The State Hampering Of A Capitalist Economy Essay

The state hampering with a capitalist economy can have positive and negative to society. Theorist such as Hayek was against state intervention and believed in the neoliberalist movement, which meant that firms would are able to privatize their businesses and still trade in free markets. Hayek identifies that capital theory â€Å"was an area where he found that the coordinating processes of the market were underappreciated† and that the â€Å"evolved institutions and market competition as irreplaceable means for social coordination† (White, 1999, pg. 753-4). Despite Hayek’s claims of state intervention, it has been proved that the state hampering in a capitalist economy has brought positive effects. For example, mixed markets such as Sweden have 52% government spending shares, and 48% privatized firms in the market. Conversely, without the state intervening in the market, this could also lead to negative effects in the economy by monopolies being created by privat ized firms, which leads to market inequality, diminish the marginal utility of wealth and social benefits will be ignored. The government only intervenes in areas such as regulation and spending money on public services and amenities; which is why some economies have been able to strive and grow. Government intervention could be viewed as an essential element to regulate the economy, but over the past decades, we have seen that it is not the case. Adam Smith a classical liberal proposed the idea of Laissez Faire, whichShow MoreRelatedThe Father Of Modern Economics1675 Words   |  7 PagesAdam Smith (1723-1790), christened the ‘father of modern economics’ made several important discoveries in the field of political economy. 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Water Pollution and Drinking Water Quality Essay - 937 Words

All around the world, countries are fighting to keep their drinking water clean. Whether it’s streams, rivers, or lakes, countries have taken great measures to maintain high quality drinking water for both human consumption and animal consumption. Countries must first understand the sources of the polltion, then determine the best methods to eliminate the pollution. Clean drinking water is a valuable resource and a the key to human survival. Plants and animals also depend on water for their growth, so all water must be kept clean. The major contributors to water pollution can be classified in three categories, industrial, agricultural and municipal. Examples of industrial wastes that can contaminant bodies of water are oil spills, acid†¦show more content†¦First, control over the discharge can take place at the point of generation within the plant itself. Second, the polluted water can be sent to water treatment plants before it is released into the surrounding water sources. Third, the waste water can be treated within the plant and recycled again, or treated in the plant and released. Another form of industrial waste that contributes to water pollution is acid rain. Acid rain is a product of industries burning coal. The burning of coal produces sulfur oxide and nitrogen oxide, and when these chemicals combine with the earth’s atmosphere it forms acid rain The Northeastern part of the United States has the worst acid rain levels in the world. More specific, the states with the highest concentration are Ohio, Indiana, Illinois, and some boarding parts of Canada and New England area. The falling acid rain can destroy plants and animals in several different ways. The acidification of a lake, river, or stream because of the high acidic levels in the water kills algae. 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Design Project Mental and Physical Disability

Question: Discuss about theDesign Projectfor Mental and Physical Disability. Answer: Project Benefits The project would be of numerous benefits and advantages both to the restaurant as well as to the community at large inclusive of the customers who would be visiting the restaurant(Comit 2009, p. 356). Foremost of the benefits is the realization of profits. Being a business unit, the personnel that would be employed would be part and parcel of the organization that would help in the achievement of the objectives. The business would be able to record significant positive deviations in the profits realized. This would be as a result of the improvement in the quality of service delivery. The deaf are known to be very humane and humble when handling individuals. From their friendly nature, customers would be motivated and satisfied by the services offered thereby winning their loyalty(Pine 2011, p. 120). Visitors and other people working in the restaurant who are not deaf will be able to learn sign language. The top management will need to communicate policies or make consultations with the employees who in this case are deaf. Under such circumstances, it would be important for the top management to learn to understand and communicate in sign language. At the same time, the customers will be interacting with the deaf attendants at some points during their stay in the restaurant. This would promote the use of sign language to facilitate processes aimed at meeting their needs. It would thus be a possibility that all the users of the restaurant will be fluent communicators of the sign language gradually(Association 2015, p. 185). Still, the project would eliminate discrimination as a result of disabilities in the society. More often than not, people born with disabilities are perceived to be unable and more of a burden to their families and the society at large. By incorporating the deaf ad part of the staff in the restaurant, they would not only feel valued and respected but also not discriminated against based on the state of health. The deaf would feel that they as well have a place in the society and pay an important role in the building of the economy. This would be a source of motivation to them and would make them work towards the realization of their full potential(Weatherford 2015, p. 179). To be served in a restaurant by deaf staff gives the customers an opportunity to have a new experience of food as well as a good taste. The customers would get to have a new feel of how food can be prepared and served in such a way that it best suits their interest. From learning of new ways on how to order for food to new ways of settling the bills, the customers would enjoy a wholly overhauled system. Customers would get acquitted with new ways of doing things which do not necessarily involve a lot of talking and shouting. The needs of the customers would be met just at gestures and signs, a different case from a restaurant served by non-deaf staff(Pine 2011, p. 211). A quiet but robust environment would be their experience as they get services from the hearing impaired staff. References Association, AB 2015, Mental and Physical Disability Law Reporter, Volume 29, 3rd edn, American Bar Association, Washington. Comit, A 2009, Facts and Reports, 4th edn, Holland Committee on Southern Africa, New York. Pine, BJ 2011, The Experience Economy, 4th edn, Harvard Business Press, Kansas. Weatherford, J 2015, Genghis Khan and the Making of the Modern World, 7th edn, Crown/Archetype, San Marcos.

Small business marketing plan. Dans Auto and Trucks Repair Company

Introduction Marketing forms one of the most important factors that dictate the progress that an organization can make since it constitutes the last step in the chain of production. Marketing analysts generally concur that the process of marketing brings consumers and an organization together, a consideration that makes it crucial to establish the correct face of products, service, and most importantly, the company making the products.Advertising We will write a custom term paper sample on Small business marketing plan. Dan’s Auto and Trucks Repair Company specifically for you for only $16.05 $11/page Learn More An effective execution of marketing however requires a closely coordinated and a highly analytical application of marketing plans and special skills to win customers. Dan’s Auto and Trucks Repair Company has continued to grow and widen its market since it was formed. The latter has been attained through active marketing of its produ cts both in the United States and across the globe (Dan’s Auto and Trucks Repair, 2013). This paper provides an evaluation of the company and particularly its marketing plan. Besides, an effective SWOT analysis of the company has been conducted by exploring the key strengths and opportunities. In addition, possible threats and opportunities have been addressed in the paper. A brief company background- Dan’s auto and track repair The ability of any business to assimilate the correct productivity and profitability is highly dependent on its ability to formulate and apply the mission, goals, and objectives in its management plans. According to Johnson (2002), a business should formulate its marketing objectives in line with its long term strategies upon which it intends to deploy technology, human resources, and funds to enhance the realization of its mission. Dan’s Auto and Trucks Repair Company is one of the fastest growing small auto and truck repairs businesses in the United States. The owner who is known as Dan Wozniac began this business in 1991 in Arlington, Texas. It is worth mentioning that Dan’s business is family-owned and it provides wide range of vehicle service repairs to its customers (Dan’s Auto and Trucks Repair, 2013). Its channels of primary sales and services are the regular customers and roadside assistance services conducted on a 24-hour basis. It also offers fleet services which includes state certified vehicle inspection, wrecker services, vehicle products, fleet priority service, DFW Metroplex area, vehicle repair and on-site maintenance. Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Its staff includes a small group of highly qualified technicians. The company’s management structure has undergone major reviews that push it towards decentralization and greater responsibilities to workers and custom ers. Ahenkora and Peasah (2011) indicate that a lean hierarchy allows employees to have direct touch with their top management and contribute to long-term planning. Besides, it reduces the overall time used to respond to workers, environmental, and consumers’ issues. In order to further emphasize on lean management, it is vital to mention that the inventories are greatly reduced while additional focus is given to corporate social responsibility. The structure has created important arms that reach out all stakeholders and therefore makes it easy to understand issues affecting them. The latter is a crucial consideration in defining the point of entry by the company. The company has seen significant growth in its market changes over the years. The latter has been accompanied by eventual success in business. This has been due to its efficient leadership, marketing skills and innovation. In addition, it focuses on improved and a wide range of service delivery and expertise of work ers. This has attracted the attention of truck and vehicle owners as well as several other well established and successful companies. It has also been attributed to the adaptive enterprise and corporate marketing strategies that provide the type of technology and services as well as the efficient marketing practice to apply. Other important services include diesel and electronic and non-electronic repairs, complete service and repair of clutch, air brake systems, axle, front-end, undercarriage among others. It has several business segments such as vehicle care segment, inspections for all vehicles, preventive maintenance and product segments, having new and used tyres, engine parts and other assorted vehicle spares. Mission statement Dan’s Auto and Trucks Repair Company has immensely benefitted from the intimate relationship with its workers, consumers and the environment since it was incepted. It is one of the most important components that drive its success (Dan’s Au to and Trucks Repair, 2013).Advertising We will write a custom term paper sample on Small business marketing plan. Dan’s Auto and Trucks Repair Company specifically for you for only $16.05 $11/page Learn More As a result, it has taken great strides in ensuring that the provision of better and unmatched services and sustainability are carefully ingrained in its mission and leadership structure. This has been used as a mechanism of ensuring that the company’s ideology and principles are implemented. The company’s mission is built on core values that define its services and products. Its mission can be summarized as the provision of outstanding customer service. This denotes the responsibility of the company in fostering effective service delivery. Statement of goals and core competencies Johnson (2002) points out that a small business can be able to explore the successes in its environment by developing or focusing on its core compete ncies. Dan and his team of workers have come to develop effective strategies in catapulting their business to success over the past few years. In their provision of services, they have been able to aim towards exploiting, leveraging, strengthening, maintaining and developing core competencies. Core competencies as in a firm may include an organization’s functional skills such as research and development, technology, finance, marketing and manufacturing. A decision to develop a strategy via exploiting core competencies might in the next three years ensure that the firm does not merely produce quality products. It may also deliver valuable services and unique benefits to customers. Additionally, exploiting core competencies as a means of developing strategy requires that resources in a business are shared equally across all existing units. Johnson (2002) points out that the best and effective core competencies that should be shared need to be the intangible ones. Dan has showed a deeper understanding in his practice in the sense that intangible competencies are important in the sense that his competitors are not be able to see them because they are invisible. The company has been able to utilize competencies relate to skills and knowledge which its employees have.Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The business knowledge potential perspective currently entails viewing the business marketing strategy and provision of services through embracing technology as the driving force behind organisational success. The top management has sought to provide vision regarding technology-focussed service provision and marketing which involves designing and implementing the required IT infrastructure. The latter takes into consideration the external IT strategy components such as competencies, scope and governance. Competitive potential alignment perspective in the next three years appears to focus primarily on exploitation of the emerging IT capabilities in order to bring about new products and services. This can expand the business scope. It is also concerned with influencing the critical attributes of the strategy which involves distinctive competencies, and the development of new types of customer relationships. This perspective is considered unique because it allows business marketing str ategy to be modified using the emerging IT capabilities. Overall marketing strategy Janicijevic (2010) posits that developing a marketing strategy that is effective and oriented for long term requires key strategic planning and effective leadership methods. Developing a marketing plan gives a firm enough time to meet its goals. As a strategy, it reflects Hamel and Prahald’s view in their model of strategic intent. Hamel and Prahald argue that planning is a strategic marketing intent which is aimed at leveraging core competencies, capabilities and internal resources a firm has in order to accomplish unattainable goals a competitive market environment presents (Ahenkora Peasah, 2011). On the same breath, Strategic scholars point out that while strategic intent is crucial for higher levels of performance, its effects can only be realized when employees in an organization show commitment to a vision or a specific performance criterion. SWOT analysis Strengths Since its inception in 1991, Dan’s Auto and Trucks Repair Company has continuously grown its marketing activities and processes to become one of the major providers of diesel vehicle and truck service providers in Texas (Dan’s Auto and Trucks Repair, 2013). Analysts have pointed out that the services the company provides which ranges from computerized diagnostics of all diesel and other engines to a 24-hour towing and roadside assistance have immensely attracted customers who have in turn developed preference and confidence to the company’s available services. Besides, it is worth mentioning that its variety of unique fleet services and its ability to meet the convenience of its customers have enabled it to gain competitive advantage over the competitors. This has aided it in enhancing its profitability due to repeat customers. Weakness Marketing analysts indicate that the availability of substitute products and increasing demand for cheaper products and services presents small an d growing businesses such as Dan’s Auto and Trucks Repair Company. Such a company may be faced with massive difficulties of lowering cost to ensure economies of scale. While many local auto shops and garages around Arlington Texas have opted to lower their product and service costs prices to gain a competitive edge, Dan’s business has maintained its service charges over others. This has had a negative impact on its expected gains as many of its customers opt for alternative service providers. Its fleet service costs are not reflective of the affordable prices necessary for capturing the ready market in the region. Opportunities Modern sales and marketing operations for products and services that a company provides demand the application of better technological platform. The company has been known to offer quality services. It uses technology to enhance the effectiveness and quality of its marketing plans and service provision. This in turn presents it with numerous opp ortunities to reach the market and introduce fresh ideas in the market. Threats One of the major threats facing the company is the nature of the highly competitive market environment where the company is carrying out its operations. The company is exposed to a stiff competition from its competitors. It is worth mentioning that since its competitors are selling similar vehicle products and lowering the cost of their services, Dan’s business faces a great threat of losing =its marketing strategy. An analysis using Porter’s five forces model New entry threat Though services provided by Dan’s company are exceptional, many similar companies have come up to in Texas to provide auto services. The fast increase in Dan’s profitability has agitated their concerns for a share of profits. Indeed, the market was insatiable by the company’s services and therefore provided a ripe opportunity for new entrants to fill the gap. However, the company still enjoys the advantage of a large number of customers who have developed loyalty due to its special services. Buyer and supplier power Winer (2009) notes that the bargaining power of consumers and suppliers dictate the ability of a company’s products to trade effectively in the market. The management of the company has sought to ensure that its customers, as indicated in the mission and goals, obtain the highest quality of the product possible at the best prices that could be able to effectively compete in the market. This is therefore essential for the company to stabilize its service provision and raise prices with time to encourage better production. Competitive rivalry Competitive rivalry on the other hand, forms a major business consideration that dictates the overall ability to forcefully infer the much needed impact in the market. The company suffers strongly from its general lack of enough resources that dictated the overall ability to reach its consumers. This has given larger co mpanies the general advantage to maintain bulk of the market share. Threat of substitution Since its conception, Dan’s company has been faced with strong forces of other vehicle products in the market. Though Dan has sought to infer the best method to counter the products that are in the market by use of unique technology, the threat of substitute products requiring greater knowledge continues to be very strong owing to their demand in the market. In addition, it cements their overall preference by ccustomers. Target market In his publication, Winer (2009) points out that segmentation and targeting of a market is an important component since it boosts the competitive advantage, increases product identification, and improves market segment and marketing mix. In the case of Dan’s company, it should be able to select potential locations where a mixture of low class, middle class and upper class car and truck owners can buy its products and services. In these segments, it may be able to market and carry out promotions of its products. Product strategy Dan’s company product ought to be transformed so that it can win the market and build the brand in the US and other parts of the globe. Its services include repairs of engines, brakes and exhausters. The company must adopt a new and unique style to attract customers. This may include ensuring efficiency and speed in carrying out services. Distribution strategy A producer to consumer channel has been lauded by scholars of chain management studies as a channel which enhances a distributor’s profit margin. In agreement, the option by Dan’s company to adopt a producer consumer channel can be considered to be attractive in the sense that it can maximize profits. Indeed, as Mary Jo Hatch Posits in her model of business dynamics, direct selling or provision of services is a key business concept that enables a producer to favorably manage sales and enjoy all the profits without having to sh are with distributors or other intermediaries (Winer, 2009). Promotional strategy Promotional methods should be purposefully designed in a manner that more consumers are able to get the message on the availability of the services that Dan’s company is offering. A good consideration at this point is intensification of online promotion and use of billboards to reach more consumers alongside the current methods. Notably, intensified online promotion would enable the company to reach more consumers even beyond its already established locations. However, greater care should be taken to ensure that the system is secure and its brand carefully guarded. Pricing strategy The pricing of Dan’s services and products has always been a key consideration for the company because it determines their affordability. As a result, Dan should establish a clear method of determining the prices of different products in a manner that several people are able to afford the products. In order to further promote accessibility, different products and services should be priced differently depending on complexity of their production and design. Conclusions To sum up, developing marketing plan requires managers to employ strong systems of control for their companies so that they can enhance objectivity. There is need for a change in Dan’s company mode of marketing operations. It should be made a key platform for continuous improvement. As such, putting in place a new marketing plan is very crucial if the pre-established objectives are to be met. Dan’s Auto and Trucks Repair Company should gradually increase its marketing goals while heightening the much needed promotion to inform and persuade the consumers to seek its services. References Ahenkora, K. Peasah, O. (2011). Crafting strategy that measures up. International Journal of Business and Management 6(10), 278-283. Dan’s Auto and Trucks Repair (2013). Full Service Automotive and Heavy-Duty Diesel Truck and Trailer Repair Facility. Web. Janicijevic, N. (2010). Business processes in organizational diagnosis. Management: Journal of Contemporary Management Issues, 15(2), 85-106. Johnson, L. (2002). Issue selling in the organization. MIT Sloan Management Review, 43(3), 8-9. Winer, S. (2009). New communications approaches in marketing: issues and research directions. Journal of Interactive Marketing 23(2), 108-117. This term paper on Small business marketing plan. Dan’s Auto and Trucks Repair Company was written and submitted by user Amber K. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Owned and Operated essays

Owned and Operated essays The conflict position is that social inequality emerges through domination or constraint of one or more groups by other groups. Karl Marx believed the opposite of the functionalist perspective; instead of ideas influencing the economy the economy influences ideas. Max Weber expanded on Marxs view by saying that the economy influences ideas and vice versa. According to Marx, history is a series of conflicts by two opposing groups; the ruling class and the oppressed (respectively, the bourgeoisie and the proletariat). The bourgeoisie own the means of production, while the proletariat work in factories, producing. The proletariat, while being exploited by the bourgeoisie, have false consciousness. In order to overthrow the bourgeoisie, the proletariat must first gain class consciousness (the realization that they are oppressed by the bourgeoisie), then move toward revolution, overthrowing the bourgeiosie. After winning the revolution, there will be a dictatorship of the proletar iat where everyone works, doing what they can, and each receives what they need. Because of this unequal distribution of rewards in society, order is kept by the bourgeoisie (superordinate class) enforcing the rules on the proletariat (subordinate class) and creating rules that benefit the superordinate class. The bourgeoisie is in control of capital, which is stored-up, accumulated labor. The owner keeps this for himself, taking more profit from the workers and supplying fewer workers. Marx followed the critical-conflict paradigm, being distrustful of restraining social institutions. At the base of human societies, he saw class conflict, domination and an emphasis on dynamics and change, revolution being the catalyst for this change. As the main structure of conflict theory, the superstructure is shaped/determined by the substructure, thus, revolution must originate from the substructure. The superstructure has so much power because they r...

How to Use a Thesaurus - Word Reference Books

How to Use a Thesaurus - Word Reference Books A thesaurus is a tool you can use to search for synonyms and antonyms of other words. There are different types of thesauri and different methods for accessing information from them. Thesauri can come in the form of a book, an electronic device, a web site, or a word processing tool. When to Use a Thesaurus How many times have you struggled to find the best word to describe a feeling, a scene, or an impression? A thesaurus is used to help you become more precise (if you are working on a technical paper) and descriptive (if you are writing a creative piece) in your writing. It provides a list of suggested â€Å"replacements† for any word you have in mind. The thesaurus helps you zero in on the best word choice. A thesaurus can also be used as a vocabulary builder. You can use a thesaurus to discover new ways of expressing yourself. Accessing a Thesaurus If you are typing a paper in Microsoft Word or WordPerfect, you can access a thesaurus at any time by searching under the â€Å"tools† list. You may also right-click on a word and find alternate word suggestions.If you are working on a computer with Internet access, you can visit Thesaurus.com and conduct a word search.You can purchase a handbook or an electronic thesaurus and carry it along in your backpack. When You Shouldnt Use a Thesaurus Some teachers ask students to limit their use of a thesaurus. Why? If you rely too much on a thesaurus as you write a paper, you can end up with a paper that sounds amateurish. There is an art to finding a perfect word; but the nuance of expressions can work against you as easily against you as it could work for you. In short: don’t overdo it! Be a little parsimonious (thrifty, prudent, economical, sparing, careful, penny-wise, skimping, sparing, frugal) when using a thesaurus.

The Formation of Channel and Floodplain Habitats Essay

The Formation of Channel and Floodplain Habitats - Essay Example The abundance of LW in stream channels is an indication of the intimate association of river ecosystems with the surrounding terrestrial environment (Naiman and Bilby 1998, Naiman and Dà ©camps 1997). Understanding this relationship is crucial in river basin management. Large wood abundance in the watershed depends on channel size, channel type, and the surrounding riparian forest. LW is more abundant in small channels on a per unit area basis because LW is easily transported in larger channels; it follows that whilst abundance in large channels is lower, the average LW sizes are bigger (Bilby and Ward 1989). LW is also more abundant where the stream channel is unconstrained and has fine substrate compared to constrained channels with boulder substrate (Bilby and Wasserman 1989). Moreover, LW is more abundant in forests where conifers are dominant compared to forests where hardwoods are dominant because conifers are larger making them less transient (Harmon et al., 1986). The abundance of LW is also more pronounced where the forest is mature than in forest dominated by young stands of small hardwoods (Bilby and Ward 1991). Woodland river ecosystems in their natural and pristine conditions are surrounded by riparian forest and have multiple channels. Over the years, the anthropogenic disturbance has greatly reduced riparian forest cover, the topography graded for agricultural purposes, and rivers were constrained by levees into a single channel (Caroll & Robinson, 2007; Florsheim & Mount, 2002). Other than forest denudation, this also has deleterious effects on the morphological development of stream and the stream biota.  

Unplug Essay Example | Topics and Well Written Essays - 250 words

Unplug - Essay Example The documentary highlights the terrors associated with technology. Technology has transformed the way people act and interact in the contemporary society. Electronic devices drive people to distraction. For instance, texting and driving is a multitasking activity that has caused the death of several drivers because of the associated distraction. Technology calls for self-restraint, just like any other beneficial invention in the current century. I was unable to honor the pledge to unplug for 24 hours because I cannot live without my devices. In fact, I spent more time on my devices during that time, than I did previously. It is difficult to avoid technology owing to its varied benefits such as communication with friends, and entertainment purposes. Life would undoubtedly be extremely boring without the current technological trends, which are unquestionably addictive. It is difficult to understand why the directors made a documentary like DSKNECTD, considering I am using a laptop to type my assignment, about the film, while watching it on

Patagonia Another Way of Doing Business Essay Example for Free

Patagonia Another Way of Doing Business Essay 1Introduction Patagonia was founded in 1957 by Yvon Chouinard who defines himself as a reluctant business man. He started his business as a way to climb and surf year long, seeking to build the best product to satisfy his passion. â€Å"Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis. † –Patagonias Mission Statement Patagonia grew out of a small company that made tools for climbers. Alpinism remains at the heart of a worldwide business that still makes clothes for climbing as well as for skiing, snowboarding, surfing, fly fishing, paddling and trail running. Customers are willing to pay a premium for the Patagonia brand and environmental ethic. The companys goal is as simple as it is challenging: to produce the highest-quality products while doing the least possible harm to the environment. Yvon Chouinard founder and owner of Patagonia has done business differently since the beginning of the company, placing environmental sustainability and social welfare of his employee before profit. Three examples of the company practice will show how marketing and business can meet ethical behavior. Patagonia: a different workplace environment Patagonia is hiring only passionate people (friends, family†¦) who are also product user so they don’t have to understand the customer because they are the customer. Patagonia has developed the Let My People Go surfing flextime policy to cope with the employee passion (surfing, backcountry skiing†¦). There are no private offices and the architectural layout keep communication opens. The cafeter ia where employees can gather throughout the day serves healthy, mostly vegetarian food. The company has also an on-site child care center, the presence of children playing in the yard, or having lunch with their parents in the cafeteria helps keep the company atmosphere more familial than corporate. Patagonia has a program that allows employees to take off up to two months at full pay to work for environmental groups. Patagonia fosters creativity and authenticity through its work environment and hiring process enabling the development of original products. 3Patagonia: The 1% for the Planet Initiative Since 1985, Patagonia has devoted 1% of its sales to the preservation and restoration of the natural environment. The company has awarded over $46 million in cash and in-kind donations to domestic and international grassroots environmental. In 2002, founder of Patagonia, Yvon Chouinard, and Craig Mathews, owner of Blue Ribbon Flies, created a non-profit corporation to encourage other businesses to do the same. 1% For The Planet is an alliance of businesses that understand the necessity of protecting the natural environment. As of today 1401 companies are members of the 1% for the Planet Initiative and donate 1% of their sales to a network of 2,735 environmental organizations worldwide. More than a marketing campaign, The 1% for the Planet Initiative is a really strong statement from Patagonia (no matter what are the financial results 1% of its sales will serve the environmental cause every year), it has reinforced the company corporate social responsibility and ethical image, hence the loyalty of its core customers. 4Patagonia: The Common Threads Initiative This marketing program first asks customers to not buy something if they dont need it, then if they do need it, Patagonia ask that they buy what will last a long time and to repair what breaks, reuse or resell whatever they dont wear any more. And, finally, recycle whatevers truly worn out. Patagonia with The Common Threads Initiative is the first private company launching a marketing campaign telling its customers to buy less or to buy used gear. In September 2011 Patagonia launched an online marketplace in collaboration with eBay for customers to sell and buy their used Patagonia products. This feature is displayed on the homepage of patagonia. com. Recycling is what we do when were out of options to avoid, repair, or reuse the product first. Thats why I am so impressed with Patagonia for starting its Common Threads Initiative with the real solution: Reduce. Dont buy what we dont need. Repair: Fix stuff that still has life in it. Reuse: Share. Then, only when youve exhausted those options, recycle (Leonard, 2011). This new marketing campaign was unveiled at the New York fashion week as an experiment. Only a private company without public shareholder and a charismatic leader with strong belief can promote such a different business attitude. 5Conclusion Patagonia has always done business and marketing differently. In the seventies Chouinard Equipment had become the largest supplier of climbing hardware in the U. S. It had also become an environmental threat because its gear was damaging the rock. Yvon Chouinard and his partner decided to phase out of this business even it if was the main source of revenue for the company, it was the first environmental step for Patagonia. Instead of focusing on profit the company took a big risk by discontinuing a successful line of products to promote an alternative solution (aluminum chocks) for climbers. It became a success because Patagonia crafted the right product with the right message and stayed true to its core values. Today with the Common Threads Initiative they are pursuing the exact same philosophy and trying to push the industry to adopt more ethical business behaviors. Patagonia’s highly public search for a new way of doing business implies a new kind of relationship with customers, reinforced by unconditional guarantees, extremely high product quality and an explicit commitment to ethical codes of behavior (Reinhardt, 2000).

Free College Essays - Hardships in Ordinary People :: Ordinary People

Ordinary People - Hardships The theme of Ordinary People can be said best in the words of Honi Werner, " Some things cannot be foreseen or understood or blamed on anyone- they can just be endured. Love, openly shared, is the only thing one can count on to give them strength for that endurance.†   Ordinary People gives a wonderful example of real life and addresses many internal conflicts. This story about a boy's recovery after his brother's death is extremely engrossing and captivating. Throughout the entire book the reader is gradually and constantly exposed to aspects of each character's personality.   Ã‚   The characters are extremely well developed and very enthralling.   Conrad is the most complex character. Guest did a wonderful job revealing that complexity clearly. I also enjoyed the various internal conflicts that were faced. Conrad was faced with many conflicts including; dealing with his parents and friends, forgiving himself as well as others for his brother's death, and allowing himself to express emotion. These conflicts made me look carefully at some of my own problems. This book is definitely made to make people think and not simply to entertain though it accomplishes both successfully. There were few aspects of the story that I disliked. At first I was not pleased with the ending because I felt that it had no resolution. Later, I realized that Ordinary People had quite a powerful ending. I do, however, think that Guest could have given a little more background on the family and written in a way that would make it easier to understand who was speaking. This book would no t be liked and appreciated by all. Most people, however, would enjoy it because it is realistic and relative to most people's lives. This book was definitely written for a mature audience that enjoys reading about real-life circumstances. This novel makes a wonderful movie that is both powerful and sorrowful. Timothy Hutton won an Oscar for his portrayal of Conrad Jarrett. I would certainly read this book again. There are so many hidden meanings and themes that I think one would discover new insights each reading. Ordinary People is humorous, entertaining, well written and very moving. Conrad is an accurate depiction of a teenager of that time. This story makes the reader appreciate life and realize that no matter how much he wants to escape his problems and feelings, he can not run away from himself.

Cisco’s Strategy in Recessionary Times Essay

Executive Summary This report is an examination into the strategic management practices used by Cisco Systems, Inc., over the dot com bubble from 1997 to 2000 and an overview of Cisco as a company, and its acquisitions over the past 20 years. The report was created by Alex Quigley, Eoin McCrann and Daniel Ozac, as part of a continuous assessment deliverable as part of BSHCE3, Hons Degree in  computing at the National College of Ireland. It is supported by a PowerPoint presentation of the same name, in the attached appendix. Introduction The report will first review the literature used during the research of the topic and outline the types of information resources used during the reports generation and an overview of these findings. There is an attached overview of Cisco as a company (Appendix A) which outlines how it was founded, and its current market position, and a brief history. Next, we will take a high level overview of their strategy and then identify the key strategic tools used by the company and how they differed at the time from their competitors in this regard. Next we will look in detail at Cisco’s acquisitions over the past 20 years since the company formed, and how this particular strategy was affected by the crash. After this we will look at Cisco’s financials and how their strategy has enabled such large growth. The importance of their strategic choices in developing this financial growth, and finally some of the possible risks associated with the key strategic tools used by the company during this period. Finally, a conclusion and summary of our findings and an appendix for the resource references used during the research, and an appendix of financial information. Literature Review  From the outset the base for all our research started with the case study (Indu, 2010). This gave us a very good overview of the company and how it has, over the past 20 years, faced great triumph in the face of adversity, and bounced back, particularly after difficult times throughout the company’s history In particular during recessionary times such as the dot com crash and the recent global economic downturn. The course notes from BSHCE3 Strategic Management were used to identify the key strategic management tools. Wikipedia was also liberally used to identify and further expand on some of these tools, their founders and also  as a high level overview of Cisco as a company. Other online resources that proved very informative during research were CNN and in particular the money section of the website which maintains detailed information on a large number of companies, and the NASDAQ website which also maintains (as expected) detailed stock and financial information. It’s also worth mentioning that Cisco’s own website is very informative, with detailed financial and organizational structure. Strategic Overview From the case study delivered during class (Indu, 2010) it is clear that Cisco’s goal was to increase market share and maintain a sustained growth. Added to this continued improvement to customer and supplier relations. The company’s current mission statement states that; ‘Cisco’s mission is to shape the future of the Internet by creating unprecedented value and opportunity for our customers, employees, investors, and ecosystem partners.’ (Cisco.com) With a strong customer focus at the core of their business, another strategy employed by Cisco is to position themselves close to not only the customer but suppliers too. This closeness and strength of supplier relations allows Cisco to respond quickly to changing customer and in fact market demands and trends. One of the strategic applications to enable growth and innovation was the use of acquisitions. From 1993 to present day Cisco has acquired over 150 companies in a wide range of Information Technology and Networking sectors. This is facilitating gaining and maintaining competitive advantage. However, proving the strength of the management and effective adaptation, Cisco has been able to change their strategy when required and in 2000, after the dot com bubble burst, its highly successful strategy of procurement was abandoned and under the leadership of John Chambers, the  company was able to successfully tighten its purse string, downsize the business and successfully ride out the storm. This leads to another strategy employed by Cisco, and one that has not been helped employee relations, the choice to downsize during periods of economic or market downturn. This retrenchment again shows Cisco’s effective adaptation, but has led to issues with morale among employees. Ciscos core business is networks, communication and information technology. So it is no surprise that in parallel to providing companies with the tools and information systems seen as ‘strategically important’, they themselves view these systems as paramount to the company’s success. Examples of this are the ‘bug alert’ system implemented in 93 and even earlier, the FTP site a database to allow customers and developers improve existing components and systems. One defining factor in all Cisco’s strategic choices has been to stick to the knitting. As Peter Drucker stated; ‘Think through the overall mission of a business, and ask the question: What is our business?’ In Cisco’s case, their business through numerous acquisitions and strategic changes has essentially remained the same. Chambers believed that there are 4 key elements that a company needs in order to survive a recession; 1. Being realistic about the CAUSE of your challenges – don’t just blame a recession, focus internally as well, is there something you’re doing as well? 2. Try to determine the length and intensity of the downturn – then respond appropriately 3. Prepare for the upturn – Survive and thrive, gain market share 4. Expand customer relationships – customers can give insight into when the recession may end And this isn’t always the best strategy, as it does not allow for innovation internally within the organisation. The lack of intrapreneurship has led to poor company ratings in terms of ‘great place to work’ scores. In order for Cisco to get new products or enter into a new market, they generally have to purchase a new company rather than use organic growth or in-house smarts. Their competitors on the other hand employ strategies of organic growth and are less inclined to purchase companies in order to gain entry into different markets. However there have been some key acquisitions that allowed direct competition to Cisco, which will be discussed in more detail in the next section. Cisco through every recession have maintained large assets and cash. They saw it as vital in order to survive. This allowed them to make bold decisions when most companies are cutting back, and also respond immediately when the market begins to pick up again. Something competitors have had difficulty with. Acquisition Timeline As stated previously, Cisco’s core business has been a factor in the type of businesses acquired over the company’s history. From 1993 to 2000, there was a sustained level of acquisition, increasing year on year. During this time Cisco has acquired over 150 companies, most of which were US based. Figure [ 1 ]| However, it’s clear from ‘Figure 1’ above that after the crash in 2000, Cisco drastically decreased acquisitions with only one acquisition in 2001. In the two years previous to this Cisco had acquired an amazing total of 40 companies. And once again in 2008 the company slowed acquisitions to match the downturn in demand for their products. Although not as drastically as 2001. They used these times to focus on new emerging markets, and develop new technologies. Figure [ 2 ]| Most of these businesses were related to the area of Computer Networking, Lan Switching, Gateways and Routers. This is in keeping with Cisco’s strategy of ‘stick to the knitting’. Second to these is the VOIP technology sector. By 2004, Cisco had returned to its acquisition strategy and sustains this level for a number of years. What is interesting is if you map the NASDAQ composite index, which is heavily populated with IT related companies; it almost perfectly matches the acquisition timeline for Cisco, as can be seen  in ‘Figure 3’ below. Figure [ 3 ]| Cisco didn’t just acquire the companies and integrate the management of them into their own structure. For the most part these companies were allowed to continue as individual entities, and keep their existing structure and organisational managers. Competitors Acquisitions Hewlett Packard One of Cisco’s competitors is HP, the computer hardware and software giant. In 2008, HP acquired Colubris Networks. Colubris Networks provide organizations with advanced wireless networking solutions that unify and integrate with existing network infrastructures, as well as security and management systems. This was an attempt by HP to try and take market share of Cisco’s strong hold on network infrastructure, and in this case the wireless LAN market. In 2009, HP purchased 3COM, the digital electronics manufacturer best known for its computer network infrastructure products, for $2.7 billion. This was a huge strategic move from HP to strengthen their position in the market which Cisco has been controlling. HP realized there were large gaps in its product line, mainly network switching, which would take too long to fill organically and needed a quick-fix. HP wanted to take on Cisco in this sector, and 3Com wanted to expand outside of China. This acquisition meant the Introduction of low-cost switches, which was a competitive advantage that Cisco was unable to match. Juniper Networks Another of Cisco’s direct competitors, Juniper networks, a networking equipment manufacturer based in Sunnyvale, California. In contrast, Juniper had no acquisitions between 2006 and 2009, and instead focused all their efforts on internal innovation and organic growth. However in 2010 they acquired Ankeena Networks for $100 million. This was a  move to directly compete against CSICO’s video conferencing market position. Ankeena Networks deliver new media infrastructure technology, and their technology is designed to help service providers deliver a better video experience on both fixed and mobile devices. Also in 2010, Juniper purchased Blackwave Networks in order to support Ankeena networks. Blackwave networks key business is to provide video storage and delivery. Both of these purchases were seen as Juniper bulking-up its video delivery capabilities in order to take on Cisco in this area. Polycom As with Juniper acquisitions in 2010, Polycom’s core business is in the area of video conferencing and in particular Telepresence and supporting infrastructure equipment. Between 2008 and 2010 they did not acquire any companies. In 2011 they acquired HP Visual Collaboration, a network and video management company for $89m. This move was in response to Cisco’s hostile $3.3bln takeover of Tandberg. The purchase was to strengthen Polycom’s position and ensure that they are strong enough to compete with Cisco. Strategic Tools A number of tools exist to assist organisations in developing strategies and insight on what industries and areas their business should focus on. Some of these are outlined below. SWOT Analysis A planning method used to determine the internal factors: strengths, and weaknesses, as well as the external factors: opportunities and threats, facing a project or organisation. The SWOT analysis helps project managers or organisations with the decision-making process. It is especially useful when considering entry into a new market, or when releasing a new product. It can be used to develop a strategy to help distinguish your organisation from your competitors. Porter’s 5 Forces A technique used to determine the intensity of competition within your market. The five forces are: threat of new entrants, threat of substitute products, and bargaining power of suppliers, bargaining power of buyers and the intensity of competitive rivalry. It is used to show the relative attractiveness of a particular market, and as such helps with the decision-making process for project managers and organisations. PEST Market Analysis Tool A tool used to help understand market growth or decline. PEST is an acronym for Political/Legal, Economic, Socio-Cultural, and Technological. Like SWOT and Porter’s 5 Forces, PEST is used to analyse or review a strategy or position at a given time and then help with the decision-making process. Other Other tools include Management by Objectives (MBO), TOWS Matrix, Internal Analysis, Value Chain and BCG Portfolio Model, but for this report we will focus on the three tools above, and how they relate to Ciscos management strategy. Strategic Tools on Cisco SWOT Analysis The SWOT analysis outlines internal strengths and weaknesses and external opportunities and threats. Strengths  In terms of internal strengths, Cisco is in a very good market position for its main core products (networking equipment) and is seen as the market leader in this area. Cisco has number of alliances with major players in the market, including Microsoft and IBM. Cisco also maintains a very strong balance sheet every year, ensuring a large supply of cash is available. Weaknesses Conversely, its main weakness is the high cost of its products, when compared to its competitors (e.g. HP and their low-cost range of network switches). This is not a major problem for Cisco however, as their focus is on reliability and customer satisfaction, not beating prices with competitors. Other weaknesses include the lack of a presence in the consumer market and the lack of innovation. Cisco’s growth and new product line comes from acquisitions rather than internal innovation and organic development. Opportunities Opportunities in the market include cloud computing, smart-grid technology, the home consumer market and the area of video conferencing thanks to its acquisition of Tandberg. Threats  The main external threat to Cisco is the unstable global economy. Chambers was initially very optimistic about the economic recovery; however he has recently toned-down his statements and has admitted that recovery may take longer than initially expected. Other threats include cheaper alternatives and their direct competitors: Hewlett-Packard, Juniper and IBM. Figure [ 4 ]| Porter’s 5 Forces Porter’s 5 Forces model helps to determine the level of a number of factors. Once established, this helps to determine the relative attractiveness of a particular market or sector. Threat of New Entrants: MEDIUM Large enterprises will generally only enter the market by acquiring specialist companies, and small companies will not really be able to compete due to the infrastructure and resources required. Any small, successful start-up will generally be acquisitioned by a larger one. Because of these factors the threat of new entrants into Cisco’s core market (design and manufacture of networking equipment) is medium. Bargaining Power of Suppliers: LOW Cisco generally uses short-term contracts with its suppliers. This allows them to easily adjust their output depending on supply and demand. Cisco also uses a multitude of different suppliers across the globe. Their main focus is on reliability and customer satisfaction rather than competing on price. For these reasons the suppliers have a low level of bargaining power. Bargaining Power of Buyers: HIGH In terms of networking equipment and video conferencing facilities, there are a wide range of suppliers for customers to choose from. These include Hewlett-Packard, Juniper, and Polycom. There are also cheaper alternatives in the market. This gives the customers much more bargaining power. Threat of Substitute Products: LOW Organisations rely on networking equipment such as hubs, switches and routers. They are vital to networks and will not be replaced by substitute products. Therefore the threat to Cisco is low. Intensity of Competitive Rivalry: HIGH The sector is very competitive with HP and Juniper seen as Cisco’s main rivals. Cisco’s entry into the videoconferencing and Telepresence market has increased this rivalry. Cisco is still seen as the market leader. PEST Market Analysis This market analysis used to help understand market growth or decline and help to influence the decision-making process. Political & Legal  Political and legal considerations for Cisco include regulations regarding customer and employee data privacy and security. Given the market they operate in, their products need to adhere to many different standards and certifications. These include ISO, IEEE, IETF, ITU and Wi-Fi Alliance. As Cisco is an international organisation operating in many different countries across the globe, they must be aware of differing national laws and regulations. A major strategy of theirs is the acquisition of other organisations. They must therefore be aware of the laws and regulations governing this process in different countries and continents, e.g. the acquisition of TV software developer NDS had to be approved by the European Commission. Economic The current economic outlook is poor, with low growth and uncertainty about when it will end. There are high unemployment rates across the globe, low inflation rates and increased labour costs. Current rates of interest are also important. These are all factors that Cisco will consider with any new  venture. Socio-Cultural Demographics, language, culture, customs and religion are not really a huge concern for Cisco. One socio-cultural issue that may relate to them is the current trend of technical people leaning more towards open-source software and hardware products. This may have a negative impact on some areas that Cisco operates in, as Cisco IOS is closed-source. However Cisco does work with over 40 open source software projects. Another area that Cisco will consider is the green and renewable energy sectors. Cisco’s recycling and emissions and energy consumption reduction programs have worked well and even resulted in them becoming certified. Cisco is also one of the driving forces behind making purchases from women, veteran and minority-owned companies. Technological Cisco spends nearly $5.3 billion on research and development per year, ensuring that they stay at the cutting-edge of technology. In terms of innovation Cisco generally â€Å"stick to the knitting†, i.e. they stick to their core competencies and acquisition other organisations when moving into new areas. Areas of technological growth include video and teleconferencing, telepresence, unified communication, big-data, cloud computing and smart grid (overlaying a digital network onto the existing electrical network). Figure [ 5 ]| Financial Overview Looking at Cisco’s finances provides and insight into invest psychology. Going back to 1993 (Figure 6) we can see that Cisco had strong earnings growth. Cisco really suffered during the recession in 2001 as they were unable to predict economic downturn and net sales fell by almost 30 per cent. Chambers was forced to write off inventory of $2.2 billion, and 8,500 people were made redundant. Figure [ 6 ]| Reorganisation The reorganisation of its operations after the crisis in 2001 was followed by  strong growth. By looking at the Cisco’s last year’s financial statements (Figure 7) we observe that their bottom line, in other words, Net Income was pretty stable and year over year, has known a continued growth from 2003 onwards, except the last couple of years, starting with 2008 when the net income declined to 2009 and got back pretty much as the same level in 2010 and once again declined from 2010 to 2011 but then increased from 2011 to 2012 exceeding this time the 2010 level. Figure 7| Technology Bubble The orange line on the graph represents earnings per share growth and as we can see since 1993, the average operating earnings growth rate has averaged 24.5% a year. The black line represents the monthly closing stock prices. As we can see at the beginning the earnings in price track each other very closely and then between 1997 and 2000 we observe that Cisco stocks became overpriced which matched the other trends in the technology market during the dotcom bubble. It climaxed on March 10, 2000, with the NASDAQ peaking at 5132.52 in intraday trading before closing at 5048.62. (Jesse Colombo, 2012). We can clearly see how during this period Cisco became disconnected from growth and earnings. The price collapsed as a consequence. However, since 2002 – 2003 Cisco stocks has traded more in line with its operating earnings growth (Appendix A, Earnings Growth). Price Earnings Ratio Although Cisco is trying to ensure a dominant position in all of its markets (and reflected in last quarterly results) their earnings were above expectations. This doesn’t give a clear picture of the potential for continued growth for investors. Price Earnings Ratio demonstrates investor psychology in the (Figure 7). It illustrates value in relation to the company’s earnings and is strictly related their yearly financial statements translated into net income. The higher the price earnings ratio the more the market is willing to pay for the company’s earnings. Conversely, a low P/E may indicate a â€Å"vote of no confidence† by the market or it could mean this is a sleeper that the market has overlooked. Known as value stocks, many investors made their fortunes spotting these â€Å"diamonds in the rough† before the rest of the market discovered their true worth. (Ken Little. 2012). Looking closer at earnings growth rate for the time frame 2003 – 2012, we observe that Cisco is averaging at almost 20 per cent stock growth a year (Figure 8) and since 2003 there was a time when the P/E ratio was much higher. Figure 8| By looking below at the P/E graph (Figure 9) we can see that by Fiscal Year End 2003 was nearly 40, by Fiscal Year End 2004 it dropped to 28 and then by Fiscal Year 2005 again to 21. We can see a continuous drop, in 2012 was just over 10 and currently the P/E ratio is around 12.0 based on the closing price of March 28th 2013. Figure 9| Finances over the Last Decade Looking at Cisco’s financial statements for 2003 – 2013 and the historical stock price trends, we can see that Cisco had an accelerated earnings growth. The graph below (Figure 10) outlines this cyclical nature. Figure 10| They had a growth rate of 89 per cent in 2003, 43 per cent in 2004 but by 2009 there was a 19 per cent decrease. This was during the global economic downturn and reflected in their financial statement. Despite that, it’s clear that the company was very profitable. Their earnings increased 24 per cent and are forecasted to reach 20 per cent by the end of the fiscal year 2013. Financial Observations Below are observations on Cisco’s last Financial Results for Q2 2013 released  February 13, 2013. Cisco reported so far a very strong FY 2013 earnings, maintaining their leadership positions in key areas of IT infrastructure such as Switches and Routers, while the firm’s financial strength in terms of cash flow allow them to catch up and surpass other companies in areas such as Wireless, where it wasn’t initially a market leader. Figure 11| The data above, (Figure 11) illustrates Q2 net sales of $12.098 billion, with an increase of 5% year over year. GAAP net income and GAAP earnings per share, for the second quarter of fiscal 2013, included total tax benefits of approximately $926 million or $0.17 per share (Julie Bort, 2013). Product revenue grew 3% while services revenue grew an impressive 10%. Cash flow from operations was well over $3 billion and the company continues its prodigious free cash flow production, which according to Frank Calderoni the CFO, Cisco: â€Å"Cash is King. It enables us to make bold moves.† Gross margins have been very stable around 62% lately for Cisco, exhibiting the strength of the brand versus its competition. According to the analysts, Cisco’s Services business is a key differentiator between it and its competition, and because the margins are higher on Services than Products, the company’s total gross margin should continue to improve slightly (Tim Travis, 2013). According to John Chambers, Cisco chairman and chief executive officer: â€Å"Cisco delivered earnings per share this quarter and record revenue for the 8th quarter in a row in a challenging economic environment. We continue to drive the innovation, quality and leadership our customers expect, and we remain focused on consistent returns to our shareholders†. Strategic Risks Innovation Momentum According to Forbes magazine Cisco lost its â€Å"innovation momentum† and that’s because they relied more on external acquisitions for new product  development: the reliance on external rather than internal sources of innovation, e.g., the purchase of start-ups with promising products. The problem with this strategy, however, is that it is costly, destructive, and unsustainable. It is costly because the would-be acquirers end up buying start-ups that fail to produce any marketable products. It is destructive because it eventually distances would-be acquirers from their end customers. It is unsustainable because it often ends up fuelling bidding wars, as the owners of these smaller companies demand higher and higher premium to compensate them for the risks they assume. (Panos Mourdoukoutas, 2012) Acquisition Strategy Over the period 1993-2013, Cisco acquired one hundred and fifty six companies. Some of the latest acquisitions are Meraki (2012) operating in the Wired and Wireless Cloud networking market, SolveDirect (2013) operating in the Cloud Services market, Intucell (2013) operating in the Mobile Software market†¦etc. By relaying your company strategy only on acquisition you forget to cultivate innovation and creativity across your own organisation and we believe that Cisco strategy in the long run might bounce back as a failure and affect their core competencies. Core Competencies By definition the core competencies differentiate an organization from its competition. The Core Competencies create a company’s competitive advantage in the marketplace and typically, a core competency refers to a company’s set of skills or experience in some activity, rather than physical or financial assets. If we look at the case study (Indu, 2010) and where Cisco stands today within the IT market, we realise indeed that their resources in terms of reputation, brand, financial assets and products are still strong, but in terms of capabilities and talent which help to sustain innovation as a key differentiator between market leaders and their rivals, they have chosen the wrong path. New Markets There is no doubt that Chambers is a successful CEO. This can be seen in Cisco’s last year’s financial statements but since Cloud computing technology has gone mainstream and greater use of mobile telephony networks. Cisco has been unable to innovate, launch and grow new markets for services or applications. According to Forbes Magazine, Chambers has reorganized the company 3 times – but it has been much like rearranging the deck chairs on the Titanic: â€Å"Lots of confusion, but no improvement in results† (Adam Hartung, 2012). Strategic Vision Another risk to be noted is the â€Å"Where to go vision† – distraction and lack of a long-term vision adopted by Cisco is a major risk for the company. In one of his statements, Chambers said: â€Å"I don’t make my decision on the next quarter or on the next year. I make my decision three or five years out so I do not adjust my strategy based on what’s the spending is going to be next quarter or three quarters.† With instability shown in the financial markets for the last couple of years and the prolonged economic recession along with low consumer confidence there is a disjoint with Chambers strategic statements. Consumer Market Penetration Cisco’s growth has been based on a strategy of acquisitions. The main reason behind this was the penetration or expansion of new market opportunities. Cisco have made several ambitious moves into the markets for enterprise tablets, video conferencing and consumer products. Some of these decisions have been ineffective in competing in these markets. In some cases, due to excessive prices and faster development and deployment cycles of competitors. In today’s competitive tech environment those who are slow in bringing innovation and new products to the market will fail to succeed. An example of reinventing the wheel could be Cisco’s Flip camcorder which they acquired in 2009 from Pure Digital. The product failed and the $590 million investment was lost. Customers’ needs are constantly changing and want their technology suppliers to offer those sophisticated services and equipment. Like other tech giants, Cisco is struggling to adapt to changing market conditions and demand in terms of technology and products. Building Revenue Erik Suppiger, an analyst with JMP Securities in San FranCisco, said Cisco â€Å"did a good job managing costs, and keeping their margins up, but there’s a lot of concern about what they can do to build revenue. Building a cloud and wireless business eats into your traditional product lines. If you have a wireless laptop, you don’t need a desktop computer connected to your office network† (Quentin Hardy, 2013). It seems that Chambers, who has led Cisco for 18 years, is well aware of this problem, in one of the latest interviews he said: â€Å"We’d gotten too fat. And when you get fat, you’re slow in decision-making. It had been so easy to say we’re the best in our industry, we don’t need to change, but that’s exactly how you disappear† (Charlie Rose, 2012). Although Cisco reported Q2 earnings more than Wall Street expected, Chambers warned of â€Å"a challenging economic environment.† Distinction Considering Cisco’s latest acquisitions (Intucell, Jan 2013; Solve Direct, March 2013) in mobile software and cloud services, there are signs of progress. However, it is unclear whether Cisco will succeed before Chambers retires in two to four years. His greatest achievement may be building software and services that are distinct from its existing core competencies and product line. Conclusion After in depth analysis of Cisco’s strategic management practices it is clear the company is not without its faults. People in the business community do not agree with some of the strategic decisions made by chambers and this has in some cases lead to a lack of confidence in the company’s progress. It’s also worth mentioning the workforce have ranked the company low in terms of ‘great place to work’ scores. Acquisitions prevent entrepreneurship, and  the lack of solid competition has meant that it is unclear whether Cisco would be able to cope with less of the market share if another big player offering cheaper products was to gain momentum. However, Cisco is a large company with a huge workforce, a substantial stockpile of cash and assets, strong share price and excellent revenue. So for the time being, Chambers and Cisco, have put their critics in their place. References Jim Duffy. (2009). HP’s 3Com acquisition: An inside look. Available: http://www.networkworld.com/news/2009/111309-hp-3com-haas.html?nwwpkg=hp. Last accessed March 2013. John Dix. (2009). HP puts the net pedal to the metal. Available: https://www.networkworld.com/news/2009/091409-haas.html. Last accessed March 2013. wikipedia. (2013). HP puts the net pedal to the metal. Available: http://en.wikipedia.org/wiki/List_of_acquisitions_by_Hewlett-Packard. Last accessed March 2013. wikipedia. (2013). Juniper Networks. Available: http://en.wikipedia.org/wiki/Juniper_Networks#Major_acquisitions. Last accessed March 2013. Colleen Nichols. (2013). JUNIPER NETWORKS ACQUIRES ADVANCED VIDEO DELIVERY TECHNOLOGY FROM BLACKWAVE. Available: http://juniper.mwnewsroom.com/manual-releases/2010/Juniper-Networks-Acquires-Advanced-Video-Delivery-. Last accessed March 2013. Burt, Jeffrey. (2013). Juniper Buys Ankeena to Help Compete with Cisco. Available: http://www.eweek.com/c/a/Enterprise-Networking/Juniper-Buys-Ankeena-to-Help-Compete-with-Cisco-161910/ Last accessed March 2013. wikipedia. (2013). Polycom. Available: http://en.wikipedia.org/wiki/Polycom#Acquisitions. Last accessed March 2013. Cisco. (2013). Business Designation. Available: http://www.Cisco.com/web/about/ac50/ac142/docs/business_designation_us.pdf. Last accessed March 2013. Cisco. (2013). Health & Safety. Available: http://www.Cisco.com/web/about/ac50/ac142/docs/health_safety.pdf. Last accessed March 2013. Cisco. (2013). Opensource. Available: http://www.Cisco.com/web/about/doing_business/open_source/source/index.html. Last accessed March 2013 wikipedia. (2013). List of acquisitions by Cisco Systems. Available: http://en.wikipedia.org/wiki/List_of_acquisitions_by_Cisco_Systems. Last accessed March 2013. google. (2013). Finance. Available: https://www.google.com/finance. Last accessed March 2013. tradingeconomics.com. (2013). -. Available: http://www.tradingeconomics.com. Last accessed March 2013. Mourdoukoutas, Panos. (2013). Two strategy lessons for Cisco Systems. Available: http://www.forbes.com/sites/panosmourdoukoutas/2011/09/13/two-strategy-lessons-for-Cisco-systems/. Last accessed March 2013. Hartung, Adam. (2012 ). Oops! Five CEOs Who Should Have Already Been Fired (Cisco, GE, WalMart, Sears, Microsoft). Available: http://www.forbes.com/sites/adamhartung/2012/05/12/oops-5-ceos-that-should-have-already-been-fired-Cisco-ge-walmart-sears-microsoft/. Last accessed 30th March 2013. Rose, Charlie. (2012). Charlie Rose Talks to Cisco’s John Chambers. Available: http://www.businessweek.com/articles/2012-04-19/charlie-rose-talks-to-Ciscos-john-chambers. Last accessed 1st April 2013. Little, Ken. (2012). Understanding Price to Earnings Ratio. Available: http://stocks.about.com/od/evaluatingstocks/a/pe.htm. Last accessed 30th March 2013. Colombo, Jesse. (2012). The Dot-com Bubble. Available: http://www.stock-market-crash.net/dot-com-bubble/. Last accessed 30th March 2013. Bort, Julie. (2013). Cisco Beats On Earnings, Is Right In Line For Revenue. Available: http://www.businessinsider.com/Cisco-beats-on-earnings-is-right-in-line-for-revenue-2013-2. Last accessed 30th March 2013. Mourdoukoutas, Panos. (2012). Why Apple, Google, and Corning have an Innovation Edge over Cisco and Hewlett-Packard?. Available: http://www.forbes.com/sites/panosmourdoukoutas/2012/01/23/why-apple-google-and-corning-have-an-innovation-edge-over-Cisco-and-hewlett-packard/. Last accessed 31st March 2012. Travis, Tim. (2013). 12 Years After The Bubble Cisco Is Ripe For The Taking: Update. Available: http://seekingalpha.com/article/1183801-12-years-after-the-bubble-Cisco-is-ripe-for-the-taking-update. Last accessed 30th March 2013. Hardy, Quentin. (2013). Cisco Struggles to Adapt, Even as Profit Rises. Available: http://www.nytimes.com/2013/02/14/business/Cisco-tops-expectations-with-rise-in-profit-of-44.html. Last accessed 1st April 2013. P, Indu . (2010). Cisco strategy in recessionary times. Under the direction of Vivek Gupta Cisco Overview Cisco Overview Appendix A In 1984, a small group of computer scientists, namely Leonard Bosack, Sandy Lerner and Richard Troiano, created an Internet Operating System in San Jose. This OS was loaded into a box for routing and facilitated the communication between two computers. It’s interesting to note that ‘In search of Excellence’ (1982, Peters and Waterman) states that one of the key themes for a successful company are to stick to the knitting. In other words stay with the core business. Cisco, since 1984 have done just that. Their popularity grew and they implemented an FTP site to allow customers and developers to access a DB of bug information. By 1990 the company had gone public and had sales in the region of $70m with a net income of almost $14m. They had massive amounts of support centre calls, and supplied routers to the biggest players in the telecom world at the time. By 1992, ‘Fortune’s second fastest growing company in the US, had achieved sales of almost $340m, and had branched out to Europe and beyond. In 1993 they again showed strong customer focus by creating bug tracking systems, to support large corporation who used their products. In 1993 the company completed their first large scale acquisition of Crescendo communications for $95m and the following year New Port solutions for $93m. These were the first in a long list of acquisitions for Cisco and by the mid 90’s the company had a strong brand signature, excellent customer focus and a global footprint. By 1999, the company had revenues of over $12bn. This surge continued and in 2000 market capitalization grossed over $450bn. The company acquired over 40 companies over these 2 years, and demand was so high the production of equipment could not meet the customer demands. Customers began to look elsewhere, and at the same time the cracks in the IT market began to show. Cisco began stock piling, which was not in keeping with their practices, and in the ensuing recession, the company were forced to downsize, with 8500 job losses, and reported loses of almost $2.7bn, a complete reversal of the growth and fortunes up to that time. Figure 12 Figure 12 With John Chambers at the helm, the company drastically slowed down acquisitions, reduced the number of suppliers and resellers and began to steadily grow the company once again, and by 2009 emerged as a pioneer in data management with 75% of the world’s data being managed in some form by the company. One of the few companies to successfully withstand economic slowdown, Cisco, at present sits at number 64 of the fortune 500 list, with total equity of $51bn and 73k+ employees worldwide. Appendix B Earnings Growth Earnings Growth Acquisitions

Agricultural Problems In Cyprus

The backbone of Cyprus economy when it achieved its independence was agriculture. The major contribution came from small farms and at times from subsistence farms. Exportation of vegetables and fruits were made possible by irrigation projects in the nineteen sixties. The demands for wine, meat and dairy products were met by commercialized farming.In the early nineteen seventies, the farms supplied   about seventy percent of commodity exports and employed one third of the island's active population despite the fact that the farms were still overwhelmingly small[1]. However, the expansion of manufacturing and service sector led to a decline in the importance of agriculture.The share of agriculture's Gross Domestic Product in the first half of the nineteen seventies amounted to eighteen percent.The northern Turkish Cypriot community was left in possession of agricultural resources with the nineteen seventy four de facto division of the island. It produced four-fifth of cereal and citr us crops, all of the tobacco and two thirds of the green fodder.The south on the other hand retained the entire island's grape growing areas and deciduous fruit orchards. The south was also in possession of about seventy fiver percent of the valuable potato crops and other vegetables and half of the island's olive trees. It also had sixty three percent of its carob trees.Two thirds of the livestock population was also in the south. A large scale uncoordinated exchange of agricultural labor between the north and south was created by the Turkish occupation of the region[2]. This led to agricultural unemployment which was countered by government actions. Such government actions included assisting farmers financially under terms that would enable them to carry out their activities without much burden.By nineteen seventy eight, the number of individuals employed in the agricultural sector under government controlled area constituted twenty three percent of the working population. The agr icultural sector's workforce however declined to 20.7 percent in nineteen seventy nine and 15.8 percent in nineteen eighty seven[3].Its contribution to the overall economy of the state also declined from 17.3 percent GDP in nineteen seventy six to ten point seven percent in nineteen seventy nine and a further seven point seven percent in nineteen ninety eight[4].This share was vital to the economy of the south. In nineteen eighty eight, value added in agriculture at constant nineteen ninety five prices amounted to one hundred and twelve million-seven hundred thousand Cyprus pound.As the service sector increasingly became dominant in the economy of the Greek Cypriots, the share of agriculture in the national economy declined even further in the nineteen nineties. However, the favorable climate of the region and the availability of market owing to its location still mean that agriculture will continue playing an important and stable role in the overall economy.The irrigation projects set by the government, tax policies and subsidies encouraged the existence of farming as well as research in exotic crops and new varieties of the ones that already exist. The effort to improve agriculture, forestry and fishing was overseen by the Ministry of Agriculture and Natural Resources.This ministry was supported by Agricultural Research Institute, Meteorological Service, Department of Water Services, the Veterinary Service and the Department of Geological Survey[5]. All these departments worked together in formulation of policies that affect the sector.The government also encouraged agriculture in addition to macroeconomic considerations since it offered the rural population employment which maintained village life and relieved urban crowding. Part time agricultural work also allowed the urban residents to maintain contact with their villages besides offering them supplemental income.The contribution of agriculture to the national economy has steadily declined. However, in t he past decade it has stabilized between three and four percent[6]. In 2004, the contribution of agriculture to exports went up to twenty four percent which is the highest since nineteen ninety six. This is near the historical thirty four year average.The number of individuals employed in the agricultural sector has also declined remarkably. In 2005, only four point eight percent were employed in the agricultural sector as compared to about thirty percent in nineteen sixties.This percentage is however higher for men at 5.7 percent than women at 3.7 percent[7]. Of this population, about are holders and family members while the remaining one out of five are employees. These numbers are larger in crop than in livestock sector. Since 2001, full time working equivalent has been around seven percent.In 2003, the gross agricultural output went up and remained steady through 2004. However, with regard to quantity, the crop output has been steadily falling and is about eighty eight percent o f what it used to be in nineteen ninety five.On the other hand, livestock output has been going up and now stands at above one-hundred percent of the nineteen ninety five figures. In 2004, prices were fourteen percent higher than in 1995 with the crop prices recording higher percentage points than livestock prices. Crop prices were between five to twenty percent higher even though the gap is being closed by livestock prices.Overview of agricultural and rural sector developmentCrop area consist of thirty percent permanent crop area and seventy percent temporary crop area. About forty to forty five percent of the total area hold cereals with fifteen to twenty percent of the total holding fodder crops which shows a decrease after a steady increase until two thousand[8].Vine area has recorded a decrease from eighteen percent in nineteen ninety to eleven percent of the total in two thousand and two. This was largely due to the incentives that were paid to farmers in an attempt to avoid o verproduction of vines.A small increase was exhibited by olives on olive oil production to eight percent of the total. Citrus recorded a decrease by one percent in the year two thousand but has then been stable. Three percent of the total area is occupied by fresh fruits. Both the fresh fruits and citrus are completely irrigable. Uncultivated land remained relatively constant at between thirty five and forty percent of the total area.The most extreme fluctuation was recorded by barley with thirty seven thousand tons being produced in the year two thousand as compared with one-hundred and twenty eight thousand tons produced two years later. An average yield of two point four tons per hectare is represented by the 2002 production.The fluctuation highlight Cyprus' periodical water shortage and the annual weather changes. The falling grapes production represents the decrease in the cultivated area. After a big decrease in the year two thousand, the production of grape fruit has steadied .Generally, the production of citrus fruits has shown a gradual decrease since nineteen ninety but it has steadied to some extent during the past few years. Extreme fluctuations are not often recorded by potatoes but their massive share in agricultural output and exports implies that their fluctuation impacts greatly on agricultural economy.Olives have constantly increased to reach more than twenty seven thousand tons. This figure is twice what it was some few years ago. This can be attributed to the increase in irrigable land.

Definition and Examples of Lipograms

Definition and Examples of Lipograms A text that purposefully excludes a particular letter of the alphabet  is called a lipogram. The adjective is lipogrammatic. A contemporary example of a lipogram is Andy Wests novel Lost and Found (2002), which does not contain the letter e. Etymology From the Greek, missing letter Examples and Observations: The earliest lipograms are thought to have been composed in the sixth century BC, but none has survived; maybe they were never actually written down, only imagined, to circulate among the clerisy as instant legends of verbal skill. . . . [T]he lipogram should be a purposeless ordeal undertaken voluntarily, a gratuitous taxing of the brain, and the severer the better. It should make the business of writing not pleasanter but harder.(John Sturrock, Georges Perec. The Word From Paris: Essays on Modern French Thinkers and Writers. Verso, 1998)Gadsby: A Lipgram on EUpon this basis I am going to show you how a bunch of bright young folks did find a champion; a man with boys and girls of his own; a man of so dominating and happy individuality that Youth is drawn to him as is a fly to a sugar bowl. It is a story about a small town. It is not a gossipy yarn; nor is it a dry, monotonous account, full of such customary fill-ins as romantic moonlight casting murky shadows down a long, winding co untry road. Nor will it say anything about tinklings lulling distant folds; robins caroling at twilight, nor any warm glow of lamplight from a cabin window. No. It is an account of up-and-doing activity; a vivid portrayal of Youth as it is today; and a practical discarding of that worn-out notion that a child dont know anything.Now, any author, from historys dawn, always had that most important aid to writing: an ability to call upon any word in his dictionary in building up his story. That is, our strict laws as to word construction did not block his path. But in my story that mighty obstruction will constantly stand in my path; for many an important, common word I cannot adopt, owing to its orthography.(Ernest Vincent Wright, from Gadsby, 1939a story of more than 50,000 words that does not contain the letter e) Most common of all marks from A to Z,Its tyrant to orthography, and smugThat not a thing of worth is said withoutOur using it. . . .(Daniel J. Webster, A Lipogram: Writing Without It. Keeping Order on My Shelf: Poems and Translations. iUniverse, 2005)A Void: Another Lipogram on ENoon rings out. A wasp, making an ominous sound, a sound akin to a klaxon or a tocsin, flits about. Augustus, who has had a bad night, sits up blinking and purblind. Oh what was that word (is his thought) that ran through my brain all night, that idiotic word that, hard as Id try to put it down, was always just an inch or two out of my graspfowl or foul or Vow or Voyal?a word which, by association, brought into play an incongruous mass and magma of nouns, idioms, slogans and sayings, a confusing, amorphous outpouring which I sought in vain to control or turn off but which wound around my mind a whirlwind of a cord, a whiplash of a cord, a cord that would split again and again, would knit again and again, of w ords without communication or any possibility of combination, words without pronunciation, signification or transcription but out of which, notwithstanding, was brought forth a flux, a continuous, compact and lucid flow: an intuition, a vacillating frisson of illumination as if caught in a flash of lightning or in a mist abruptly rising to unshroud an obvious signbut a sign, alas, that would last an instant only to vanish for good.(Georges Perec, La Disparitiona 300-page novel that does not contain the letter e; translated by Gilbert Adair as A Void) 181 Missing OsN mnk t gd t rb r cg r plt.N fl s grss t blt Sctch clips ht.Frm Dnjns tps n rnc rlls.Lgwd, nt Lts, flds prts bwls.Bx tps, nt bttms, schl-bys flg fr sprt.N cl mnsns blw sft n xfrd dns,rthdx, jg-trt, bk-wrm Slmns.Bid strgths f ghsts n hrrr shw.n Lndn slp-frnts n hp-blssms grw.T crcks f gld n dd Iks fr fd.n sft cltl fstls n Id fx dth brd.Lng strm-tst slps frlrn, wrk n t prt.Rks d nt rst n spns, nr wd-ccks snrt,Nr dg n snw-drd r n cits rlls,Nr cmmn frg cncct lng prtcls.(Unknown, quoted by Willard R. Espy in The Game of Words. Grosset Dunlap, 1972)