Campbell Soup Case Essay

Synopsis The Campbell Soup Company has dominated the soup â€Å"industry† since the company developed a cost-effective method of producing condensed soup products in 1899. Throughout most of the twentieth century, Campbell was known as one of the most conservative companies in the United States. In 1980, Campbell startled the business world by selling debt securities for the first time and by embarking on a program to lengthen and diversify its historically â€Å"short† product line. Despite a sizable increase in revenues, the diversification program failed to improve Campbell’s profitability, which prompted the company’s executives to refocus their attention on their core business, namely, manufacturing and marketing soup products. Unfortunately, by the end of the twentieth century, the public’s interest in soup was waning. Faced with a shrinking market for its primary product, Campbell’s management team allegedly began using a series of questionable business practices and accounting gimmicks to prop up the company’s reported profits. A class-action lawsuit filed in early 2000 by disgruntled Campbell stockholders charged top company executives with misrepresenting Campbell’s operating results in the late 1990s. The principal allegation was that the executives had used a variety of methods to inflate the company’s revenues, gross margins, and profits during that time frame. Eventually, PricewaterhouseCoopers (PwC), Campbell’s independent audit firm, was named as a co-defendant in the case. The plaintiffs in the class-action lawsuit claimed that PwC had recklessly audited Campbell, which effectively allowed Campbell’s executives to continue their illicit schemes. This case examines the allegations filed against PwC by Campbell’s stockholders with the primary purpose of illustrating the audit objectives and procedures that can and should be applied to a client’s revenue and revenue-related accounts. The case also provides students with important insights on how the Private  Securities Litigation Reform Act of 1995 has affected auditors’ civil liability in lawsuits filed under the Securities and Exchange Act of 1934. Campbell Soup Company–Key Facts 1.During much of its history, Campbell Soup was known as one of the most conservative large companies in the U.S. economy. 2. Campbell’s conservative corporate culture abruptly changed in the 1980s when the company sold debt securities for the first time and embarked on an ambitious program to diversify and expand its product line. 3.In the late 1990s, after the diversification program had produced disappointing financial results and when market data indicated that the public’s interest in soup was waning, Campbell executives allegedly began using several illicit methods to meet Wall Street’s earnings targets for the company. 4.A class-action lawsuit filed in 2000 charged that Campbell had offered customers large, period-ending discounts to artificially inflate sales, accounted improperly for those discounts, recorded bogus sales, and failed to record appropriate reserves for anticipated sales returns. 5.PwC, Campbell’s audit firm, was named as a defendant in the class-action lawsuit and was charged with recklessly auditing Campbell’s financial statements. 6.Because the class-action lawsuit was filed under the Securities Exchange Act of 1934, the federal judge presiding over the case had to decide whether the allegations involving PwC satisfied the new â€Å"pleading standard† established by the Private Securities Litigation Reform Act of 1995. 7.The PSLRA’s pleading standard requires plaintiffs to plead or allege facts  suggesting that there is a â€Å"strong inference of scienter† on the part of a given defendant. 8.To satisfy the PSLRA pleading standard in the Third Circuit of the U.S. District Court in which the Campbell lawsuit was filed, a plaintiff, at a minimum, must allege that the given defendant acted with â€Å"recklessness.† 9.After reviewing PwC’s audit workpapers, the federal judge ruled that the plaintiffs had failed to satisfy the PSLRA pleading standard, which resulted in PwC being dismissed as a defendant in the case. 10.In February 2003, Campbell settled the class-action lawsuit by agreeing to pay the plaintiffs $35 million, although company executives denied any wrongdoing. Instructional Objectives 1.To demonstrate that even the largest and highest profile audit clients can pose significant audit risks. 2.To identify discretionary business practices and accounting â€Å"gimmicks† that can be used to distort a company’s reported operating results. 3.To identify audit procedures that should be applied to a client’s sales and sales-related accounts. 4.To examine the implications that the Private Securities Litigation Reform Act of 1995 has for the civil liability of independent auditors in lawsuits filed under the Securities Exchange Act of 1934. 5.To examine the concepts of recklessness and negligence in the context of auditors’ civil liability. Suggestions for Use The â€Å"high-risk† accounts that are the focus of this case are sales and sales-related accounts. This case focuses students’ attention on schemes that companies can use to enhance their reported operating results. These schemes involve both â€Å"discretionary† business practices and accounting gimmicks. Auditing textbooks generally ignore the fact that audit clients often manage or manipulate their reported profits by using discretionary business practices—such as delaying advertising or maintenance expenditures. This case requires students to address this possibility and consider the resulting audit implications. After discussing this case, I hope my students recognize that companies that use discretionary business practices to â€Å"rig† their profits are likely inclined to use accounting gimmicks for the same purpose. As an out-of-class assignment, you might ask students to find in the business press recent examples of companies that have attempted to manage their earnings without violating any accounting or financial reporting rules. Have students present these examples and then discuss them when addressing case question No. 1. I think you will find that students have very different opinions on whether it is ethical for public companies to â€Å"massage† their income statement data while complying with the technical requirements of GAAP. You might consider packaging this case with the Health Management, Inc., case (Case 1.4). The Health Management case provides a general discussion of the PSLRA. The Campbell Soup case contributes to students’ understanding of the PSLRA by examining in more depth the â€Å"pleading standard† established by that federal statute and the impact that standard has on lawsuits filed against auditors under the Securities Exchange Act of 1934. Suggested Solutions to Case Questions 1.Here are a few examples of discretionary business practices that corporate executives can use to influence their company’s revenues and/or expenses. ââ€" ºDeferring advertising, maintenance, or other discretionary expenditures until the following period. ââ€" ºSlowing down (or accelerating) work on long-term construction projects or contracts for which the percentage-of-completion accounting method is used to recognize revenue. ââ€" ºUsing economic incentives to stimulate sales near the end of an accounting period (a technique used by Campbell). Are the practices just listed â€Å"ethical†? Typically, students suggest that since these practices do not violate any laws, GAAP, or other â€Å"black and white† rules, the practices cannot be considered â€Å"unethical†Ã¢â‚¬â€a roundabout way of arguing that they are ethical. That general point-of-view seems consistent with the following comment that Judge Irenas made regarding Campbell’s period-ending â€Å"trade loading:† â€Å"There is nothing inherently improper in pressing for sales to be made earlier than in the normal course . . . there may be any number of legitimate reasons for attempting to achieve sales earlier.† For what it is worth, I believe that corporate executives who defer needed maintenance expenses or who postpone advertising programs that would likely produce sizable sales in future periods are not acting in the best interests of their stockholders. In other words, I do not believe such practices are proper or â€Å"ethical.† Likewise, corporate executives who take advantage of the inherent flexibility of the percentage-of-completion accounting method, ostensibly to serve their own economic interests, are not individuals who I would want serving as stewards of my investments. In my view, it is a little more difficult to characterize the â€Å"trade loading† practices of Campbell as unethical. Why? Because, allegedly, the company’s competitors were using the same practice. If Campbell chose not to offer large, period-ending discounts to their customers, the company would likely have lost sales to its competitors. [Note: Campbell’s CEO who resigned in 2000 announced in mid-1999 that his company was discontinuing trade loading.] 2. I would suggest that companies that use various â€Å"legitimate† business practices to â€Å"manage† their earnings are more prone to use illicit methods (accounting gimmicks, etc.) for the same purpose. As a result, auditors could reasonably consider such business practices as a â€Å"red flag† that mandates more extensive and/or rigorous audit tests. [Note: Professional auditing standards suggest that corporate executives who place excessive emphasis on achieving earnings forecasts may be prone to misrepresenting  their company’s financial statement data.] 3.SAS No. 106, â€Å"Audit Evidence,† identifies three categories of management assertions implicit in an entity’s financial statements that independent auditors should attempt to corroborate by collecting sufficient appropriate audit evidence. The third of these categories is â€Å"presentation and disclosure.† Included in the latter category is the following item: â€Å"Classification and understandability. Financial information is appropriately presented and described and disclosures are clearly expressed.† [AU 326.15] Likewise, one of the five transaction-related assertions is entitled â€Å"Classification.† This latter assertion suggests that, â€Å"Transactions and events have been recorded in the proper accounts.† Here are examples of â€Å"spin† techniques that can be used to enhance income statement data without changing net income: ââ€" ºClassifying cost of goods sold components as SG&A expenses to inflate gross profit on sales. ââ€" ºReporting items that qualify as operating expenses/losses as nonoperating expenses/losses to inflate operating income. (One of the most common variations of this â€Å"trick† in recent years has been including legitimate operating expenses in â€Å"restructuring† losses.) ââ€" ºTreating â€Å"other losses† as extraordinary losses to inflate income from continuing operations. 4.Shipping to the yard: Year-end sales cutoff tests are intended to identify misclassification of sales occurring near the end of a client’s fiscal year. Auditors will typically choose a small sample of sales that the client recorded in the final few days of the fiscal year and a comparable sample of sales that occurred in the first few days of the new fiscal year. Then, the relevant shipping and other accounting documents for those sales will be inspected to determine that they were recorded in the proper period. This standard test might have revealed the fact that Campbell was booking some unusually large sales near the end of accounting periods. Even though the shipping documents for these sales might have suggested that they were valid period-ending sales, a curious auditor might have  investigated the sales further. For example, that auditor might have attempted to determine whether the resulting receivables were collected on a timely basis. During the course of such an investigation, the auditor would likely have discovered that the sales were reversed in the following period or dealt with in some other nonstandard way. Accounts receivable confirmation procedures might also have resulted in the discovery of these â€Å"sales.† Customers to whom such sales were charged would likely have identified them as differences or discrepancies on returned confirmations. Subsequent investigation of these items by the auditors may have revealed their true nature. As pointed out by the plaintiffs in this case, during physical inventory counting procedures auditors typically take notice of any inventory that has been segregated and not counted—for example, inventory that is sitting in parked trucks. If there is an unusually large amount of such segregated inventory—which was apparently true in this case, the auditors should have inquired of the client and obtained a reasonable explanation. The old, reliable â€Å"scanning year-end transactions to identify large and/or unusual transactions† might also have led to the discovery of Campbell’s sales â€Å"shipped to the yard.† Guaranteed sales: During the first few weeks of a client’s new fiscal year, auditors should review the client’s sales returns and allowances account to determine whether there are any unusual trends apparent in that account. Auditors should be particularly cognizant of unusually high sales returns and allowances, which may signal that a client overstated reported sales for the prior accounting period. Accounts receivable confirmation procedures may also result in auditors discovering an unusually high rate of â€Å"charge-backs† by the client’s customers. In some cases, clients will have written contracts that document the key features of sales contracts. Reviewing such contracts may result in the discovery of â€Å"guaranteed sales† or similar transactions. Finally, simply discussing a client’s sales policies and procedures with client personnel may result in those personnel intentionally or inadvertently â€Å"tipping off† auditors regarding questionable accounting practices for sales, such as shipping to the yard or guaranteed sales. 5. Here are definitions of â€Å"negligence† and â€Å"recklessness† that I have referred to in suggested solutions for questions in other cases. These definitions were taken from the following source: D.M. Guy, C.W. Alderman, and A.J. Winters, Auditing, Fifth Edition (San Diego: Dryden, 1999), 85-86. Negligence: â€Å"The failure of the CPA to perform or report on an engagement with the due professional care and competence of a prudent auditor.† Recklessness: â€Å"A serious occurrence of negligence tantamount to a flagrant or reckless departure from the standard of due care.† After reviewing the definition of â€Å"negligence,† ask your students to define or describe a â€Å"prudent auditor.† Then, ask them whether they believe that definition/description applies to the PwC auditors assigned to the 1998 Campbell audit. Here are two hypothetical examples drawn from this case involving what I would characterize as â€Å"reckless auditors.† ââ€" ºA client employee tells PwC auditors that many year-end sales are â€Å"guaranteed† and that no reserve has been established for the large amount of returns that will likely be produced by those sales. PwC decides not to investigate this allegation because of manpower constraints on the engagement. ââ€" ºWhile reviewing receivables confirmations returned by Campbell customers, PwC auditors discover that approximately one-fourth of those customers indicate that their balances include charges for large amounts of product purchased near the end of the year, product that they did not order or receive. PwC dismisses this unusually large number of similar reported differences as a â€Å"coincidence.† 6.Here is a list of key parties that have been affected by the PSLRA. ââ€" ºInvestors who suffer large losses that they believe were caused by reckless or fraudulent conduct on the part of a given company’s management team, its auditors, or other parties associated with the company’s financial statements. At least some of these investors have likely found it more  difficult and costly to recover their losses because of the barrier to securities lawsuits erected by the PSLRA. [Note: Granted, the PSLRA has little impact on the ability of investors to recover losses in those cases involving obvious gross fraud or malfeasance by corporate management or other parties.] ââ€" ºSome parties have argued that the PSLRA diminishes the overall efficiency of the stock market. These parties argue that by making it more difficult for investors to file lawsuits under the 1934 Securities Act, the PSLRA has resulted in a larger portion of scarce investment capital being squandered by irresponsible corporate executives, which, in the long run, diminishes the strength of our economy and our nation’s standard of living. ââ€" ºGenerally, corporate executives have benefited from the PSLRA since it has reduced, to some degree, their exposure to civil liability. ââ€" ºAs pointed out in the Health Management, Inc., case (Case 1.4), the PSLRA apparently has not been very beneficial to large accounting firms. For whatever reason, in recent years, there has been a general upward trend in federal securities cases alleging accounting irregularities. Not only are independent auditors more likely to be named as defendants in such cases, the settlements in those cases tend to be considerably higher than in other lawsuits filed under the federal securities laws.

Diversity (Women and Lgbt)

Associate Program Material Diversity Organizations Worksheet Complete the following table with notes and thoughts related to your findings: Site| Thoughts/Notes| www. madre. org| International women’s human rights organization that uses human rights to advance social justice. This organization’s mission is to advance women’s human rights all over the world. | http://justice-equality. org| Organization for Justice and Equality. This organization’s goal is the upholding of justice and the promotion of equality in the U. S.Their emphasis is on civil rights, government policies and operations, ethical issues and consumer grievances. | www. thetrevorproject. org| A national organization providing crisis intervention and suicide prevention services to lesbian, gay, bisexual, transgender and questioning youth. This organization is the only one that focuses only on teens and young adults. They are also the leading crisis resource for anti-bullying initiatives. | W rite a 750 to 1,050- word paper answering the following questions: * What has been the status of women in the United States throughout history?Throughout history, women have always been beneath men in the amount of respect they received, the lack of equality of rights and more recently salary. Even though women are stronger than men emotionally and sometimes it seems women are stronger than men when it comes to giving birth and then taking care of the family, while still working a full time job, women still get the short end of the stick. Even the Catholic Church doesn’t recognize women as the head of the household. There is no wonder; the Catholic Church doesn’t allow women in the pulpit either. * What is the status of women in the U. S. oday? The current status of women in the United States has improved a lot in the past 80+ years. Women don’t have to stay at home and raise the children any longer, where in the past there wasn’t a question of it happeni ng. Women now have equal rights in most areas in the country, but they are still behind in the salary department especially in specific industries. Women now hold positions as CEOs of large companies, but again their salary might be a bit lower than that of a man working for a different company The fact that women can take on just about any occupation available is a big change also.There are many occupations that are male oriented, but women have busted through some of those walls also. * What are some examples of concepts or constructions of masculinity and femininity that you see in society and in media? Concepts of masculinity in society lately have been young men sporting short hair again and wearing button down shirts with jeans. Also some middle-age and older men are starting to grow out their beards. This is most noticeable in the media though. Examples of concepts of femininity seem to change too often to notice. It seems though that short skirts are on their way back though in general.I have not noticed anything significant with the women in media or even with celebrities. The only time anything is really noticeable is during the award shows, but then that is just fashion for one evening. * Historically, what has been the social status of GLBT people? Gay, Lesbian, Bi-sexual, Transgender and recently Questioning people have had a harder road than some of the larger minority groups in this country. Many years ago, being a ‘gay’ male or ‘lesbian’, might have meant they were going to lose their friendships or connection to family.The alternative lifestyle has opened up the doors of discussion in churches and all the way up to the White House. They have been an unaccepted people for a very long time. All the people of the GLBTQ community want is to have the same rights as married heterosexuals when it comes to marriage and adoption, as well as just to be accepted for who they are. * What is the status of GLBT people in the U. S. today? Today Gay, Lesbian, Bi-sexual and Transgender people are a lot more accepted then say 30+ years ago, but there is still vast room for improvement.Depending on the state, it is now legal for gay men and lesbian women to get married. The same goes for adoption also. Currently there are about twelve states in the country that do not permit GLBT adoptions. That is because some of those states don’t recognize the couple as a true couple. They are basing their decision on the Bible, even though there is supposed to be a separation of church and state. Since the church does not acknowledge the GLBT lifestyle, they will never be accepted by the church. * What are some social and political issues relevant to women and GLBT people in the U.S.? In politics, women seem to be equal to men in the United States. The Supreme Court got their first female justice on September 25, 1981 when Sandra Day O’Connor was appointed. The next major milestone was the first Hispanic female j ustice. Sonia M. Sotomayor was appointed on August 8, 2009. Because of the last election, the senate has 20 female Senators, which is the most in history. Nancy Pelosi became the first female Speaker of the House. As for members of the GLBT community, there are a handful of gay men and lesbian women who are known in government.Their lifestyle choice did not stop them from getting elected which is hopeful in the long run. They were voted into office because their constituents thought they were the best person for the job. I think the political arena is tougher for GLBT to navigate because it is such a hot topic between church and state and Democrats and Republicans. A person that claims to be conservative won’t be able to also come out as someone from the GLBT community. Most likely because Conservatives don’t accept the GLBT lifestyle to begin with.Socially, women have the edge of GLBT people also. Women have been accepted socially way longer then they had the right to vote. Granted, the socialization was usually just woman socializing with women; it was still an acceptable thing. For the GLBT community, they tend to socialize more amongst themselves than in any other forum. Not saying, they won’t socialize at all with heterosexuals. If they aren’t socializing with people that know they are of that lifestyle, they are not making it known that they are of that lifestyle. REFERENCESJohnson, R. (2013). Where is Gay Adoption Legal? About. com Guide. Retrieved from http://gaylife. about. com/od/gayparentingadoption/a/gaycoupleadopt_2. htm Supreme Court of the United States. (2013) Members of the Supreme Court of the United States. Retrieved from http://www. supremecourt. gov/about/members. aspx Terkel, A. (2012). Women In Senate: 2012 Election Ushers in Historic Number of Female Senators. Huffington Post. com. Retrieved from http://www. huffingtonpost. com/2012/11/07/women-senate-2012-election_n_2086093. html

The Effect of Clinical Simulation on Student Self-Efficacy in learning Dissertation - 1

The Effect of Clinical Simulation on Student Self-Efficacy in learning - Dissertation Example Cases like these point to the value of clinical simulation in nursing education to help empower such students in being able to handle challenging tasks and situations in their own practice. Clinical simulation is defined by Waxman (2010) as a teaching methodology that provides students with learning experiences closely resembling real-life circumstances that they are likely to encounter in their professional practice. â€Å"Simulated clinical experience requires immersing students in a representative patient-care scenario, a setting that mimics the actual environment with sufficient realism to allow learners to suspend disbelief† (p.29). Specific to nursing education is the utilization of a lifelike high-fidelity manikin which provides a high level of interactivity and realism to nursing students during their simulation proceedings (Jeffries, 2007). The integration of simulation in the nursing education curricula is welcomed by nurse educators as a new and effective method tha t promises to prepare the students better for a future in the nursing profession as competent and confident health workers. Setting up a clinical simulation situation takes much time, planning and effort that draws its information from theories and professional experiences (Waxman, 2010). The complexity of clinical simulation raises the question if it does improve a student’s self-efficacy to be a more efficient professional or leave the student overwhelmed with the probable challenges he or she will face in practice. Self-efficacy is one indicator of an individual’s perception of how well prepared he or she is in being able to successfully accomplish tasks (Bandura, 1977, 1986). Further, Bandura (2004) explains that: â€Å"Efficacy beliefs influence goals and aspirations. The stronger the perceived self-efficacy, the higher the goals people set for themselves and the firmer their commitment to them. Self-efficacy beliefs also determine how obstacles and impediments a re viewed. Those of high efficacy view impediments as surmountable by improvement of self-management skills and perseverant effort† (p. 145). Topic This study will explore clinical simulation as a new method of learning in nursing education. It will discuss the corresponding cognitive and affective processes that the student undergoes during the simulation and follow through if it is indeed an effective strategy in the improvement of student efficacy. The research problem The research problem posed for this study is â€Å"How does clinical simulation affect a student’s self-efficacy in learning in Nursing education?† Background and justification. The current demands of health care necessitate more aggressive training of health care professionals in order to address the growing needs of an industry that is besieged with a multitude of illnesses. More and more diseases come up with symptoms that may be unusual. These may pose a huge challenge to new nurses who have been trained in the traditional approaches of lectures, discussions, role-play and laboratory practice, as these may no longer be effective (Waxman, 2010). A nurse needs to be thoroughly trained in various areas and has amassed enough experiences to be able to carefully discern his or her next moves. Such moves may be crucial to the treatment and safety of the patient and thus,

The Legacy of a Nation Essay Example | Topics and Well Written Essays - 1000 words

The Legacy of a Nation - Essay Example Freedom, more than any other concept, defines what it means to be an American. Self-rule is closely associated with freedom, but also has the notion of the power residing in the hands of the people. Colonists, forced to turn to community government in the face of British absenteeism, established a legacy that persists today. Our free elections are the vehicle that we use to continue to celebrate this legacy. No public official is any more powerful than the public they serve. The legacies of freedom and self rule have demanded a responsibility that we find in the Puritan inspired legacy of hard work, honesty, and family. The commitment to these ideals has lasted for centuries. Americans continue to believe in these basic values taught by the Puritans and embraced by such American icons as Ben Franklin. Even in the face of technology and MTV, our legacy is the conservative value of deliberate effort to exact an honest output. While these legacies bring us great pride, there are some darker sides to America's legacy for the present. Slavery that began in the colonies continued well into the 19th century. The remnants and impact continues to show in institutional prejudice and individual bias. This is a legacy that we have struggled with through the civil rights movement and personal introspection. Most Americans meet our challenging legacies by reaching for another of our nation's indelible character traits. The legacy of exploration and conquering adds personal strength to anyone who has knowledge of our nation's past. Though we may not explore the open and unsettled territories as in the past, America has a unique perspective that allows it to take action on social and international issues that confront us. America can face the unknown and the untraveled road of the future. Justice, fairness, and the rule of law are where these legacies are held fast and allowed to endure. America may seem to move at a slow and almost plodding pace. That is the speed of contemplation and examination. It is our courts and our legislatures that have exemplified a legacy brought from many European countries that says America has a legacy to live up to, and it can not be hurried. America's greatest strengths are drawn from the legacies of history. The wisdom and morality of men and women of the past continue to pull us into the future. They give us the courage to face our darker legacies without defense and without fear. Our legacies are the role model for people around the world to look to for hope and inspiration. They define us and make our citizens uniquely America. D James Kennedy: A Christian and Protestant Nation In his sermon "God and Country" preacher D. James Kennedy asserted that, "The proposition that the U.S. are a Christian and Protestant nation, is not so much the assertion of a principle as the statement of fact.". Kennedy has struck the chord that has united this nation since colonial days. The country was founded not only on freedom of religion, but also with a strong diversity and tolerance of faith. In August 1748, John Kurtz was examined and ordained as a minister at the founding of the Lutheran presence in America. Kurtz practiced his ministry under the discipline of "Pietism" founded by Pastor Philip Jacob Spener. When he founded the movement some 80

Management and Time Estimates Article Example | Topics and Well Written Essays - 1000 words

Management and Time Estimates - Article Example complex and change with time, it is necessary to employ simulation approach to determine their efficiency because they are difficult to analyze through analytical approaches. The simulation approach explained in the article entails Discrete even simulation method using Monte Carlo idea. It involves modeling of systems in a hierarchical manner and employing network diagrams for events. Operations and events are then shown using state transition diagrams. The scheme is then evaluated based on available resources or inventory. This kind of simulations can then be applied in army or navy operations to determine the efficiency of their systems. Sadananda and Srinivasan article thus explains how this can be done and concludes by stating that it is a successful approach in the determination of availability options of the military systems. Their findings are very useful because they simply show that the same approach can be used in other places for the same purpose. The findings by Sadananda and Srinivasan should be evaluated carefully by managers in other sectors because they are very important and can change the overall performance of an organization (Sadananda and Srinivasan et al). This method can assist managers to identify weak areas or systems in their firm. Sadananda Upadhya, Srinivasan, N.K. "Availability estimation using simulation for military systems", International Journal of Quality & Reliability Management, Vol. 29 Iss: 8, 2012. pp.937 – 952 This article by Jeff Davidson outlines the six components or pillars of work-life balance. The article explains six key factors that influence the performance of a person in an organization and how best they can be managed to achieve maximum productivity. The six factors are self-management, time, stress, change, technology, and leisure management. Jeff argues that any person in an organization who is able to manage and balance these elements will

Developments In The European Union Essay Example | Topics and Well Written Essays - 3000 words

Developments In The European Union - Essay Example This effort was established by the Treaty of Maastricht in the year 1993 upon the foundations of the pre-existing European Economic Community. With almost 500Â  million citizens, the EU combined generates an estimated 30% share of the worlds nominal gross domestic product, (US$16.8 trillion in 2007) which also reflects global concern as structural and humanitarian developments (International Monetary Fund). Thus, the EU has developed a single market through a standardised system of laws which apply in all member states, guaranteeing the freedom of movement of people, goods, services and capital minimising the formalities of the Minister of External Affairs of the different member states and the other states accessing for the EU status (European Commission). It also maintains a common trade policy, agricultural and fisheries policies, and a regional development policy to convert the geographical differences into one landmass and also providing a broader channel of development in turns of trade and commerce, for the in and out the flow of the business is multiple, of course, huge (Farah 2006). With a far-sighted view of cash flow that can feed a fifteen member states, which have adopted a common currency, the euro, thus, expanding the operation of the transactions into many other nations. It has developed a role in foreign policy, representing its members in the World Trade Organisation, at G8 summits, and at the United Nations. Twenty-one EU countries are members of NATO. It has developed a role in justice and home affairs, including the dealings with immigration to the states by the abolition of passport control between many member states under the Schengen Agreement (Europa 2005).

Spain and portugal Annotated Bibliography Example | Topics and Well Written Essays - 250 words

Spain and portugal - Annotated Bibliography Example The oldest brother Juan at age 32 will be coming back home after studying abroad in France. He had gone there and accomplished his goal of getting his master’s in Business. Now his goal was to set out on another adventure, since he had traveled to France now he wanted to see more of this wonderful world. The middle brother Roberto at the age of 26 was following his older brother’s steps. This trip to him was to celebrate that he had gotten into the master’s program and would soon be traveling to Italy to finish it there. This was to prepare him for the outside world and get more of an insight on what he would soon experience. Carlos the youngest was simply going with them to celebrate his 21st birthday and as well he just wanted to experience an adventure of a lifetime. However, he had also at such a young age gotten his bachelor’s in computer since at the University of Denver. All three of the Luna brothers want to make this an experience of a lifetime. Not only that they want this experience to help them grow with each other, to help them be able to go on off on their own and know how to be responsible. They love adventure and what will make this trip even better is that since they all like different things it makes the trip have a lot of diversity. This trip they will embark on will last 21 days and in these days the trip we want to prepare will make them learn things from each other. For example while one of them like’s things outdoors, historical sites, and museums. The other one likes just the nightlife, parties, and fancy restaurants. On the other hand the other one likes to just interact with the locals and just to go around and do a little shopping. They know their income all together does not add up to get a life of a king, but it will be enough for them to have a great trip and to enjoy everything they want. During this trip we will take the clients to explore 3 major cities two of them belong to the country of Spain, which are the

Leadership Development at Goldman Sachs Essay Example | Topics and Well Written Essays - 2500 words - 1

Leadership Development at Goldman Sachs - Essay Example This scenario demands a learning organisation; in this case, a learning organisation is that which has the capacity and expertise to facilitate learning and transfer learning in continuous processes. This means that it is expected that organisations have sufficient expertise to facilitate learning for employees. The solution of the challenge war for talent is to create leadership development programme at Goldman Sachs, an investment bank at the United States. A leadership development program should cover all perspectives of the organisation, enabling it to effectively achieve its set goals. This is an analysis presents a case study of â€Å"Leadership Development at Goldman Sachs.† Among many other companies in the 1990s, Goldman Sachs was in the fire line fighting the war for talent – both to retain and attract its talent. With its initial step in managing talent, Goldman Sachs created several new managing director posts, dispersal by geography and function. The United States boasts of very many investment banks that have been very successful since the time they were developed, one of these banks is Goldman Sachs. This is an American multinational investment bank, offering various kinds of financial investment in the United States and some other countries that it has set base. Between 1980 and 2000 the investment bank went through major changes that were mainly due to many factors like growth of the IPO markets, merges, growth and expansion of their businesses as well as the globalisation element. In the 1990s, several fundamental issues were raised in the investment bank, which were crucial for its growth and development First, Globalisation increased the competition of talent, thus retention was one of the main issues for Goldman Sachs. It is important to realise that the only way to retain talent in any business is by managing it effectively. As many companies started expanding, there was a high rate of labour mobility, something that

Research Methods Coursework Example | Topics and Well Written Essays - 2750 words

Research Methods - Coursework Example While on the other hand a research hypothesis is also relevant to the formulation of the report. Thus it is referred to as the assumption made by a researcher about the possible outcome of the study. A hypothesis of a study must be simple, theoretically clear and specific (Kumar, 2005, p.75). Among the mentioned questions of the case, the least suitable for testing the hypothesis is the issue related to the opinion of the local population about the new facility. Hence the first question i.e. Q (b) is least suitable for hypothesis testing. The reason this has been cited as the least appropriate one is that the opinion of the local population is difficult to measure. Moreover it is also exploratory in nature. Hence a meaningful hypothesis cannot be formulated. Rather is must be guided by a clear sense of purpose. An Operational hypothesis states a quantifiable relationship among the variables. Therefore the operational hypothesis for the mentioned questions is illustrated below:- Opera tional hypothesis of Q a: - Increased road traffic has raised the number of road fatalities of large mammals because there is high pressure on the roads and less maintenance. Research Design for Q a: - Case study approach of qualitative research design can be used in this case for the purpose of evaluation. Case study approach has been chosen because it will provide an opportunity to have in-depth analysis of the matter within a stipulated time frame. Operational hypothesis of Q c: - The establishment of the factory will improve the conditions of the participating households, as they will be financially benefitted. Research Design for Q c: - Non-experimental design approach of quantitative research design can be employed for this purpose. It has been chosen because non-experimental design takes into account the reliance of one aspect on the other. The aspects are establishment of factory and the financial condition of the households. Operational hypothesis of Q d: - Improved mango v ariety will produce more pulp as it is scientifically processed. Research Design for Q d: - Experimental design approach of quantitative research design can be chosen to test it. This approach has been chosen because hypothesis is based on experimental testing. Moreover experimental design also tries to change the outcomes of the participants. Operational hypothesis of Q e: - Proximity of households to the road intensifies the supply of mangoes. Research Design for Q e: - In this context once again case study approach has been chosen to test the hypothesis. This will also reveal the fact that whether the closeness of road actually increases the supply of mango. (Word Count: 494) Q2: Protocol for an Experimental Design A research protocol can be defined as the detailed plan of a study (Rch, 2008). Hence every research study must contain a well defined research protocol. Now the case is about a company namely Country jams and Pickles who is planning to open a factory at a remote place for the production of pickles and jams. Consequently they will require adequate supply of fruits on time to maintain the flow of production. Therefore a study will be undertaken which will be principally focused to find whether supplying of free storage container to the farmers will increase the supply of fruits to the factory. Therefore according to the objective of the study hypothesis can be drawn as follows:- H0 –

Discuss the potential role of omega-3 fatty acids in the treatment of Essay

Discuss the potential role of omega-3 fatty acids in the treatment of inflammatory diseases - Essay Example Interestingly, the human body cannot produce these acids, however, once in the body, they are transformed into more complex structures. These structures have been noted to perform numerous important biological functions. ALA is, in fact, a predecessor to EPA and DHA (Gura et al. 2008). This is because when ALA is taken by humans, it is transformed to EPA and DHA. This is due to the fact that EPA and DHA are easily transformed to complex polyunsaturated fatty acids. The greatest supplies of ALA originate from fish such as salmonherring, halibut, sardines and Chinook (Racco 2009). As a result, many people consume fish oil in order to acquire the omega-3 fatty acid, rather than taking itself, for a number of reasons. ALA, furthermore, can be obtained from foods such as seeds, oils, green leafy vegetables, nuts, and beans among many others. As said by Gura et al. (2008), dietary fish oil supplementation exists documented to enhance inflammatory illnesses, for example, irritable bowel, asthma as well as rheumatoid arthritis. Various impacts of omega-3 PUFA are as a result of modulation of the quantity depending on the types of eicosanoids that are produced. This is because other impacts are expressed by eicosanoid-independent means, which include the behaviour following transcription factor activity, intracellular indicating routes as well as gene expression (Cheung et al. 2009). It is worth noting that animal experiments coupled with clinical intervention studies highlight the anti-inflammatory characteristics that omega-3 fatty acids poses. Therefore, these strengthen its worth in the running of inflammatory and autoimmune illnesses. Numerous clinical studies on the impact on different inflammatory diseases following the use of food supplements enriched with fish oils are coming up on a day-to-day basis. This is because of the increased knowledge in the causative agents of the diseases, which include rheumatoid arthritis, irritable

Thomas Malthus Thomas Jefferson Essay Example for Free

Thomas Malthus Thomas Jefferson Essay Thomas Malthus is popular for his Malthusian theory of population where he presents a mathematical perspective to express his ideology about population. To him, the population grows at a geometric rate while the food supply grows at an arithmetic progression and the resultant effect of this is that the population would out do the food supply. Consequently there would be increased rates of starvation and extreme poverty. Although he was aware of technological advancement he did not appreciate the fact that it would have a significant effect on the food production and hence the adverse effects of population growth would not be felt. He argues that the population would be checked by natural calamities like drought, war, famine as well as moral restraint where some people may not get married or others would delay marriage to bear few children. He also cited high infant mortality rates as a means of controlling the population.   Although many dismissed his theory citing it as one full of pessimism, Thomas Jefferson partly supported it. To him, it would best explain the European situation but not the American state. It is actually true the American land was very vast that it would accommodate many people. Population growth would consequently be seen as a means of ensuring that the unoccupied lands were utilized. (Faragher J, 2002). If the Americans worked hard to increase labor effectiveness then the food supply would be adequate for the increasing population. He argued that both the food supply and the population would increase at a geometric progression and hence no cause for alarm.   Thomas Jefferson did not seem to favor industrialization and advocated for increased agriculture. He distinguished Europe and America where he was quick to note that Europe had abundant labor and if it utilized its land to the optimal it would be able to overcome the adverse effects of population growth. (Wood J, 1994). To him, Europe should aim at maximizing its labor potential. He further argued that the European political economy was in a manner that needed to be changed as it was exploitative and to this respect he favored the democratic American population. Population policies did not exist to control the population but natural means favored it. It is important to note that immigrants were excluded but this was not due to economic reasons but due to racial as well as religious reasons. (Wood J, 1994).   He explained how the European population had doubled in a span of 23-24 years which is equivalent to a 3% increase per annum making it necessary to retain the previous reserves as they would be needed by the increasing population. However, for the American case he argues that population growth would be a mechanism of ensuring that vacant lands were occupied. (Wood J, 1994).   Ã‚  I think that both Malthus and Jefferson had a misconception regarding population growth and food supply. They underrated people’s innovation abilities. The theory was based on historical data and consequently a way of explaining historical trends and hence ineffective in explaining future population trends. It is inappropriate to justify the applicability of the theory because Europe population seemed to be increasing in a regular pattern. The linear or rather arithmetic progression of food supply was not based on experimentation but rather on convenient assumptions. (West B and Deering W, 1995). Population does not seem to increase exponentially as they both argued. In fact in the face of industrialization people tend to concentrate more in improving the quality of life rather than the population size. Again, the notion that population growth and food supply being independent on each other is also wrong. Malthusian theory does not bear any truth in today’s society as people’s birth rates have declined. A major advantage of increased physical mobility in the American society is that it ensured the provision of labor in areas where it is demanded and this was vital in the industrialization process. The physical mobility is also vital as it ensures the transfer of technological know how which is very significant in economic growth.   (Bergsten F, 2005). Social evils like crime and prostitution are bound to rise due to increased mobility. The political organization must also be affected as with time some immigrants become permanent citizens and have to air their views which is not necessarily the wish of the natives. Discrimination also emerged especially against the immigrants and this led to the rise of classes. The immigrants recorded lower living standards as compared to the natives. (Bergsten F, 2005). References: John MacK Faragher 2002. Out of Many: A History of the American People, 4th ed. Prentice Hall Publisher. Fred Bergsten. 2005. The United States and the World Economy: Foreign Economic Policy for the immigrants. Peterson Institute Publishers.   Bruce West and William Deering. 1995. The Lure of Modern Science: Fractal Thinking World Scientific Science Publishers. John Cunningham Wood. 1994. Thomas Robert Malthus: Critical Assessments. Routledge Publishers.

Gears The Transmitters of Mechanical Power Essay Example for Free

Gears The Transmitters of Mechanical Power Essay A body under net force is under tranlational motion and a body under net torque is under rotational motion; but they both have something in common and that is both have kinetic energy. This energy can be exploited to do some useful work. The mechanical energy of an object can be used to move another object. Some examples can be a rotating shaft of a motor, which can be used to move a vehicle for public transport. But for this to happen the force, the torque, the mehanical energy or the mechanical power needs to be transmitted from one moving or rotating body to another body. How mechanical force or torque or energy or power is transmitted from one body to another body? There are many ways, many mechanisms like pulley, chain, gears etc. So what is a Gear? Gear is a device, a mechanism through which mechanical force, torque, energy or power is transmitted from one object to another. To draw an analogy gear has same role for mechanical energy that electrical wire has for electrical energy. No not just that role of gear is much more than that. Gears act to increase or decrease the velocity from one moving element to another moving element. This way they has analogy with transformers in electrical domain. A gear is a circular object with a large number of teeth on it and two gears physically engage with each other to transmit mechanical power. This is illustrated in the following picture (http://www. osha. gov/SLTC/etools/machineguarding/animations/gears. html). Figure 1: Two gears engaged with each other In the subsequent sections we will briefly talk about different terminology about gears and about different types of gears: In the most coomon configuration a gear is engaged with another gear. However, it can engage with any other device which has compatible teath. One interesting arrangement is a linear object with teath, which is also termed as Rack. If a gear is engaged with a rack then forms what is known a Rack and a Pinion. It should however, be noted that a rack can be seen as a segment of a gear with infinite radius. Now let us talk about two gears of unequal size engages with each other as in figure 1, above. This combination produces â€Å"mechanical advantage† i. e. angular spee and torque of the second gear is different from that of the first gear. Let us explore this important concept about gears. Mchanical advantage The physical interlocking of the teeth in a pair of gears ensures that circumference of these gears move at the same linear speed. As the angualr speed is circumferential speed divided by its radius; the bigger gear moves at smaller angular speed than the smaller gear engaged with it. Let us look at it from the number of teath consideration. Because the teeth of two engaging gears are locked one to one, by the time all the teeth of the smaller gear have passed the point of contact only a fraction of the teath of the bigger gear has done that. In other words he smaller gear rotates faster than the bigger gear. This results in the following formula (Angular Speed A) x (Number of teeth A) = (Angular Speed B) x (Number of teeth B) or, (Angular Speed A)/ (Angular Speed B) = (Number of Teath B) / (Number of Teath B) This ratio is nothing but Gear Ratio. Similarly, one can dertermine torque ratio. The bigger gear experiences larger torque and vice versa. The torque ratio is equal to the ratio of the radii of the two gears and is inverse of the velocity ratio. Larger torque implies smaller velocity and vice versa. This fact is in confirmity with the law of conservation of energy. In this discussion we have ignored the friction, which dissipates the energy. Velocity ratio being a geometrical term remain unaffected by friction, however there is loss in torque ratio due to friction and thus actual torque ratio is always less than inverse of the velocity ratio. Because, gear is not perfectly circular due to presence of teath on the circumference, there is something called ‘pitch radius’, which is some sort of average between the radius at the root of the teath and at the outer of the teath and is used for these calculations for velocity ratio. Torque ratio etc. The pitch radius depends on the point of contact of the two gears. Also this point of contact keeps changing over time. Due to this the velocity ratio and torque ratio is not constant and instead keeps changing over the period of engagement. These ratios (velocity and torque ratios) that we have discussed so far are gross values and changes from point to point on the gear teath. However, the shape of the tooth can be made such that the velocity ratio remains constant with time on short and long term basis. This is done in good quality gears, because fluctuations in the velocity ratio causes undue vibration, put extra stress on the teeth, which can in turn break as the laod and the speed are many times very high. Keeping the velocity ratio constant is also desired from the precision considerations in devices like delicate instruments, eatches, clocks etc. Now let us compare gears with other mechanisms of mechanical power transmission. Gears and other Means of Power Transmission: There are other mechanisms for mechanical power transmission such as chains, belts, pulleys etc. Each of these has its own advantages and limitations. However, none is as diverse as gears. The problem of slippage is often encountered with these devices and the gears have edge over othe mechanisms. Similarly gears have constant velocity ratio, which is not the case with other devices. However, gears are generally more costly, but this higher cost is initial investment only and is paid back many more times due to very high life of gears than other devices. In the subsequent sections we will talk about different types of gears. Spur gear These are the most simple common gear. This is nothing but a disk with teath projecting radially and the leading edges of the teeth are aligned parallel to the axis of rotation. These gears are used for power transmission between parallel shafts. Such a gear is shown in figur 1, above. Helical gear This is a refinement over spur gear. In this gear the leading edge of the teeth is set at an agle to the axis of rotation and not not parallel to the axis of rotation as in case of spur gear. Because the gear is curved, this makes the tooth to be a segment of a helix. Such a tooth engages more gradually than do spur gear teeth. Therefore, this gear runs smoothly and produces much lesser noise than the spur gear. Besides, helical gear can tranmit power between non-parallel shafts as well. A pair of helical gears can be engage in two ways the shafts can be oriented at at either the sum or the difference of the helix angles of the gears. These configurations of the shafts are known as parallel or crossed, respectively. The parallel configuration is the mechanically more sound than the crossed configuration. In this configuration, the helices of a pair of engaging teeth meet at a common tangent, and therefore, the contact between the tooth surfaces will, is a curve, which extends some distance across their face widths. On the other hand, the helices do not meet tangentially in the crossed configuration, and between tooth surfaces only point contact is achieved. Because of this (the small area of contact), crossed helical gears are and can be used with light loads only. Generally, helical gears come in pairs. The helix angle of one is the negative of the helix angle of the other in this pair and this pair is termed as having a right handed helix and a left handed helix of equal angles. When engaged in the parallel mode, these equal and opposite angles add to zero i. e. the angle between shafts is zero or the the shafts are parallel. When engaged in the crossed configuration, the angle between shafts is twice the helix angle of individual gears. However, it should be borne in mind that parallel configuration of gears and paralles shafts are two different things i. e. parallel configuration of axes may not always lead to parallel shafts. The helical gear is shown in figure 2, below (http://en. wikipedia. org/wiki/Image:Helical_Gears. jpg). Figure 2: Helical gears in parallel and crossed configurations Double Helical Gear This gear is known as herringbone gear as well. This was invented to overcome the problem of axial thrust caused by helical gear. Here teath are of V shape. In this, each gear can be visualized as two standard and mirror image, helical gears stacked. This configuration cancels out the thrust because each half of the gear thrusts in the opposite direction. These can be interchanged with spur gears without changing the bearings.

Lufthansa airlines bankruptcy to profitable airline

Lufthansa airlines bankruptcy to profitable airline This report will take a closer look at the turnaround of Lufthansa airlines which went from near bankruptcy in 1991 to a now profitable airline. The evolutionary patterns of strategy and structure are identified in this report as well as how strategic leadership and German culture contributed to the turnaround. Furthermore, this paper will analyse the airline industry in terms of Porters five forces and will also take an extensive look at Lufthansas current situation by means of a SWOT and TOWS analysis. Additionally, Lufthansas business-level and corporate-level strategy will be identified and the Star Alliance, the worlds most important airline alliance, will be discussed in detail. 2.0   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Company Background The Lufthansa Aviation Group is considered to be one of the worlds leading air transport corporations. It includes a number of independent group and affiliated companies with business segments in passenger airlines, logistics, aircraft maintenance, catering, tourism and IT services. Lufthansas headquarter is located in Cologne, Germany and its operational centre for passenger and cargo services is situated in Frankfurt (Key data on environmental care and sustainability at Lufthansa 2002/2003). Lufthansa is 78 years old and has currently about 93,000 employees worldwide and in 2003-reported revenue of about 16 billion Euros (Lufthansa Key Figures 2003- see also Appendix I). In terms of traffic performance, Lufthansa is in third position in worldwide passenger transport. For many years the company has also been the market leader in international cargo traffic. In 2002, Lufthansas 368 aircrafts operated on routes to 327 destinations, carrying 50.9 million passengers and 1.63 million tons of airfreight. Lufthansa was also one of the founding members of the Star Alliance in 1997, when 16 partners joined into the worlds largest airline alliance (Key data on environmental care and sustainability at Lufthansa 2002/2003). 3.0 The Industry Background The organization also has to deal with cyclical risks. General economic fluctuations as well as geopolitical developments can have a large impact on the performance of the Lufthansa Group. As good examples serve the events of September 11, the Iraq conflict and the outbreak of SARS in Asia along with a stagnating global economy which seriously influenced the business activity of the entire airline industry in a negative way (Heerkens 2003). Lufthansa is also confronted with some capital market risks as its international business activities expose it to exchange rate and interest rate fluctuations in the international money, capital and also the foreign exchange markets (Zea 2003). A substantial threat is the price of fuel since fuel consumption remains one of the main cost items for the whole airline industry. In 2003, it contributed 7.6% to Lufthansas total operating expenses. Fluctuations in fuel prices can have a significant affect on the organizations operating result (Lufthansa Annual Report 2003). Furthermore there is the threat of higher costs of insuring Lufthansas fleet. Insurance costs increased dramatically after the events of September 11 and since then stayed at a very high level. The reason for that are the massive additional premiums that are being charged for insuring against war and similar events. In case of more wars and terrorist attacks the premiums are likely to increase even further (Zea 2003). There are also a number of infrastructure risks that Lufthansa will have to deal with. There are plans for an extension of the runway system at Frankfurt Airport, which is a major hub for Lufthansas operations, and is extremely important for the long-term competitiveness of the German airline. The extension project is also crucial for securing Frankfurt Airports future as an international air traffic hub, which also applies to the building of the maintenance hangar for the new Airbus A380 super jumbo that will be used from 2007 onwards. Nonetheless, a range of operational restrictions on extending the airport has recently been debated which would hinder its efficient use. In case a solution cant be found, Lufthansa would have relocate part of their business to alternative hubs. Additionally, bottlenecks in many European air traffic control systems cause many flight delays. The infrastructural limitations are a huge burden on the profitability of all European air carriers. On top of t hat, they are inhibiting the industry to keep up with the growing demand for air transport services (Lufthansa Annual Report 2003). There are also a few risks relating to the development of alliances. One of the foundations for Lufthansas commercial success was its integration into the Star Alliance, the worlds leading airline partnership system. Currently, many of the airlines worldwide are in a loss-making situation which, in the case of a few of Lufthansas partners like United Airlines and Air Canada, reached proportions that threatened their existence and also affects Lufthansa negatively. In regards to the Star Alliance, there are also challenges of coordinating and incorporating strategic activities like the establishment of a common global brand, a shared technology platform as well as joint training and personnel development (Lufthansa Annual Report 2003). Being part of the Star Alliance also poses the threat that Lufthansa might lose its identity. It is vital for them to preserve the Lufthansa brand (Bruch Ghoshal 2002). Labour unions are an additional threat; especially in Germany they have a lot of power. Labour unions can initiate strikes, which in the past have already led to delays of departures and substantial costs to Lufthansa (Steinborn 2003).   4.0 The Company Objectives Structural analysis of an industry is a useful way of determining a companys long-term profitability. Comprehending the dynamics of the competitive forces in an industry can give an insight whether an industry is attractive and whether there are any chances for returns on capital. Michael Porter, a professor at Harvard Business School, created a framework for understanding the structure of an industry. According to Porter, the five competitive forces that can have an impact on an industry are threat of new entrants, bargaining power of suppliers, bargaining powers of buyers, competitive rivalry, as well as the threat of substitutes (Analysis of industries 2003). 4.1   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Threat of new entrants The threat of new entrants offers the possibility that new firms are going to enter the industry, which will consequently lead to a reduction of industry returns by generally passing more value to consumers in terms of lower prices and also increasing the cost of competition. Factors like economies of scale, capital requirements, product differentiation, access to distribution channels, switching costs as well as brand value determine the threat of entry (Analysis of industries 2003). From my point of view it currently seems very difficult to enter the airline industry as this area of business as well as the world economy is facing a period of recession. Due to large product differentiation the entry barriers are fairly high. There is a range of flag carriers, charter airlines as well as a number of low-fare airlines in the industry. All these different types of airlines offer an extensive range of products that seem to satisfy most customers needs. Additionally, entering the aviation industry requires very high capital investments because aircrafts, technical support and IT services need to be purchased or leased. This industry is also very labour and fuel intensive which requires a lot of funds. Companies with an interest in entering the market also require access to distribution channels. This means that it is necessary to gain trust within the industry so as to get access to take-off and landing spots. This can be quite challenging as national policies still p lay a major role in the aviation industry. Furthermore it is a requirement to obtain permission from governments to enter airspace. Moreover once the market is entered, it is very difficult to exit which raises switching costs to a high level. Throughout the last decade the market opened due to the deregulation policy, which provided low budget airlines with an opportunity to enter the industry. The first entrants like Ryanair and Easyjet utilized this opportunity and developed strong brand names due to their first-mover advantage. Airlines that recently entered the market that have a similar price and cost structure generally find it more difficult to generate the traffic that is required to fill the seats in their aircrafts (Jacob Jakesova 2003). All in all it can be said that the threat of new entrants is not that high in the airline industry in the current business environment. 4.2   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Bargaining power of suppliers Factors that are connected with the bargaining power of suppliers include the threat of forward integration as well as the concentration of suppliers in the industry. Supplier power decreases the ability for competitors in the industry to earn higher profits (Wheelen Hunger 2000, p. 64). The main suppliers within the airline industry are the manufacturers of aircrafts like Airbus and Boeing, fuel suppliers such as Shell, British Petroleum and Chevron Texaco. Furthermore there are technical support and IT services as well as the catering services. Suppliers are very concentrated in the airline industry as Boeing and Airbus supply most commercial fixed-wing aircrafts. The concentration of suppliers makes it difficult for the airlines to exercise leverage over the two manufacturers and negotiate lower prices or play one supplier against the other. Moreover, at the current stage, aircrafts for long distance travel cannot be substituted by any other product, which strengthens the bargaining power of the suppliers even more. Fuel providers have an excellent bargaining position as they can increase fuel prices without regarding the airlines as an important customer group. Forward integration, which is the expansion of a business products or services to related areas in orde r to directly satisfy the customer needs, is fairly low. The reason for this is that it can be assumed that neither aircraft manufactures, fuel providers nor technical support companies will purchase an airline and staff it with flight attendants, commercial pilots, a maintenance crew and operate flights across the world (Jacob Jaksova 2003). Nevertheless, the strong position fuel suppliers as well as the relatively strong position of manufacturers of aircrafts need to be taken into account when operating an airline. 4.3   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Bargaining power of buyers Buyers can have significant power, as they are able to push down prices, and negotiate for better quality and service. Buyer power is determined by relative volume of purchase, switching cost, standardization of the product, brand identity, elasticity of demand as well as quality of service (Del Vecchio 2000). Since customers are not very concentrated and generally dont purchase plane tickets in large volumes they do not have a strong bargaining position. A single purchase of an airline ticket does not represent a significant fraction of the amount offered. Switching costs are quite low as consumers have a range of choices when selecting an airline. Due to the Internet, information about prices is also less fragmented and much easier to compare. Quite frequently, a customer can find price differences for the same flight and one seat is generally not any better, since everyone arrives at the destination at the same time. Considering the worldwide recession as well as the psychological effects of September 11, airline companies are under substantial pressure as customers switch to alternative transportation like trains. Vacation travelers also tend to shop around for the best price. Traveling by plane is quite expensive and can make up the largest part of the expense of a family vacation. For that reason, demand is quite elastic for some buyers. As soon as the price drops, the demand increases. However, airlines can move their prices in tandem with other airlines, which forces customers to purchase tickets for the market price until a price war starts (Analysis of Industries 2003). Nevertheless, all in all it can be said that the bargaining power of buyers is relatively low. 4.4   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Threat of substitute products The airline industry is threatened by a number of substitutes. This threat is quite substantial within Europe, where Lufthansas main customer base is located. Many European countries have an excellent railway system with high-speed trains like the ICE in Germany and the TGV in France. These trains can travel up to 300km/h fast and can cover large distances within the countries in just a few hours. Trains can be considered the largest threat as they offer a variety of advantages over flying. From my point of view it seems that flying is much faster, but on a domestic flight in a European country there is not much of a difference in comparison to trains. The reason for that is that it always takes a while to get to the airport, as they are mostly located further away from cities; check-in and security checks usually require being there at least an hour before take-off. After the plane has landed, it usually takes at least another 30 minutes to get out of the plane, claim the baggage an d organise transportation to leave the airport. Railway stations on the other hand can be much more easily accessed than airports, there is no check-in and security check required and the destination railway station is generally in a very central location close to hotels or offices that need to be visited on a business trip. Furthermore, trains offer generally great scenery while travelling and also offer more legroom. Most importantly the prices are generally lower than those of prestigious airlines like Lufthansa. Alternatively, travellers could use their own car, which would be more time consuming, but would have the advantage of increased flexibility and having transportation at the destination location and not having to use public transportation or taxis. Depending on the distance, this substitute can be either more costly or less expensive (Jacob Jaksova 2003). Moreover, short international trips to major European capitals are often done by bus and also by ferry if it is a tr ip to the United Kingdom. From my experience this is the most inexpensive way of travelling throughout Europe. However, there is no real substitute to flying if the desired destination is overseas. The only alternative to planes would be ships and unless the customer is looking for a relaxing trip on the oceans, it will just take too long to reach the destination. Recently there is also a tendency of larger companies towards purchasing corporate jets rather than flying first class. According to Costa et al. (2002) corporate jets might reduce first class traveller by 10% by 2005. 4.5   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Competitive rivalry Highly competitive industries are generally less profitable as the cost of competition is high or customers are receiving the benefits of lower prices. Competitive rivalry is affected by industry growth, brand identity, fixed costs, as well as barriers to exit (Wheelen Hunger 2000, p. 63). It can be said that the airline industry is highly competitive and that industry growth is fairly moderate with airlines struggling in taking away market share from each other. The barriers to exit are considered to be very high. Planes that are grounded dont earn any returns and it is quite complicated to dispose of these assets. Due to bankruptcy laws, airlines that are in financial stress can often remain competitors for a long time (Del Vecchio 2000). In Lufthansas home market, the European airline industry has seen some recent changes with the development of low budget airlines that compete with the more mature airlines. Additionally, recent airline crises like September 11 put even more pressure on all competing airlines. This leads to a process of consolidation and the creation of strategic alliances. Airlines within one alliance dont tend to compete directly with each other anymore, which lead to a slight decrease of the pressure (Jacob Jakesova 2003). By utilizing a range of strategies a company can have an effect on the five forces of competition and thus reform the attractiveness of an industry. Historically, various strategies shifted the principles of competition and future events like war or new inventions are likely to reshape the airline industry again. Lufthansas ability to be very cost effective is also of advantage. As part of its strategic change, Lufthansa implemented Program 15, a strategic cost management program. The goals of this program included an improvement of the competitive position through a reduction in cost, internationalisation of cost-structure and making staff conscious of reducing costs in their daily work. This cost management contributed substantially to Lufthansa making profits again in 1999 (Bruch Goshal 2000). Generally it can be said that Lufthansas change management during its crisis was outstanding. Its management was able to identify the signals for the potential problems, showed great strategic leadership through CEO Jà ¼rgen Weber and transformed the organization into a profitable company. This experience in strategic change management is very valuable and will surely help the organization with any challenges in the future (Bruch Sattelberger 2001b). Furthermore, Lufthansas management is very conscious of the need for innovation and customer service. They developed the brand ambassador concept where employees with use of personality and dedication create brand loyalty through day-to-day interactions with the customer (Rubens 2004). They recently also introduced a range of innovations and quality improvements at their passenger airlines and some innovations will be implemented in the near future. A special focus is on the business class on long-haul routes as this segment is the most profitable one. The key feature of Lufthansas new business class is a technically sophisticated seat that converts into a flat bed, which is 2 meters long, the longest bed in this class (Manuelli 2003). Lufthansa is also the first airline in the world that offers broadband Internet access on board its planes (Anonymous 2003). On the ground, they are also improving procedures for their status customers with Lufthansas Priority Service by relying on the Internet, mobile phones and check-in terminals simplify reservations and ticket sales as well as to reduce check-in times. A good example of Lufthansas innovative strength is their new terminal at Munich Airport, which was build to optimise operational procedures. In accordance with the best international standards they reduced the minimum connecting time to 30 minutes (Lufthansa Annual Report 2003). An additional strength of Lufthansa is that it has a policy of operating a young and modern fleet. They recently started a fleet renewal program in 2003 and by 2005 they will replace older aircrafts with ten new Airbus A340-600 jets, as well as ten new Airbus A330-300s. By 2007 the new Airbus A380 super jumbo will go into service that can carry 40% more passengers than the currently largest aircraft. The average age of Lufthansas fleet is just under 9 years, which puts them into a good position in comparison to airline world average of almost 15 years (Lufthansa Annual Report 2003). Another strength, which gives Lufthansa a comparative advantage, is the use of a premium executive jet service on North Atlantic routes like Dà ¼sseldorf-Newark and Munich-Newark. This involves flights in Boeing and Airbus aircrafts that were remodelled so they fit 48 business class seats only and no economy class. Lufthansa introduced this service, because they identified that these routes were in high demand for business class travellers (Ghazvinian Fragala 2002). Lufthansa also offers a very good website that has a lot of features the customers can utilize. Online bookings have more than doubled in 2003. Lufthansa are also constantly expanding their destinations, which can be reached with etix, the companys electronic tickets that offer convenient paperless travel. The number of passengers that use etix is gradually increasing as it can be used to fly to 70 per cent of Lufthansa destinations (Lufthansa Annual Report 2003). Lufthansas Miles More customer loyalty program is also a great tool to encourage customers to fly Lufthansa again. The program has grown in popularity since it was introduced ten years ago and developed into the leading frequent flyer program in Europe (Miles More). Furthermore, Lufthansa is one of the founding members of the Star Alliance, the worlds leading airline alliance. The alliance was voted Alliance of the Year in 2003 on three different occasions (Lufthansa Annual Report 2003). The Lufthansa group consists of seven independent subsidiaries. Lufthansa centrally coordinates their strategy development process. A principal element of the Lufthansa group is clear customer-supplier-relationships between the seven companies. However, the relationships between the individual companies are a weakness, as they dont function as planned. Lufthansa has not reached the required relationships for a market-based internal coordination. So far, the internal customers dont act as normal customers yet since the demand conditions, which they would never demand with other external business partners (Bruch Ghoshal 2000). Another weakness is that the openness for change has almost vanished since Lufthansas amazing turnaround was achieved. During the turnaround, changes were implemented very quickly, but today it takes a very long time for small innovations to take place. Lufthansa also admits not to be perfect in the areas of punctuality, luggage safety, waiting periods, technical reliability and telephone availability, but is in the process of improving this situation (Bruch Ghoshal 2000). Another weakness could be that Lufthansa does not do anything about their low-budget competitors in the European market. Lufthansas management claims that they would not start a low-fare airline under its name, as it would cannibalize its own traffic and damage its brands (Anonymous 2002). 5.0 Economic strategy of Lufthansa According to Hitt (2003, p. 122), a Economic strategy is an integrated and coordinated set of commitments and actions the firm uses to gain a competitive advantage by exploiting core competencies in specific product markets. The literature suggests that there are a number of different business-level strategies. However, I believe that in the case of Lufthansa an integrated cost leadership/differentiation strategy is used. The reason for this is that Lufthansa operates globally and therefore it is vital for them to implement cost leadership strategies as well as differentiation strategies in order to develop competitive advantages. Lufthansas Program 15 serves as a good example of a cost leadership strategy. After Lufthansa had undergone privatization they implemented this extensive strategic costs management program with the goal of reducing overall unit cost by 20% within five years (Bruch Sattelberger 2001a). In terms of a differentiation strategy, Lufthansa constantly tries to come up with a range of innovative ideas to stay ahead of the competition. A list of these ideas could be seen in the strengths section of my SWOT analysis of Lufthansa. It can be concluded that Lufthansa has made the right decision to implement an integrated cost leadership/differentiation strategy, since the literature also suggests that there is a relationship between the successful use of this strategy and above-average returns (Hitt 2003, p. 135). 5.1   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Corporate-level strategy of Lufthansa According to Hitt, a corporate level strategy involves specific actions by a company to gain a competitive advantage by having a group of different businesses competing in several industries (2003, p. 183). In the case of Lufthansa, the organisation consists of seven economically independent subsidiaries that include LH Passenger Service, LH Cargo AG, LH Skychef, LH Ground Services, LH Technical Services, Thomas Cook Travel Agency and LH IT services. The individual Lufthansa companies are quite successful. LH Technical services, LH Skychef and LH Ground Services are number one in their market (Bruch Ghoshal 2000). Product diversification, a primary corporate-level strategy deals with the scope of the industries and markets in which the company competes in addition to how managers buy, establish and sell different businesses to equal skills and strengths. In regards to Lufthansa, the organisation uses a related diversification corporate-level strategy which means that Lufthansa generates more than 30% of its sales revenue outside a dominated business and its businesses are related to each other since Lufthansa centrally coordinates their strategy development process. Lufthansas motives for such a corporate level strategy are likely to be issues such as taking advantage of economies of scope, sharing activities, transfer of core competencies, and an increase in market power as well as blocking competitors through multipoint competition (Hitt 2003, p. 187). 5.2   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Strategic Alliances While concentrating on internal costs and structural redevelopment, Lufthansa also worked on its external relationships by implementing the strategy: growth through partnerships (Bruch Sattelberger 2001b). While in other industries globalization triggered a wave of mergers of companies that operate internationally; airlines had to look for alternatives because national ownership regulations do not allow cross-border mergers. No airline worldwide has the capacity infrastructure to offer a suitable network by itself. Only through cooperating and alliances can the industry cater for the mobility requirements of the world economy. Therefore, founding the Star Alliance was a logical consequence and Lufthansa was one of the key-founding members of the first airline network in the world (Global Network Five years of Star Alliance). The purpose of the Star Alliance is to realize higher revenues and decrease costs by exploiting synergy effects. The synergies range from shared use of ground facilities like check-in-counters, a city office in Paris and also airport terminals. At the airports in Frankfurt, Copenhagen, Shanghai and Beijing the Star Alliance has its own check-in area with staff member of partner airlines. In addition the first Star Alliance Lounge went into service 2001 at Zà ¼rich airport. Other advantages include common frequent flyer programs, joint travel agency contracts collective market research and joint purchasing of materials and equipment (Economic effects for the airlines). Alliance members can also use code sharing a system by which two or more airlines agree to use the same flight number for a flight in order to attract more business by means of extending their networks through partner airlines (Collis 1998). Besides cost-saving synergies, the combined networks of Star Alliance members also offer many customer benefits. In comparison with other industry alliances, the Star Alliance is the recognized market leader (see Appendix 2). For 82 % of all offered flight connections, the Star Alliance is the fastest network. Every four seconds an aircraft of the Star Alliance starts or lands somewhere in the world and it possible to fly once round the world in 36 hours with Star Alliance airlines. Other fundamentals of its brand value include the presence of its members in important home markets and large international hubs, a high degree of customer recognition, excellent service and good cooperation between the frequent-flyer programs of the individual airlines. Furthermore each airline has its individual strengths with a strong market position in its home bases and regional hubs like Lufthansa in Germany. Due to the good cooperation, a whole network of these hubs was established and regional str engths complement each other (see Appendix 3). Additionally, most members also have regional alliances with smaller airlines, which improve the Star Alliance network even further (Global Network Five years of Star Alliance). Research has also shown that alliances result in lower ticket prices and more flight connections. It is suggested that there is a price advantage of an average 6% in comparison with conventional tariffs. In terms of the Star Alliance this leads to estimated passenger savings of between 50 and 82 million dollars per year. Additionally due to the sharing of terminals service counters of the airlines are more easily seen and found and walking distances are decreased. Having counters in the same area at airports also creates a single contact point and improves changes and baggage loading. Staff members of partner airlines can also help and advise customers with enquiries on behalf of the entire alliance. For the alliance to work properly certain level of quality needs to be ensured. This is achieved through frequent mutual quality checks. Jointly agreed quality standards in the areas of security, services and environmental protection are checked on a regular basis (Global Network Five years of Star Alliance). 5.3 Strategic Leadership and German Culture Strategic leadership, which is the ability to anticipate, envision, maintain flexibility and empower others to create strategic change as necessary (Hitt 2003, p. 386) was extremely important in Lufthansas turnaround. The main responsibility for effective strategic leadership generally rests at the top, especially with the CEO, but also with other recognized strategic leaders like members of the board of directors and the top management team. In the case of Lufthansa, the formulation and implementation of strategies was also in the hands of the top-level management, in particular Dr. Jà ¼rgen Weber, who was Lufthansas CEO at the time. In 1992 Jà ¼rgen Weber realized the full extent of Lufthansas problems and called for a crisis management meeting with 20 carefully selected senior managers. The outcome of this meeting was Program 93, 131 key actions aimed at drastically cutting about 8,000 jobs, lowering non-personnel costs, reducing the aircraft fleet as well as increasing revenues by DM 700 million to reduce the losses of DM 1.3 billion. The Executive Board then appointed a number of different teams that had the task to achieve the implementation of these 131 projects. Line management was responsible for the implementation of the staff cuts. It was seen as important for the success of Program 93 that line managers took that responsibility to realize the unavoidable cuts, on the one hand, but also to motivate the remaining employees, on the other hand. Jà ¼rgen Weber also created the OPS team (Operations Team) as a forceful engine in the process of implementing the 131 actions. They constantly monitored, created activities, advised and supported the line managers who were ultimately responsible for the implementation process. Weber showed his total support for the OPS team and personally supported them in many ways. He also implemented visible actions like a 10% reduction of the salaries of all Executive board members (Bruch Ghoshal 2000). Furthermore, to convey and spread these actions, Lufthansa implemented Town Meetings, which were initially an idea by General Electric. A typical agenda of a Town Meeting would mainly involve a talk with the particular Lufthansa units management about problems a

Comparing The Great Santini and Death of a Salesman :: comparison compare contrast essays

Comparing The Great Santini and Death of a Salesman Elementary school taught everyone that to compare and contrast two things, the best way to go about doing that is with a Venn diagram. Truthfully, this is an effective method, but it is quite rudimentary under the circumstances. "The Great Santini" by Pat Conroy and "Death of a Salesman" by Arthur Miller are two books that can become victims of the dreaded Venn diagram. The two stories are accounts of the lives of two families, each living out its version of the American Dream. The focus of both stories is on the father and how he interacts with everyone and everything around him. Bull Meechum of "The Great Santini" is a marine, raising his children as "hogs" and expecting only the best, if not better, from his brood. Willy Loman of "Death of a Salesman" also expects great things from his children, to the point that he refuses to believe that either of his sons is a failure, even when it is clear that they are. Although the two men themselves have many similarities, there are also other similarities between the two stories. One similarity is the role of the first son in the two anecdotes. Also, there is the role of the second child. Finally, both stories involve characters that are realizing what it means to be a man and what responsibilities come with the title. Bull Meechum is the father of four kids: two boys and two girls. His oldest son is Ben, a senior in high school who is well on his way to a career in basketball. As the son of a marine, Ben has been raised to take orders, no matter what the possible consequences may be. At the beginning of the story, Ben is talking to his father about his future. When Ben vehemently expresses his interest in pursuing basketball, Bull protests and reminds his son that he will serve in the marines for his four years, and then he can do whatever he wants. Unfortunately, Ben's basketball calling is cut short because of his father's hot headed insistence that Ben must take out a player on the other team, resulting in a broken arm and Ben's expulsion from the team.

Public Grazing on Bureau of Land Management Land :: Agriculture Farming Environment Essays Papers

Public Grazing on Bureau of Land Management Land The Bureau of land Management is an agency of the department of the Interior. It manages 264 million acres in the western lands and over 700 acres of mineral estate nationwide. The purposes of these lands are mineral development, recreation, timber, and grazing. The on that we are going to talk about is grazing on the BLM lands and how they are improving them. In the 1930's, overgrazing was damaging the Western rangelands to a dust bowl. In Wyoming during 1909 the sheep numbers reached six million. Most of these sheep operations were nomadic, with that meant that some of these operations were keeping their sheep on public land all year round. The range land became deteriorated bye this way of grazing. By the 1920's and 1930's the ranchers and the conservationists wanted something to be done before the land got any worse. Congress knew that they had to do something before they lost their country's biggest asset. The Taylor Grazing Act (TGA) of 1934 was passed. What the TGA did was regulated grazing on public lands through using permits. With regulation of public lands they could control numbers of occupancy and uses on the land. It also could preserve the land from destruction, with that it could improve the land and develop it better. In 1964 Public Land Law Review Commission was established to make recommendations on how to manage the lan d. Congress responded to that by passing the Federal Land Policy and Management Act (FLPMA) in 1976, which keeps the lands in Federal ownership. The Public Rangelands Improvement Act of 1978 was another act that improved rangelands. It realized that public rangelands were producing less than their potential. This act helps maintain and improve the conditions of the rangelands so that they become productive and usable to their highest potential again. The Executive Order 12548 of 1986, signed by President Reagan, stated that there would be annual fees for domesticated livestock grazing on public rangelands. Just in Oregon and Washington the federal government will receive over $1.8 million annually for grazing about 250,000 animals on BLM land. The BLM has improved the rangeland in Oregon by one hundred percent. With the Oregon Trail having immigrants and their cattle coming through, it destroyed the land with no grass left to graze. The BLM scattered cattle throughout the land and the grazing has improved, so has the water development.

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CAPITALISM Capitalism is the result of a process in which economic activities and relationships that carry these mechanisms have been generating increasingly complex operation. PHASES OF CAPITALISM The origins of capitalism Since the sixteenth century, some European countries such as England and the Netherlands favored the development of commercial activities in order to obtain larger quantities of precious metals (gold, silver), it was believed that the wealth of nations depended on Accumulation of these metals. That was called mercantilism. This commercial activity, driven by states, benefited some specific factors of society, bourgeois merchants and bankers, and produced a significant accumulation of equity . In the eighteenth century that capital was invested in the creation of the first industries. This pre-capitalist economic system called mercantile capitalism. Liberal capitalism. In the late eighteenth century, some European countries initiated a technological transformation of the means of production and the organization of production is what is known by the name of industrial revolution. The factory and steam were the symbols of the revolution it established the foundations of capitalism this revolution affected the economy and affected the social or political organization. the two most characteristic features of this capitalism are: 1 -. Factories were small and occupied a small number of workers. The property and capital were, in most cases, family origin. . 2 - this time more vigorously defended the idea of economic freedom at all costs, hence the name of liberal capitalism. Financial Capitalism Took place from 1870 to 1914. Economic growth in this period was linked to the emergence of finance capital , t... ...men, an educational system interfered by vested interests, the division of society into numerous caste groups and social classes (rich and poor political parties football fans etc.), delivery of mass media capitalists in order to install in the population through radio television and other media individualism and Cultural corruption. Capitalism through these known methods to adapt and change over time to perpetuate its domination (colonialism laissez faire, military and economic imperialism, neocolonialism, mixed economy. Multinational corporations, monopolies and oligopolies. merger of companies etc. ..) To counter these methods must be created massive campaigns of alternative cultural diffusion through media such as radio, tele vision, magazines etc.. Should be initiated campaigns and mass movements educating and alerting the public about this type of exploitation

Motivation and Emotion Essay

Motivation The process by which activities are started, directed, and continued so that physical or psychological needs or wants are met. Came from the Latin word â€Å"movere† which means â€Å"to move† Two Kinds of Motivation 1. Intrinsic Motivation – occurs when people act because the act itself is satisfying or rewarding (e.g. charity). 2. Extrinsic Motivation – occurs when people receive an external reward for the act (e.g. money). Approaches to Motivation 1. Instinct Approach – proposes that some human actions may be motivated by instincts (e.g. motherly instinct, survival instinct). 2. Drive –reduction Approach – when an organism has a need, the need leads to psychological tension that motivates the organism to act; fulfilling the need and reducing the tension (e.g. sleep). 3. Arousal Approach – a person has an optimal level of arousal to maintain (sensation seekers). 4. Incentive Approach – an external stimulus may be so rewarding that it motivates a person to act toward that stimulus rather than another stimulus or to satisfy a drive Maslow’s Hierarchy of Needs (Abraham Maslow) Self Determination Theory (Edward Deci & Richard Ryan) Biological Basis of Hunger Lateral Hypothalamus – gives off the biological feeling of hunger. Ventromedial Hypothalamus – causes a person to feel full. Digestive System – the stomach and intestines send nerve and impulses to the brain to recognize that they are already full. Glucose – it is what food is converted to; also called blood sugar; if the glucose is low, it increases a person’s hunger, if it is high, it decreases it. What motivates you to eat? the most common reason why people eat is due to stress and problems, other reasons may be of culture and tradition since other foods which are not considered edible in one country is considered a delicacy in another (such as insects). Eating Disorders group of condition defined by abnormal eating habits that may involve either insufficient or excessive food intake to detriment one’s physical and mental health Anorexia Nervosa – a condition which reduces eating to a point that a weight loss of 15% below the ideal body weight or more occurs (under eating). Bulimia Nervosa – a condition in which a person develops a cycle of binging or overeating enormous amount of food at one sitting, and purging or deliberately vomiting after eating (overeating). Causes of Eating Disorders These include depression, substance (drug) abuse, family history (heredity), difficult relationships with family and friends, stress, being overly concerned with being slim. Warning Signs these are the signs that could result the person to have an eating disorder: missing meals complaining about being fat refusing to eat at restaurants cooking feasts but not eating the food prepared repeatedly checking weight Emotion the â€Å"feeling† aspect of consciousness and include physical, behavioral and subjective components Physical: increase in heart rate, rapid breathing, dilation of pupils, dryness of mouth, fidgeting Behavioral: facial expressions, body movements and actions Subjective: anger, fear, happiness, and sadness James-Lange Theory developed by William James and Carl Lange states that a stimulus creates a physiological response that then leads to the labeling of the emotion event arousal interpretation emotion I see a snake muscle tenses, heart races feel nervous and scared Canon-Bard Theory developed by Walter Canon and Philip Bard states that emotions are felt first given a specific stimulus followed by a physiological change event simultaneous arousal and emotion I see a snake feel nervous and scared muscle tenses, heart races Lazarus Theory developed by Richard Lazarus states that a person decides what to feel depending on how he interprets an instigating stimulus or event event thinking simultaneous arousal and emotion coworker gets promoted think that you should have been the one promoted feel bitter Negative Emotions: fear anger guilt depression horror pride jealousy envy regret sad grief self-pity anxiety resentful denial How to become happy enduring happiness does not come from success take control of your time smile seek activities that engage ones skills get moving get necessary sleep prioritize relationships focus beyond the self make a gratitude journal nurture your spiritual self