Copyright and whether it has been infringed Free Essays

So as to have the option to settle the inquiry whether there has been copyright encroachment, the two basic standards to direct us is the pertinent law and encroachment. The entries by the two gatherings to the debate were drawn from the government laws and a reasonable ward is accommodated under the 1976 Copyright Act. Further, the entries by the gatherings were plainly on cases that are from the government courts and consequently ward is certifiably not a questionable issue. We will compose a custom article test on Copyright and whether it has been encroached? or on the other hand any comparative point just for you Request Now The other issue is on the topic of encroachment. As recently demonstrated, the encroachment emerges when the copyright enlisted is utilized by another person who implies to be the proprietor of that work. In this issue, the offended party didn't have his work enlisted, in any case, it's anything but a contested truth that the works had a place with the offended party and along these lines not an issue. The inquiry that gets the job done for this situation is the similitude of articulation. The expectation of the Copyright demonstration is to ensure the author’s articulation of thought and not simply the thought. In the current case the offended party had brought to the litigant the work which the respondent was to investigate and choose whether it was a smart thought or not, notwithstanding, the respondent proceeded to pass the attempts to another outsider who went to be his operator to affirm the work and rather took his thoughts and an archive was created with that impact. The aim of the convention is to ensure the authors’ articulation. So as to settle this inquiry the court takes a gander at the idea of articulation is it communicated in heap ways or in tight ways? In the above case, the articulation is communicated in limited structure and in this manner there is likeness of articulation from the record which was delivered by the outsider, who was working together with the litigant in this, it is thusly right to present that there was encroachment by the respondent. Regardless of whether there is a suggested agreement of actuality? The issue of whether that there existed an agreement is one which can't go overlooked. The dependable guideline is that all agreements must be recorded as a hard copy. Nonetheless, the case before us is that, there is no composed agreement between the gatherings and in this way the issue of inferred agreement of certainty emerges. Regardless of whether there is a suggested agreement of truth, the test will be applied to the aims and direct of the gatherings. An agreement inferred in truth will develop the entire understanding, further it is an agreement that is made when a gathering implicitly acknowledges advantage at a time it had the option to dismiss it. In the current case, it is the finding of the court and certainty that the offended party had given the litigant composition and that they would utilize it for the reason which was expected and should they do in any case then the offended party ought to have go thought. In showing up to this end the court takes a gander at the expectation and the lead of the two gatherings at the hour of creation of the contact. It is obvious from the direct of the respondent particularly from the second solicitation for the original copy that there was goal to make an inferred agreement of certainty. For the court to come to the end result that to be sure the litigant was in break is all together and in this manner the offended party ought to be granted the cures that take action accordingly because of the respondent penetrating the agreement. Under the California laws which the offended party had argued under, the courts can uphold for cures. Regardless of whether the influencing issues will influence the judgment of the court? There are different issues that legitimately and in a roundabout way influence the result of the case this incorporate; †¢ Exclusion of noise Evidence †¢ Denial of Motion to correct †¢ Finding of certainty †¢ Statute impediments †¢ Attorneys expenses It is trite law that the gossip proof won't be conceded on record spare that it meets the special case rule. The issue for this situation is whether in the preliminary courts’ finding the avoidance was all together. In the conditions, the avoidance was all together since the proof which the gatherings had indicated to bring under the steady gaze of the court was cited by an outsider and plainly couldn't and prattle thus didn't fall inside the special case rules. Movement to revise can be given if certain lawful standards and edge are met with the gathering looking to depend on it. The basic rule is that, the Motion to alter can be given and in the event that it doesn't look to bias the other party. In the previous condition, a movement to alter was brought 19 months from the time the issue was recorded in court and saw with doubt. The main end that was shown up by the courts is that it was carried with the point of thwarting the wheels of equity and it was appropriate for the court to deny the equivalent. The weight of verification movements to the individual who affirms, in the previous conditions if the offended party made charges and supported utilizing proof which they did, at that point it very well may be held as the substantiates reality. In introducing their proof, the offended party supported his proof and was not shaken by the guard and in this manner the court is right to discover their situation as reality. The issue of constraints goes to back when the reason for activity emerged. It is the defendants’ accommodation that it is time banished under the California laws. The courts are guided from when the activity emerged for this situation after the respondent neglected to make great the installment and which was inside time when the litigant was filling this suit which is currently a condition point of reference. The general guideline is that the losing gathering should pay the expenses. For this situation, the respondent lost the case and further, it is our accommodation that the case was brought under the government laws copyright Act of 1976 that the gathering liable should pay the backers costs. Taking everything into account, along these lines it is my unassuming accommodation that the offended party has satisfied the necessary limit on matter of parity of likelihood and consequently accomplished the opportunity of achievement. Works refered to Lessick, Susan,† Copyright ownership† UC Copyright. Feb 27, 2003 Nov 22, 2008http:://www. universityofcalifornia. edu/copyright/proprietorship. html â€Å"Implied-in-certainty Contract†, Business Dictionary, Ed 2007-2008 http://www. businessdictionary. com/definition/suggested in-truth contract. html Massey, Calvin R,† The California State Constitution A reference guide† distributed 1879 Step by step instructions to refer to Copyright and whether it has been encroached?, Papers

10 Tips to Improve Kindergarten Reading Comprehension

10 Tips to Improve Kindergarten Reading Comprehension Figuring out how to peruse is an energizing achievement for kindergarteners. Early perusing aptitudes incorporate letter acknowledgment, phonemic mindfulness, translating, mixing, and sight word acknowledgment. Go past worksheets to improve kindergarten understanding appreciation and ability through hands-on learning exercises, games, and focused on methods. Key Takeaways Manufacture an establishment for perception by giving unequivocal phonics guidance and strengthening new information through intuitive games.Select books with tedious content that attention on points your kid appreciates, and read every one on numerous occasions. Reiteration empowers comprehension.While you read, help your youngster make associations by posing inquiries about the story and urging them to envision it. Start with a Strong Foundation By and large understanding achievement, including solid appreciation abilities, starts with phonemic mindfulness. More than simply presenting the letter set, kindergartners need to gain proficiency with the sounds that eachâ letter makes. Phonemic mindfulness likewise incorporates: mixing individual soundsisolating starting and completion sounds and perceiving words that start or end with the equivalent soundssegmenting words into singular sounds Youngsters need unequivocal phonics guidance. This instructionâ builds on phonemic attention to show the connection between letters or gatherings of letters and sounds. The best phonics guidance follows a particular arrangement starting with vowel and consonant sounds and working to two and three letter mixes, twofold consonant closures, plural words, and diagraphs (letter mixes, for example, ch, sh, bl, and th). At long last, kindergarten understudies should deal with perceiving high-recurrence words ordinarily known as sight words. Fry words and Dolch sight words are two such word lists.â Play Kindergarten Reading Games Get little youngsters associated with hands-on exercises that improve their phonemic mindfulness and perusing understanding aptitudes. Move Word Families Start with two clear bones. On one, compose word-starting consonant sounds (model: b, s, t, m, p, r). On the second, compose word-finishing vowel-consonant sounds (model: at, operation, an, in, ap, et). You ought to have the option to join the start and closure sounds to make consonant-vowel-consonant (CVC) words. To play, welcome your youngster to roll the bones and read the subsequent word. A portion of the mixes will be gibberish words, however that’s OK. Rubbish words despite everything give work on mixing sounds. Whenever wanted, request that understudies recognize which words are genuine and which are drivel. I Spy Sendâ children on a CVC or sight word scrounger chase through homeroom booksâ with a basic I Spy game. Request that they search the books for CVC or sightâ words, at that point report back on the words they find. Carry on Passages Urge understudies to showcase a scene from a book they are perusing. This fun, straightforward movement includes significance to the words the page, and assists youngsters with concentrating on and imagine those implications. Bingo Utilize a preprinted sight word bingo card or fill a clear format with sight words or CVC words. Make a couple of various card alternatives and offer one to every understudy, alongside marker chips. Get out the words each in turn. As understudies find each word on their card, they will cover it with a marker until they have five out of a column. You can utilize preprinted bingo cards or attempt other printable sight word games. Perusing Recommendations for Kindergarten When searching for books that kindergarten understudies can peruse autonomously (or with a little assistance), it’s essential to remember a couple of realities. Initially, youngsters ought to perceive and have the option to peruse 90% of the words in a â€Å"just right† book. It assists with recollecting the 5-finger rule. On the off chance that an understudy makes five blunders perusing a page from a book, it’s excessively hard. One mistake is excessively simple. Four mistakes may mean the book is alright to attempt with some assistance. The sweet spot for an on the money book is just a few blunders for each page. Second, recall that it’s alright for kids to peruse a similar book on different occasions. It might appear as though this isn’t accommodating for perusing understanding since they are remembering the content. However,â becomingâ comfortableâ and acquainted with content improves understanding familiarity, jargon, and word recognition.â So also, perusing books with dull content, for example, The Foot Book or Hop on Pop by Dr. Seuss, improves understanding perception. Incorporate books with recognizable sight words, for example, Big Brown Bear or Big Pig, Little Pig, both by David McPhail. At long last, assist kids with choosing books on subjects that intrigue them. Remember that a few kids incline toward fiction books while others blossom with genuine. Attempt genuine books composed for early perusers, for example, Baby Pandas by Bethany Olson, Big Shark, Little Shark by Anna Membrino, or On a Farm by Alexa Andrews. Kindergarten Reading Comprehension Assessment Perhaps the least demanding approaches to survey perusing cognizance in kindergarten understudies is the Informal Reading Inventory (IRI), otherwise called a Qualitative Reading Inventory. The IRI allows instructors to independently survey a student’s familiarity, word recognition,â vocabulary,â comprehension, and oral understanding exactness. Kindergarten understudies ought to be evaluated in the center and toward the finish of the school year. Kids are generally approached to peruse a section aloud. Reading familiarity rate is controlled by what number of right wordsâ a understudy peruses in one moment. Oral perusing exactness can enable an educator to decide a student’s understanding level and capacity to interpret words. Understanding can be checked by posing inquiries about the entry or requesting that the understudy sum up what he read. Jargon is evaluated through open-finished inquiries concerning words in the section. Model Good Reading Habits It is significant for kids to see thatâ their guardians and teachersâ value perusing. Educators can help by saving 15 to 20 minutes for quiet perusing every day. During this time, understudies and their instructor pick books to peruse quietly. Guardians can help by ensuring that youngsters see them perusing at home. Educators and guardians should peruse so anyone might hear to understudies normally with the goal that kids can hear the job that understanding rate and voice articulation play in familiarity. Pick books that are over the level that youngsters could peruse all alone to open them to new jargon. Guardians should make sleep time stories part of their daily practice. Pose Inquiries Improve kindergarten students’ perusing cognizance by posing inquiries. Prior to perusing, take a gander at the book’s title and representations and get some information about what will occur. During the story, pose inquiries about what is happening, what understudies think will occur straightaway, or what they would do in the event that they were the principle character. After the story,â ask inquiries regarding what occurred, how the story caused the youngsters to feel, or why they think the book finished the manner in which it did. Assist Kindergartners With making Connections Helping understudies make associations is another powerful strategy for improving cognizance. Give understudies an establishment for what they’re perusing. Talk or watch a video about new encounters before finding out about them. Help childrenâ connectâ stories to their own encounters. When perusing a book about a kid getting another little dog, for instance, converse with understudies about who has a pet. Ask where they got their pet and how they picked it. Show Comprehension Strategies Show youngsters what to do when they don’t comprehend what they’re perusing. Train understudies to: Re-read the passageLook atâ the pictures for cluesThink about what occurred previously or read what occurs straightaway On the off chance that those tips don’t help, understudies might be perusing a book that is excessively troublesome. Don’t overlook the 5-finger rule! Use Anchor Charts Stay graphs are assets to assist understudies with recalling the key ideas about what they’ve realized. Stay diagrams for perusing perception may incorporate updates about translating procedures, making associations, or imagining the story. Fabricate Vocabulary Expanding a student’s jargon in a fantastic manner to improve their understanding perception. Give understudies trust in their sprouting perusing aptitudes by definingâ unfamiliar words early with the goal that they don’t lose the importance of the story. Show them toâ infer the significance of another word from the setting of the story. For instance, if an understudy peruses, â€Å"The minuscule subterranean insect goes in the little hole,† he might be new to the word small however perceive little from his sight word list. Encourage children to ask themselves inquiries, for example, â€Å"What could experience a little opening? Would it be something little or something big?† By perusing the word in setting, children can figure out how to construe that minuscule must mean little or little. Empower Visualization Instruct youngsters to make mental pictures, regularly called cerebrum films or psyche motion pictures, when they are perusing. Solicit them to draw an image from what is happening or what the character is thinking or feeling. Teach them to utilize theirâ five faculties to picture the activity of the story in their brain. Imagining the activity of a story is a great method to improve students’ understanding perception.

Blog Archive MBA Career Advice Say Thank You After an Interview!

Blog Archive MBA Career Advice Say Thank You After an Interview! In this weekly series, our friends at MBA Career Coaches will be dispensing invaluable advice to help you actively manage your career. Topics include building your network, learning from mistakes and setbacks, perfecting your written communication, and mastering even the toughest interviews. For more information or to sign up for a free career consultation, visit  www.mbacareercoaches.com. When you interview, you should always follow-up with your interviewer/s to thank them â€" and we repeat “always”! In doing so, you will have an opportunity to show that you were an active listener and internalized your interview, while also revealing some basic standards of courtesy and respect. So, when you follow-up with your note (and by “note” we mean e-mail!) it needs to contain some specific content which relates to the experience itself. Let’s consider two approaches…. Janet, Thank you so much for taking the time to meet with me earlier today. I appreciate your giving me a chance to discuss my fit with your firm and the skills that I would bring to the table. I enjoyed learning about your history with your firm and its strengths and even its challenges. I look forward to learning more and appreciate you connecting me with your colleague. Sincerely, Robert Oh, Robert! You may have actually meant what you just wrote, but it came across so completely generically that Janet could not possibly have believed that you were listening or trying to make an impression! Instead of this pitiable attempt, you might offer some details which make it clear that you were present: Janet, Thank you for taking the time to meet with me earlier today â€" I appreciated your candor in discussing the challenges facing your industry, but, it is clear from our discussion that your team is taking an aggressive stance in defending its market share. I am hopeful that I can bring my background in big data analytics to help you take customer acquisition to a deeper level. As you suggested, I have already followed up with your colleague to schedule a time to meet with his team. Sincerely, Robert In the latter example, Robert peppers his letter with specifics that reveal that he was actively listening â€" that he was and is interested. Simple phrases like, “candor in discussing challenges facing your industry” or “take customer acquisition to the next level,” prove that Robert was engaged. In a mere three sentences, with this thoughtful note, Robert has sent a clear and concise message! Interviewing for business school? The same rules apply: make specific statements about your conversation and make a much more memorable impression! For more career tips, follow @CareerCoachMBA on Twitter or sign up for your free 30-minute consultation here. Share ThisTweet MBA Career Advice

Perfect Research Essay - 876 Words

There is no hope of doing perfect research (Griffiths, 1998, p97), do you agree? Before attempting to answer this question, it is important to look at the definition and the meaning of research. According to the scholar Cresswell, â€Å"research is a process of steps used to collect and analyze information to increase our understanding of a topic or issue†(3). Cambridge online dictionary defines research is â€Å"a detailed study of a subject, especially in order to discover (new) information or reach a (new) understanding†. Based on theoretical framework, research can be either quantitative or qualitative. It is undeniably that research has become an essential for producing knowledge in numerous fields such as science, technology, design,†¦show more content†¦Interests and beliefs cause the researcher to formulate questions in a particular way. Data collection methods and data interpretation are influenced by the world view of the researcher (Mutch,14). Participants also bring issues of bias as their viewpoints (Mills,81). Hence, biases are unavoidable and are sources contribute to flaws of research. Different results or even contradictory findings are possible when research conducts in the same area with a similar topic by different people involved. Let me refer to two examples both carried out in Hong Kong in the early childhood education. It could perhaps elucidate the matter when different researchers choose different participants. A study on teaching reform reveals that the kindergarten teachers faced challenges of dealing with dilemmas of implementing western teaching approach or meeting the Chinese parents’ expectations of children’s academic learning. The teachers reported that the parents felt very anxious about children’s writing and mathematical skills if they promote children to learn through investigation and exploration (Pui-Wah,234). These results are believable since academic achievement has been a focus of Chinese education for centuries. Chinese parents have a great desiring for their children to achieve high standards of academic accomplishment and believe that sitting at desks is the most effective way to acquiring knowledge. In another study on Chinese parents’ views of qualityShow MoreRelatedThere is No Hope of Doing Perfect Research Essay802 Words   |  4 PagesTo answer the question of whether there can be such a thing as perfect research we would have to consider the research methodologies employed and how the research question is formulated and presented. The human mind is complex and in its complexity dwells room for misunderstanding and the propensity to err, so as long as the human mind is engaged in research, there can be no such thing as flawless research. To make research as near to perfection as possible it is important to look at the designRead MoreThere is No Hope of Doing Perfect Research Essay examples937 Words   |  4 Pageslooking at research and perfect research. Conceptually, these two are oxymoron. Research is done to understand the unknown or clear doubts about the known. Perfect research is possible only when you have the full knowledge of the subject of investigation so have no room for mistakes or bias in planning, formulating, and executing the research and drawing conclusions from it. If you know everything about the subject and have no doubt about it, then there is no need for perfect research. OperationallyRead MoreThere Is No Hope of Doing Perfect Research† (Griffiths, 1998, P97). Do You Agree?1053 Words   |  5 Pagesâ€Å"There is no hope of doing perfect research† (Griffiths, 1998, p97). Do you agree? The statement by Griffiths (1998) that there is no hope in doing perfect research (97) has raised a few eyebrows and has become a highly controversial issue over the past decade. Reading and Writing sources (2010) defines research as a systematic examination to obtain facts. According to this definition, research is obtaining accurate, reliable information, with the use of a method. Now, how do we define accuracyRead MoreNo Hope in Doing Perfect Research1017 Words   |  5 PagesPage 1 of 3 Get your projects done. 10/29/10 - No hope of doing perfect research www.projectguru.in Call: +919873147443 Mailto: care@projectguru.in Topic: There is no hope of doing perfect research (Griffith, 1998, p97). Do you agree?- A discussion with detailed reference to at least two examples of my research done in schools that I have been studying. Research as the name suggests, means that re- searching. It denotes the process of searching for something whose search has already beenRead MoreThere Is No Hope of Doing Perfect Research1027 Words   |  5 PagesThere is No Hope of Doing Perfect Research To agree with the statement â€Å"There is no hope of doing perfect research† (Griffith, 1998, p97) is to accept that humanity is doomed. There are two extreme phrases used in this context which are the words â€Å"perfect† and â€Å"no hope† that can incite argument among scholars, scientists, writers, academe people and even ordinary folks. Perfect is being entirely without fault or defect (Merriam-webster.com). Referring to research as perfect reflects the results ofRead MoreResearch Paper on the Effects of Mass Media on the Perfect Body Image1569 Words   |  7 PagesHow can you determine what body image should be? The desire for the perfect body has been prevalent throughout society for a vast majority of time. What makes teenage girls feel the need to strive for this â€Å"perfect body†? Some have asked, â€Å"†¦a rapidly growing body of research addresses the question of whether body perfect ideals in the mass media are a core risk factor for negative body image, particularly in women† (Dittmar, Helga) My hypothesis is â€Å"Does the media influence adolescent girl’s weightRead MoreA Monopoly is One Supplier and Numerous Buyers899 Words   |  4 Pagescompetitors with PLN. While perfect market is where there are both numerous of suppliers and buyers. Perfect competition is where there are a huge amount of competitors or there is a big competition in the market. There is no exactly a perfect competition yet, but an example of a business where almost reaches perfect competition is stock exchange. In perfect competition, all firms produce an identical or homogenous product where all of the firms are price takers. In a perfect competition, the firms haveRead MoreArgument Against Perfect Competition Theory Essay1551 Words   |  7 Pages3.0 Argument against Perfect Competition Theory Theory of perfect competition has severe shortcomings that limit its application in business. Generally, its assumptions fail to hold in the real world, which makes the theory implausible as discussed below. Firstly, it assumes that buyers and sellers are price takers in the market. As such, it presumes that there are many buyers and sellers that are insignificant and equally small for the conditions of perfect competition to exist. However, in eachRead MoreSamsung (Economics)966 Words   |  4 Pagesworldly technology needs of human kind. Samsung is a $160 billion company. Through research, reliability and a talented workforce, Samsung is able to provide technological solutions for our everyday lives. Samsung is known for its TVs however they have penetrated into the mobile phone market. They have come up with creative technology such as the Smart TV and Smart Camera. They continue to invest heavily into their research and development so that they can produce products that are efficient and effectiveRead MoreA Research Study On An Academic Research Essay1658 Words   |  7 PagesIntroduction An academic research involves a comprehensive investigation of theories, principles and decisions criteria among other study materials with an aim of identifying facts and drawing conclusions. Ultimately, there are lots of benefits associated with research in learning as well as in solving real life problems. For instance, it allows for knowledge building through evaluation of existing theories (Webb, 2007). In this case, the researcher is exposed to research work conducted earlier and

Illegal Immigrants Are Good For The Economy Of The United...

Throughout the history of independent United States, the country has attracted immigrants from different parts of the world. Illegal immigrants form the larger proportion of the immigrants into the United States. Policy analysts, government officials, as well as scholars have sought to ascertain the political, social, and economic impacts of the illegal immigrants (Hanson 11). Particularly, there has been raging debate regarding the economic impact of illegal immigration to the United States of America. It has become a matter of debate and study as it relates considerably to the nation’s politics and economy. At the centre of this debate is the question of whether illegal immigrants are good or bad to the economy of the United States (Dudley 18). Various studies have shown that majority of the United States citizens think that illegal immigrants are bad for the nation’s economy. However, there are those who believe that they are good for the economy. Several surveys show that there is consensus among many economists that both legal and illegal immigration is good for the economy as it provides cheap labor, gives net boost to the economy, reduce the cost of goods and services, and widens the market for goods and services (Kenney 23). This paper will discuss illegal immigration and its impact on the economy. In general terms, illegal immigrants are defined as all individuals who are foreign-born and are non-American citizens and who are not the legal residents of the nation.Show MoreRelatedImmigration Essay998 Words   |  4 Pages Nation of Immigrants It is often said that America is a nation of immigrants. Generations have drifted to the United States in hope for opportunity and liberty, and have also helped this country become very wealthy. Many illegal immigrants left their country in hope for a greater life in America. These immigrants have brought their culture to the U.S. They have made a new America by changing economy, work and culture for the better. Immigration to the United States is a complicated analyticalRead MoreThe United States and Illegal Immigration Essay1086 Words   |  5 PagesIllegal immigration was an issue in the past and is a pressing problem in the present. The U.S. Government has been trying to find a resolution to this issue for years. The United States approved the Immigration Reform and Control Act in 1986, which allowed the American Government to punish American companies that consciously employed illegal immigrants (Nadadur 1037-1052). The United States’ Government Immigration Reform and Control Act has been unsuccessful in controlling illegal immigrationRead MoreIllegal Immigrants1298 Words   |  6 PagesThe Benefits of Illegal Immigrants Are illegal immigrants or undocumented immigrants beneficial to America’s economy? Most illegal immigrants have a positive impact on the United States (U.S.) economy. Illegal immigrants have a positive impact on the United States economy because they increase our tax revenue, they add to our social security, and they also increase our employment rates.† In 2000, statistics revealed 8.7 million illegal immigrants resided in the United States† (KnickerbockerRead MoreAccording To An Article In Usa Today, â€Å"Illegal Immigration1258 Words   |  6 PagesAccording to an article in USA today, â€Å"Illegal Immigration population declines† Thomas Frank writes, â€Å"The number of illegal immigrants in the USA fell for the first time in at least four years, as the nations tough economy discourages people from sneaking into the USA†. Illegal immigration has been on an all time rise for the last 4 to five years, as the nations economy struggles to sta y out of a depression. I believe illegal immigration has a great effect on how the economy is doing. It cost the nation millionsRead MoreThe Rights Of Illegal Immigration1690 Words   |  7 PagesJuan Guarintino was a Spanish immigrant who moved here into the United States. Juan worked for General Faucets and Plumbing and loved every minute of his job. There was only one problem that Juan was struggling with in America. Juan Guarintino was an illegal immigrant who had paid someone to smuggle him into the United States and make him a fake visa card. Now, a few days ago, he shot a man for the twenty dollars in his pocket that way he could manage his chronic cocaine problem, but the police haveRead MoreThe Legal And Illegal Immigrants1726 Words   |  7 Pages’m an immigrant, I moved to this country three years ago, but since I was born here I’m considered a legal immigrant, as many legal and illegal immigrants I believe that we help the economy of this country. There a re many immigrants in this country, they all come from all over the world. By no means I want to assume that they have all had my experiences. In my case I’m here on the pursuit of new opportunities, in my mind, or in the way I was raised by my parents, and how am I supposed to achieveRead MoreCompare and Contrast Illegal Immigration1367 Words   |  6 Pages English 100 Illegal Immigration’s Effect towards the U.S The United States is a country affected by illegal immigration. The term illegal aliens or what is most commonly known as illegal immigrants, the word alien is simply a person who comes from a foreign country. A much more accurate expression for these groups of individuals is the term illegal alien. The term illegal alien is a much more precise term because it deals with both undocumented aliens as well as nonimmigrant visa overstayersRead MoreImmigration Is The Creation Of America938 Words   |  4 PagesAmerica Illegal immigration is one of the number one talked about topics in America, that no one does anything about. Throughout the years more than millions of immigrants have been deported from the United States to their motherland countries. What not many see is that America is made up of immigrants, immigrants help bring up the United States of America. Many Americans do not want immigrants to be in the United States mainly because they do not speak English correctly. Illegal immigrants shouldRead MoreIllegal Immigrants : A Big Problem With Illegal Immigration1150 Words   |  5 PagesIn the United States of America, there is a big problem with illegal immigration. Illegal immigration is an enormous issue that during the 2016 presidential primary debates. It was a problem when President Obama took office eight years ago, and it is an even greater problem now that he is getting ready to leave office. Most Americans want the border closed, but that will only solve half the problem. The o ther half of the problem can be solved by deporting the illegal immigrants that are alreadyRead MoreHow Immigration Helps United States1600 Words   |  7 Pages I’m an immigrant, I moved to this country three years ago, as many legal and illegal immigrants I believe that we help the economy of this country. There are many immigrants in America and they come from all over the world. By no means I want to assume that they have all had my experiences. In my case I’m here on the pursuit of new opportunities, in my mind, or in the way I was raised by my parents, and how am I supposed to achieve my goals is exactly the way they work every day to support our

The Industrial Revolution - 1090 Words

Short Term Misery†¦ Long Term Gain There are two major industrializations that have occurred through out history, both which began in England. The Industrial Revolution was from 1750 until 1800. The first and second industrialization were filled with many inventions, new societal ideas, new raw materials, new sources of power, also new ideas and societal implements were made enabling the world and society to evolve. Overall these industrialization was filled with death, neglect, and disease but ended up changing the world forever with creating a new economic life, altered social relations, and a change in power; therefore one is able to agree that â€Å"Short term misery, long term gain† would be an adequate representation to this time period. The Industrial Revolution first began with the textile industry and its continuous growth economically and socially. The industrial revolution began in England due to its harbors, mercantilism, and the smallness of the country, and the great transportation infrastructure. England also had a higher standard of living, a large population growth, and the political atmosphere was much more stable. The social atmosphere of England included the ending of feudalism, a small standing army, more established businesses, and more schools. The industrial revolution affected the different levels of society in many ways, especially depending on the amount of money one had. Also, the roles of women and children were completely changed in order for themShow MoreRelatedIndustrial Of The Industrial Revolution1666 Words   |  7 PagesMartinez English IV, 1st hour 4/29/16 The Industrial Revolution The Industrial Revolution set people away from farms and small villages and moved them to cities and towns because of the job opportunities that arose in the cities. The Industrial Revolution not only helped people move along in the late 1700s and early 1800s but also it has made the people what they are today. During the Industrial Revolution, the movement from an agrarian society to an industrial one reshaped the roles of families, widenRead MoreThe Revolution Of The Industrial Revolution917 Words   |  4 PagesWhen thinking of the industrial revolution, I usually correlate this transitional period to great advancements in machinery, and an increase in jobs. However, after looking past the surface of the industrial revolution, in regards to the promise of great wealth, this promise was not kept, along with other issues. I believe that a â€Å"better life† would mean that people would not have to go through the same struggles they once did before the revolution, struggles such as not having a job, money, homeRead MoreThe Industrial Revolution1633 Words   |  7 Pagesmeans of communication, factories to manufacture the products you need, places to work, and ways to travel and transport goods. And what made these possible? The answer is the Industrial Revolution, which started in Europe around the year 1730. A revolution is a major change or turning point in something. The Industrial Revolution was a major turning point in history and in the way people lived. Their careers, living situations, location, values, and daily routines all changed, and they needed it desperatelyRead MoreThe Industrial Revolution943 Words   |  4 PagesThe Industrial Revolution, a Revolution that began in Britain in the nineteenth century, saw people move from working in the farming industry to working in factories. This transition from an agrarian society meant that many people moved to cities in search of jobs. New methods of manufacturing allowed goods to be produced f ar more cheaply and quickly than before. However, the Revolution came with its own negative consequences. The lives of children during the Industrial Revolution were torturousRead MoreThe Industrial Revolution1097 Words   |  5 PagesBefore the advent of the Industrial Revolution, most people resided in small, rural communities where their daily existences revolved around farming. Life for the average person was difficult, as incomes were meager, and malnourishment and disease were common. People produced the bulk of their own food, clothing, furniture and tools. Most manufacturing was done in homes or small, rural shops, using hand tools or simple machines. Did You Know? The word luddite refers to a person who is opposedRead MoreThe Industrial Revolution936 Words   |  4 Pageseconomist Robert Emerson Lucas wrote in regards to the Industrial revolution: For the first time in history, the living standards of the masses of ordinary people have begun to undergo sustained growth. The novelty of the discovery that a human society has this potential for generating sustained improvement in the material aspects of the lives of all its members, not just the ruling elite, cannot be overstressed.† (Lucas 2002). The revolution itself was centred in Britain before spreading to theRead MoreThe Industrial Revolution705 Words   |  3 PagesThe Industrial Revolution was the quintessence of capitalistic ideals; it bred controversy that led to Karl Marx’s idea of communism as a massive grass roots reaction to the revolution’s social abuses. Firstly, the Industrial Revolution featured the construction of machines, systems and factories that all owed goods to be manufactured at a faster rate with a lower cost. The seed drill made it so there could be â€Å"a semi-automated, controlled distribution and plantation of wheat seed†(Jones 2013). SecondlyRead MoreIndustrial Revolution1160 Words   |  5 Pagesend of the 19th century, a significant change took place in the fundamental structure of the economy. That change was industrialization. During this time period, the United States of America changed from a large, agricultural country, to an urban industrial society. The process of industrialization began to take place in America, and eventually took over the economy during this period. Entrepreneurs and inventors put together various machines and businesses to help better the country function on aRead MoreThe Industrial Revolution Essay2099 Words   |  9 PagesThe Industrial Revolution was one of the largest social and cultural movements that changed the methods of manufacturing of metal and textiles, the transporta tion system, economic policies and social structure as well. Before the Industrial Revolution, people used to live by season due to agriculture. They thrived on whatever food was in season. Now, as a result of the Industrial Revolution, we live regimented and almost everything that is made, is mass produced. I will discuss three major topicsRead MoreThe Industrial Revolution2418 Words   |  10 PagesThe Industrial Revolution became a defining transitional period in United States history. The Industrial Revolution created opportunities for society through, employment, higher pay and allowed for the meeting of many cultures. As a result of high employment opportunities, people flocked to the North and populated areas of the nation creating urban cities. Urban cities of the nation have not changed much since the Industrial Revolution; people are still drawn to the urban culture because of the variety

Gender Gap and Taxation for Territories and States- myassignmenthelp

Question: Discuss about theGender Gap and Taxation for Territories and States. Answer: Introduction Gender equality issue is the primary principles and objectives of the nation and is the foundational issue for more reliable and sustainable policies. Dynamic policies are necessary to explore better female capabilities or talent and to strengthen the participation of females in labor market. Generalisations regarding the socioeconomic reality of males and females are difficult to formulate since the gaps in gender and sexual discrimination have a correlation with others parameters such as ethnicity, age, disabilities and any migration background (Matthias, Brys, Heady, Johansson Vartia, 2011). So, the aim is to formulate and achieve the policies of tax which would be helpful in promoting gender equality to higher organizational level.For the implementation of better tax policies, the higher level of legal framework regarding gender equality has to be explored.There is a big implementation gap between actual legal framework which is working and the framework which has to be formulat ed to ensure equality in taxable income. To fill this gap, the targets must be defined to achieve gender equality, the gender analyses implementation and compliance is necessary . The introduction part of this research proposal gives a gender gap overview in socioeconomic realities which greatly influence the allocative and distributional gender impact on tax policies. Review of Literature The policy on income and retirement savings in Australia has an old history under Income Tax Assesment Act, 1915 (Cth) (ITAA, 1915). According to the previous act i.e Old -age pension Act, 1908(Cth), had a provision of pension for Australians with age over 65 years, but later on Income Tax Assesment Act, 1915 provided tax deductibility in contributions by the employer. In Australia, the impact of gender parameters on income tax and other policies did not attribute in the conversations in the 20th century, a study was conducted in 2015 which revealed in details that the gender pension difference favoring men in EU countries and this is an indicator of a major problem (Craig, Mullan Blaxland, 2010). According to this study, it was found that average pension gap for 27 countries was 39% for the groups of 65 years of age or above. The researchers proposed that the gender issues in budgets and various policies should be transparent and visible in public debates so that the complexities could be identified and accordingly alternative options would be formulated (Austen, Costa, Sharp Elson, 2013). The gender gap in economic activities in unpaid work paid employment, wealth, and income, savings, and capabilities are the main domains which would take into consideration in order to have understood the effect of government expenditures and taxation on both genders. This is done by gender-responsive budgeting (GRB), which is designed to mainstream a gender issue in budget and policies. It was also found that policies and programs which improve women employment outcomes have great contribution in economic growth (Elson Sharp, 2010). In 1980, the scrutinizing of annual budgets for the impact on girls and women and gender equality was done by the Australian federal state governments and published a Women Budget Statement(WBS). In 2014-15, after the abolishment of WBS, no alternative option has emerged to describe gender impact analyses (GIA) of tax policies and their revenues. Gender impact analyses (GIA), is very helpful for gender equity by contributing an understanding of the effects of different policies on men and women (Sharp Brromhill, 2002). According to Himmelwiet the key principles of Gender impact analyses (GIA) are: To assess and analyze the effects of policies on the paid as well as unpaid economies and the incentive cost provided to either category should be properly justified. To assess whether the policies enhance or decrease the gender inequality. To assess the influence of policies on equality of gender between households and within them. (Himmelwiet, 2002). In Australia, considerable tax concessions are given to superannuation expenditures that encourage and increases private savings. Studies revealed that tax expenditures on superannuation disbursements have also bears negative impact on gender equality issues. However, Australian female bears less than half superannuation balance as compared to male and a high percentage of females (32.6%) have no superannuation while males have a low percentage (26.1%) (Austen, Jefferson Ong, 2014). So, from the above literature survey and discussions about the gender inequality issues regarding earning income and taxation the research proposal is formulated which would focus on the gender gap in taxable income. Aim and Objective The aim of the research proposal is to find out the relationship between gender inequality and taxable income in Australia and also to compare gender gap in different states and territories by choosing different fields of employment like accounting, finance, media etc. The main objectives of the present study are: To study the gender gap in the earnings and income of both men and women. To study the employment opportunities for both genders. To study the gender inequality in the ability to work. To study taxation income for both the genders in different industries. To study the gender gap in taxable income in the various States of Australia. Research Questions/Problem Whether there is gender inequality? What is the broad industries/field of employment to be studied for gender gap? Which states/territories should be included in the studies? What are the parameters to be compared in gender inequality in different states/territories? Therefore, the present research proposal Gender gap in earnings and taxable income in Australia: A comparison in different Territories and States is taken to investigate the above-said problems. Methodology To perform the present research work, the quantitative methodology with survey methods would be adopted as survey method is a method of finding the facts. The following methodology would be adopted for the present work: Area and time period for the study would be chosen. The states/territories which would be identified in Australia for the studies are Victoria, New South Wales, Queensland, South Australia, Tasmania and Western Australia. The type of sample chosen would be chosen in terms of different industries in various states/territories of Australia such as Information media and telecommunications, financial and insurance services, education and training, retail trade The sample size will be calculated statistically by using confidence level, the margin of error, population size by using probability calculations. The sample size will also be calculated from the spreadsheets for sample size calculations. For the collection of data, the primary and secondary data collection method would be used. The secondary data would be obtained from the various reports of on taxation, journal articles regarding gender gap income and taxation, publications of government, and from public records and statistics. The primary data would be generated by using questionnaire method. An appropriate questionnaire would be designed to collect information on gender inequality in taxation, employment, and income etc. The questions would be focused on their current economic conditions, their taxable income, amount of tax payable and their employment status . Despite from the data collection by means of a questionnaire, the researcher would personally visit the various multi-national companies, colleges to interact with accountancy students, C.As of different firms to collect the feedback from respondents. The data would include some key parameters such as taxable income number, taxable income amount, gross taxable income number, gross taxable income amount, medicare levy, net tax, salary or wages, allowances, Australian government allowances, Australian annuities and superannuation, gross interest etc. The tabular form in which the data would be incorporated is given below: Comparison of genders in various Industries in different states of Australia S.No Broad Industry Chosen State Gender No of Individuals 1 Information Media and Telecommunications Victoria Males Females New South Wales Males Females Queensland Males Females South Australia Males Females Tasmania Males Females Western Australia Males Females 2 Financial and Insurance Services Victoria Males Females New South Wales Males Females Queensland Males Females South Australia Males Females Tasmania Males Females Western Australia Males Females 3 Education and Training Victoria Males Female New South Wales Males Females Queensland Males Females South Australia Males Females Tasmania Males Females Western Australia Males Females 4 Retail Trade Victoria Males Females New South Wales Males Females Queensland Males Females South Australia Males Females Tasmania Males Females Western Australia Males Females From the above tabular data, it would be analyzed the number of males and females taken as a sample in various territories. Conclusion The outcome of the present research work would provide an overview of the gender gap and taxation and the clear scenario of the magnitude of gender gap would be provided. The research proposal would highlight the correlation among gender gap and taxation policies and would summarize the current research aspects regarding gender gap. On the basis of data, a hypothesis would be designed that gender equality may be in progress in terms of income and taxation or may need more dynamic policies to completely eradicate the gender inequality in economics. The report would provide a message for the policy-makers to make gender issues in taxation a critical segment of their developmental policies. We hope that the information obtained from above methodology and analysis in research proposal would serve as the basis for the development towards gender equality in taxation. References A, C. (2015). Uncovering Women in Taxation: The Gender Impact of Detaxation, Tax Expenditures, and Joint Tax/Benefit Units.Osgoode Hall Law Journal,52(2), 427-459. Austen, S., Costa, M., Sharp, R., Elson, D. (2013). Expenditure incidence analysis: a gender-responsive budgeting tool for educational expenditure in Timor-Leste?.Feminist Economics,19(4), 1-24. Austen, S., Jefferson, T., Ong, R. (2014). The gender gap in financial security: what we know and dont know about Australian households.Feminist Economics,20(3), 25-52. Craig, L., Mullan, K., Blaxland, M. (2010). Parenthood, policy and work-family time in Australia 19922006.Work, Employment And Society,24(1), 27-45. Elson, D., Sharp, R. (2010). Gender-responsive budgeting and womens poverty.S Chant (Ed), Handbook On Gender And Poverty, Edward Elgar, 522. Himmelwiet, S. (2002). Making visible the hidden economy: the case for gender-impact analysis of economic policy.Feminist Economics,8(1), 50-52. Matthias, J., Brys, B., Heady, C., Johansson, A., Vartia, L. (2011). Tax Policy for Economic Recovery and Growth.The Economic Journal,121(550), 59-80. Sharp, R., Brromhill, R. (2002). Budgeting for equality: the Australian experience.Feminist Economics,,8(1), 25-47.

International Trade and Globalization Essay Example

International Trade and Globalization Essay PART 1 GLOBAL BUSINESS ENVIRONMENT CHAPTER ONE Globalization Learning Objectives After studying this chapter, you should be able to 1. Describe the process of globalization and how it affects markets and production. 2. Identify the two forces causing globalization to increase. 3. Summarize the evidence for each main argument in the globalization debate. 4. Identify the types of companies that participate in international business. 5. Describe the global business environment and identify its four main elements. A LOOK AT THIS CHAPTER This chapter de? es the scope of international business and introduces us to some of its most important topics. We begin by presenting globalization—describing its in? uence on markets and production and the forces behind its growth. Each main argument in the debate over globalization is also analyzed in detail. We then identify the key players in international business today. This chapter closes with a model that depicts international business as occurring within an integrated global business environment. A LOOK AHEAD Part 2, encompassing Chapters 2, 3, and 4, introduces us to different national business environments. Chapter 2 describes important cultural differences among nations. Chapter 3 examines different political and legal systems. And Chapter 4 presents the world’s various economic systems and issues surrounding economic development. 24 Emirates’ Global Impact DUBAI, United Arab Emirates—The Emirates Group, founded in 1985 and headquartered in Dubai, is one of the world’s leading commercial air transportation service providers. Emirates has built up a strong brand name as a leader in the aviation industry, particularly in terms of its excellent customer service and its very rapid growth. It provides passenger, cargo, and postal carriage services to approximately 100 destinations worldwide. The company is also involved in the wholesale and retail of consumer goods, in-? ight and institutional catering, holiday services, and hotel operations in Europe, the Middle East, the Far East, Africa, Asia, Australasia, and North America. The Group’s operations are global in many ways. Emirates is renowned for its excellent customer service, but how does it attract new customers and keep current customers happy when it operates worldwide in many different countries and cultures? We will write a custom essay sample on International Trade and Globalization specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on International Trade and Globalization specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on International Trade and Globalization specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The answer is that global customers need global services too. If you visit Emirates’ Web site (see www. emirates. com) you will see it has multi-language booking services, customized in-? ight entertainment and provides international food and drink during the ? ight. Furthermore, Emirates Group employs about 50,000 people, and it’s interesting to note that its cabin crew is highly diverse in terms of nationality, religion, and languages. In fact, the group operates a global recruitment process, and its staff, from cabin crew to engineers, comes from all over the world. As you read this chapter, consider how globalization is reshaping our personal lives and altering the activities of international companies. 1 Source:  © Mccarthystudio/ Dreamstime. 25 26 PART 1 †¢ GLOBAL BUSINESS ENVIRONMENT G lobalization is reshaping our lives and leading us into uncharted territory. As new technologies drive down the cost of global communication and travel, we are increasingly exposed to the traits and practices of other cultures. As countries reduce barriers to trade and investment, globalization forces their industries to grow more competitive if they are to survive. And as ultinationals from advanced countries and emerging markets seek out customers, competition intensifies on a global scale. These new realities of international business are altering our cultures and transforming the way companies do business. International Business Involves Us All The dynamic nature of international business affects each of us personally. In our daily communications, w e encounter terms such as outsourcing, emerging markets, competitive advantage, sustainability, and social responsibility. And each of us experiences the result of dozens of international transactions every day. The General Electric alarm clock/radio (www. ge. com) that woke you was likely made in China. The breaking news buzzing in your ears was produced by Britain’s BBC radio (www. bbc. co. uk). You slip on your Adidas sandals (www. adidas. com) made in Indonesia, Abercrombie Fitch T-shirt (www. abercrombie. com) made in the Northern Mariana Islands, and American Eagle jeans (www. ae. com) made in Mexico. You pull the charger off your Nokia phone (www. nokia. com), which was designed in Finland and manufactured in the United States with parts from Taiwan, and head out the door. You hop into your Korean Hyundai (www. hmmausa. com) that was made in Alabama, and pop in a CD performed by the English band Coldplay (www. coldplay. com). You swing by the local Starbucks (www. starbucks. com) to charge your own batteries with coffee brewed from a blend of beans harvested in Colombia and Ethiopia. Your day is just one hour old, but in a way you’ve already taken a virtual trip around the world. A quick glance at the â€Å"Made in† tags on your jacket, backpack, watch, wallet, or other items with you right now will demonstrate the pervasiveness of international business transactions. International business is any commercial transaction that crosses the borders of two or more nations. You don’t have to set foot outside a small town to ? nd evidence of international business. No matter where you live, you’ll be surrounded by imports—goods and services purchased abroad and brought into a country. Your counterparts around the world will undoubtedly spend some part of their day using your nation’s exports—goods and services sold abroad and sent out of a country. Every year, all the nations of the world export goods and services worth nearly $15 trillion. That ? ure is around 40 times the annual global revenue of Wal-Mart Stores (www. walmart. com). international business Commercial transaction that crosses the borders of two or more nations. imports Goods and services purchased abroad and brought into a country. exports Goods and services sold abroad and sent out of a country. Technology Makes It Possible Technology is perhaps the mo st remarkable facilitator of societal and commercial changes today. Consumers use technology to reach out to the world on the Internet—gathering and sending information and purchasing all kinds of goods and services. Companies use technology to acquire materials and products from distant lands and to sell goods and services abroad. When businesses or consumers use technology to conduct transactions, they engage in e-business (e-commerce)—the use of computer networks to purchase, sell, or exchange products; service customers; and collaborate with partners. E-business is making it easier for companies to make their products abroad, not simply import and export ? nished goods. Consider how Hewlett-Packard (HP) (www. hp. com) designed and built a computer server for small businesses. Once HP identi? d the need for a new low-cost computer server, it seized the rewards of globalization. HP dispersed its design and production activities throughout a specialized manufacturing system across ? ve Paci? c Rim nations and India. This helped the company minimize labor costs, taxes, and shipping delays yet maximize productivity when designing, building, and distributing its new product. Companies use su ch innovative production and distribution techniques to squeeze inef? ciencies out of their international operations and boost their competitiveness. e-business (e-commerce) Use of computer networks to purchase, sell, or exchange products; service customers; and collaborate with partners. CHAPTER 1 †¢ GLOBALIZATION 27 Workers at a factory in Indonesia inspect electronic parts bound for global markets. Today, companies can go almost anywhere in the world to tap into local expertise and favorable business climates. For example, U. S. businesses exploit technology by subcontracting work to Chinese companies that write computer software code and then e-mail their end-product to the U. S. clients. In this way, companies can lower costs, increase ef? ciency, and grow more competitive. In what other ways might technology and global talent facilitate international business activity? Source: AFP Photo/Bob Low/Newscom. Global Talent Makes It Happen Media companies today commonly engage in a practice best described as a global relay race. Fox and NBC Universal created Hulu (www. hulu. com), one competitor of YouTube, as a cool venue for fans to watch TV shows online. Hulu employs two technical teams—one in the United States and one in China—to manage its Web site. Members of the team in Santa Monica, California, work late into the night detailing code speci? cations that it sends to the team in Beijing, China. The Chinese team then writes the code and sends it back to Santa Monica before the U. S. team gets to work in the morning. 2 Some innovative companies use online competitions to tap global talent. InnoCentive (www. innocentive. com) connects companies and institutions seeking solutions to difficult problems using a global network of more than 145,000 creative thinkers. These engineers, scientists, inventors, and businesspeople with expertise in life sciences, engineering, chemistry, math, computer science, and entrepreneurship compete to solve some of the world’s toughest problems in return for significant financial awards. InnoCentive is open to anyone, is available in seven languages, and pays cash awards that range from as little as $2,000 to as much as $1 million. 3 This chapter begins by presenting globalization—we describe its powerful in? uence on markets and production and explain the forces behind its expansion. Following coverage of each main point in the debate over globalization, we examine the key players in international business. We then explain why international business is special by presenting the dynamic, integrated global business environment. Finally, the appendix at the end of this chapter contains a world atlas to be used as a primer for this chapter’s discussion and as a reference throughout the remainder of the book. Quick Study 1. De? ne the term international business, and explain how it affects each of us. 2. What do we mean by the terms imports and exports? 3. Explain how e-business (e-commerce) is affecting international business. 28 PART 1 †¢ GLOBAL BUSINESS ENVIRONMENT Globalization globalization Trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies. Although nations historically retained absolute control over the products, people, and capital crossing their borders, economies are becoming increasingly intertwined. Globalization is the trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies. Globalization is a trend characterized by denationalization (national boundaries becoming less relevant) and is different from internationalization (entities cooperating across national boundaries). The greater interdependence that globalization is causing means an increasingly freer ? w of goods, services, money, people, and ideas across national borders. As its de? nition implies, globalization involves much more than the expansion of trade and investment among nations. Globalization embraces concepts and theories from political science, sociology, anthropology, and philosophy as well as economics. As such, it is not a term exclusively reserved for multinational corpora tions and international ? nancial institutions. Nor is globalization the exclusive domain of those with only altruistic or moral intentions. In fact, globalization has been described as going â€Å"well beyond the links that bind corporations, traders, ? nanciers, and central bankers. It provides a conduit not only for ideas but also for processes of coordination and cooperation used by terrorists, politicians, religious leaders, anti-globalization activists, and bureaucrats alike. †4 For our purposes, this discussion focuses on the business implications of globalization. Two areas of business in which globalization is having profound effects are the globalization of markets and production. Globalization of Markets Globalization of markets refers to convergence in buyer preferences in markets around the world. This trend is occurring in many product categories, including consumer goods, industrial products, and business services. Clothing retailer L. L. Bean (www. llbean. com), shoe producer Nike (www. nike. com), and electronics maker Sony (www. sony. com) are just a few companies that sell global products—products marketed in all countries essentially without any changes. For example, Apple’s iPad qualifies as a global product because of its highly standardized features and the company’s global marketing strategy and global brand. Global products and global competition characterize many industries and markets, including semiconductors (Intel, Philips), aircraft (Airbus, Boeing), construction equipment (Caterpillar, Mitsubishi), autos (Honda, Volkswagen), ? nancial services (Citicorp, HSBC), air travel (Lufthansa, Singapore Airlines), accounting services (Ernst Young, KPM G), consumer goods (Procter Gamble, Unilever), and fast food (KFC, McDonald’s). The globalization of markets is important to international business because of the bene? ts it offers companies. Let’s now look brie? y at each of these bene? s. REDUCES MARKETING COSTS Companies that sell global products can reduce costs by standardizing certain marketing activities. A company selling a global consumer good, such as shampoo, can make an identical product for the global market and then simply design different packaging to account for the language spoken in each market. Companies can achieve further cost savings by keeping an ad’s visual component the same for all markets but dubbing TV ads and translating print ads into local languages. CREATES NEW MARKET OPPORTUNITIES A company that sells a global product can explore pportunities abroad if the home market is small or becomes saturated. For example, China holds enormous potential for e-business with more than 400 mi llion Internet users, which is greater than the population of the entire United States. But while more than 70 percent of people in the United States actively surf the Web, just 30 percent of people in China do. So, the battle for market share in the Middle Kingdom is raging between the top two online search engines— Google (www. google. cn) and Yahoo! (www. cn. yahoo. com). Seeking sales growth abroad can be absolutely essential for an entrepreneur or small company that sells a global product but has a limited home market. CHAPTER 1 †¢ GLOBALIZATION 29 Ecstatic customers display their new iPads in Mexico City. The iPad is Apple’s (www. apple. com) ? rst tablet computer and a global success that excites style-lovers the world over. The iPad lets users surf the Web, write e-mail, ? ip through photos, and watch movies—all on a device that is only 0. 5 inches thick. Thousands of applications expand the iPad’s capabilities even further and more are creat ed daily. Apple standardized the iPad to reduce production and marketing costs and to support its powerful global brand. Source: STR/Newscom. LEVELS UNEVEN INCOME STREAMS A company that sells a product with universal, but sea- sonal, appeal can use international sales to level its income stream. By supplementing domestic sales with international sales, the company can reduce or eliminate wide variations in sales between seasons and steady its cash ? ow. For example, a ? rm that produces suntan and sunblock lotions can match product distribution with the summer seasons in the northern and outhern hemispheres in alternating fashion—thereby steadying its income from these global, yet highly seasonal, products. YET LOCAL NEEDS ARE IMPORTANT Despite the potential bene? ts of global markets, managers must constantly monitor the match between the ? rm’s products and markets to not overlook the needs of buyers. The bene? t of serving customers with an adapted product may outweigh the ben e? t of a standardized one. For instance, soft drinks, fast food, and other consumer goods are global products that continue to penetrate markets around the world. But sometimes these products require small modi? cations to better suit local tastes. In southern Japan, Coca-Cola (www. cocacola. com) sweetens its traditional formula to compete with sweeter-tasting Pepsi (www. pepsi. com). In India, where cows are sacred and the consumption of beef is taboo, McDonald’s (www. mcdonalds. com) markets the â€Å"Maharaja Mac†Ã¢â‚¬â€two all-mutton patties on a sesame-seed bun with all the usual toppings. Globalization of Production Many production activities are also becoming global. Globalization of production refers to the dispersal of production activities to locations that help a company achieve its cost-minimization or quality-maximization objectives for a good or service. This includes the sourcing of key production inputs (such as raw materials or products for assembly) as well as the international outsourcing of services. Let’s now explore the bene? ts that companies obtain from the globalization of production. ACCESS LOWER-COST WORKERS Global production activities allow companies to reduce overall production costs through access to low-cost labor. For decades, companies located their factories in low-wage nations to churn out all kinds of goods, including toys, small appliances, inexpensive electronics, and textiles. Yet whereas moving production to low-cost 30 PART 1 †¢ GLOBAL BUSINESS ENVIRONMENT locales traditionally meant production of goods almost exclusively, it increasingly applies to the production of services such as accounting and research. Although most services must be produced where they are consumed, some services can be performed at remote locations where labor costs are lower. Many European and U. S. businesses have moved their customer service and other nonessential operations to places as far away as India to slash costs by as much as 60 percent. ACCESS TECHNICAL EXPERTISE Companies also produce goods and services abroad to bene? t from technical know-how. Film Roman (www.? lmroman. com) produces the TV series The Simpsons, but it provides key poses and step-by-step frame directions to AKOM Production Company (www. akomkorea. com) in Seoul, South Korea. AKOM then ? lls in the remaining poses and links them into an animated whole. But there are bumps along the way, says animation director Mark Kirkland. In one middle-of-the-night phone call, Kirkland was explaining to the Koreans how to draw a shooting gun. They don’t allow guns in Korea; it’s against the law,† says Kirkland. â€Å"So they were calling me [asking]: ‘How does a gun work? ’† Kirkland and others put up with such cultural differences and phone calls at odd hours to tap a highly quali? ed pool of South Korean animators. 7 ACCESS PRODUCTION INPUTS Globalization of production allows companies to access re- sources that are unav ailable or more costly at home. The quest for natural resources draws many companies into international markets. Japan, for example, is a small, densely populated GLOBAL CHALLENGES Managing Security in the Age of Globalization n a lawsuit. The damaged reputation of Goldman Sachs following its $550 million settlement with the Securities and Exchange Commission (for its actions before and during the ? nancial meltdown on Wall Street) is estimated to have cost the ? rm nearly 40 percent ($6 billion) of its brand value in one year. †¢ The Challenge. Like the risks themselves, the challenges are also varied. First, companies should identify all potential risks to their facilities and develop a bestpractice property risk program. Second, employees should change passwords often, guard computers and mobile devices ith software patches, and return company-owned digital devices when leaving the ? rm. Third, as they come under ever-increasing scrutiny, companies should act ethically and w ithin the law to protect their reputations. †¢ Want to Know More? Visit leading risk consultancy Kroll (www. krollworldwide. com), leading Internet security ? rm Check Point Software Technologies (www. checkpoint. com), and Internet security agency CERT Coordination Center (www. cert. org). Sources: Douglas McIntyre, â€Å"The 10 Biggest Brand Disasters of 2010,† Daily Finance Web site (www. daily? nance. om), July 21, 2010; Erik Schatzker and Christine Harper, â€Å"Goldman Could Have Managed Reputational Risks Better, Cohn Says,† Bloomberg Businessweek (www. businessweek. com), July 1, 2010; The Risk/Earnings Ratio: New Perspectives for Achieving Bottom-Line Stabililty (Johnston, RI; FM Global, June 2010); An Introduction to the Business Model for Information Security (Rolling Meadows, IL: ISACA, 2009). The globalization of markets and production creates new challenges for companies. As well as the need to secure lengthy supply chains and distribution channels, companies must secure their facilities, information systems, and reputations. Facilities Risk. Careful planning and facilities assessment (around $12,000 for a midsized company; $1 million for a large ? rm) can be well worth the cost. Large companies with top-notch property risk management programs are said to produce more stable earnings. And companies practicing weak risk management experience 55 times greater risk of property loss due to ? re and 29 times greater risk of property loss caused by natural hazards. †¢ Information Risk. Computer viruses, software worms, malicious code, and cyber criminals cost companies around the world many billions of dollars each year. The usual suspects include disgruntled employees and dishonest competitors, but often are hackers who steal customers’ personal and ? nancial data that is then sold worldwide to the highest bidder. Upon quitting their jobs, some employees simply walk away with digital devices containing con? dential memos, competitive data, and private e-mails. †¢ Reputational Risk. News regarding the actions of today’s largest corporations spreads worldwide quickly. Reputational risk is anything that can harm a ? rm’s image, including accounting irregularities, product recalls, workers’ rights violations, and involvement CHAPTER 1 †¢ GLOBALIZATION 31 island nation with very few natural resources of its own—especially forests. But Japan’s largest paper company, Nippon Seishi, does more than simply import wood pulp. The company owns huge forests and corresponding processing facilities in Australia, Canada, and the United States. This gives the ? rm not only access to an essential resource but also control over earlier stages in the papermaking process. As a result, the company is guaranteed a steady ? ow of its key ingredient (wood pulp) that is less subject to swings in prices and supply associated with buying pulp on the open market. Likewise, to access cheaper energy resources used in manufacturing, a variety of Japanese ? rms are relocating production to China and Vietnam, where energy costs are lower. Despite its bene? ts, globalization also creates new risks and accentuates old ones for companies. To read about several key risks that globalization heightens and how companies can better manage them, see this chapter’s Global Challenges feature, titled â€Å"Managing Security in the Age of Globalization. † Quick Study 1. De? ne globalization. How does denationalization differ from internationalization? . List each bene? t a company might obtain from the globalization of markets. 3. How might a company bene? t from the globalization of production? Forces Driving Globalization Two main forces underlie the globalization of markets and production: falling barriers to trade and investment and technological innovation. These two features, more than anything else, are increasing competition among nations by leveling the global business playing field. Greater competition is simultaneously driving companies worldwide into more direct confrontation and cooperation. Local industries once isolated by time and distance are increasingly accessible to large international companies based many thousands of miles away. Some small and medium-sized local firms are compelled to cooperate with one another or with larger international firms to remain competitive. Other local businesses revitalize themselves in a bold attempt to survive the competitive onslaught. And on a global scale, consolidation is occurring in many industries as former competitors link up to challenge others on a worldwide basis. Let’s now explore in greater detail the pivotal roles of the two forces driving globalization. Falling Barriers to Trade and Investment In 1947, political leaders of 23 nations (12 developed and 11 developing economies) made history when they created the General Agreement on Tariffs and Trade (GATT)—a treaty designed to promote free trade by reducing both tariffs and nontariff barriers to international trade. Tariffs are essentially taxes levied on traded goods, and nontariff barriers are limits on the quantity of an imported product. The treaty was successful in its early years. After four decades, world merchandise trade had grown 20 times larger, and average tariffs had fallen from 40 percent to 5 percent. Signi? cant progress occurred again with a 1994 revision of the GATT treaty. Nations that had signed on to the treaty further reduced average tariffs on merchandise trade and lowered subsidies (government ? nancial support) for agricultural products. The treaty’s revision also clearly de? ned intellectual property rights—giving protection to copyrights (including computer programs, databases, sound recordings, and ? ms), trademarks and service marks, and patents (including trade secrets and know-how). A major ? aw of the original GATT was that it lacked the power to enforce world trade rules. Likely the greatest accomplishment of the 1994 revision was the creation of the World Trade Organization. WORLD TRADE ORGANIZATION The World Trade Organization (WTO) is the international organization that enforces the rules of international trade. The three main goals of the WTO (www. wto. org) are to help the free ? ow of trade, help negotiate the further opening of markets, General Agreement on Tariffs and Trade (GATT) Treaty designed to promote free trade by reducing both tariffs and nontariff barriers to international trade. World Trade Organization (WTO) International organization that enforces the rules of international trade. 32 PART 1 †¢ GLOBAL BUSINESS ENVIRONMENT and settle trade disputes among its members. It is the power of the WTO to settle trade disputes that really sets it apart from its predecessor, the GATT. The various WTO agreements are essentially contracts between member nations that commit them to maintaining fair and open trade policies. Offenders must realign their trade policies according to WTO guidelines or face ? es and, perhaps, trade sanctions (penalties). Because of its ability to penalize offending nations, the WTO’s dispute settlement system truly is the spine of the global trading system. The WTO replaced the institution of GATT but absorbed all of the former GATT agreements. Thus, the GATT institution no longer of? cially exists. Today, the WTO recognize s 153 members and 30 â€Å"observer† members. The WTO launched a new round of negotiations in Doha, Qatar, in late 2001. The renewed negotiations were designed to lower trade barriers further and to help poor nations in particular. Agricultural subsidies that rich countries pay to their own farmers are worth $1 billion per day— more than six times the value of their combined aid budgets to poor nations. Because 70 percent of poor nations’ exports are agricultural products and textiles, wealthy nations had intended to further open these and other labor-intensive industries. Poor nations were encouraged to reduce tariffs among themselves and were to receive help in integrating themselves into the global trading system. Although the Doha round was to conclude by the end of 2004, negotiations are proceeding more slowly than was anticipated. REGIONAL TRADE AGREEMENTS In addition to the WTO, smaller groups of nations are integrat- ing their economies as never before by fostering trade and boosting cross-border investment. For example, the North American Free Trade Agreement (NAFTA) gathers three nations (Canada, Mexico, and the United States) into a free-trade bloc. The more ambitious European Union (EU ) combines 27 countries. The Asia Paci? c Economic Cooperation (APEC) consists of 21 member economies committed to creating a free-trade zone around the Paci? c. The aims of each of these smaller trade pacts are similar to those of the WTO but are regional in nature. Moreover, some nations are placing greater emphasis on regional pacts because of resistance to worldwide trade agreements. TRADE AND NATIONAL OUTPUT Together, the WTO agreements and regional pacts have gross domestic product (GDP) Value of all goods and services produced by a domestic economy over a one-year period. gross national product (GNP) Value of all goods and services produced by a country’s domestic and international activities over a one-year period. boosted world trade and cross-border investment signi? cantly. Trade theory tells us that openness to trade helps a nation to produce a greater amount of output. Map 1. 1 illustrates that growth in national output over a recent 10-year period is signi? cantly positive. Economic growth is greater in nations that have recently become more open to trade, such as China, India, and Russia, than it is in many other countries. Much of South America is also growing rapidly, while Africa’s experience is mixed. Let’s take a moment in our discussion to define a few terms that we will encounter time and again throughout this book. Gross domestic product (GDP) is the value of all goods and services produced by a domestic economy over a one-year period. GDP excludes a nation’s income generated from exports, imports, and the international operations of its companies. We can speak in terms of world GDP when we sum all individual nations’ GDP figures. GDP is a somewhat narrower figure than gross national product (GNP)—the value of all goods and services produced by a country’s domestic and international activities over a one-year period. A country’s GDP or GNP per capita is simply its GDP or GNP divided by its population. GDP or GNP per capita Nation’s GDP or GNP divided by its population. Technological Innovation Although falling barriers to trade and investment encourage globalization, technological innovation is accelerating its pace. Signi? cant advancements in information technology and transportation methods are making it easier, faster, and less costly to move data, goods, and equipment around the world. Let’s examine several innovations that have had a considerable impact on globalization. E-MAIL AND VIDEOCONFERENCING Operating across borders and time zones complicates the job of coordinating and controlling business activities. But technology can speed the ? w of information and ease the tasks of coordination and control. Electronic mail (e-mail) is an CHAPTER 1 †¢ GLOBALIZATION 33 indispensable tool that managers use to stay in contact with international operations an

NUCORs History and Development

NUCORs History and Development Introduction NUCOR is one of the largest steel companies in America. It has been in existence since 1955 when after a merger, the REO Motor Company changed to Nuclear Corporation of America. NUCOR’s founding father is Ransom Olds. The company has evolved a lot over its existence. It has been through tough times and survived. This case study looks into NUCOR’s history and development, then analyzes its internal and external environment and finally ends with recommendations.Advertising We will write a custom case study sample on NUCOR’s History and Development specifically for you for only $16.05 $11/page Learn More Nuclear Corporation of America practised growth by acquisition of strategic businesses. However, in the beginning, this strategy failed miserably and the company made huge losses. The turnaround came in 1966 when NUCOR hired a new CEO, Ken Iverson. This visionary leader would transform the company’s fortunes thus leading it to success. Ken Iverson studied Aeronautical Engineering. He then worked for different metal companies. This gave him a lot of knowledge and skills that would come in handy in his job as NUCOR’s CEO. Iverson first encountered NUCOR when the company tried to buy a metal company where he worked. This bid failed. NUCOR hired Iverson to find them suitable metal companies to purchase. When he found Vulcraft, NUCOR bought it on condition that Iverson would run it. He agreed. By the time he was appointed CEO, Vulcraft was the only profitable division of the almost bankrupt conglomerate. Iverson had a great task ahead. Iverson loved technological leadership. He led the company to open its first mini-mill in South Carolina. This was the beginning of the company’s success. The mini-mills were created to serve NUCOR’s other divisions. However, on realizing that other companies needed their services, NUCOR expanded to provide services to them too. Iverson continued to g row NUCOR by strategic acquisition and technological leadership too. Nucor’s Strengths This company has several great internal traits that enabled it to survive its 54 years in operation. The first major strength is its leadership. Ken Iverson led the company for 30 years. Iverson had the necessary technical competence and vast experience to lead a great steel company. He also believed greatly in decentralization, which gave divisional managers enough autonomy to run their divisions successfully. The organizational structure with few layers of management and less bureaucracy was motivating to NUCOR’s people. The second strength was NUCOR’s highly productive workforce. The company motivated its workers by implementing bonus pay schemes that saw them earn much more than their counterparts in similar jobs. NUCOR also avoided laying off its workers even during difficult times. Instead, it froze their wages and reduced the Executive’s wage. Iverson and his tea m also engaged the workers in conversation and kept them well informed about the company’s performance. WAdvertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More hen the company made profits, everyone benefitted from the profit sharing scheme. In return, NUCOR’s employees remained loyal and produced more than average. All workers’ children were also included in the education scheme. They also remained non- union for a very long time. After all, there were rarely industrial disputes between employer and employee. The third strength is technology. Iverson made a deliberate effort to keep NUCOR at the frontline of new steel technology. He sought and acquired rights to innovative ways of manufacturing. These methods went a long way in reducing cost. NUCOR also had the best inventory management system in its time. The cost savings the company created were passed on to its consumers in form of reduced price. This helped NUCOR to beat its competitors in a market with a homogenous product with no aesthetic value. The company’s factories are also located close to their major customers. This makes it easy to form strategic partnerships. NUCOR had several offshore joint ventures that enhanced its performance. The most significant of these is Yamato Kogyo, a Japanese firm. This venture increased NUCOR’s technological leadership as it entered the Beaming business. NUCOR started to manufacture wide flange beams. The company also practised backward integration of its supply chain; ensuring raw materials were available when needed. When building its plants, NUCOR considered its major customers. It left enough space for such customers to locate near it. This also reduced transport costs. Nucor’s Weaknesses Weaknesses are internal problems that can result in a company’s failure. Though successful, NUCOR has several identifiable we aknesses. First, most of the company’s plants are located in America. This is a weakness because America is a high-wage country. This means that NUCOR absorbs the cost of this expensive labour into its selling price. Having a high selling price reduces its competitiveness against cheaper offshore imports from countries such as China. NUCOR’s second weakness is the failure to research internally. This means that in order for the company to develop, it must depend on strategic acquisitions and external partners. This is quite risky. Supposing these partners fail to innovate, NUCOR will be stuck in a rut. External cost of Research and Development is also likely to be much higher than if the company carried out its own research internally.Advertising We will write a custom case study sample on NUCOR’s History and Development specifically for you for only $16.05 $11/page Learn More The company is highly decentralized, running the different d ivisions like different businesses all together. This is a weakness because it promotes inefficiency and duplication of efforts. The case study indicates that sometimes as many as six different sales people of the company would visit the same client. This is a huge waste of resources and reflects the company poorly before customers. It shows lack of synergy. Sensitive customers may even get irritated and fail to purchase from NUCOR all together. This will reduce income and profits too. Opportunities NUCOR’s major opportunity lies in becoming a globalized company. It can no longer depend on the American market as its only source of revenue. Lately, the demand for steel in this market has slowed down. This has affected negatively on NUCOR’s revenues and profits. However, there is a huge untapped market for steel in Asia and Africa. This is because developing nations still require a lot of steel for infrastructure construction. NUCOR needs to take advantage of this opport unity and enter these markets. These markets are not as saturated as the American market. This will help it to continue on its growth path. This company has a chance to begin carrying out internal Research and Development. This is the only way to guarantee continuous improvement, which is necessary to survive in this dynamic market. The company already has several divisions with a multitude of acquired knowledge over time. NUCOR can leverage on this knowledge and begin its own internal RD department. Having it internal will help reduce dependency on external partners. NUCOR’s major opportunity lies in becoming a globalized company. It can no longer depend on the American market as its only source of revenue. Lately, the demand for steel in this market has slowed down. This has affected negatively on NUCOR’s revenues and profits. However, there is a huge untapped market for steel in Asia and Africa. This is because developing nations still require a lot of steel for inf rastructure construction. NUCOR needs to take advantage of this opportunity and enter these markets. This will help it to continue on its growth path. This company has a chance to begin carrying out internal Research and Development. This is the only way to guarantee continuous improvement, which is necessary to survive in this dynamic market. The company already has several divisions with a multitude of acquired knowledge over time. NUCOR can leverage on this knowledge and begin its own internal RD department. Having it internal will help reduce dependency on external partners.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Threats NUCOR depends on the American market for its major revenues and profits. Unfortunately, this market has become flooded with cheaper imports dumped from foreign countries. Since steel is a homogenous, non-aesthetic product, customers have preferred to switch to these cheaper alternatives. Thus, NUCOR has found it difficult to compete on a global front. The US government tried to salvage steel makers by imposing sanctions and quotas. Commerce players criticized this move. NUCOR needs to find ways to compete sustainably in the global market without depending on government subsidies. Environmental agencies have become quite active in the past decade. NUCOR’s operations are energy intensive hence result in pollution. These agencies have the power to compel NUCOR to take steps to reduce its carbon emissions, which could be quite expensive. If NUCOR fails to comply with their demands, these agencies are capable of calling for boycotts of NUCOR’s products. Steel custom ers have an easy time switching suppliers. The cost of switching is almost zero. This is a threat to NUCOR because businesses are always looking for the cheaper option. If NUCOR’s customers find cheaper options, they will obviously opt to switch. This leaves the company with no source of revenue. NUCOR’s process of production is energy intensive. There has been a general increase in energy costs. This is not likely to reverse soon. This also translates into increased production costs hence increased selling price and thus reduced demand of the company’s products. Demand for steel is also cyclical. This pattern results in high steel prices during some seasons and rock bottom prices during other seasons. The final threat is substitutes. Customers are looking into materials that are lighter but as durable as steel. These alternatives are also likely to be cheaper than steel. If this trend catches on, NUCOR could soon be out of business. Corporate strategy The corpo rate strategy refers to the strategic path taken by the company as a whole in an effort to grow. NUCOR has pursued growth by acquisition, thus creating a conglomerate organization. The first successful strategic acquisition was that of Vulcraft, the joists, and girders producer. This division remained the only profitable one during the troubled ‘60s. In the early years, NUCOR purchased smaller companies in order to acquire the technology they possessed. This enabled NUCOR to maintain a position of technological leadership. In later years, NUCOR continued with these mergers and acquisitions because it was cheaper to buy than build a new plant. The strategic partnership with Japan’s Yamato Kogyo was also an essential part of the corporate strategy. It resulted in NUCOR beginning to use the mini-mill technology. NUCOR’s people are also an integral part of its corporate strategy. The company managed to keep its workers happy and non-union for the major part of its ex istence. NUCOR had an incentive pay programme in place that linked pay and productivity very directly. People knew that if they worked hard, and worked well they would be rewarded. Thus, they strived to do well. This resulted in greater productivity for the company. The people were also kept informed on the company’s performance. This helped them to have realistic expectations about pay. The organization structure also played a part in the company’s corporate strategy. Iverson maintained a ‘flat’ organization structure with few levels of management thus reduced bureaucracy. Division managers stayed in touch with their workers and headquarters avoided interfering with the activities of the divisions. Each division operated as a profit centre, managing its own income and expenses. They were required to provide contribution to corporate profits at year-end. It is difficult to point out NUCOR’s business-level strategy. This is because the corporate stra tegy allowed each division to operate in an autonomous manner provided it was profitable. Such a corporate strategy allows each division to pursue any business strategy it sees fit in its circumstances. Conclusion This case study has detailed the evolution of NUCOR from a bankrupt motor company, to one of the largest steel makers in America. The company prospered under the leadership of a great President, Ken Iverson. Iverson combined both the knowledge and skills necessary to lead such a company. It completed many acquisitions and mergers, which positioned it as a market leader. The company’s greatest strength is its people. They have continued to be productive and loyal to their employer. The greatest weakness is that NUCOR lacks a global presence. In turn, the greatest threat is the cheaper imports from lower-cost overseas producers. The government attempted to protect NUCOR and other steel producers. However, this move is not sustainable. Recommendations NUCOR should keep doing what it is doing well. The company should continue with its personnel policies that have guaranteed a motivated work force over time. The lean organization structure should also be maintained. The company should continue to avoid bureaucracy. The new CEO John Ferriola needs to prioritize internal Research and Development. This will enable the company to find cheaper and more effective production methods. Cheaper steel is the greatest competitive advantage NUCOR can have in a global market. Finally, NUCOR should enter other world markets soon. This will reduce its dependency on the volatile American market. CASE 12-SATELLITE RADIO Introduction The development of Satellite Radio began in 1991 when a venture capitalist, David Margolese invested $1 million in Robert Briskman’s company. This company had designed the unified S Band. This technology was the core of the future satellite radio. Briskman had a great idea, but lacked the funds to implement it. Margolese fell in l ove with the idea and set out to commercialize it. The idea was to provide radio services nation-wide and of high sound quality. This was in contrast to the existing analogue radio that existed locally and faded once one moved out of the locality. This new radio service required the company to put satellites into space to broadcast the signal. Before putting the satellites into space, the company had to purchase a license from the Federal Communication Commission (FCC). This license, together with the cost of satellite installation was projected to be quite high. However, Margolese believed in the idea and was willing to put in the required capital. He projected that this new radio would be operational latest by 1997. Apart from the cost, there was the question of how to convince potential customers to purchase new radios that could support the new technology. This would be difficult since almost everyone already had a radio at home and in his or her car. Secondly, cable TV companie s also provided some form of satellite radio at no cost to their subscribers. It would be challenging to convince people to subscribe to this new radio when they could get the old form free. However, the company did market research and found that customers were willing to pay for superior quality radio. The company also faced opposition from Association of National Broadcasters, which predicted that this new technology might lead to the downfall of local AM, and FM radio stations. This would lead to loss of jobs and local content that residents relied on. XM radio was the second company licensed to provide satellite radio services. External Environment The grand plans for satellite radio faced stiff competition from traditional radio. This radio was already established and relatively free. No monthly subscription was required as opposed to Satellite radio, which required users to pay. In order to counter this hurdle, both XM radio and Margolese’s company –now called Si rus Radio- entered into deals with car manufactures to install their satellite radios during manufacturing. This would force the car buyer to subscribe to satellite radio too. The second threat was internet radio. This is also free as long as the customer has an active internet connection. Unlike local AM and FM, Internet radio had the advantage of ubiquity. Users could access it anywhere in the world. Satellite radio also promised to provide service to the whole country, thus creating competition. The third threat was cable radio that came with cable television. Most Americans already subscribed to cable television. Most cable television companies provided cable radio free with the package. Those that charged did not put a high price to the radio. It was almost free too. Sirus Radio would compete with XM radio for satellite radio subscribers. There was a difference of $2.96 in their subscription fees, Sirus Radio charging the higher fee. Sirus justified this fee with the fact that it aired zero commercials on the music channels. XM radio aired a few commercials and planned to earn money from these commercials rather than charge a high subscription fee. The formats for both radio companies were almost similar, differing in very few respects. Sirus had three motor vehicle companies and XM had two motor vehicle companies as strategic partners. These companies would install their radios in their cars. Threats and challenges These companies needed to install satellites in space to broadcast their signal. Each company planned to install two satellites and have a third one on standby ready to launch in case of emergency. This project would cost Sirus and XM $1.2Billion and $1.1 Billion respectively. They were to be launched in 1999 and 2000. This means that the original timeline for launching the satellite radio was pushed forward by over two years. Margolese’s investment would not pay off as fast as he had imagined. The companies also needed to install repea ters to amplify the sound since America was full of tall buildings that interfered with its path. In addition, special studios were necessary for transmission. Infrastructure for this venture was proving to be quite expensive. Sirus and XM both delayed further in entering the market due to technological problems. Sirus had trouble with its receivers while XM had trouble with its satellites. Sirus took two years to resolve its issues while XM took one. In the end, XM launched nine months earlier than Sirus, in2001. This gave XM first mover advantage. By the end of 2002, Sirus had also launched its services. Unfortunately, XM had ten times Sirus’ customers. This trend continued over time. It was enhanced further by the fact that Sirus charged higher subscription fees than XM. The huge capital requirements meant that these companies would take longer to break even than initially projected. XM, the leading company, hoped to break-even by 2004. This was four years after the initia l launch. XM’s lead was also enhanced by the speed with which its automobile manufacturer firm partners installed XM’s radios. In contrast, Sirus’ partners took much longer to install their radios, hence slowing the growth of their customer base. This delay in launching and long time to break even took a huge toll on Sirus. The company almost went bankrupt in 2002. However, it managed to raise more capital in form of debt and equity to keep it afloat. XM radio also faced cash flow problems in 2003 and sought to raise more capital to survive. The company managed to raise an extra $475 million. This way, it was able to survive the difficult times. XM radio also has some trouble with its satellites. They are degrading faster than expected. This has reduced their useful life by seven years. This will also be an additional capital expense in 2008. The huge capital requirements meant that these companies would take longer to break even than initially projected. XM, th e leading company, hoped to break-even by 2004. This was four years after the initial launch. XM’s lead was also enhanced by the speed with which its automobile manufacturer firm partners installed XM’s radios. In contrast, Sirus’ partners took much longer to install their radios, hence slowing the growth of their customer base. This delay in launching and long time to break even took a huge toll on Sirus. The company almost went bankrupt in 2002. However, it managed to raise more capital in form of debt and equity to keep it afloat. XM radio also faced cash flow problems in 2003 and sought to raise more capital to survive. The company managed to raise an extra $475 million. This way, it was able to survive the difficult times. XM radio also has some trouble with its satellites. They are degrading faster than expected. This has reduced their useful life by seven years. This will also be an additional capital expense in 2008. Competitive Advantage Sirus and XM bo th tried to outdo each other and win more market share. Sirus spent a lot of money signing deals to access exclusive content. The company hoped this exclusive content would motivate subscribers to join its network. The most significant deal was with National Football League and it cost $188 million. Sirus hoped to recover this from increased subscriber numbers. The company also signed Howard Stern for $500 million. This exclusive content was projected to attract new subscribers. XM did not take these moves lying down. They also sought their own exclusive deals to counter. They signed a deal with Major League Basketball that gave them exclusive rights to broadcast their content. Additionally, they signed a shock jock that had previously been banned from radio. These new additions would cost subscribers some extra money. For $1.99 per month, subscribers could enjoy the channels. The deal with Major League Basketball cost the company $650 million. These two companies reduced their comp etition when they signed a deal to develop a common radio that could receive both their channels. This meant that subscribers’ switching costs between the two service providers was now quite low. Financial Performance Initially, satellite radio was projected to be launched in 1997. Unfortunately, this delayed until 2001. On launching, the operating costs were still too high and the companies were projected to break even only after 2004. This did not happen. Analysts pushed this broadcast forward to 2007 for XM radio and 2008 for Sirus Radio. The forecast predicted that in 2007, XM would earn a positive cash flow of $51.1 million while Sirus would still make a loss of $154.2. What had seemed to be a grand business idea that Margolese had planned to invest $500 million in, turned out to be a financial disaster. Over ten years after the original idea was conceived, investors were still pumping money into satellite radio with no tangible returns. This is the mark of a bad busines s idea. It is evident that neither of the two companies carried out proper market research. They were fascinated by the idea and proceeded to invest in it without doing the groundwork. Unfortunately, it failed the test of time. Satellie Radio Today Poor financial performance and inefficient operations led the two satellite radio companies to merge in 2008 to form Sirus XM radio. There was stiff opposition to this move by other stakeholders who believed that a monopoly was not in consumers’ best interests. However, consolidating operations was the only way Sirus and XM would survive. This consolidation proved successful and the new company, Sirus XM posted a profit for the first time in 2009. The company has continued to pursue growth through deals with automobile, aeroplane and boat manufacturers. Conclusion and Recommendation Satellite radio was a noble idea. However, its implementation has cost XM and Sirus much more than the returns. It is unfortunate that so much has alre ady been invested into this idea. The companies, which started out as competitors over ten years earlier, have ended up merging into one. Satellite radios are continuing to be installed in new automobiles. However, drivers are still reluctant to subscribe for this service after the trial period expires. The challenge for Sirus XM is to continue marketing and target the new, younger drivers who are more likely to adapt to the idea.