GE Healthcare Innovating For Emerging Markets- Assignment HelpÂÂ

Question: Depict about the GE Healthcare for Innovating for Emerging Markets? Answer: Developing Trends in the External Environment There are for the most part two patterns, for example, expected development of medicinal services advertise in India and increment in clients with constrained buying power. These were the developing patterns initiated General Electronics (GE) to change its procedure and to address needs of the base of the pyramid (BOP) markets. Medicinal services showcase was required to twofold in the next years and this made GE for an advancement of another procedure. In India, the majority of the medicinal services gadget creators were grown low-esteem items to catch need of the mass market. In this market, there was an absence of universal players (Birkin, 2012). Just a couple of players were created advanced medicinal services gadgets, yet they essentially serve to high-class individuals. This urged GE to tap the mass market of Indian human services advertise with another procedure. Likewise, the presence of exceptionally value delicate clients was additionally urged GE to change its concentration in the Indian market. Because of increment in various such clients, GE changed its concentration and focused on mass market. BOP advertise was required to build that caused it to diminish cost and improve quality for getting to showcase (Stonehouse and Houston, 2013). By offering minimal effort medicinal services hardware, GE urged to keep up various flexibly and request inside the market. Inner Barriers for GE in Development of BOP Market Inner hindrances of this association make issues in the advancement of BOP advertise in India. The fundamental inner hindrance was a contention between individuals engaged with creating items for wide and BOP markets. In GE, individuals attempted to create customary and imaginative items. This makes clashes between working techniques for groups of the association. BOP group worked with actualizing new ways (Hisrich and Kearney, 2013). They favored less to adhere to rules and guidelines for enhancing items for BOP advertise. Then again, the board of this organization underscored on authoritative principles and guidelines. It made the negative observation among BOP groups for the administration (Grant et al., 2012). They saw them moderate moving and traditionalist that influenced their inspiration and profitability at work. This diminished the capacity of GE to accomplish execution gauges from the vital change. Aside from this, individuals of corporate RD saw distinctively to the individuals those work on esteem included and minimal effort items. It additionally made correspondence issue inside the association that deferred development of required item for the BOP market of India. This correspondence hindrance additionally restricted incorporation between the worldwide and national group (Harrison, 2013). It impacted GE Healthcares development in BOP showcase portion of India. Outer Barriers and Proposed Strategies The principle outer hindrance for GE in the Indian market was less information on clients. Because of this, it confronted challenges in improving according to the necessity of the Indian market. Less information about requirements and inclinations of Indian clients, GE was delivering and conveying items unrivaled items for the mass market. Then again, the pattern of centering over the interest of very good quality clients was likewise an outside obstruction that influenced the capacity of GE to accomplish advertise objectives in the Indian market. Because of this, it confronted issues in redirecting RD activities towards the need of clients in this market (Peng, 2013). The exceptionally incorporated association experienced difficulties to fulfill the need of Indian market successfully. These hindrances can be settled by seeing needs and inclination of clients with the assistance of statistical surveying. It could be compelling to create top to bottom comprehension about the Indian market and to control RD activities of this firm more adequately. Aside from this, the incorporation of nearby clinical specialists and specialists in research exercises, GE could ready to imagine items according to the need of clients in generally less expense (Hisrich and Kearney, 2013). The showcasing objective in Indian market of this organization was to grow minimal effort and top notch medicinal services gear that could be accomplished with the utilization of neighborhood information. Steps of GE to Develop Strategy for BOP Market GE investigated interior and outside condition of the nation to build up a proper procedure. It permitted this firm to decide openings, dangers, qualities and shortcoming of BOP showcase. Natural examination is the significant guideline of key reasoning and arranging as it causes firms to comprehend clients needs, associations current position, accessible contribution, and so on. (Award et al., 2012). Based on this, GE rolled out required improvements in plan of action and structure. It embraced a nearby methodology to address needs of clients of BOP showcase. The decentralized business structure was created to concentrate on the focused on advertise. Through this, it set up a connection between various units and regions of business for making cooperative energy (Peng, 2016). The key of key arranging and believing is to create advertise information totally that encourages the plan of significant technique. The situational examination was utilized by this organization to build up a particular vision, points, and destinations for BOP showcase. It gives this firm a viable floor to plan systems to satisfy the clients need. For instance, it is investigated that BOP showcase requires modest human services administration with worthy execution (Nikos and Nassos, 2013). This information helped this firm to start RD exercises to support this need of market in a superior manner. GE Healthcares Strategy The healthcares technique of GE for BOP advertise gave a viable floor to apportion assets based on the need of created and developing markets. So as to pick up accomplishment in BOP showcase, it utilized neighborhood RD that brought about worth creation and accomplishment. Bolster exercises of this firm including human asset the board, innovation the board, foundation, and obtainment were encouraged using neighborhood information and bore. It encouraged decentralization of business exercises of GE in the two markets (Birkin, 2012). With its technique, the firm increases better information on customers needs and to source various parts from the nearby market. This permitted this firm to design another item for new client section in ease. It made extra an incentive to the administration conveyance and bolster exercises of GE (Grant et al., 2012). The procedure of GE in BOP markets improved serious situation in the worldwide market. Through this, it built up a picture of a mindful firm for fulfilling needs of clients in created and developing markets both. It imagined a minimal effort Electroencephalography (EEG) in the creating business sector and afterward conveyed it in the worldwide markets (Peng, 2016). Switch advancement helped GE to build up a solid position. References Birkin, J. (2012) Business Advantage Advanced Teacher's Book. UK: Cambridge University Press. Award, R.M., Butler, B., Hung, H. Orr, S. (2012) Contemporary Strategic Management, Google eBook: An Australasian Perspective. USA: John Wiley Sons. Harrison, A. (2013) Business Environment in a Global Context. UK: Oxford University Press. Hisrich, R. D., and Kearney, C. (2013) Managing development and business. USA: Sage Publications. Nikos, G. also, Nassos, P. (2013) Practical Avlonas, Sustainability Strategies: How to Gain a Competitive Advantage. USA: John Wiley Sons. Peng, M. (2013) Global business. USA: Cengage learning. Peng, M. (2016) Global business. USA: Cengage learning. Stonehouse, G. what's more, Houston, B. (2013) Business Strategy. UK: Routledge.

General Suggested improvements Essay Example for Free

General Suggested enhancements Essay The enhancements I recommend would incorporate having utilities like File Wipe and information encryption, Firewalls and other Malware insurance. You should utilize strategies, for example, Health and Safety messages, for example, just water might be close to the PCs, and afterward it ought to be in a protected jug and such things as information mindfulness, e. g. , individuals realizing what they ought to and ought not erase and where information is held and why they ought to have passwords and why there ought to be solid passwords. There ought to be effective garbage mail channels on your email to keep away from any infections coming into your framework by email. Undertaking 2: Types of dangers to your physical security with proposed improvements(P2) Biometrics These are mechanical safety efforts that recognize fingerprints, walk acknowledgment and iris identification, and so on. Know that these strategies are not secure! There are individuals out there who go through consistently attempting to beat these frameworks. Physical security These are safety efforts like bolts and dashes on entryways and windows. Security monitors and canines could be utilized, and criminal alerts, for example, movement sensors, clamor recognition and different sorts of cautions; CCTV cameras and Smart cameras to be conveyed inside and outside the structure. The ways to the server ought to be bolted and a security gatekeeper ought to be situated outside the entryway. With the servers hardrives being secured and for higher safety efforts, having a vault entryway before the server, and having the entrance keys 12 meters separated, and worked at the same time by two separate representatives, would guarantee more noteworthy (however not idiot proof) security. You could put resources into a debacle safe live with heat proof tiles, and some method of sifting flood or abundance water, and some method of chilling things off if the cooling separates to maintain a strategic distance from the server being overwhelmed as well as cooked, for your server to oppose things like fear based oppressor assaults, e. g. , bombs or potentially the far-fetched yet conceivable occasion of a tornado. All these physical security frameworks could assist with making your business secure. Depict how programming and system safety efforts can help keep frameworks and information secure. (P3, M1) Software and Network Security The primary recommendation I would make would be purchase or download your product from legitimate retailers. Unlicensed and split programming could likewise have joined Malware in the figuring out code and furthermore, you could be in a tough situation with the law in the event that you utilize unlicensed programming. You ought to have the applicable security programming modern and ensure your enemy of Malware insurance isn't really Malware professing to be against Malware to trick you. Firewalls are allegorically a divider among you and the Internet which denies access to anything you havent determined (I. e. , programmers and vindictive sites or material). Each PC has an interesting distinguishing proof location, comprised of a progression of numbers, and furthermore given a space name relating to those numbers, for simpler access, e. g. , howstuffworks. com is otherwise called 216. 27. 61. 137 . A firewall can hinder all entrance to a particular IP address. Firewalls can likewise channel messages and screen endeavored break-ins. Firewalls can likewise be executed in specific machines to permit just a single convention, e. g. , http or tcp and square all others. Encryption Encryption is a procedure turning customary content, pictures and other information into messy content and pictures and information through a progression of basic or convoluted calculations relying upon your security needs. The content will turn out this way:- 5ugre54jyt656f5t8uf which , for anyone who can talk twofold Dutch, implies literally nothing. Encryption is significant for touchy individual data or any business related data which would make it harder for the programmers to maintain your data in any decipherable manner. In encryption procedures, there are two sorts of keys, Public and Private. The Public Key is a key that can be passed around and made open. This is to scramble any data. When an individual has scrambled the data, it can't be decoded without the Private Key which is a secret key, not really a word in the English sense, it very well may be any blend of letters and numbers, which is progressively prudent. For more prominent security, the secret phrase ought to be independent from any computerized medium however some product permits you to store it on your PC for programmed decoding. Hostile to Virus Software. Hostile to infection programming secures against infections. They have a database of the general format of infections so they can perceive any future infections and furthermore any current ones. This is a basic bit of programming, especially if your PC has an infection, as this can make it delayed down or not work inside and out, so it is exceptionally fitting to have a type of hostile to infection programming introduced. Staff Training. It is critical to give guidelines or Code of Conduct in your Company, e. g. , you could indicate that representatives may just utilize their email for work purposes. Staff ought to know that it is uncertain to leave a PC signed on when they are nowhere to be found and furthermore not to leave their PCs in vehicles or on open vehicle. PCs ought not be left in vehicles short-term in cool conditions as this could incapacitate them. PCs ought not be left in any condition where they could overheat and pulverize the substance inside. Staff ought to likewise know that infections and other Malware can be sent by means of email connections so they should not open any email connections except if you explicitly realize what that connection contains. Staff ought to likewise be prepared in information the board. This is keeping your records in an organized and sorted out style, having reasonable document names and organizer names, comprehending what ought to and ought not be erased, realizing how to accomplish erased things, and recognizing what to do when other office programs crash and knowing where you can get the autosave records from. The last preparing staff need to know is about copyright, enlisted trademarks and patent Laws and furthermore unoriginality. Biometrics. Biometrics is combining science with IT in the way that fingerprints can be utilized to get to PCs or other physical zones. Realized biometrics are:- step acknowledgment, unique mark filtering, iris identification, discourse acknowledgment. The expenses of these safety efforts can be very costly, particularly the more current ones like walk acknowledgment and iris location. Increasingly regular biometrics are generally modest like fingerprinting and discourse which are presumably the most widely recognized ones around. Passwords. Passwords are significant to stop any crafty information hoodlums. On the off chance that everyone has a solid secret word, these sorts of hoodlums will be halted. When pursuing a Google mail account, they have a marker close to the secret phrase, they have a scale close to the secret word chose, to demonstrate whether this is a frail to solid secret phrase. By and large, feeble passwords are 1 6, your pooches name, your wifes names, or any comparative name, significant dates like your birthday. These are viewed as frail passwords as they can without much of a stretch be speculated. Solid passwords are normally an alphanumeric mix of upper and lower case letters, for example, GIRfufr57fjy, keep frameworks and information secure. Get back to Call back is the CPU requiring a procedure to be postponed, to return to it later. Handshaking is the PC and an another PC settling on the convention. Utilization of Backups The utilization of Backups are fundamental to your business, so that if your hard drive bombs you should get another hard drive and in the event that you fail to back up your PC, every one of your information is lost. So reinforcements are basic to keep information secure. Review logs Audit logs are projects to log any progressions to your PC, eg when you sign in, the review logs check the logs for your username against your secret key and do you have authorisation to access to proceed if so all the more checking, keeping frameworks secure. Firewall Firewalls are figuratively a divider among you and the Internet which denies access to anything you havent determined (I. e. , programmers and pernicious sites or material). Each PC has an interesting distinguishing proof location, comprised of a progression of numbers, and furthermore given an area name relating to those numbers, for simpler access, e. g. , howstuffworks. com is otherwise called 216. 27. 61. 137 . A firewall can obstruct all entrance to a particular IP address. Firewalls can likewise channel messages and screen endeavored break-ins. Firewalls can likewise be executed in specific machines to permit just a single convention, e. g. , http or tcp and square all others, keeping frameworks and information secure. Design You have to arrange your PC and additionally organize security to your security strategies. On the off chance that you arrange your security appropriately it will forestall unapproved get to onto your system or coincidental erasure of information. The setup is imperative to keep your framework running easily and your work safe.

Beloved Interpretation

Music, rhyme and mood join all together to invigorate the effect of words and verse. In Beloved the writer can really communicate their aching for a darling through the progression of time, and explicitly that of seasons.He utilizes dark, white and dull symbolism to depict the need radiance of his life in winter because of the inadequacy of metaphorical shading because of missing his â€Å"Beloved. † It nearly appears as though the speaker’s each second is spent pausing and trusting. Clearly, the adoration is responded and is amazingly deep.The speaker’s utilization of seasons is a similitude for time went through with his darling and away from his sweetheart. Regular daily existence appears to be dreary and dull like winter. He has gotten numb, lost all physical and passionate sensation. Then again, being as one with his sweetheart is a â€Å"warm wind† and â€Å"no statures could keep [them] from their span. † The poet’s picture of wings, m ists and the sky is another illustration for unlimited prospects, vulnerabilities and the would like to accomplish unfulfilled yearnings and dreams.Being together permits both of the sweethearts to satisfy their maximum capacity, motivate each other just as interface on a forceful passionate and otherworldly level. Time is a repetitive and huge component all through the sonnet. Time seems to have eased back down fundamentally in light of the fact that consistently, consistently is spent in longing.The truth that â€Å"eternity awaits† demonstrates that despite the fact that being as one and in affection might be very troublesome, it is definitely justified even despite the pause. I picked this sonnet since it is pressed with crude feeling and discusses incredible love that can beat troublesome limits and circumstances.These verses are relatable and conjure a feeling of expectation inside the peruser. Individuals will in general look towards books, words, melodies and even mot ion pictures for passionate quality and encouragement.The speaker recounts to an extremely close to home story and connects with his darling as well as to the perusers and audience members. The subtle part of time is charming and engaging; it figures out how to attract you. In a manner you trust the darlings and rejoined. By and large, the sonnet is unusual and genuine, making it novel and charming to peruse, and most likely stunningly better when set to a tune.

Research Paper And Description Of Accounting Cycle - 550 Words

Research Paper And Description Of Accounting Cycle (Essay Sample) Content: Full Name:Instructor Name:Course:Date:Accounting cycleThe accounting cycle is well known as the fundamental set of processes that incorporate the recordkeeping system of finance of an organization. Throughout the life cycle of accounting or rather the whole course of a time period of accounting, numerous transactions of finance are likely to have taken place. Changes of the ownership of a company, customers incoming payments as well as vendors outgoing payments for their supplies are usually the common transactions for an organization. The above mentioned transactions are always recorded and later on transformed into financial statement whenever there exists a completion of an accounting cycle. The transformation of a recorded transaction into financial statement is done for an effective communication. A good number of organizations follow the rules implemented by the GAAP which is well known as the Generally Accepted Accounting Principles (Agtarap 581). Also, a compa ny will be able to utilize the information obtained from the whole process pertaining the accounting cycle for internal decision making as well as external communication.The accounting cycle is a set of rules arranged in a manner that enables a company to secure conformity and precise statement of finance. The mathematical errors that are associated with the process of accounting have been greatly reduced or rather minimized by the application of computerized accounting system (Munteanu and Laura 347). The following are the steps incorporated in the accounting cycle.Transaction classification and journal entriesIdentifying a transaction and classifying it, is always the first step in the cycle of accounting. Whenever a client purchases an item from an organization, it very crucial for the organization to record the transaction in an appropriate source document. In other words, after purchases are done in a company, an invoice is prepared and submitted to the department of accounting for the general ledger recording purposes (Cunningham et al. 203). In a good number of companies, transactions are recorded electronically and this reduces the occurrence of errors.Trial balance and entry adjustingTrial balance is always prepared after recording all the transactions on a general ledger. The trial balance takes all the general ledger accounts and ensures that the credit side is equal to the debit side. An error is detected whenever the credits are not equal to the debits. Such scenarios imply that there existed an error at some point in the cycle of accounting. This forces the organization to start checking through the entry of journals so as to try to locate the source of the error. Some companies utilize the application of accounting software that alerts the department of accounting the existence of a discrepancy (Weygandt 56).Financial statementAfter preparing the adjusted trial balance, financial statement is created. Balance sheet, cash flow statements, statem ent of income as well as retained earnings statements are among the vital financial statements in an organization (Weygandt 58). Each of the above mentioned financial statements serve purposes that are unique to each other and the statements are designed in a way that communicate financial data in a format that is well understood.

Stigma Of Mental Health Disorders - 1835 Words

Stigma on Mental Health Introduction There are still many societies that view people with mental health problems as threatening or unstable. These attitudes often cause stigma and discrimination towards people with mental health problems. Many people who make these assumptions about people with mental health problems are often uneducated. Social workers today educate and help families that may may be struggling with this disease. Mental health disorders affect different people and are more prone to exist in areas where help can be found or is not affordable. Mental health disorders are often frowned upon by people because they do not understand it. Many people live throughout their lives not getting the help they need because of stigma on this topic. As a society Mental health diseases should be identified as problem that can be fixed and not be an identification for the person it is affecting. Social problem or human need Mental health disorders are a problem not only American’s face. It is a worldwide problem that today we still are unclear of what causes these disorders. â€Å"Mental health can be defined as a person’s condition with regard to their psychological and emotional well being† (Oxford Dictionaries, 2016). Mental health disorder can affect children all the way to the elderly. Stigma and discrimination can add to the suffering for mental health patients. It often leads to potential clients turn away and never find help because of the labels people put onShow MoreRelatedStigma Surrounding Mental Health Disorders1059 Words   |  5 PagesThe Stigma Surrounding Mental Health Disorders Mental health disorders affect just about every single person in the world. These disorders come in many forms and severities. A couple of these disorders are depression, anxiety, eating disorders, posttraumatic stress disorder, and many more. In the United States alone 43.8 million, 1 in 5, adults suffer from a form of a mental health disorder. About 21.4%, or 1 in 5 juveniles ages 13-18, suffer from mental health disorders. Of people in our countryRead MoreMental Illness And Its Stigma1363 Words   |  6 PagesMental Illness and Its Stigma â€Å"One in five adults in America experience mental illness,† (Mental Health, n.d., para 1). Many people define mental illness as a characteristic that makes one irrational or delusional and derives a belief that those who have mental disorders are not suffering from a real disease, resulting in a negative view of those who suffer. There are three ways to defy this stigma that everyone, from media producers to the sufferers themselves, must participate in to break downRead MoreThe Stigma Of Mental Health Stigma1178 Words   |  5 Pages To many a stigma is a disgraceful flaw, that of a negative presence. In mental health this stigma is overwhelming. Approximately 57.7 million Americans experience a mental health disorder in any given year. (National Alliance on Mental Illness) People in dire need of help are not seeking it. Mental illnesses are going undiagnosed. The mental health stigma is having a negative impact on the proper diagnosis and treatment of mental illnesses. A stigma can simply be defined as a mark of disgraceRead MoreHow Does Stigma Affect Personal Life Goals?1094 Words   |  5 PagesCONCEPT How does stigma affect personal life goals? Stigma is found in two different forms, public and self-stigma. Public stigma can be described as stereotypes, prejudice and discrimination. Common stereotypes about mental illness include blame, dangerousness and incompetence (Corrigan, Larosn, Ruesch, 2009). The forms of public stigma cause a chain reaction leading to a loss of opportunities, coercion and segregation for people with mental illness. Self-stigma is defined as a devaluation ofRead MoreThe Stigma Associated With Schizophrenia1554 Words   |  7 PagesThe Stigma Associated with Schizophrenia. Jason Branch Fayetteville Tech Community College Author Note This paper was prepared for English 112.02, taught by Mr. Charles King on April 2, 2015 Abstract Mental illness is an area that many people are uncomfortable with. There is something suspicious about people who tend to appear mentally ill. This creates nervousness, fear, while presenting the unknown; therefore, Stigma. Now Stigma is defined as disgrace or public disapproval, which can leadRead MoreMental Illness Refers To A Wide Range Of Mental Health1742 Words   |  7 PagesMental illness refers to a wide range of mental health disorders that can affect mood, behavior, and cognition. Multiple factors such as genetics, environment and lifestyle can influence whether someone develops a mental health condition. â€Å"The four D’s† model is often used in psychiatry to distinguish normal from â€Å"abnormal† mental state. In other words, this model makes it easier to understand characteristics of people who have a mental disorder. The four Ds stands for behaviors or thinking processesRead MoreHow Stigma Interferes with Mental Health Care892 Words   |  4 Pa gesHow Stigma Interferes With Mental Health Care Patrick Corrigan’s article on stigmas and how they interfere with mental care brings insight into a world that many people face. Although there are conflicting ideas on how exactly stigmas towards mentally ill people are broken down, (people labeled mentally ill are stigmatized more severely than those with other health conditions; people with psychotic disorders are judged more harshly than people with depression or anxiety disorders) there is anRead MoreWhen An Individual Has Lung Cancer, There Is An Immediate1411 Words   |  6 Pagesof stigma. Individuals who suffer from a mental illness are often stigmatized by prejudice and discriminatory views or actions, through the stereotypical portrayals and mass media characterization of people with mental disorders. First, one must understand the reasons and origins of mental illnesses. Individuals with mental disorders/illnesses may suffer from child abuse, sexual abuse, drug abuse, psychological trauma, childhood trauma, may have a family history of a relative having a mental disorderRead MoreMental Illnesses Are Not A Thing Of The Past1255 Words   |  6 PagesMental illnesses are not a thing of the past. They are also our present and future.John Q. Adams once said, â€Å"Who we are, is who we were.† That quote accurately describes mental illnesses and the mental health of humans everywhere. A mental illness can be defined as a health condition that changes a person s thought process, emotions, behavior, and/or their body. Mental illness causes a person distress and difficulty in functioning and can lead to atrophy. They are ingrained in the wiring of manyRead MoreThe Effects Of Stigma Surrounding Mental Illness1658 Words   |  7 PagesMental illness is a controversial topic in rece nt news. From Sandy Hook to the Aurora movie theatre shooting, the effects of mental illness have sparked fierce debate and negative stigma surrounding the issue. Mental illnesses, â€Å"patterns of thoughts, feelings, or behaviors that are deviant, distressful, and dysfunctional† (Myers 562), affect 1 in 4 people at some point in their lives (Stigma and Discrimination). However, only 59.6% of people with mental illness report receiving treatment, as they

Online Shopping And The Future Of All Business - 1936 Words

Popularized by websites like Amazon and eBay. Online shopping and the virtual store may be the future of all business. Online shoppers spent an estimated 126 billion in the U.S. alone in 2013. Seeing exponential growth in coming years, Many major retailers have already made efforts to set up online shops. Retail juggernauts like Walmart and Target have thrown their hats into the online arena with websites of their own. Many more entrepreneurs have begun creating entire businesses online. The reasons to take your company digital may be plentiful. As more of the world gains access to the internet even more markets become accessible. With the advent of drone technology and better delivery methods online sales and logistics are becoming easier and more cost efficient. Also online stores and warehouses require less manpower making them cheaper. But a major impact of this growth is the decline in recent years of big box retailers and subsequently the fall of The Mall. As more consumers choose to do their shopping online many retailers and shopping centers are being left behind. As the number of failing malls begin to rise and consumers choose in larger numbers to forgo the lines and do their shopping online, it is a trend that we predict will grow in importance and impact in the coming years. So in this paper, we will discuss online retail and e-commerce as a whole. We will look at it’s history and current impact. Then we will make someShow MoreRelatedOnline Shopping And The Future Of All Business1867 Words   |  8 Pageswebsites like Amazon and eBay. Online shopping and the virtual store may be the future of all business. Online shoppers spent an estimated 126 billion in the U.S. alone in 2013. Seeing exponential growth in coming years, Many major retailers have already made efforts to set up online shops. Retail juggernauts like Walmart and Target have thrown their hats into the online arena with websites of their own. Many more entrepreneurs have beg un creating entire businesses online. The reasons to takeRead MoreEffects Of Online Shopping For Brick And Mortar Stores906 Words   |  4 Pages The Effects of Online Shopping for Brick-and-Mortar Stores Retail businesses and other small businesses have seen a huge drop in sales due to the convenience and simplicity of shopping online when and where the customer wants too. According to Market Line’s 2015 Industry Profile, Table 4 and Figure 4 show the expected percent of the retail sector value to grow 10.5% by the year 2019 and to reach a projection of 574.5 million dollars. (Market Line) The retail businesses and other small businessesRead MoreThe Future of Online Shopping1047 Words   |  4 PagesThe future of online shopping: Welcome to the matrix? Shopping online is about to blow up. Retailers of all types are increasing product offerings, adding in-store pickup, free shipping and testing social media. Its getting harder to tell pure play Internet retailers from the bricks and mortar shops with online portals, and all of them are reinventing how well shop online in the future (Heller, 2011). Whether it is by way of a mobile device, tablet computer, in-store kiosk or computer, theRead MoreDiffernce Between Online and Physical Shopping1194 Words   |  5 PagesIntroduction Online shopping or online retailing is a form of electronic commerce whereby consumers directly buy goods or services from a seller over the Internet without an intermediary service. An online shop, eshop, e-store, Internet shop, webshop, webstore, online store, or virtual store evokes the physical analogy of buying products or services at a bricks-and-mortar retailer or shopping centre As we know that online shopping is the easy way shopping but also there are certain advantages asRead MoreEvaluate How Future Changes in Economic, Political, Legal and Social Factors May Impact on the Strategy of a Chosen Organisation997 Words   |  4 PagesEvaluate how future changes in economic, political, legal and social factors may impact on the strategy of a chosen organisation Changes in a number of different factors can affect the way in which the business is run in the future and this could mean that the business has to look into different ways of tackling problems, which would mean they have to forecast what they believe the future is going to be like. Tesco as an organisation is constantly expanding because of the amount of people who needRead MoreOnline Shopping versus Traditional Retail Store639 Words   |  3 PagesOnline Shopping vs. Traditional Retail Store One of the most debatable decisions for most Americans during the sale event or holiday is whether to shop or not to shop. Especially, when considering that some of the online shopping websites such as Amazon and eBay are established. To shop online or to shop in the store has become a more practical question. I used to be a traditional shopper, but I changed my mind sometime over years since I found that shopping online is much cheaper and more convenientRead MoreImpact Of Online Shopping On Businesses1439 Words   |  6 Pagesthat applies in Australian workforces. The issue is the impact of online shopping and what effects it has on businesses. According to Australian Bureau of Statistics, 43% of Australians use the internet to buy products and services . This states that the internet is changing consumer shopping habits fast, and most likely, forever. As reported by the National Retail Association, 50,000 people will lose their jobs due to internet shopping . These statistics wil l significantly affect the work place withRead MoreBackground. Today, People Are Engaging In E-Commerce More1742 Words   |  7 Pagesareas of business including retail, services, wholesaling and manufacturing. The growing acceptance of the Internet and e-commerce in the early 1990’s changed the way people shopped, shifting consumer preference from traditional to online shopping. With the introduction of personal electronic devices and more readily available wireless internet, Amazon’s customer membership continues to grow. As online retailers continue to experience high demand among American consumers, small business owners areRead MoreAmazon s Major Competitors Are Divided1086 Words   |  5 Pages C. Shawn and Peilan Amazon’s major competitors are divided in two parts. The first part is physical stores such as Walmart or Target. The second area of competition is through the online market eg; EBay and BestBuy. As opposed to Amazon, customers in a physical store could have more comprehensive experience, especially for specific products like clothes and electronic devices. Some customers need to be able to see and try the product themselves before feeling comfortable enoughRead MoreE Commerce : A Market Scale1690 Words   |  7 Pagesfor other activities and it is not only tedious but time consuming to go out shopping in physical stores. In a market scale this could be an astounding figure providing enormous market space. E-business can be used interchangeably with the term E-commerce with occasional use of the term e-tail to refer to online retailing activities. In a retail interest shopping carts are normally established upon which customer shopping habits and preferences can be monitored although some entrepreneurs using the

Commercial Law Lexicon Pty Ltd.

Question: Discuss about the Commercial Law for Lexicon Pty Ltd. Answer: Facts and Issue Lexicon Pty Ltd is a huge proprietary company which manages a construction and a building business across Queenstown and Northern Territory in Australia. The said company had a board consisting of three directors. Grant Big Boss Jackson was the founder of the said company, his son Bob Jackson is in charge of the manufacturing and Gerard Stone who is a qualified accountant and a family friend act as the directors of the company. Additionally Gerard Stone was the company secretary for Lexicon Pty Ltd. In the 12 months, the business of the said company has been very great and with the Paris climate agreement in December 2015, the companys board saw vast expansion opportunities in the remote areas of Australia especially in the South Australia and Western Australia. Olivia was the daughter of Grand and even though he was not formally appointed as a director of the company, she occasionally attended company board meetings and acted as a office manager and head of administration. However, to expand their business operations to other parts in Australia, the company needed to increase its manufacturing capacity as well as the staff of the company. Thus, for the same the company would require to borrow approximately AUD 3-4 million. However, the board decided to not continue with the expansion plan and discuss the same mid next year. Bob and Olivia were very upset with the said decision. Olivia took the business expansion plan to a bank and the bank manager looked very convinced with the plan and immediately agreed to fund and said plan by providing a loan. Olivia convinced Bob to join her in the said conduct and both Olivia and Bob signed a loan agreement and a mortgage contract on behalf of the Lexicon Pty Ltd. Without any intimation to the other two directors of Lexicon Pty Ltd, Olivia and Bob used the loan money to set up new offices in Australia and hired new staff. However, three months later, all the loan money was exhausted without any order for construction of a new home. The March and April repayment of the said loan was due and thus the bank sent a formal letter to Lexicon Pty Ltd seeking total payment of the loan which was yet unpaid. However the other two directors stated that the Lexicon Pty Ltd is not liable for the loan repayment and the mortgage contract as the said company never approved the said loan or any transaction with the bank. Thus, the issue in the said case is whether Lexicon Pty Ltd is liable to pay the bank the default amount of the loan and whether the mortgage contract signed on behalf of Lexicon Pty Ltd can be considered void? Rule of Law Every company which is operative and managed in Australia is governed by the rules and regulations made under the Corporation Act 2001. Thus, the Corporation Act 2001 is the primary statute which determines the duties, obligation and liabilities of a company operative in Australia under particular situations (Salthammer, Mentese and Marutzky 2010). There are certain business law doctrines which are application in company or business laws of most of the countries. One such doctrine is the doctrine of indoor management (Ridley 2011). This doctrine states that when an individual is dealing with a company or a corporation, it is correct to assume that the said individual is acting in good faith and with the lack of any knowledge about any irregularities, needs to inquire about the formalities of the internal affairs of a company however can rightfully assume that the said company is complying with its bylaws and constitution (Goldberger 2014). Thus, doctrine is known as the doctrine of indoor management which protects an outside while dealing with a company to assume that the said company is complying with all its constitution and replaceable rules. Thus, if an individual dealing with a company suffers any harm or loss sue to companys non-compliance in its intern affair; the individual can hold the company liable for the same (Path ak 2013). In a famous case law Royal British Bank v Turquand the director of a company granted a bond to a bank. However the Articles of Association of the said company stated that the same could be done only after it is bring approved at a board meeting in a general resolution (Cain 1989). Thus, when the liability of the bond arose, the company stated that no resolution passing the same was approved by the company, thus the company is not liable (Sheikh 2013). However, the judge in the said case applied the doctrine of indoor management and stated that the said doctrine protects innocent parties that deal with companies and who are totally unaware of the internal working of the company, such people have the right to assume that the company has complied with all the necessary laws in its internal management (De Lacy 2013). The Corporation Act 2001 in Australia also has adopted the Doctrine of Indoor Management and makes similar provisions in section 128 and section 129 of the Corporation Act 2001. Section 128 of the Corporation Act 2001 permits to make certain assumption while he dealing with a company operative in Australia. Section 129 of the Corporation Act 2001 gives the list of the assumptions which can be made by an individual who deals with a company in Australia. The section 129(1) of the Corporation Act 2001 states that the any individual dealing with a company may assume that the companys constitution and the rules and regulations of the Corporation Act 2001 that are applicable to a company in form of replaceable rules are complied with in the internal management of the company (Shepherd and Ridley 2015). Additionally, section 129(2) of the said act states that an individual dealing with a company may rightfully assume that anyone who appears, from information which is made open to public by a company to be a director of a company is duly appointed following all rules of such an appointment and has the authority and the power to exercise all the duties as a director of the said company (Hill 2012). Thus, the Corporation Act 2001 also recognizes the doctrine of indoor management by incorporating section 128 and 129 within its scope (Vasudev and Watson 2012). Application In the present case, there were three directors of the Lexicon Pty Ltd who were Grand, Bob and Gerard. Olivia was the daughter of the founder of the company and though not formally appointed attended board meetings of the Lexicon Pty Ltd and worked as the office manager and head of administration. When the expansion plan was disapproved by the board of Lexicon Pty Ltd, Olivia convinced Bob to enter into a loan agreement and mortgage contract to fund the expansion plan and without the knowledge of Grand and Gerard, the remaining two directors of Lexicon Pty Ltd, secured a loan and mortgage of AUD 3-4 million. However, soon when the expansion plan failed, the replayment of loan amount become impossible finally bank sending a letter to Lexicon Pty Ltd claiming for the same. Grand and Gerald stated that Lexicon Pty Ltd was not liable as the said loan was not approved, however the doctrine of indoor management applies to the present situation and bank in the said case is the outside party which is protected if the internal management of the company had any non-compliance or irregularity. Thus, the bank is allowed to presume that Olivia and Bob had the authority to enter into a loan agreement and a mortgage contract on behalf of Lexicon Pty Ltd. Thus under section 128 and section 12 9(2) of the Corporation Act along with the doctrine of indoor management, the Lexicon Pty Ltd would be liable for the loan repayment and the mortgage contract is also valid and Lexicon Pty Ltd is entitled to make the payment to the bank as the bank was right in assuming that the Olivia and Bob who signed the loan agreement on behalf of Lexicon Pty Ltd had full authority in doing the same. Lexicon Pty Ltd is liable for both repayment of the loan amount which was in default. Additionally, the mortgage contract was also valid and Lexicon Pty Ltd was liable under the said contract. 2. Facts and Issues Grant Jackson owns 60 %of Lexicon Pty Ltd shares and bob, Olivia and Gerard own 5 % each shares of Lexicon Pty Ltd. The remaining shares of the company are held by Jackson families past associated people. Samantha Jackson who is the first wife of Grand Jackson but not the children of Bob and Olivia on learning about the failed expansion plan and financial issues with the Lexicon Pty Ltd feared the value of her shares would drop drastically and was determined to get back some money from her ex-husband and his children. The issue in the said case, after assuming Lexicon Pty Ltd had to pay the loan, can Samantha Jackson under the Corporation Act 2001 get some money from Jackson family and their family accountant. Rule of Law The rules and regulations established under Corporation Act 2001 are to be followed by all the companies operative in Australia (Fox 2013). Thus, any company not complying with the rules and regulation of the Corporation Act 2001 has to suffer the consequences of non-compliance. Every company has directors who are responsible for the internal management of the company. However, if the said directors fail to perform their duties as a director, they are personally liable to the company and the shareholders of the company (Brand, Fitzpatrick and Lombard 2013). There are many grounds on which a director of an Australian company becomes personally liable. One of these grounds includes debts incurred when a company becomes insolvent (Du Plessis, Hargovan and Bagaric 2010). A director may be liable to pay the debts of the company in case the company fails to pay its dent as and when they fall due. The primary reason for making a director liable for the same is because it is the directors du ty to make sure that a company does not trade when its insolvent. A company is Australia is considered to be insolvent when it fails to pay its debts as and when it falls due (Gitman, Juchau and Flanagan 2010). Thus, in such a case, a director is personally liable for the debts incurred and continuing the trading of a company when its insolvent is a violation of the section 588G of the Corporation Act 2001 which states that it is the duty of the director of a company to prevent insolvent trading by company (Omar 2013). Thus, the shareholders and the creditors of the company can ask the director to pay for their loss and damage which is incurred by the insolvent trading of the company as a debt which is mentioned in section 588M of the Corporation Act 2001 (Buchan 2013). Application In the said case, there were three directors of the Lexicon Pty Ltd who were Grand, Bob and Gerard. Bob along with Olivia entered into a loan agreement with a bank on behalf of Lexicon Pty Ltd without the knowledge of the other two directors. Soon, the company suffered financial losses and repayment of the loan amount got difficult, it is when the other two directors realized the said loan was taken on behalf of Lexicon Pty Ltd. However, in the said case, the directors of Lexicon Pty Ltd will be liable for the debts incurred as the directors failed in their duties as a director as set in section 181 of the Corporation Act. Additionally, the company also indulged in trading while it was insolvent, thus the directors of the company breached their duty under 588G of the Corporation Act 22001 and are liable to pay the creditors and the shareholders of the company any loss incurred by them. The said amount can be collected by the directors of the company similarly a debt is collected. The refore, in the said case, Samantha being a shareholder of Lexicon Pty Ltd, can claim for compensation from the Jackson family for her losses suffered due to insolvent trading of the company under section 588G and 588M of the Corporation Act 2001. Conclusion Samantha is liable to get back money from the Jackson family under section 588G and 588M of the Corporation Act 2001. Reference List Brand, V., Fitzpatrick, J. and Lombard, S., 2013. Governance and Not-for-Profits: Regulatory Reform.Flinders LJ,15, p.381. Buchan, J., 2013. Franchising: A honey pot in a bear trap.Adel. L. Rev.,34, p.283. Cain, T.E., 1989. Rule of British Bank v Turquand in 1989, The.Bond L. Rev.,1, p.i. De Lacy, J. ed., 2013.Reform of UK Company Law. Routledge. Du Plessis, J.J., Hargovan, A. and Bagaric, M., 2010.Principles of contemporary corporate governance. Cambridge University Press. Fox, J., 2013. What are the obligations of directors and officers of a company limited by guarantee that is a charity?.Keeping Good Companies,65(4), p.221. Gitman, L.J., Juchau, R. and Flanagan, J., 2010.Principles of managerial finance. Pearson Higher Education AU. Goldberger, J., 2014. Contract law in the cases: 2013 in review.Commercial Law Quarterly: The Journal of the Commercial Law Association of Australia,28(2), p.12. Hill, J.G., 2012. Why Did Australia Fare So Well in the Global Financial Crisis?. Omar, P. ed., 2013.International insolvency law: Themes and perspectives. Ashgate Publishing, Ltd.. Pathak, A., 2013.Legal Aspects of Business. Tata McGraw-Hill Education. Ridley, A., 2011.Company Law. Routledge. Salthammer, T., Mentese, S. and Marutzky, R., 2010. Formaldehyde in the indoor environment.Chemical Reviews,110(4), pp.2536-2572. Sheikh, S., 2013.A guide to the Companies Act 2006. Routledge. Shepherd, C. and Ridley, A., 2015.Company Law. Routledge. Vasudev, P.M. and Watson, S. eds., 2012.Corporate governance after the financial crisis. Edward Elgar Publishing.

The Escape Analysis Essay Example

The Escape Analysis Paper Analysis of the story â€Å"The Escape† by Somerset Maugham. Sometimes men cannot say â€Å"No† to women, although they want it, and that’s why they have to make up some situations to make women say them â€Å"No†. The short story â€Å"The Escape† written by Somerset Maugham is exactly about this case, about the conflict between man and woman, and this escape is the main theme of the text. The idea of the story is that one should put on his thinking and act very carefully, as sometimes procrastination can give better results than haste. The message of the story is that a woman can be sly and scheming, but a man can make it his way also. This story makes the reader think about life and relationships and it is not surprising, because S. Maugham became known as a master of human soul, a wise man who not only knows how to depict, the hypocrisy and brutality of bourgeois society, but also has the ability to portray different characters in clear and natural Manner. The text â€Å"The Escape† under consideration begins with a key sentence which contains the whole content of the story in the folded form. We will write a custom essay sample on The Escape Analysis specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Escape Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Escape Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Maugham writes about the relationship between Roger Charing and Ruth Barlow. Roger’s friend describes everything, whose name we don’t know. Roger Charing is a young man, who has a lot of money. And he falls in love with Ruth Barlow – an unhappy woman, who was twice a widow. They were happy together and they decided to marry. Then suddenly Roger fell out of love with Ruth, and he found the way, how to make Ruth release him. He told her that they would marry, when they would find the perfect house for both of them. However time passed away and Roger rejected all the orders of the agents offering a new house. At last Ruth lost her patience and left Roger herself. The title of the text is one word that consist the definite article ‘the’ and the noun ‘escape’. The definite article ‘the’ is here not accidentally – it claims that text is about exactly this escape and not any in the world. The story begins with the narrator’s introduction of the problem that if a woman wants to marry a man, it’s a man’s hazard and he has to find the way out of the situation. This is the exposition of the story. The exposition is written in the ironic tone. Such epithets as instant flight, inevitable loom, the narrator’s note â€Å"with a tooth brush for all his luggage, so conscious was he of his danger and the necessity for immediate action† make this effect. Then comes the inciting moment, in which both Roger Charing and Ruth Barlow are introduced. It is said that Ruth was twice a widow and it is said ironic, because the reader can think that Roger is the next victim, through the simile â€Å"He went down like a row of ninepins†. He also gives a direct description of Ruth’s eyes using the epithets â€Å"splendid†, â€Å"moving†, â€Å"big and lovely†, a detached epithet â€Å"poor dear† – all in the ironic way. The modal verb must, exclamatory sentence, parallel constructions â€Å"if she married a husband beat her, if she employed a broker he cheated her, if she engaged a cook she drank†, the allusion â€Å"She never had a little lamb but it was sure to die† make a humorous effect. We can recognize now completely that all the narrator’s words were ironic, because his epithets towards Ruth are like that, and also â€Å"stupid† and a simile â€Å"as hard as nails†. Then there comes an explanation of why he has such an attitude towards the poor widow. Going further, we come across an anticlimax. The tense is growing, but then Roger â€Å"on a sudden, fell out of love†. This is a bit unexpected. Ruth’s â€Å"pathetic (a repeated epithet) look ceased to wring Roger’s heart-strings† (a metaphor). But Roger â€Å"swore a solemn oath† (a metaphor) not to jilt Ruth, moreover, she was able to â€Å"assess her wounded feelings at an immoderately high figure† (an extended metaphor). And here begins the real climax with its growing tense. The author uses repetitions â€Å"they†¦ they†, â€Å"sometimes†¦ sometimes†, â€Å"they looked, they inspected, they climbed†. After the main heroes’ reasoning in direct speech, their proceeded searching for a house looks like a repetition, too. Yet, the author uses an antonomasia here, calling Roger an angel, though we know he is not – an irony. Their further reasoning in the direct speech appears to be the climax: â€Å"do you want to marry me or do you not? † Roger kept standing on his position epithets â€Å"assiduous and gallant†. Their letters are resolution of the text.

Compare and contrast the ways in which the writers of The Tempest and Translations have dramatically presented the links between language and power Essay Example

Compare and contrast the ways in which the writers of The Tempest and Translations have dramatically presented the links between language and power Essay Example Compare and contrast the ways in which the writers of The Tempest and Translations have dramatically presented the links between language and power Essay Compare and contrast the ways in which the writers of The Tempest and Translations have dramatically presented the links between language and power Essay Essay Topic: A Long Way Gone Girl in Translation Hilarious Medea Metamorphoses Mythologies The Secret Life Of Bees The Tempest A2 English Literature Holiday Homework Assignment: for Mr Majewski: The Tempest by William Shakespeare and Translations by Brian Friel Compare and contrast the ways in which the writers of The Tempest and Translations have dramatically presented the links between language and power. The modern linguist Norman Fairclough said, Language is power, implying that if you want to control a person or people, an event or series of events, or indeed the entire world, and have power over it or them, you must first control language. Controlling language is the key to both the initial act of gaining power, and then maintaining that power. We find examples of this throughout The Tempest and Translations, which share common themes and elements. To tackle a question which requires suggesting how the writers link language and power, it is necessary to look at the plays in just such a thematic way. The first and most obvious area in The Tempest where language is linked with power is the way in which prose and verse is used by different characters to different effect. Most notably, and especially for its irony, Calibans use of verse when Stephano and Trinculo talk in prose reverts the old ideas of rank, whereby people of higher status, (here supposedly the Kings butler and the jester) spoke in verse, and lower classes (the uncivilised Caliban) spoke in prose. Style shift refers to a method of speaking where a person changes their accent or mode of speech depending on whom they are speaking to and how they wish to be perceived by that other person. Consider: STEPHANO Mooncalf, speak once in thy life, if thou beest a good mooncalf. CALIBAN How does thy honour? Let me lick thy shoe. Ill not serve him; he is not valiant. TRINCULO Thou liest, most ignorant monster! I am in case to justle a constable This may well be a statement by Shakespeare that Caliban is not as sa(l)vage as he seems, and indeed, there are other indicators of this in the play, for example, the goodly old man Gonzalos speech in II.1.150-173 echoing de Montaignes essay Of Canibals, especially the Florio translation of 1603. It is probable Shakespeare read this essay, which essentially decries colonialism, and there is a copy of the essay in the British Museum, which appears to have his signature on it. The point of this is that Shakespeare, despite popular opinion that Caliban is the inferior of the trio, gives Caliban power over his superiors through language, and not only that, but power which is clear for any reader to see, sowing the seeds of our suspicions of Stephano and Trinculo the lesser of the three. They are finally confirmed as such in their drunken activities of IV.1, and their ignoring Calibans warnings of: What do you mean To dote thus on luggage? Lett alone, And do the murder first. If he awake, From toe to crown hell fill our skins with pinches, Make us strange stuff. (ll.230-234) As we know, Caliban is proved right, and all three suffer the consequences of their actions in their plot again Prospero. Also in The Tempest, Prospero illustrates his power over Caliban in teaching him how to speak. This once again brings in the idea of colonialism, a theme found in both plays, and one of great significance, because the colonised were often educated or civilised by being taught the colonisers language. We witness this in both plays. In The Tempest, Caliban intelligently recognises the damage being taught Italian has done to him; he says, The red plague rid you | For learning me your language! (I.2.364-5) However, Caliban uses the language he does have as a weapon against Prospero, to hurl insults at him; again, he says You taught me language, and my profit ont | Is, I know how to curse. (I.1.363-4). It is in this way that Caliban tries to regain some power over Prospero through the use of language. In Translations, Manus is the main voice of dissent against the English. In II.1, Manus purposefully talks to Yolland in Irish, when he knows English, in order to exert his authority or a power over him, and illustrate his resistance to the changes which are taking places courtesy of His Majestys government (I.1). Knowing Irish or rather knowing English but not using it is Manus weapon against the English, in the same way that Caliban swearing is his weapon against Prospero. And again, Manus intelligently recognises the damage which is being done to his country and his people through the colonisation, and that soon they will be subjects; but the difference here is that, some 300 years after Shakespeare was writing, Yolland too is able to recognise that Something is being eroded (II.2). Nevertheless, in the time Translations was set (early 1800s), British colonisation and the British Empire were still the pride of the country, as they were beginning to be in Shakespeares day, and were set to remain so for at least another 100 years. It is this that makes Shakespeares quiet, almost hidden voice of disapproval over colonialism through Caliban and Gonzalo dangerous, especially since The Tempest was shown before James Is court. Manus open voice of disapproval is also dangerous; for the English, it casts suspicion on him and implicates him in a crime at the end of the play in which he had no part. Unlike Shakespeare, and thankfully for Friel first publishing in 1981, the power of his characters disapproval through language could remain overt. Moving on, names are very important both in The Tempest and Translations in order to express power. The name Prospero, for example, comes from the Latin verb prosper meaning, to cause to succeed, while the suffix o is the pronoun I. This is a fitting name and since Prospero is the all-powerful wizard of the play, it is appropriate that his name should translate to I cause to succeed. In fact, not only he succeeds in his goal of regaining his dukedom, but also his daughter and Ferdinand succeed in their goal of marriage. Miranda means admired or to be wondered at, thus, on telling Ferdinand her name, he exclaims Admired Miranda! have connotations for the bearer and degrees of power appropriate to the language of their names. In Translations, names are patronymic, that is, characters are called their first name, then the name of their father, for example Doalty Dan Doaltys middle name is his fathers name, and his last name (the same as his first name) is that of his grandfather. The etymology of the name Manus is thought to be Magnus, meaning big, great, hand; Manus is after all his father Hughs right-hand man. Ironically, Manus is not as big or great as he would like; he consistently wishes to take over his fathers classes and get a better job. In this case then, Manus name is not empowering, but rather, making an ironic statement, much like Calibans name (so we have another comparison between the pair here!). Doalty means, I deny, oppose, refuse and renounce! This is a very powerful name and is suitable to Doaltys character; though his resistance to the English is mainly harmless and passive in the first act, and he does not appear in the second, the third act illustrates just how much knowledge has given Doalty power; his friendship with the Doalty twins implicates him in their illegal activities and makes him, like his name, deny, oppose, refuse and renounce the English. Captain Lanceys name and actions, especially in Act Three, reminds us of the powerful lance, a weapon of war and an instrument of death; while the peaceful and endearing Lieutenant Yolland is a combination of old and land, since he loves Ireland, and Yola, the name of the first wave of English settlers in Ireland, who, appropriately, gradually merged with the Irish, adopting Irish language and customs as Yolland does. Indeed, Yolland, undoubtedly unknowingly, adopts through convergence patterns of speech which fit in more closely with those of Owens, Hughs and Maires, seeking to show solidarity and gain approval in his dealings with these others whom he looks up to. For example, he preserves the Irish place names, and in order to woo Maire speaks the Irish place names which he loves and has learnt off by heart. However, when Yolland tries to do this to Manus, it backfires, as he perceives it as patronising (II.1). Lancey retains his authority exactly through opposing this, by emphasi sing the difference between himself and the community. It is this which gives him power. In Act Three for example, he makes Owen translate the Irish place names into English. This is known as maintenance. Both convergence and maintenance are aspects of socio-linguistics which refer to the identify the use of a name affords a place or a person. In addition to this, Lancey and Yolland show us how symmetrical and a-symmetrical systems of address or introductions occur. For example, in I.1., Captain Lancey is introduced as such to make the characters feel his authority, but then addressed by Yolland as George to illustrate the degree of familiarity between the pair. This has wider connotations with perception of social rank and stature for all the characters Im sure they couldnt fail to feel their inferiority, both to a captain, and to a lieutenant who is able to call a captain George. Owens name is perhaps the most important because it gets so confused by the English. Manus exclaims in Act One They call you Roland! They both call you Roland! And Owen, echoing Juliets That which we call a rose, | By any other name would smell as sweet (Romeo and Juliet II.2.) replies Its only a name. Its the same me isnt it? Well, isnt it? At first, even Manus agrees Indeed it is. Its the same Owen but by II.1, just a few days later, and during a process in the play through which Owen changes to become more pro-Irish and anti-English than he was before, he decides that his name is important and explodes at Yolland, demanding to be called by his proper name. Though they both find this absurd at the time and laugh hilariously (an effect of the poteen), implicit in their reaction is a mocking of the name book thereafter, a clear lack of respect for their work, and a cessation of viewing it as important or even necessary. This shows the power of language; it has the ability to change meaning and identities through something seemingly as simple as a name, things which have great effect both on individual and place. The fact remains that renaming the Irish people and places on the part of the English is a powerful resource for a dominant group which wishes to dominate and marginalize their inferiors. This is also a demonstration in the play of multi-faceted identity. Owen faces a crisis of identity when he realise his role in destroying the identity of Baile Baeg (incidentally, this means little home), and wishes to change it. This shift is, again, displayed through the language he uses, and the way he is so much more disrespectful to Lancey at the end of the play than at the start. Though this is all very well, we have no way of actually knowing if the characters know themselves what their names mean; Prospero almost certainly does, because of his vast knowledge and reading, and Manus, Hugh, and Jimmy Jack Cassey or the Infant Prodigy have such a good awareness of Greek and Latin that they almost certainly do as well. This may empower them more than a character like Lancey who may make no connections between his power over the Irish and his name. Additionally, naming and naming practises are a recurrent theme especially in Translations, showing how loss of language is powerful and can be viewed as loss of cultural identity. This has wider implications for social (the marriages), ethical (are Lancey/Prospero justified in their actions at the end of the plays?), political (who is truly Lord over the lands?) and national identities. The writers of The Tempest and Translations also present links between language and power through speeches and rhetoric in the plays. These give power to the speaker through their audiences attention to their words or language. Take the example of Prosperos many speeches in The Tempest. He clearly has a way with words, having, as Miranda puts it, a tale that would cure deafness (I.1.106). Becoming a demagogue means not only that people listen to you when you speak, because of your authority, but also that they actively seek out opportunities of listening to you, and are enraptured when they do. Interestingly though, Prosperos longest speech is a soliloquy in V.1. where he borrows Goldings 1567 translation of the sorceress Medeas speech in the 7th book of Ovids Metamorphoses (particularly lines 265-77). This is even more interesting because it is here, in this speech, that Shakespeare reveals the limitations of his power; that his magic is of the rough variety (I.1.50). This has been hinted at before when we learn that Prospero had to wait for the influences of A most auspicious star (I.1.182) in order to be able to draw the court to the Island and have them under his influences. The non-repentance of Antonio, Sebastian, Stephano and Trinculo also all measure the extent of Prosperos power. While he is able to drive them to distraction, he is unable to make them repent form their sins; he does not truly forgive his brother when he says I do forgive | Thy rankest fault all of them (V.1.131-2), but simply ignores his actions because he cannot do anything about it. Antonio has not changed and Prospero knows it. Given a second chance his brother would do the same. As C. S. Lewis puts it in The Problem of Pain (Chapter VIII: Hell; page 97; published Fount 1968): To condone an evil is simply to ignore it, as if it were true. But forgiveness needs to be accepted as well as offered if it is to be complete: and a man who admits no guilt can accept no forgiveness. In this way, Antonio cannot be forgiven, even if Prospero truly wanted to. Here then is Prosperos failure. It is the point at which his art stops short (The New Penguin Shakespeare, Introduction, p.29, by T. J. B. Spencer), and language is powerless to help him. The point of all this is that his name, which empowers him, his language, which empowers him, and all else, is not the ultimate source of his power; his magic is; and because it is limited, so he is limited. Here then, the writer of The Tempest has presented the links between language and power, but has weakened them through he involvement of another force magic. Importantly though, it is only through language that we learn the involvement of this greater force, and its restrictions. However, it is significant that this is revealed to us in a speech which no one else can hear. It is as if he is keeping it a secret; if no one else knows, or hears, it cannot be generally known. Therefore, he ironically retains the full extent of his power, though admitting its weaknesses, exactly because he chooses to deliver it in a subtle and discrete way in the language he uses, and at a time where no one will remember. He almost slips it in where no one will notice, not even readers who read and re-read The Tempest again and again. The great demagogue in Translations is Hugh. We know he is important even before he enters because the other characters speak about him so much; no fewer than 11 times in effect. His speeches serve a rather different purpose to Prosperos; Hughs speeches, which are altogether shorter, serve as the philosophising force behind the play. Examples include him discussing the nature of Irish: [to Yolland] Youll find, sir, that certain cultures expend on their vocabularies and syntax acquisitive energies and ostentations entirely lacking in their material lives. I suppose you could call us a spiritual people. And again; it us a rich language, lieutenant, full of the mythologies of fantasy and hope and self-deception a syntax opulent with tomorrows. It is our response to mud cabins and a diet of potatoes; our only method of replying to inevitabilities. (Both II.1.) Friel is not original in his ideas however. Irish novelist James Joyce presents similar ideas to Hugh in A Portrait of the Artist as a Young Man (1916), where the main character, Stephen Dedalus, thinks about how English has replaced Irish in Ireland, but of how the Irish people and writers have learned to master it. Many other Irish literati have taken this theme also in fact, Nobel prize-winning poet Seamus Heaney wrote a poem where he meets the ghost of James Joyce who advises him on art and language (Station Island part XII, pub. Faber Faber, 1984). Clearly then, language for the Irish is a national preoccupation; and it is these cultural-linguistic aspects of language that involve Hugh. The sense he speaks gives him the authority power to be listened to and respected by Yolland, even if he is not completely understood. This is quite an evident link between language and power for Friel, and for us. Eventually, everybody but Lancey realises that by changing the place names from English to Irish and we have already shown how names are so important, because of their meanings they are losing their identities and histories. Yolland insists on Tobair Vree retaining its name, even though indeed, because Owen still knows the story behind it and how it got its name. Following on from the power afforded language through speeches, power is also afforded the speaker through language when they use persuasive discourse. The clearest example of this is the difference between Ariel and Caliban in The Tempest. These two characters share the common interest of their freedom but go about trying to get it in different ways. Most notably, Ariel is sycophantic to Prospero, trying to win his freedom by using subtly persuasive language. For example: All hail, great master! Grave hail, sir! I come To answer thy best pleasure, bet to fly, To swim, to dive in the fire, to ride On curled clouds. To thy strong bidding task Ariel and all his quality. (I.2.189-194) This gains him/her a lot. It makes him/her Prosperos bird, sweet thing and brave spirit, and gets him/her the promise from him that: Do [thy spriting gently] and after two days but from actions, admittedly; but the actions towards Caliban, such as locking him in a rock (I.2.343 ; 361), or making him gather wood in the desert (I.2.366), come from thoughts vocalized in language, used against him. The love scenes in The Tempest and Translations present another type of power through language emotional power. In The Tempest, the love scene is between Miranda and Ferdinand in III.1.. In Translations, the love scene occurs between Maire and Yolland in II.2., and there are some obvious parallels between it and The Tempest. Most obviously perhaps, they are both meetings of two different people from two different cultures. In The Tempest, though Miranda and Ferdinand have no barrier of language such as there is in Translations, because of their shared Italian heritage, they are still from different cultures. Miranda has been brought up in solitude on an island away from all civilisation apart from her father. It has to be explained to her by her father that Ferdinand is not a spirit (I.2.412-7). Meanwhile, the not only civilised but also sophisticated court has surrounded Ferdinand all his life. Despite this he still considers Miranda as the most beautiful and virtuous creature he has ever met. His language bears this out, and has the power to make Miranda fall in love with him Full many a lady I have eyed with best regard, and may a time Thharmony of their tongues hath into bondage Brought my too diligent ear But you, O you, So perfect and so peerless, are created Of every creatures best. (III.1.39-42 ; 46-8) However, language is again not the only power that is at work, and magic contributes as well as language to make Ferdinand and Miranda fall in love Prospero confesses to us that It goes on, I see, | As my soul prompts it. (I.2.420-1) In Translations meanwhile the discrepancies between the cultures of Maire and Yolland are even huger one from the civilised and sophisticated Britain, in a professional job for a decent wage, and the other a poor peasant girl speaking a backward language. In both of these cases though, this difference in their culture only unifies the two people more overcoming their differences is something of the power of their love. The second obvious similarity here is that of their profession of love. Compare Yollands I could tell you how I spend my days either thinking of you or gazing up at your house in the hope that youll appear even for a second to Ferdinands reply to Mirandas now farewell of Maires are particularly powerful because Yolland does not understand them. Indeed, ironically, and sadly since it gives us a hint of the tragic parting that is to come in the Third Act of the play, Maire wants a different thing to Yolland she wishes to go away with him, to England, or to anywhere. Yolland meanwhile wishes to live here, or stay put in Ireland. The power of their language for us as an audience is clear; except, despite that in both plays there are disapproving parties (Lancey, Manus and the Donnelly twins in Translations, and Prospero (supposedly) in The Tempest), the final effect in Translations is for worse, with death, heartbreak and destruction, whereas in The Tempest, it ends in a marriage, and thus becomes at once lighter. Power through language has various effects then, especially in this emotional power context. In Translations, there is a great deal of exploitation of language through translation. The translator is powerful because they have control, and the opportunity, whether used maliciously or otherwise, to change the meaning of the word or speech that they are translating through language. Friel makes quite an unconcealed link between power and language through this in Translations. The clearest example is Owens translation of Lanceys introduction in Act One. He visibly does not translate what Lancey says, sweetening his words so as to not worry the village-people and make the English operation seem more legitimate. Thus: LANCEY [The job is being done] so that the entire basis of land valuation can be reassessed for the purposes of more equitable taxation. OWEN This new map will take the place of the estate-agents map so that from now on you will know exactly what is yours in law. And the disagreement between Manus and his brother that: MANUS You werent saying what Lancey was saying! OWEN Uncertainty in meaning is incipient poetry who said that? MANUS There was nothing uncertain about what Lancey was said: its a bloody military operation, Owen! Finally, it is necessary to discuss the different forms of language and how the playwrights have used them to illustrate dramatically the links between language and power. The sociolinguistic aspects of language have already been mentioned when the importance of names in presenting links between language and power was discussed, so we need not go into any more detail of that here. Language, Society and Power (ed. Thomas and Wavering) suggests 5 main aspects of language excluding socio-linguistics. The first aspect is cultural-linguistics. This refers to the aspects of language which are cultural, such as names of places which are specific, and certain turns of phrase which would not be found elsewhere. In Act three, Hugh wisely recapitulates that: It is not the literal past, the facts of history, that shape us, but the images of the past embodied in language We must never cease renewing those images; because once we do, we fossilise. Though seeming to advocate the actions of the English here, Hugh is actually just confirming that every culture will have a different language because they have different pasts, and the past is captured in language. He explains why language has power in every culture because it makes the culture evolve it is the images of the past embodied in language that shape us and stop us from fossilising. Also, the person controlling the language, controls the culture, and thus the people, and the history as well and that is a lot of power! In The Tempest, Prospero too involves himself in the cultural linguistic aspects of language when he teaches Caliban his language. Though this may be excusable because a noble-man of those times would have known no better than that their language was superior, he is never the less, by stripping Caliban of his own language which has its own meanings and past, stripping him of his identity; and here then is his power. Perhaps he would agree that We must never cease renewing those images; because once we do, we fossilise. Perhaps the question here needs to be, what is wrong with fossilising? The second aspect is aesthetics. In Translations, the Infant Prodigy is the character most interested in the aesthetics of language, or how language sounds, and the beauty of language. He is not interested in language as a form of communication, and is therefore not really interested in the Anglicisation going on around him. It will not affect him because he probably will not be around long enough to see it! This is a type of power and he is completely untroubled and unsuspecting at all time, because he appreciates language for what it is, as a poetry, rather than as a weapon in the way Manus or Lancey is using it. Yolland is the other character in Translations who loves the poetry of the language, except he prefers Irish to Greek and Latin. In II.1. he repeats the Irish places after Owen, allowing their sound to wash over him like a yogic mantra. This empowers him to speak with Maire and gives them common ground during the love-scene. In The Tempest, it is the spirits who most clearly use language for its beauty and its sound. Apart from Ariels common speech, the masque (IV.1.) is an amazing example of saying nothing in endless sentences and making it sound pretty (F. R. Leavis commentary on Henry James comes to mind)! Essentially, the plot of the masque is very simple but it is drawn out to show off special effects and elaborate costumes which were the delight of the court in James Is time. The New Penguin Shakespeare Commentary on The Tempest (p.167) explains: The verse of the masque is set off from the that of the play proper by its formality and deliberate artifice. It is filled with archaic or uncommon words and invokes a deliberately unreal, remote, mythological world [much like Jimmy Jack]. At the same time, it contrives to admit glimpses of a genuine English countryside [just as Jimmy compares ancient Greek goddesses to the Irish parish girls], and to maintain a delicate balance between those ideas of warmth and increase appropriate to a betrothal ceremony. The third aspect is communication. Language is the most important element in communication, not only what we say, but how we say it, in what tone of voice and what context. In Translations, Sarah embodies communication. After learning to speak when manus was there, she knows that language wont come back to her once hes gone because the lines of communication between the English and the Irish have broken down. This is shown most clearly in Act Three. Owen tries to persuade her otherwise but Sarah is quite accepting and shakes her head, slowly, emphatically, and smiles at Owen. The she leaves. (Stage directions). Being not able to speak is in some ways even more powerful than being able to speak. Precisely because Sarah is so quiet we notice her by her absence; she is conspicuous by her silent presence. It is a powerful symbol that communication should be silent for most of the time. Interestingly, Sarah is dominated by everyone in the play, Manus, Owen, and then Lancey who is very dem anding of her. In The Tempest, there is more than one example of broken communication; between Caliban and Prospero/Miranda, and Prospero and Antonio. The hostilities between these characters are clear throughout the play and illustrate the power of hate and jealousy. It isolates Caliban and turns his frustrations outwards to plotting against Prospero, and it makes Sebastian plot against his own brother in the same way Antonio did against his. This is expressed through language and action: Prospero says of Caliban that he is: A devil, a born devil, on whose nature Nurture can never stick; on whom my pains, Humanely taken, all, all lost, quite lost. And as with age his body uglier grows, So his mind cankers. I will plague them all Even to roaring. (IV.1.189-193) The fourth aspect is non-verbal communication (NVC), opposed to linguistic communication as above. Often, body language can show us things that speech hides, and can give off contrary signals, and what cant be done through language can be done through physical appearance and action. Both Friel and Shakespeare keep tight reigns on their characters movements through stage directions. Friel describes his characters through from what they wear, to how old they are, what type of hair they have, what their characters are, as well as foibles such as reacts physically when embarrassed or pleased [referring to Doalty]. Yolland and Maire present the clearest example of NVC in II.2. where they cannot speak each others language and therefore must rely on their actions. Here, the author has the power through language to make his characters whatever he wills. The Tempest meanwhile is Shakespeares most heavily directed play, perhaps because it was first in the Folio of 1623 and needed to give a good impression to someone picking up a book. The New Penguin Shakespeare Account of the Text (p.179) confirms: The result, neatly and intelligently divided into Acts and scenes, equipped list with a of characters and meticulously punctuated throughout, stands as perhaps the cleanest of Shakespeares texts. The fifth and final aspect is miscommunication, or the potential for it. In Translations, Owen clearly mistranslates Lanceys speech at the end of Act One, so that the people (except those who understand English such as Manus and Hugh) are unaware that the English are performing a bloody military operation. This reinforces the power he yields through his use of language. In II.2., Maire thinks she may have said something rude when Yollands reaction to her perfect recitation of In Norfolk we be sport ourselves around the Maypole is shock, and this shows the power language has when we use it and do not know what we are saying. It also shows the importance of audience; much of what we say, no matter our intentions, is perceived differently than how we anticipated. And finally, there is a potential for miscommunication in changing the place names so that they loose their meaning. In The Tempest meanwhile, there is miscommunication in the comical scene in III.2 when an invisible Ariel enters and causes havoc for poor Trinculo who is accused of reproaching Caliban for lying when really it is not him at all! Enter Ariel, invisible CALIBAN As I told thee before, I am subject to a tyrant, a sorcerer, that by his cunning hath cheated me of the island. ARIEL Thou liest. CALIBAN (to Trinculo) Thou liest, thou jesting monkey, thou I would my valiant master would destroy thee! I do not lie. STEPHANO Trinculo, if you trouble him anymore ins tale, by this hand, I will supplant some of your teeth. TRINCULO Why, I said nothing. (III.3.41-50) This is particularly good for a demonstration of language and power because this misunderstanding, though disguised because of humour, shows how violent Stephano can get towards one of his best friends, threatening first to hang him from the next tree (l.36), then later to knock out his teeth (using, appropriately, the word supplant, like he wished to overtake the island), and then, later still, threatens to cut him open (l.70) and then he actually hits him (l.77). There are many ways in which the writers of The Tempest and Translations have dramatically presented the links between language and power; through use of prose and verse by different characters, through education and colonisation, through use of names and renaming, through speeches and rhetoric, through persuasive language and through love scenes, through translation and through the six different forms of language. All these just begin to show the varied and skilled ways in which William Shakespeare and Brian Friel, in their own ages and in their different plays, share common elements and themes which make their works comparable in just such a thematic way.

Support Immigrants are the Best Way to Strengthen a Country Essay

Support Immigrants are the Best Way to Strengthen a Country - Essay Example The entrepreneurial activities are always important due to the taxation levied on such businesses by the government (Fleegler, 32). Big entrepreneurial ventures always give the government large amounts of money through taxation. This is important in strengthening the country in many ways. The government can always use such money collected from taxation to pay its laborers. This leads to a very strong nation. In addition, the entrepreneurial activities also contribute greatly towards strengthening of the economy of a nation. It is of crucial significance to note that entrepreneurial ventures initiated by the immigrants always create job opportunities to a large number of populations in the country. This is important in strengthening the economy of such a nation. This makes the government become strong. In addition, the government also taxes the employees thereby contributing to the government’s economic growth, thus strengthening the nation.It is of crucial significance to note that most immigrants contribute to several key government sectors involving technological sector, industrial as well as infrastructure. This leads to strengthening of the government. Most immigrants are always very innovative and inventive (Fleegler, 37). As such, they always come up with several technologies that aid in ensuring effective and efficient sectoral operations. It is important to note that the role of technology in ensuring a strong government is inevitable. One of the major causes behind such exploitation of professional influence.

Regulatory Frameworks of the Equity Markets of Australia and the USA Essay

Regulatory Frameworks of the Equity Markets of Australia and the USA - Essay Example The structure of organized exchanges and the trading policies imposed by regulatory bodies continue to influence the turnover of physical shares, price formation of equities and trading costs, while generally exerting pressure on the behavior of market participants and the overall competitiveness of securities markets. This report will discuss the structures and regulatory frameworks of the equity markets of Australia and the United States of America. As a reference point, the major exchanges in both countries will be compared, where the NYSE is used as the benchmark for the exchange activities of ASX and Nasdaq. Also, the report will include a rundown of equity-funding alternatives for a listed US corporation, as required. The equity market of Australia is operated largely by its organized stock exchange, the Australian Stock Exchange (ASX). Trade of ASX stocks takes place on a fully competitive and automated order-driven trading system, known as the Stock Exchange Automated Trading System (SEATS) (Elvis Jarnecic, June 1999). Trading is facilitated through the placement of a purchase order by a market participant with a broker, either by way of telephone or online through the internet, on regular trading days. In contrast, the New York Stock Exchange or NYSE operates under a hybrid market structure. Kaj Hedvall (CEFA, 2006) defines hybrid markets as a specialists market and the NYSE as an order-driven, floor-based, continuous market with specialists. Also known as an auction market; these specialists converge on the floor of NYSE to facilitate the reporting of bids and asks, execute the trade and maintain order on the floor.   NASDAQ, on the other hand, is a quote-driven, dealer market. At present, there are over 500 dealers-also called market-makers, composed of large investment companies, who buys and sells shares of stocks through a personal inventory of NASDAQ-listed stocks to earn a profit from a regulated bid/ask spread.   NASDAQ is the largest scree n-based market in the United States. Screen-based means that there is no physical location, but trading is based on computers and other communication mediums (Block, S et al, 2002). Thus, NASDAQ market makers conduct the exchange not through a physical trading floor, but by way of an electronic network. While each security under Nasdaq has an average of 14 market makers competing against each other, only one specialist is designated to every NYSE-listed stock. It can be observed that Australia operates a purely order-driven market while the major exchanges of the USA, conduct trading in a purely quote-driven market for NASDAQ and a cross between the two pure market models, the hybrid market, a structure of the NYSE.   The advantage of an order-driven market is the inherent transparency of the system since all buy and sell orders of participants are posted on the market, providing information on which prices investors are willing to buy or sell shares. This is not an attribute of a quote-driven market where only the bid and ask offers of market makers are displayed.

Citibank Budgeting Essay Example for Free

Citibank Budgeting Essay 1. Analysis of Budget Process at Citibank Direction and control of Citibank’s international branches are conducted via two formal management processes. Each year, top management sets sovereign risk limits for its independent branches based on proposals by country managers. Country managers may choose to operate with self-imposed limits below this upper guideline. Following, there is the budget setting process, where headquarters only provides administrative guidelines but not specific targets, with operating managers being responsible for budgets for the following year. Indonesia often set their targets above these long-term goals. Performance is measured and compared against the budget each month, and a new forecast, which will be reviewed by the division manager, is drawn up each quarter for the remainder of the year. This structure of bottom-up budgeting is appropriate for a decentralized firm like Citibank. This is evident from the freedom Mr Mistri has over Indonesia’s operations and the different business segments and divisions, as shown in Exhibit 2 3. Such a participative process is likely to increase management commitment to achieve the targets since country managers are responsible for influencing their own targets. More importantly, country managers know the local business environment and culture better than group managers, therefore their targets are likely to be more accurate and realistic. Furthermore, bottom-up budgeting is a form of action control while the frequent reviews of the budgets serves as preaction review. Both facilitate information sharing within the organisation, with long-term strategic goals of the firm being communicated downwards and local business potentials and risks conveyed upwards via the budgets and forecasts. They also encourage managers to think further ahead about what they want to achieve in the near future. However, Citibank’s budgeting process appears to have an imbalanced focus with most of the emphasis placed only on financial measures. Although these measures can be easily obtained and are inexpensive because they are by-products of the accounting system, it does not fully represent all aspects of the organization’s strategies and goals. Instead, the budget could be restructured to include other non-financial aspects such as customer satisfaction and employee morale to obtain a balance, which will be vital towards the long term success of Citibank. None of Citibank’s budget items extend beyond the next year; instead there is an emphasis on a fixed short horizon. This can result in managers developing a myopic focus instead of measuring the fulfilment of Citibank’s long-term goals or the local government’s societal expectations. Myopia is aggravated by the monthly performance reviews which reveals the focus on short term goals. Citibank should look at its budget with a longer horizon. Moreover, the budgeting process in Citibank appears to be tedious and too time-consuming. The requirement for operating managers to conduct discussions and forecast all the line items shown on the submission form seems to take up significant time and effort. Such a process could be costly for the firm in terms of opportunity costs related to unnecessary time and resources spent. The benefits of such a tedious budgeting process must be high enough to justify the related costs. Also, there seems to be no connection and a mismatch between the two management processes. It is only reasonable that these two processes should go hand in hand as higher returns may only be possible with a higher risk appetite. However, increase in profit goals is not matched by an increase in risk tolerance (sovereign risk limit). Moreover, sovereign risk limits is set yearly but not adjusted when budgets are revised each quarter. Citibank should consider allowing country/division managers to adjust risk limits to match any revisions in budgets during the year. Use of the Budget for Performance Evaluation of Managers Performance is monitored every month against budgets, and incentive compensation for managers were linked to budget-related performance. Incentive compensation could range up to approximately 70% of base salary although awards of 30-35% were more typical. Assignment of bonuses were based approximately 30% on corporate performance and 70% on individual performance, primarily performance related to forecast. This emphasizes results accountability as it involves rewarding the managers for generating good results that are aligned to the budgets. As such, it influences actions because it causes employees to be concerned about the consequences of the actions they take. However, the contradiction in this is that while these managers will not be constrained in what actions they can take to achieve their goals, they are also empowered to take whatever actions they believe will best produce these desired results. Hence, it is highly dependent on personnel controls with regards to the managers hired. Provided that budgets were adequately set with appropriately extent of goal difficulty, these budgets act as results controls and affects a manager’s motivation since the targets are linked to performance evaluations and compensation. Furthermore, it is beneficial that manager’s compensation is tied directly to both individual(70%) and corporate performance(30%), allowing a larger perspective to be considered. Differentiation of base earnings from extraordinary earnings for which managers are not held accountable for is in line with the controllability principle. This is vital because setting performance targets to attain for each measure allows the managers to assess their performance and also get rewarded, encouraging behaviors that lead to desired results. As such, this will promise manager rewards that provide the most powerful motivational effects in the most cost effective ways possible. However, performance evaluations based on budgeted information is backward looking (extrapolating past trends) while it is best that the evaluations be forward looking. It should be evaluated based on the future cash flow/profits that can be brought to the firm instead of historical performance to promote a higher performance in the future. Furthermore, as their compensation is tied to meeting targets, it might promote game-playing and politics. As for Citibank, their culture encourages aggressive mark-ups to budget with managers constantly setting challenging budgets. For Mr Mistri, he will feel the extra pressure since the aggressive targets can barely be met with the deteriorating conditions in Indonesia. In conclusion, the current budget and performance evaluation system, which is mainly bottom up with top down guidance, matches the decentralized structure of Citibank. Although there seems to be trade-offs and problems with Citibank’s current bottom up budgeting system, there is no perfect budget system to optimally serve all the different purposes of budgeting. What Citibank can do is to put in place measures to minimize some of these shortcomings. 2. Are managers at Citibank committed to achieving budget targets? Yes, managers are committed as a result of their freedom to set their own budgets subject to guidelines provided by top management. Mr Mistri can choose to operate with a self imposed sovereign risk limit which is lower than the one approved by the New York Headquarter if he thinks that the one set by the top management is too aggressive. The fact that he has control over this means that he will be less pressurised to set unrealistic goals or engage in budget slacks. These will garner higher commitment from managers since the budgets set are not restrictive and offer flexibility to managers according to the business conditions. The commitment to achieve targets is augmented as incentive compensation for managers is linked to budget-related performance. Thus they will work towards getting more incentives for themselves through surpassing the budgeted forecast. On the other hand, the amount of commitment may be limited by the constant revision of budgets each quarter. Managers may be less motivated to hit their budget target if they know that those targets can be revised lower in the next quarter if performance was unsatisfactory. In addition, the frequent changes may make managers unfocused and reduce their motivation to work towards the goals set. If so, are the budget targets too challenging? The targets may prove to be too challenging. This can be shown by the fact that although incentive compensation could range up to 70% of base salary, awards of 30-35% were more typical, implying that it may be difficult to surpass the budgeted levels. Furthermore, Mr Mistri felt that the increased profit goal by $500K to $1mil set by Mr Gibson is too much as the budget he submitted is already very aggressive, judging by the bleak short term outlook due to the decrease in oil prices. This is supported by the self-imposed sovereign risk limit that Mr Mistri is operating at in order to minimise his exposure which will reduce the likelihood of the firm achieving higher returns due to the lower risk. We also doubt the achievability of the budget set. Though the forecasts and budgets are set by the operating managers themselves, we have to take into consideration Citibank’s risk-taking culture. While challenging targets induce motivation, the aggressive year-on-year increase in targets might prove to be detrimental to the achievement of the firm’s strategic objectives. Firstly, this is especially so when targets are not adjusted in times of bad macroeconomic conditions. With the incentive compensation for managers linked to budget-related performance, it seems that managers might be motivated to set unrealistic targets and employ excessively risky methods to accomplish them. Such a system would eventually serve to promote short-term gains at the expense of long-term losses for the organisation. In addition, the practice of comparing actual performance to budgeted amount monthly is too short termed and may render managers to become myopic. This may encourage managers to engage in gamesmanship such as earnings management, manipulating data to receive additional bonuses especially towards the end of a quarter. Is there any evidence of budget gaming? Yes, there is evidence of budget gaming. The main reason Mr Mistri used to justify his less than ideal budget (as compared to Mr Gibson’s) is likely to be false and there are unhealthy motivations for him to engage in such behaviour. Mr Mistri justified his budget by claiming that the Indonesian economy had slipped into a recession when oil prices decreased significantly. This is supported by the fact that Citibank’s Indonesian operations growth paralleled that of the Indonesian economy. However, evidence in Exhibit 4 suggests otherwise, revealing both the net and inflation-adjusted GDP of Indonesia to be increasing steadily over time. Even in 1983, GDP increased 5%. Moreover, a fall in oil prices will not necessarily lead to a recession. As such, Mr Mistri’s concerns are unlikely to be true and a simple check by the group managers would have allowed this to be uncovered. Moreover, even though Indonesia’s economy is highly dependent on oil prices, a fall in oil prices is also likely to affect Citibank’s other operations in different regions. The group managers will probably have considered this effect when setting the $4mil profit goal for South East Asia. In our opinion, Mr Mistri is likely to be acting as a Sandbagger. By presenting less ambitious budgets, there will be higher likelihood of positive variances in actual performance. Given that compensation is tied to budget-related performance, such gaming behavior will probably increase Mr Mistri’s bonuses and salary. Another motive for budget gaming could be to cover up the ongoing high staff turnover problem with the bad economic conditions. Mr Mistri just lost his chief of staff and two senior officers, and is concerned with constraints to growth due to his lack of experienced staff. This could in turn affect his bonus and salary. Since managers are not accountable for extraordinary earnings or losses at Citibank, by blaming the external economy (recession) for a less aggressive budget rather than on internal problems, his bonuses will not be affected. Furthermore, Mr Minstri has the freedom to operate at a sovereign risk limit lower than the group’s since country managers are given substantial autonomy in deciding their country’s budget and risk limits. He is likely to be able to get away with a less than optimal budget if his group manager trusts him. This way, his budget gaming behavior will escape the suspicions of Mr Gibson and other group/division managers.