because there was something that was really bothering him. Reference The Second part of King Henry the Fourth. Retrieved March 27, 2008 from: http://shakespeare.mit.edu/2henryiv/2henryiv.3.1.html

Nestle: A Global Multinational company

Nestle: A Global Multinational company Brief of company: Nestlà © with headquarters in Vevey, Switzerland was founded in 1866 by Henri Nestlà © and is today the worlds leading nutrition, health and wellness company. Its sales for 2009 were $ 112.3 billion, with a net profit of $ 11.1 billion. They employ around 276,050 people and have factories or operations in almost every country in the world. Reasons for selecting the company: Nestlà © can trace back its origins to 1867, from selling milk-based baby foods and condensed milk as its primary products to a market leader in todays Food Beverage Industry with more than 6000 brands under its belt ranging from coffee and candy to hotdogs and pasta. Instead of just reaping the profits from the market, Nestlà © has given back to the community by adopting social responsibilities, showing above the bar ethical behaviour and in many cases raising the standards in the industry. Its founding ethos reflects the basic ideas of fairness, honesty, and a general concern for people. Main strategic issues facing the company: Nestlà © has been facing Nestlà © boycott since 1977 due to its promotions of the use of artificial infant foods. Growing resistance of consumers against the use of genetically engineered foods in Nestlà ©s products. Increasing competition. Increasing awareness in the consumers with the demand of being socially and ethically responsible increasing day by day. Increasing control and regulations in the policies of the governments worldwide. Companys contribution to the National Economy: Switzerlands GDP for the year 2009 was estimated at $522.4 billion with GDP growth rate of 2.8% (2010 estimate). Out of which Merchandise exports for 2009 were of $173 billion. *Companys contribution to the regional economy: Nestlà © employs around 280,000 people all over the world and have factories or operations in almost every country in the world. Nestlà ©s gross revenue for the year 2009 was $ 112.3 billion and RD investment was $ 2.11 billion. *Recent strategic dilemma: Environmental impact of palm oil and the role of multi-nationals such as Nestlà © in this. Recent strategic choice: In March 2010, Nestlà © purchased Krafts North American frozen pizza business for $3.7 billion. Nestlà © has been heavily investing in Africa. Source of Information on Company: http://www.nestle.com (334 words) Executive Summary This assignment analyzes Nestlà ©s current situation and strategies in context of Global Food Beverage Industry and then recommends the key strategies Nestlà © should use to be more successful and retain its status as the global market leader in future. To analyze the FB Industry on a higher level and examine Nestlà ©s external environment, the following business models are used in this assignment: Industry Life Cycle, Key Success Factors and Porters Five Forces. And to analyze Nestlà ©s current status and its internal environment the business models used are: SWOT analysis, Strategic Factor Analysis, TOWS Matrix. After analyzing the information based on the above mentioned models, Nestlà © is currently facing issues like product recalls, stagnant growth, high logistical costs, negative publicity and false allegations which are damaging its image and goodwill in the market. To combat some of these issues Nestlà © has introduced innovative and healthier food products to cater the rising number of health conscious consumers, started focusing on the rising middle class consumers in developing and emerging economies, which has helped Nestlà © to increase their growth again post the 2009 Financial Crisis. For further improvement in the market share and company image, key strategies recommended to Nestlà © are Expansion strategy through strategically acquiring and merging with its competitors and investing in production facilities in developing economies and Growth through Innovation in health nutrition food segment. One area that Nestlà © has to care of immediately is improvement in its Public Relations management to create a high level of loyalty and trust in its customers by building and reinforcing the notion that Nestlà © still follows its founding ethos of fairness, honesty, and a general concern for people. (277 words) Industry Life Cycle Introduction Growth Maturity Decline Time I ND U S T R Y SALES The Global Food, Beverage and Tobacco Industrys growth has slowed down in recent years. But all this is set to change due to the recent technological advancements, rapid globalisation and opening up of the many restricted markets worldwide such as India, China, African nations, etc. With the technological advancements in food processing, handling and storing capacity and the rapid emergence of organized retailing in Asia, Africa, and other third world countries, along with fast changing demographics and habits has changed consumption the patterns and is fuelling the next growth trajectory for the global food, beverage and tobacco industry. The Global Food, Beverage and Tobacco Industry is in the High Growth stage of the growth phase as the increase in sales has slowed down in recent years. The global food, beverage tobacco industry generated total revenues of $6,319.2 billion in 2009, growing at a compound annual growth rate (CAGR) of 3.4% for the period spanning 2005-2009. Food sales generated total revenues of $4,235.4 billion, equivalent to 67.1% of the industrys overall value and sale of beverages generated revenues of $1,581.7 billion in 2009, equating to 25% of the industrys aggregate revenues. The industry is forecasted to grow at CAGR of 3.8% for the five year period 2009-2014. Nestlà © recorded revenues of $99 billion in year ending December 2009, showing decrease of 2.1% compared to fiscal 2008. In 2009, Nestlà © renovated 7,252 products for nutrition or health reasons, as health awareness among consumers is rapidly increasing and it wants capitalize on the health conscious trend. Nestlà © has been active in Developing Emerging (DE) economies through its subsidiaries in Asia Pacific, Africa, the Middle East, Turkey and Latin America. Nestlà ©s sales in emerging countries accounted for almost 32.5% of total revenue and reached $32.32 billion in 2009. According to IMF, the advanced economies are set to grow at 2.1% and 2.4%, respectively, in 2010 and 2011, while the DE economies are forecasted to grow at 6% and 6.3% in 2010 and 2011, respectively. Therefore in the future, Nestlà ©s growth will be driven by high-growth DE economies. Key Factors for Success Key Success Factors Weight Rating Weighted Scorecard Rating Weighted Scorecard Rating Weighted Scorecard Branding 0.20 5.00 1.00 4.00 0.80 4.50 0.90 Diversification 0.15 4.50 0.67 4.00 0.60 4.50 0.67 Product Quality 0.15 4.00 0.60 4.00 0.60 4.00 0.60 Pricing 0.15 3.50 0.52 3.50 0.52 4.00 0.60 Distribution Network 0.10 5.00 0.50 3.50 0.35 5.00 0.50 Packaging 0.10 4.00 0.40 3.50 0.35 4.50 0.45 R D 0.10 5.00 0.50 3.00 0.30 4.50 0.45 Market Dominance 0.05 5.00 0.25 4.50 0.22 4.00 0.20 Total 1.00 4.44 3.74 4.37 Key Factors for Success in the Food and Beverage Industry: Branding in FB industry is of utmost importance as people do not prefer to buy products that they are not familiar with; also in this industry brand image is everything as it can attract consumers to a companys new products if it is already reputable in the market. Diversification in FB industry are almost always related as companies prefer to have a healthy portfolio of products while still maintaining their core competencies and using them in their related products; as by having a large range of products a company will be more competitive and would not have to rely on a single product. Product quality is very important in FB industry, as bad quality products can will lead to consumer boycott of the companys products, health issues in consumers and lawsuits against the company. While quality of the products also have to justify their prices, such as normal milk chocolates (Nestlà ©, Cadbury, etc.) cannot be priced high while specialty chocolates (Lindt, Godiva, etc.) are high priced. A strong distribution network is a must in FB industry as it gives the companies low costs operations, fast delivery, and optimal shelf presence in retail stores. RD is vital for gaining market share for the companies as development of better tasting, more nutritional and new foods beverages is the fastest way of capitalizing on the fast changing trends of the consumers (like current healthy organic food trend). Two of the many competitors that Nestlà © has, I have chosen Kraft Foods and Unilever for the comparison of KFS. After analyzing the KFS it is clear that Nestlà ©s response to the current and expected key success factors is above the industry average, with Unilever quite close behind and Kraft Foods just managing the industry average. So the analysis of KFS also reinforces Nestlà ©s position as the largest FB Company in the world. Porters Five Forces Model: Potential Entrants: Product Differentiation Switching Costs Distribution Channels Cost Disadvantages Suppliers: Financially weak Large no. of suppliers Buyers can do Backward Integration Substitutes: Private label products Niche products Cheaper alternatives available Buyers: Large Retailers Financially strong Backward Integration Low Profit margin Other Stakeholders: Health Groups Environmental Groups Fair Trade Organizations Rivalry among existing firms: Large number of players Dominance of big players Highly diversified markets Analysis of Porters Five Forces: The Bargaining Power of Suppliers (Low): The bargaining power of suppliers in FB Industry low as the raw materials for this industry includes fruits and vegetables, meat and fish, dairy products and grains, tobacco, cereals and grains, etc which could be purchased in the open markets around the world. And some FB producers have integrated backwards into producing their own raw materials, negating the need for suppliers. Also suppliers tend to be financially quite weak giving market players upper hand. The Bargaining Power of Buyers (High): The bargaining power of suppliers on the other hand is quite high as typical buyers are large retailers such as Wal-Mart, Carrefour, etc. who are financially very strong and usually make large purchases and enter into long term contracts with market players; as the profit margins for the buyers is quite low. So loss of one retailer could significantly impact upon a manufacturers revenue. Buyers are frequently integrating backwards, with many retail chains offering their own branded packaged food goods usually referred to as Private label products. The Threat of Potential New Entrants (Present): The threat of new entrants is high for small players who only serve few products and few markets (regional or national players) but is low for highly diversified big market players such as Nestlà ©, Unilever, etc. who operate globally. Since its a highly fragmented market small-scale entrance by occupying a niche in the industry is possible and high these days. But new entrants have to bear switching costs (which can be quite high) as its very hard to convince consumers to try new brands/products. Also big players can restrict the access to distribution channels for new players through their contacts and power in the market. The Threat of Substitutes (High): The substitutes are often cheaper and just as popular with consumers in FB Industry as most of the products in this industry are in a way a substitute of some other products, like Tea for Coffee, Coke for Pepsi, NutraSweet for Sugar, etc. These days private label products, organic foods; nutritional foods, etc. are also rapidly substituting the packaged foods. And there are almost no switching costs for end consumers as they just pick any new products instead of their regular ones if they want to experiment. The Extent of Competitive Rivalry (High): The competitive rivalry among the firms is quite high in this industry as the enormous size of the industry creates endless opportunities for the players to compete for. Large number of players, ready availability of substitutes, low entry barriers, low bargaining power of suppliers and fast changing customer tastes intensifies rivalry in the FB Industry. And also slow down of sales in the industry in 2009 will intensify the competition in the market, as everyone would try and gain market share now by take sales away from other competitors. Relative Power of Other Stakeholders (High): SWOT Analysis: Internal Factors Analysis Summary (IFAS): Internal Factors Weight Rating Weighted Score Comments Strengths S1: Finance 0.15 5.00 0.75 Low debt/asset ratio S2: Global Presence 0.10 4.50 0.45 Market Leader S3: Brand 0.10 4.50 0.45 One of USAs most admired S4: RD 0.10 5.00 0.50 Industry leader S5: Diversified Portfolio 0.05 4.50 0.22 More than 6000 brands Weaknesses W1: Quality Control 0.20 3.50 0.70 Increase in product recalls W2: Growth 0.10 3.00 0.30 Growth recovery slow W3: Emerging Markets 0.10 3.20 0.32 Less emphasis W4: Logistics Cost 0.05 2.00 0.10 Quite high W5: Perceived Image 0.05 2.00 0.10 Considered to put profit first Total Score 1.00 3.89 Strengths: Nestlà © apart from being the market leader in FB Industry is also financially very strong with highly diversified portfolio of more than 6000 brands, global presence, and strong RD capabilities; and in the process has developed a very strong brand image which it uses as leverage to generate high sales. As it has global presence it has customized its products according to consumer preferences in the local markets. Nestlà © is also the leading company to invest heavily in RD (annual invest of $ 1.8 billon approx.) as it considers innovation as one of its primary growth drivers. Weaknesses: Due to the sheer size and geographical diversity of Nestlà ©, controlling quality in many of its factories and supply chains is becoming difficult for Nestlà ©; which in turn is resulting in product recalls, loss of goodwill, and effect to the brand image of the company, which can lead to low customer loyalty. Another one aspect where Nestlà © is lagging behind is that it has not been focusing much on emerging markets as majority of its sales are from developed markets. Its logistical costs and inventory management costs are also quite high due to its geographical diversity. Its growth has been has slow after the economic downturn as compared the industry as a whole, which has been on the recovery track since. External Factors Analysis Summary (EFAS): External Factors Weight Rating Weighted Score Comments Opportunities O1: Health food trend 0.15 4.50 0.67 Rise in health consciousness O2: Developing Emerging economies 0.10 3.50 0.35 High growth rate O3: Opening of Eastern Europe 0.05 3.00 0.15 Can expand there O4: Out-of-home consumption 0.10 3.50 0.35 More than 40% in Americas O5: Premiumisation 0.10 3.20 0.32 Growing incomes Threats T1: Rising prices of raw materials 0.10 3.00 0.30 Climate change food shortages T2: Specialized competitors 0.15 3.50 0.52 General Mills in Yogurt Mkt. T3: Increasing Regulations 0.15 4.00 0.60 Spats with FDA T4: Currency Fluctuations 0.05 2.50 0.12 Strong Swiss Franc T5: Negative Publicity 0.05 3.00 0.15 Due to alleged unethical business practices Total Score 1.00 3.53 Opportunities: One of the major opportunities which can be the future growth driver for Nestlà © is healthy and nutritional foods segment, as by 2014 the global organic food market is forecasted grow by 60.7% since 2009 and while the global functional drinks market is forecasted to grow by 32.9% since 2009. Also further penetrating the Asian, African and Eastern European markets by using merger, acquisition and joint venture strategies can also be a major growth driver for Nestlà ©. The growing level of incomes of the middle class around the world is also providing Nestlà © with opportunities for launching its premium products such as Mà ¶venpick, etc. in the developing economies. Threats: Two of the major factors threatening Nestlà © are specialized competitors and increasing regulations by government bodies. As Nestlà © is highly diversified it faces problems when it has to compete with competitors who are highly specialized in one product such General Mills in US Yogurt Market. Also any change or stricter enforcement of regulations by government bodies like FDA, tend to threaten Nestlà © as it would have to change its production process or may even face lawsuits pay fines due to some violations of the regulations, which will also give rise negative publicity about the company. Due to the economic downturn of 2009, currencies fluctuations have been hurting Nestlà © as Swiss Franc has strong against the most of the other currencies. Strategic Factors Analysis Summary: Strategic Factors Weight Rating Weighted Score Duration Comments S H O R T I N T E R M E D I A T E L O N G S1: Finance (S) S3: Brand (S) 0.15 5.00 0.75 X Large amount of cash 0.10 4.50 0.45 X Major global brand W1: Quality Control (W) W3: Emerging Markets (W+O) 0.20 3.50 0.70 X Recent product recalls 0.10 3.20 0.32 X Give more emphasis O1: Health Food Trend (O+S) O5: Premiumisation (O) 0.15 4.50 0.67 X Major growth area 0.10 3.20 0.32 X Increasing incomes T2: Specialized Competitors (T+O) T5: Negative Publicity (T) 0.15 3.50 0.52 X Possibilities of JVs 0.05 3.00 0.15 X Significant impact on customer loyalty Total: 1.00 3.88 Short Term: The FB Industry can see short and explosive bursts of growth, so it is necessary for Nestlà © to always have few strategies ready for short periods or it might not be able to capitalize on important trends or fads. For short term Nestlà © should focus on Premiumisation in developing and emerging economies as the incomes of the middle classes is rising there, which is fuelling their want of premium products now. Since Nestlà © already has lot of products in the premium segment, so all it has to do is to launch them into developing and emerging economies now; which will only take short time period to do and with minimum costs. Intermediate Term: Quality Control, Emerging markets, health food trend and specialized competitors are factors which Nestlà © will have to address in the intermediate time period, as they can adversely its sales if left unchecked. Nestlà © has to bring its quality in to control quickly otherwise it will be at risk of losing its loyal customers and might even face lawsuits. By expanding and capitalizing in emerging markets like India, China, etc. and current health food trend Nestlà © will be able to compete with its competitors and maybe also gain market share in the process. Collaborating with its competitors or buying them out in the segments which require specialized skills will take some time but is a necessary step or in long term they might become a huge threat to it. Long Term: Nestlà ©s long term scenario is quite balanced as it is financially very strong with a brand name that is counted among the top 25 brands in the world, but it also has repair its deteriorating image in customers minds. Being the market leader in the industry and with worldwide renowned brand Nestlà ©s sales revenue is far greater than that of its competitors which gives it high leverage capabilities while operating in the market. It has been coming under attacks from various social groups in recent years, which has been damaging its goodwill among its customers. Nestlà © has to strongly address this issue slowly and carefully so that it is come back to haunt it, and do that it has to invest heavily in very effective and efficient Public Relations management team. TOWS Matrix: Internal Factors (IFAS): External Factors (EFAS): Strengths (S): Finance Global Presence Brand RD Diversified Portfolio Weaknesses (W): Quality Control Growth Emerging Markets Logistics Cost Perceived Image Opportunities (O): Health Food Trend Developing and Emerging Economies Opening up of Eastern Europe Out-of-home consumption Premiumisation SO Strategies: Develop products for health nutrition segment. Find joint venture partners in Eastern Europe. WO Strategies: Expand Nestlà ©s presence in Eastern Europe Asia. Change Nestlà ©s perceived image. Threats (T): Rising prices of raw materials Specialized Competitors Increasing Regulations Currency Fluctuations Negative Publicity ST Strategies: Do backward integration. Either use joint venture acquisition strategies or RD to gain market share. WT Strategies: Invest in PR management to improve the image of Nestlà ©. Emphasize on developing emerging markets to gain market share. SO Strategies (Maxi-Maxi): SO strategies are formed so that the strengths of a company can be used to capitalize on its external opportunities. So by analyzing Nestlà ©s strengths and opportunities available to it I have decided to use two strategies for Nestlà ©s future growth. As the demand of healthy nutritional foods is increasing Nestlà © can use its strong RD capabilities to develop products for this segment. Another strategy that Nestlà © can use is to find partners for joint ventures in Eastern European market as it being relatively new, it might not be aware of how things happen there; so it should first do joint ventures there to study the market first as opposed to moving with full force in the market. ST Strategies (Maxi-Mini): A company applies ST strategies to avoid its external threats using its strengths. As Nestlà © is financially very string it has the capabilities to do backward integration with its suppliers, which will in turn insure Nestlà © of a secure steady supply chain and quality of its raw materials. Another strategy that Nestlà © can also use is that through its financial strength, brand image and global presence it can either acquire or enter into joint ventures with its competitors who are highly specialized; or it can use its strong RD to also develop specialized products for that segment. WO Strategies (Mini-Maxi): WO strategies are aimed to improve a companys internal weaknesses by capitalizing on its external opportunities. Nestlà © can reduce its logistical and inventory management costs by expanding its presence to Eastern Europe and Asia. Another strategy that Nestlà © can use is to change its Perceived image (of putting profit first) by developing and introducing more healthy nutritional products. WT Strategies (Mini-Mini): WT strategies are defensive tactics employed by a company to reduce its weaknesses and avoiding its external threats. As the image of Nestlà © is being tarnished by negative publicity arising out of recent product recalls, compliance issues for violating regulations, etc. it should heavily invest in its PR management; so that such negative publicity could be avoided next time. Nestlà © should put more emphasis on selling in developing and emerging markets to continue steady growth while increasing market share and also for purchasing and producing there to counter the rising prices of raw materials and labor costs. Assessment of Current Company Performance: Efficiency: Nestlà ©s recently been following the strategically expanding through acquisitions and investments. It has been quite successful in expand its line of frozen foods in North America through the acquisition of Kraft Foods frozen pizza line for $ 3.7 billion in cash. Nestlà © also had several other small acquisitions in the first quarter of 2010 which did not have a significant impact on the Groups sales and profit for the period. Nestlà ©s acquisition related costs in the first quarter of 2010 were about $ 13.4 million. Effectiveness: Nestlà © was effective in carrying out its expansion strategy through acquiring frozen pizza line from Kraft Foods as where the company had only a minor presence until now; it is the market leader in frozen food segment in North America. It successfully integrated Kraft Foods pizza business into the Nestlà © Group as well as its 3,620 employees, with their valuable talent and expertise in Nestlà ©. The frozen pizza line showed 14% organic growth in the first quarter of 2010. Sales and profit of Kraft Foods frozen pizza business in the first quarter of 2010 amount respectively to $ 6.11 billion and $ 65.2 million. Return to Investors: Nestlà © paid dividend of $ 5.632 billion in the first quarter of 2010 which showed an increase of 7.8% when compared to the dividend payment of $ 5.223 billion in 2009 for the same period. Increase in dividend shows that Nestlà © is starting to recover from the financial crisis of 2009. The share value of Nestlà © went up by $ 0.91 per share for 2010. Review of Options for Future Direction In order to address its weaknesses and external threats Nestlà © has to critically use its strengths and capitalize on its external opportunities by using some of the strategies mentioned in the TOWS matrix earlier. One of the strategies that Nestlà © can use is expansion strategy through strategically acquiring and merging with its competitors and investing in production facilities in developing economies. It should acquire or start joint ventures with firms in developing markets like India, China, Russia, etc. to capitalize on their booming economies and gain market share quickly before other global players enter the markets as it has the financial backing to support such expensive ventures. Also it should start investing in developing markets to develop its own production and distribution facilities so as to eliminate dependency on local players. Another strategy that Nestlà © should undertake is Growth through Innovation in health nutrition food segment. Due to the rising education levels and general awareness around the world consumers are becoming more more health conscious, which is an important opportunity and will be a future growth driver for Nestlà ©. It should use its highly developed RD capabilities to develop more healthy and nutritional foods to cater to this growing group of consumers. Implementation of New Strategies Structure: Nestlà © has a decentralized organizational structure which has been very beneficial to it as far flung divisions could take decisions in real time to exploit the opportunities present to them; but due the huge technological advancements in the past few years this autonomy has led to conflicting practices within the company; making it a nightmare to coordinate activities between divisions in different geographical zones. It has to centralize its operations to gain a tighter control over its far flung divisions and businesses, so that Nestlà © can (with a unified centralized system) leverage its products in real time on a worldwide scale to generate higher sales. Systems: Nestlà © has its production and logistical systems under control to meet any unexpected growth surge in a short period of time and to fuel growth for expanding in developing markets. But Nestlà © has to take care of its supply chains as they can virtually leave Nestlà © hanging in the air if any change in natural political environment takes place with the possibility of disruption in supply of raw materials or a drop in the Why do Multinational Companies Exist? Why do Multinational Companies Exist? According to Needle (2010), Multinational enterprises are those enterprises which carry its production activities in more than one country. These companies make sure of the supply of raw material to the other country they are operating in. As per Buckley and Casson (2009) many of the multinational operate in different country because of many reasons such as low labour costs, serving a huge market, cutting of their taxes and production costs, innovation in technology and exploitation of resources. According to Dickens (2011), today we are living in borderless world as there are no boundaries that exist between the countries or nations. Globalisation is the new trend changing the political and cultural order of the world (Buckley and Ghauri,2004). Every operation that has been carried out by companies goes around the world. Innovation is growing very fast and so do competitiveness. Globalisation can be define as the increase in the frequency and duration of linkages between countries leading to similarities in activities of individuals, practices of companies, and policies of governments (Czinkota 2005). From the statement we can say that companies go global because of many reasons as now the countries are linking to each other to share the information and wealth. As said by Rugman and Verbeke (2005), Firms become multinational because they want to grow, expand and diversify their operations. Operating in their home country wont satisfy them so they go global. Using the resources of their home country make it obsolete or bound them in a limit to not to go further. Then firm decides to go global by making investment on their further growth. As argued by Madura (2008) following are the theories which a firm follows when it globalises such as: Theory of Comparative Advantage The Imperfect Markets Theory The Product Cycle Theory As explained by Madura (2008), Comparative advantage theory says that when countries specializes or have expertise knowledge in one field than they dont waste their resources or energy on research of other field, they share or trade with other countries to share their expertise field. They take advantage of their expertise knowledge and become a head in comparison with others. Labour force is skilled and lower in cost in India and China as compared to western countries. They can be transported or hired for the operations for other companies. Companies such as Intel, IBM, Wipro operate in different countries because to utilise their efficient resources. These companies are operating in India, having their call centres outsource sharing the expertise knowledge in the field of Information Technology as India produces a large amount of IT experts. Imperfect market theory says that if the markets of a country stop trading with other countries than there will be no international trade. As per Dewey (1969), if the markets of the countries were perfect then there would be an easy transfer of resources from one country to another. Factors of production like labour, raw material, machines and capital can be transferred wherever they are demanded. This temperament of deal between the countries creates a similarity in costs and removes the relative cost of advantage, global trade and investment. In todays world there are situation when imperfect market conditions arises, where transfer of labour and other factors of production is restricted at some level. For example, MNEs such as Gap and Nike take advantage of the resources related countries. Imperfect market offers these companies to exploit their market and cross the trade barriers of import and export. According to Madura (2008), in Product Cycle theory, firms establish first in their home country by utilising all the resources available in the market. In home market they have an advantage over competitors. After operating in home market firm feels to expand their operations by entering into foreign market and producing their products overseas, reducing their transportation cost and other cost of production. There are existing competitors in the global market and to compete with them they introduces new technology and products in the market. For example, Dell, Lenovo, Toshiba are the companies who spent lot of their resources in their research and development for the latest technology. As argued by Kapoor and Grub (1973), firms motivate themselves to become multinational enterprises because of the foreign direct investment that helps in crossing the trade barriers to other countries. They also explore different cultures and management structure followed in different countries. Firms become multinationals in order to reduce the risk of foreign trade and become politically and economically well established. By going global they create a good relationship between the nations and create a name and goodwill to the firm. For example, many of the American companies are going global as they now operating their activities in the growing economy of different countries such as Brazil, China, India, Russia etc. Many of the emerging market companies such as HTC, Samsung, Nokia etc. are also spending on their research and development and sharing the information on technology sector. According to Markusen (1995), as he explains the Dunnings OLI framework that there are three advantages in which a company can have direct investment. Firstly, Ownership advantage is when a company has trademarks and copyrights of producing a product line and no other company can duplicate their product. Secondly, Location advantage is there when a firm creates his monopoly in a particular region serving a large amount of society. It is done as the foreign market offers the low cost of production to firms which make it profitable for the firm to serve that region. Thirdly, Internationalisation advantage says that if there is a market to cater than instead of going out there and start a new production unit, its better to license and sell your technology to a company and they will produce units for you. As stated by Madura (2008), there are some ways by which firms become multinational enterprises. International Trade Licensing Franchising Joint Ventures Acquisitions of existing operations Establishing new foreign subsidiaries According to Hill (1994), International trade means exporting and importing of goods and services between different nations and different companies. If a company start facing losses that it can reduce or stop exporting or importing from different countries as there is no huge investment involved in it. For example, many of the U.S. firms such as Microsoft, IBM, General Electric generates there huge amount of revenue from import export. As argued by Needle (2010), Licensing means that a firm uses several modes such as copyrights, trademarks, patents etc. to register their process of operations or the technology they use. They can transfer or share their technology with others according to their wish with low capital involved in it. For example, in India all the parts of telephone communications are manufacture by ATT and Verizon Communications as they have a licensed agreement. All the drugs that are produced and exported to Hungary and other countries are made by Eli Lilly Company. It has been argued (Spinelli et al. 2004) that Franchising means when a company authorizes its residents of the same country or other country to open an outlet using the brand of the company. Its market policies, product line and the franchisee have to follow the protocol of the parent company. In return to this the franchisee has to pay a royalty fee to the company periodically. For example, McDonald, Pizza Hut, Subway sandwiches have many outlets in many countries that are operated by the local residents of the respective countries. As per Yan and Luo (2007), in Joint Ventures two firms come together to achieve their common goal in the competitive market. In ventures risk sharing ratio is equally divided for the defined project and there should be a mutually understanding between them. These enterprises are also politically acceptable in different nations. For example, Nestle has a wide distribution of its home products throughout the world. So there has been a joint venture between General Mills Inc. and Nestle to distribute the cereals produced by the General Mills by using the distribution channel of the Nestle. It has been argued (Reed et al. 2007) that acquisition of existing operations means that the company acquires the existing competitors in the local market or in the foreign market. A company takes over another organisation as they incur heavy losses and cannot operate in the competitive market and also to vertically or horizontally integrate. A company explores the resources of another company and take advantage of the already setup done by that company. For example, Procter and Gamble acquired a bleach company situated in Panama. According to Rugman and Verbeke (2005), another way of entering in global world is by establishing new subsidiaries. The large organisations create or distribute its departments into different companies and are wholly or partially controlled by the parent company. The main organisations are called the parent company and the other is known as holding companies. If the company is totally owned by the parent company that their stock is also owned by the parent company. There is always a protection of technology as the information is not leaked out. At the same time it also involves high costs and risks in the foreign market. For example, a truck company called Overnite Transportation is a totally purchased subsidiary of Union Pacific Corporation. Conclusion At last it can be said that, the role of MNC in developing itself and the nations are very important. It in one way helps to build and economy by various advantages. At the same time it can have different repercussions if not properly strategized. The above description gives all the major points in making of an MNC. Also the essay describes the various parameters needed in making of an MNC.